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Accounting for Restaurants In Toronto

Filing Taxes is a professional company providing accounting and bookkeeping services in Canada. We are here to offer comprehensive services to restaurants. Partnering with professional accountants will save your money and time.

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Ready to Get Top-Tier Restaurant Accounting Services?

Scale your restaurant with a finance and accounting team you can trust.

Managing a restaurant is hard work! Giving each customer an amazing dining experience takes hard work and focus.

We have decades of experience in restaurant bookkeeping and operations. The Restaurant Industry is our bread and butter. Our experienced team of restaurant accounting services professionals understands the unique needs of your business. Our restaurant accounting system furnishes clear and correct daily financial reports, seamless payroll process, and books always ready for timely tax filing. Our accounting system for restaurants is the leading choice for many of Canada’s most popular establishments.

Filing Taxes offers full-spectrum accounting services to restaurants including accounts payable, sales audit, managed payroll, accounts receivable, general accounting, and a full accounting systems infrastructure.

Our prime locations are in Toronto, Mississauga, Hamilton, and Oakville. Also, through our cloud accounting services, we can assist restaurants anywhere in Canada.

The Importance of Accounting to a Restaurant

Accounting has always been about translating complexity into clarity. The success of your restaurant business greatly depends on the accuracy of your financial records. Regardless of the size of your business, accounting helps in providing information showing where your business is headed. You can determine whether you are running a profitable business or measures that need to be taken to achieve better financial outcomes.

Every business is required to be compliant with the laws of the land and taxation policies. Proper restaurant accounting ensures that your liabilities are paid and recorded on time. This includes statutory requirements like payment of sales tax, GST, and income tax. You will be able to manage and monitor cash flow to ensure that money within your business is being directed to the right channels.

Accurate, Stress-free Accounting Services for Restaurants

Restaurant accounting comprises so many aspects critical to running a restaurant business. It’s the daily pressure of the finances that burdens you above all else. Margins are tight, making cost control and revenue collection a priority.

Our team of experts will fill the gaps in bookkeeping, payables, and payroll, letting you focus on good food and great service.

We provide restaurant accounting services for growth-driven owners. Our scope of service covers expert management of financial accounting paired with the service of ongoing education and guidance. Here’s what you will get:

Accurate Financials

We're betting you got into the restaurant business because you love delivering good food and great experiences, and not to master the art of bookkeeping and cash flow management. But if you don't closely monitor expenses and margins, assess your prime cost, and continuously operate efficiently, the restaurant can quickly turn into a losing proposition. Receiving timely financial reporting is crucial so that restaurant owners, chefs, and managers can make decisions to improve prime costs, operational expenses, and the bottom line.

Let Filing Taxes handle your monthly cash flow, balance sheet, and income statements to give you the insights you need to run a better business.

Payroll and Tip Management

Paying restaurant employees is one of the most challenging kinds of payroll there is. Not only is there a mix of permanent and casual employees that have to be categorized and paid properly, but you also have the dubious task of tip distribution to contend with. At Filing Taxes, we manage the records of employees as they come and go, and accurately capture all staffing costs in your monthly books. Everyone gets paid the right amount at the right time.

Point of sale and Revenue Collection

Collecting revenue from your point of sale (POS) plus daily cash reconciliations is a pain. We create efficiency through technology and ensure your POS integrates with your bookkeeping process and daily closing procedures to ensure everything is accounted for. Say goodbye to manual errors like missing a discounted or comped meal, and hello to headache-free collections and reconciliations.

Inventory Management and Supplier Payments

Understanding and accurately accounting for inventory is no small task but is the nuts and bolts to running a successful restaurant business. You have to carefully manage and stay current with your suppliers to consistently get the ingredients and supplies you need to deliver culinary excellence. We’ll stay on top of your payments so you always have the supplies you need

Period End Reporting

Review metrics and identify areas of opportunity with audits, benchmarks, and financial meetings.

Small Business Mentoring

One-on-One coaching to perfect a vision and implement a strategic plan for your restaurant.

Financial Forecasting

Our most popular service to a growing small business. We make your numbers work to accurately predict your restaurant’s financial future.

Operational Reporting

Analyzing current results against industry comparisons and setting goals, tactics, and measurements for the future. With our rich experience with restaurant clients, we can provide specific real-time financial insight into revenue, cost of goods, and expense trends.

​Through a comparative analysis, you can analyze how your revenue, prime costs, and expenses compare against the industry.

Your Business Gets a Unique Advantage

At Filing Taxes, we empower restaurants with better accounting through a unique blend of expertise and efficient value.

When you work with us, your restaurant business will access an accounting advantage that allows you to reach the next level of growth. Here’s what sets us apart.

Deep Expertise in Restaurant Accounting

We’ve worked with an extensive list of Canada’s leading restaurant chains. We understand financial requirements and make maintaining compliance easy.

Comprehensive, High-Level Service

Our team is built to handle every level of financial and accounting service – from standardized bookkeeping tasks to back-office technology consulting to CFO services.

Dependable Data for Decision-Making

With Filing Taxes, you’ll be able to accumulate accurate data that drives business intelligence. Better strategic decision-making capabilities are an advantage.

Cost-Efficient Accounting Service

From a cost perspective, working with Filing Taxes gives your business an efficiency that greatly improves on internal solutions and benefits your bottom line.

The Ability to Easily Scale

Working with us unlocks your ability to seamlessly scale your business’s accounting functions as needed. Our teams can handle up to 4x the capacity of internal resources.

Clear and Proactive Communication

Unlike many outsourced accounting firms, we prioritize clear and proactive communication to ensure high-quality service that meets your business needs.

A shift from surviving to thriving.

The effects of coronavirus will be felt in every industry for years to come and the restaurant industry is no exception. But, as the crisis subsides, restaurants must shift from a mindset of surviving to one of thriving by seeking to capitalize on new opportunities and adopting long-term considerations instead of taking a short-term, reactive stance. The world is complex – especially now. But restaurant accounting services from professionals at Filing Taxes can help you to better understand your business so that you can be confident about the decisions you make even in the coronavirus pandemic.

We create a plan that fits your business

Based on your business needs and future goals, our team will create a service package that’s right for you.


Every industry has specific tools and requirements, and restaurants are no different. We work with the technology you use every day. We don’t take shortcuts with security, and your data always belongs to you.

Are you ready to offload your restaurant accounting and bookkeeping?

Take the first step by getting in touch. During our conversation, we’ll discuss:

  • The current status of your operations
  • Your finance and accounting desires and requirements
  • Solution packages that can streamline your business through operational efficiencies
  • Position your business for success with our specialized accounting services priced below the market and led by a team that performs above it. v

If you’re ready to scale your business and increase its operational efficiency with a finance and accounting team you can trust contact us today!