Restaurant & Food Service
Industry-specific accounting for food businesses.
Restaurants have one of the most complex accounting profiles of any business — tip income, high employee turnover, food cost management, and thin margins that demand precision. We understand the restaurant industry and structure your accounting to protect your bottom line.
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What We Offer
Who Is This For?
Why Choose Synergy
Tip Reporting Done Right
CRA has specific rules for employer-controlled tips vs. direct tips. We ensure your allocation and reporting is compliant — protecting you and your staff.
HST on Food: It's Complicated
The HST rules for food differ by product type and service method. We ensure you're applying the right rates and not over-remitting.
Payroll for High-Turnover Teams
We handle your weekly or bi-weekly payroll runs, T4 slips, and source deduction remittances — even with a large, rotating staff.
Cash Flow Visibility
With tight margins, you need to know your numbers in real time. We deliver monthly financials that give you a clear picture of where your money is going.
Frequently Asked Questions
How does tip reporting work for restaurants?
There are two types of tips: controlled tips (those the employer distributes) and direct tips (given directly to the employee by the customer). Controlled tips are considered employment income and must go through payroll. Direct tips belong to the employee. The CRA scrutinizes tip reporting in the food service industry, so getting this right from the start is important. We set up the correct payroll structure for your specific tipping model.
Do I charge HST on all food sales?
Not necessarily. In Canada, most basic groceries are zero-rated (no HST), while restaurant meals and prepared foods are taxable at 13% in Ontario. The rules get complex for items like baked goods, beverages, and takeout orders. We ensure you're applying the correct HST treatment to every category of your menu.
Can you handle multi-location restaurants?
Yes. We work with restaurant groups that have multiple locations, handling consolidated reporting, intercompany transactions, and individual entity tax returns. We structure the reporting so you can see both individual location performance and consolidated results.
How do you handle POS system data?
We integrate with major POS systems and payment processors to pull your daily sales data directly into your bookkeeping. This eliminates manual data entry, reduces errors, and gives us real-time visibility into your revenue streams.
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