Restaurant accountant in Coquitlam

For a one-owner Coquitlam restaurant, monthly bookkeeping, payroll and the year-end T2 with statements usually cost $450 to $650 a month all-in, fixed in writing. Bookkeeping alone starts from $300 a month with GST and PST filing included. The year-end covers the T2 with Schedule 50, the small business deduction, CCA on kitchen equipment and leaseholds, T4 slips for staff, and T4 or T5 slips for the owner’s pay.

Two taxes at one till

In BC, prepared food carries 5% GST but generally not PST. Liquor carries both. A table that orders dinner and a pint from a Port Moody tasting room therefore produces a receipt with two different tax treatments. The point-of-sale system has to know which menu item is which. A cocktail coded as food under-collects PST, and that shortfall becomes the restaurant’s cost when the province finds it.

Takeout and packaged goods add more categories again. Check the POS tax codes every time the menu changes, and match them to the ledger accounts. GST is filed with the CRA; PST is filed with the BC Ministry of Finance on its own schedule. The BC PST guide covers registration, and rates are on the BC tax facts page.

Card tips and the payroll behind them

Most guests tip on a card, so the money passes through the restaurant’s bank account before it reaches staff. Who controls it decides the payroll treatment. Where the employer pools tips or decides the split, they are generally employment income, run through payroll with CPP and income tax withheld. Where tips pass directly from guest to server, the treatment differs. Write the policy down and make the payroll follow it. BC adds vacation pay of 4%, rising to 6% after five years, statutory holiday pay, WorkSafeBC premiums, and final pay within 48 hours of termination. Turnover multiplies the records of employment and T4 slips. See payroll in Coquitlam and the tip reporting guide.

Closing the day: POS, cards, cash and delivery apps

The books are built from one report per day. The POS close shows sales by tax category, tips, discounts, voids and payment type. We post it as one entry. Card settlements arrive later, net of processor fees, and are matched to the day through a clearing account. Cash goes from drawer to safe to bank, and any variance shows up by shift. Delivery apps pay out weekly, net of commission and sometimes of promotions you did not notice agreeing to. Record the gross sale, the commission and any adjustments separately. If the clearing accounts do not return to nil, something is missing. See bookkeeping in Coquitlam.

Food cost and the weekly count

Food and beverage cost is the number an operator can move week to week, through purchasing, portions and menu prices. It only helps if supplier invoices are coded to the right category and stock is counted on a schedule. A monthly count is the minimum, and high-value items like proteins and liquor deserve a weekly one. When suppliers raise prices, a current cost figure shows which dishes need repricing before a month of thin margin goes by. The pricing and margin page shows how menu pricing and cost fit together.

Comps, staff meals and waste belong in the numbers too. Each one is a real cost, and recording them through the POS rather than ignoring them is what makes the food cost percentage believable. A gap between what the counts say was used and what the POS says was sold is the early warning for over-portioning, spoilage or theft.

Fit-outs, kitchen equipment and the lease

Many Coquitlam restaurants sit in plaza units along the Lougheed Highway, Austin Avenue and Barnet Highway, and most started with a fit-out. Kitchen equipment is capital, claimed through capital cost allowance by class. Leasehold improvements in a rented unit follow their own rules, generally spread over the lease. A build-out timed either side of year-end changes the first year’s claim, so raise it before you sign the contractor. GST on the fit-out is usually recoverable as input tax credits once you are registered, which matters for cash in the opening months. The CCA classes guide covers the basics.

Opening a new place in the Tri-Cities

New restaurants keep opening near the SkyTrain stations, where new towers have put many more neighbours within walking distance. Before the first service, a new operator needs a business number with GST and payroll accounts, a PST registration for liquor sales, and a WorkSafeBC account for staff. Most owners also incorporate, and the choice of fiscal year-end is worth a thought: ending the year after the busy season, not in the middle of it, makes the inventory count and the cut-off easier.

The opening months carry heavy costs, and the GST on them is recoverable through input tax credits only once you are registered. The new corporation checklist lists the registrations in order, and the first employee page covers the payroll set-up.

Busy summers, quiet Februaries

Port Moody’s waterfront patios fill in summer, and a wet February can feel empty anywhere in the Tri-Cities. Rent and payroll do not shrink to match. GST, PST and source deductions collected during a busy month belong to the government, not to working capital. Moving them to a separate account as they are collected is the simplest protection there is. A short cash forecast, updated monthly, shows whether the slow months are covered before they arrive. The seasonal cash flow guide sets out a simple method, and the remittance calendar shows when each deduction is due.

Remote restaurant accounting from Abbotsford

EverStone is a sole practitioner CPA firm based in Abbotsford, serving Coquitlam owners entirely online. There is no Coquitlam office and no local staff. POS reports, supplier invoices and payroll data come in through a secure upload link, and questions sent after close are answered by email. No visit is required at any point.