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Blue Ocean Professional Corporation
CPA, Chartered Professional Accountants Free Consultation
INDUSTRIES · 05

Accounting for restaurants & hospitality businesses

Restaurants, cafés, catering and hospitality businesses: tips, payroll and daily sales, reconciled.

TipsTips and gratuities treated correctly on payroll, controlled or direct
Daily salesPOS, delivery-app payouts and cash reconciled to your deposits
Food costPurchases tracked so you can see food and beverage cost as a share of sales
WHAT WE HANDLE

The work that comes with your industry.

Payroll with tips

Pay runs that treat tips and gratuities correctly, with the right deductions.

Sales reconciliation

POS, delivery apps and cash matched to deposits every month.

Food and beverage costs

Supplier invoices categorized so your cost percentages are accurate.

GST/HST filing

Returns prepared from reconciled sales, with input tax credits on supplies and equipment.

Equipment and renovations

Kitchen equipment and leasehold improvements claimed through capital cost allowance.

Year-end and tax

Financial statements and your T2, with a review of what you can claim.

COMMON QUESTIONS

What restaurants clients ask us

How are tips handled on payroll?

It depends on whether you control how tips are distributed or staff receive them directly. Controlled tips go through payroll with deductions; direct tips are reported by the employee. We set up your process correctly.

Do delivery apps complicate my HST?

They can. App payouts arrive net of commissions, which often carry HST of their own. We record the full sale and the fees separately so your return is right.

Can you help me open a second location?

Yes. We help with budgeting, financing and whether the new location should sit in your current company.

Ready for an accountant who knows your industry?

Mississauga, ON · St. Petersburg, FL · info@blueocean.tax

Free Consultation 416-828-7462