Bookkeeping for restaurants
SF Business Solutions keeps restaurant books from your Toast or Square sales reports: daily sales and card deposits reconciled, tips and payroll recorded, food cost and prime cost tracked, and every location reported separately.
Plans start at $250 a month.
Sales and deposits from your POS
Restaurants run on daily numbers. Your POS reports sales by category, discounts, comps, sales tax, tips and payment type; your bank shows card deposits a day or two later, net of processing fees, plus cash deposits. We book the daily sales summary from Toast or Square and reconcile it to the deposits, so missing cash or a processor error shows up in days, not at year end.
Tips and payroll
Card tips flow through your POS and out through payroll, and they have to match. We record tips owed to staff as a liability until paid, and work with your payroll provider so tipped wages are reported correctly. Larger food and beverage establishments also file Form 8027 on tip income each year, and many restaurants can claim the FICA tip credit on Form 8846; we keep the records for both and use them when we prepare and file your return.
Food cost and prime cost
Food cost is what you spent on the food you sold, divided by food sales. Prime cost adds labor. Both only mean something if purchases are coded by category and inventory is counted. We code every vendor invoice to food, beverage, alcohol and supplies, and calculate food cost and prime cost monthly, or weekly if you count weekly.
- Vendor invoices coded by category
- Food, beverage and prime cost each period
- Inventory counts reflected in cost of goods sold
Several locations
A group needs each location's P&L and the group total. We track every location with classes or tracking categories, so rent, labor and food cost are reported per location, and shared costs are allocated the way you choose.
How to start
Three steps. The first one is free.
- 1
Book a free consult
A 1-hour call about your books, your software and what you need.
- 2
Give us access
Invite us to QuickBooks Online or Xero and share your bank and card statements.
- 3
We take it from there
Cleanup first if you are behind. Then we close each month between the 5th and 15th of the following month, depending on your documents.
SF Business Solutions is very diligent and responsive. I can tell they are passionate about their work, which I particularly appreciate about them. My project was rather complex but they managed to get it done according to my needs.
Do you do restaurant bookkeeping that works with Toast or Square?
Yes. We book your Toast or Square daily sales reports and reconcile them to card and cash deposits.
Can you handle tip reporting and payroll for a restaurant?
We record tips as owed to staff until paid, work with your payroll provider on tipped wages, and keep the records for Form 8027 and the FICA tip credit.
Can you track food cost and prime cost?
Yes. We code every purchase by category and calculate food cost and prime cost each month, or weekly if you count inventory weekly.
Do you work with restaurant groups with several locations?
Yes. Each location gets its own P&L, and you get a group total.
How much does bookkeeping cost for a restaurant?
Our monthly plans start at $250 a month. The price depends on locations, sales volume and how often you want reports.
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