Award-Winning Bookkeeping Services for Restaurants Toronto
Get your restaurant books done seamlessly. Outsource your stress; focus on your strengths. We help you with bookkeeping, financial analysis, and inventory management.
Ahead of Your Competitors. Restaurant Bookkeeping Set Up, Integrated, & Done for You.
Stay Efficient.
Reduce inefficiencies by up to 15%. Manage labor costs and minimize payroll errors with our detailed cost-to-revenue reports.
Integrate Your POS System.
Say goodbye to frustrating manual bookkeeping. Take action without the hassle of calculating numbers with QuickBooks Online.
More Happy Customers.
Be the chef, not an accountant! Give your clients a dreamy dining experience as we take over the burden of CRA compliance.
Pay for Needs Only.
Pay only for what you need. Our pricing packages are tailored to the number of monthly transactions and other specific factors.
Our Bookkeeping Services for Restaurant Owners in Toronto
Daily Sales Management
- Integrate with your POS system to log all purchases on real-time data
- Compare cash versus card payments and other metrics
- Daily revenue with categories and separated HST
- Set a bookkeeping system based on restaurant bank funds
Payroll Processing
- Restaurant payroll services for different pay rates and work hours
- Tracking CPP, EI, taxes, and tip reporting
- Compatible with QuickBooks to reduce payroll liabilities
- Aligned with tax withholding and WSIB rules to prevent hefty penalties
Account Reconciliation
- Monthly reconciliation of books with restaurant accounts
- Checking loans, lines of credit, credit cards, bank accounts, and payroll liabilities
- Real-time transaction with an ERP system
- Easy error fixing such as incorrect deposits, cash variances, lost checks
Financial Reporting & Analysis
- Measuring KPIs to see the restaurant’s overall performance
- Preparing reports like profit and loss statements and prime cost
- Calculating and tracking food and labor costs
- Analyzing KPIs like prime costs, break-even point, COGS, and gross profit
Accounts Payable Setup
- Weekly automated payments to suppliers and vendors
- Automated AP to quickly capture paper and electronic invoices
- Grow your restaurant without increasing accounting overhead
Inventory Tracking
- Calculate the value of inventory by tracking the consumables and supplies
- Reduces waste and optimizes food cost
- Avoid food shortages and strike a more accurate balance
- reconcile these counts to the inventory value on their books.
Prime Cost Control
- Manage your expenses to grow margins
- Weekly or monthly report of COGS, labor costs, rent, and more
- Detailed record of each transaction in the chart of accounts
- Track where your investments go
Trusted by Toronto's Up & Coming Restaurants.
As expert restaurant bookkeepers, we proudly help Toronto’s restaurant owners reclaim their time, see actual financial returns, and earn higher customer satisfaction.
50+ Restaurant Owners Trust Us with Their Bookkeeping. Hear Directly from Them.
We track your revenues, monitor your costs and bump your profits. Restaurant accounting done right, just the way you like.
Hear directly from our clients how “they could improve their restaurants and open new locations with SAL services.”
Books You Can Trust.
Avg restaurant owners lose $10-20k in HST tax savings yearly. We help you save it instead.
More Opportunities in Your Hands.
Save time and money on HST audits by our Toronto's Michelin-starred restaurant bookkeepers.
No More Fraud Risks.
We implement internal controls at your cash to keep your restaurant’s finances secure.
Why Restaurant Owners in Toronto Love SAL Accounting.
Only Pay When 100% Satisfied.
100% Money-Back Promise.
We value your satisfaction, so you only pay if you’re fully pleased with our bookkeeping services.
0% CRA Audit Risk.
Worried about CRA audits? We help you avoid it. Otherwise, we’ll manage your CRA audit for free.
Know What You’re Getting.
Enjoy upfront, clear pricing so you know what to expect.
Why Choose SAL Accounting as Your Restaurant Bookkeeper in Toronto?
The Number #1 Choice of Restaurant Owners in Toronto.
Casual Dining Restaurants
Overwhelmed by cash flow and profit margins? Our payroll services allow you to maintain the labor cost percentage between 25 to 30%.
Fast Food Chains
Worried about high transaction volume? Our bookkeepers track sales, manage cash flow, and handle tax obligations. We monitor each cash flow with a target operating margin of 6-9%.
Cafés and Coffee Shops
Tired of seasonal fluctuations? Make inventory for perishable goods easy with SAL’s monthly bookkeeping Toronto. Take care of the labor-to-revenue ratio based on the industry standards.
Pubs and Bars
Struggling with liquor inventory? Although your menu is a bit limited, SAL’s bookkeepers can maintain profitability. Our CPA ensures compliance with alcohol-related tax regulations.
Bakeries and Pastry Shops
Preparing daily goods is a real challenge. We can adjust profitable pricing to meet local demand in this trend-sensitive market. Our CPA carefully tracks liquor sales with integrated POS systems.
Food Trucks and Mobile Vendors
The street food market in Toronto is unpredictable. Our CPA uses professional pricing models to take care of ingredient costs.
A Message from Our CPA
“Hey there! I’m the founder of SAL Accounting. I know restaurant bookkeeping can be a burden, but don’t worry — we’re here to simplify everything for you. My team and I are dedicated to managing your books precisely and on time. We level up your restaurant by seamlessly integrating your bookkeeping, POS, and inventory management solutions. Trust us to transform your restaurant performance at a glance!”
M. SALMAN
Connect with Award-Winning Restaurant Bookkeepers in Toronto.
M.SALMAN, CPA
Alex Hart
Sarah Zeyneb
Jazz Thind
FAQs: Restaurant Bookkeeping in Toronto
What role does a bookkeeper have in a restaurant?
A bookkeeper can record, manage, and maintain the restaurant’s financial records. They guide you in choosing wisely for your restaurant with accurate financial data. At SAL, our bookkeepers handle customer and supplier payments and other involved parties. We also track payroll to ensure that staff are paid and reduce the tax office correctly.
What accounting and bookkeeping methods do you use?
There are two common restaurant accounting methods: cash-basis and accrual-basis. The cash-basis method involves recording revenue from customer payments and expenses of suppliers’ payments. On the other hand, the accrual-basis approach only tracks income when it’s earned and expenses when they’re contracted. Smaller restaurants or those that can go with a cash-basis method to have their business improved. On the other hand, most publicly traded restaurant companies should follow an accrual-basis method according to GAAP.
What type of costs does a bookkeeper track for a restaurant?
There are several restaurant costs that we track every month, including food, labor, rent, bills, supplies, maintenance, advertising, and so on.
What are important KPIs in restaurant bookkeeping?
In order to track your restaurant performance, we measure some key metrics. A number of factors determine them, including revenue growth, profit margins, costs of goods sold (COGS), and prime costs.
Does restaurant bookkeeping involve accounts payable?
Yes, it does. A restaurant’s unpaid invoices with its suppliers are known as outstanding invoices. These include food and beverage, cuisine equipment, and other vital services like utilities and upkeep. We help you manage AP to keep connections with great vendors.
Are there any hidden transactions in the restaurant's bookkeeping records?
We only calculate financial transactions directly related to the restaurant in the bookkeeping records. For instance, our bookkeepers do not log your purchase when you buy a car for your personal use. But we will record the purchase of a vehicle you bought as the restaurant’s asset.
Does bookkeeping involve inventory in a restaurant?
Tracking inventory consumption and remaining inventory is essential for all restaurants. At SAL, we use automation software to enhance this process. It helps you avoid spending inventory capital unwisely and saves more money.
Should I update my financial bookkeeping records?
As a restaurant owner, it is important to update your restaurant’s financial records regularly. It helps you with restaurant revenue management. Our CPA suggests updating sales and cash management daily and other records at least monthly.
What are the benefits of outsourcing my restaurant’s bookkeeping?
Our professional bookkeepers can maintain accurate records, comply with tax regulations, and make wise financial decisions. Therefore, you will have more free time to run your restaurant effectively. It sets you free from financial concerns that are not even your job.
Where is SAL Accounting located?
We are located in the heart of downtown Toronto. Our office address is 330 Bay Street, minutes away from Union Station and CN Tower.
Schedule a FREE Consultation to Discuss Your Bookkeeping Needs.
Ready to save time and money on bookkeeping? Don’t delay. Reach out today to schedule a free consultation on making your bookkeeping for restaurant owners simple and stress-free.