Books built from your sales reports
Restaurant numbers move fast: daily sales, food costs, delivery app fees, royalties and payroll for hourly staff. We record sales from your POS reports and your franchisor’s weekly statements and reconcile them to your bank, so nothing is missed and nothing is counted twice.
- Weekly or monthly sales recording from POS and franchisor statements
- Royalties, advertising fund and delivery platform fees
- HST returns
- Payroll for full-time, part-time and hourly staff, vacation pay and ROEs
- Food and labour cost tracking
- Year-end statements and T2 corporate returns
- Payroll records for employer compliance inspections
Buying or selling a franchise
Through our network we hear from owners who want to sell and franchisors looking for operators. Before you buy, we review the seller’s financial statements and sales records, work out what you can expect to earn after royalties, rent and financing, and help you prepare for the bank.
Employers of temporary foreign workers
If your restaurant employs workers through the Temporary Foreign Worker Program, an employer compliance inspection can ask for years of payroll records, pay stubs and proof of wages. We prepare and organize those records and work alongside your immigration consultant or lawyer, who handles the immigration side.
Common questions
Is restaurant food subject to HST in Ontario?
Generally yes. Prepared food and drinks sold by restaurants are subject to 13% HST in Ontario, with a few exceptions such as the point-of-sale rebate on qualifying food and drinks of $4 or less.
Can you work from my franchisor’s weekly reports?
Yes. That’s how we keep the books for most franchise clients. We record sales, royalties and fees from each weekly statement and reconcile them to your bank deposits.
Do you help when buying a restaurant or franchise?
Yes. We review the seller’s numbers before you sign, explain the difference between buying shares and buying assets, and prepare projections for your bank.
When are payroll remittances due?
Most small employers are regular remitters: source deductions are due to CRA by the 15th of the month after you pay employees. T4 slips and the T4 summary are due by the last day of February.