Restaurant accountant in Edmonton

A one-owner Edmonton restaurant usually pays $500 to $700 a month all-in for bookkeeping, payroll and the year-end: T2 with Schedule 1 and Schedule 50, CCA, small business deduction, T4 or T5 slips and instalments.

The hospitality accounting hub covers restaurants in BC, Alberta, Ontario and Manitoba. Operators comparing provinces can read the Vancouver restaurant page, where PST on liquor adds a second tax, or the Toronto page for Ontario HST.

One sales tax, and the Quick Method question

Alberta has no PST, so Edmonton bills carry 5% GST only, on food and liquor alike. No item split is needed, and the GST return simply reconciles POS tax to GST paid.

Smaller restaurants may use the Quick Method, remitting a set percentage of tax-included sales instead of claiming input credits. Zero-rated groceries reduce credits anyway. Compare with the Quick Method calculator and read the Quick Method guide.

Tip pools, tip-outs and payroll

If the restaurant collects tips and sets the split, they are generally controlled tips: payroll income with CPP and tax withheld. Staff-run pools are treated differently. Put the policy in writing and match payroll to it. See the tip reporting guide.

WCB-Alberta coverage applies to kitchen and floor staff. Alberta has no provincial payroll tax. Staff meals and shift drinks can be a taxable benefit where staff pay nothing, so set a policy there too. See payroll services in Edmonton.

Closing out the POS every night

Each POS report shows sales, GST, tips, discounts, voids and payment types. Match card batches to deposits after fees and cash to the report less cash tips, and require manager names on voids and comps.

Weekly checks catch shrinkage early. Record delivery-app sales gross with the platform’s commission, not the net payout. See bookkeeping in Edmonton.

A second location needs separate POS closes, labour and food costs each month, or a weak room can hide behind a strong one for a year.

Food cost through the seasons

Patio season can double covers, and food cost swings with waste and supplier pricing. Count monthly, code purchases by category (food, liquor, beer, wine, non-alcoholic) and compare cost ratios to menu prices. See the pricing and margin analysis.

Plan cash the same way. The GST and source deductions collected in a strong July belong to government, and they fall due while January is slow. Hold them in a separate account from the start.

Corporation, AT1 and the owner’s pay

Established restaurants are usually incorporated, with a T2 due six months after year-end, the Alberta AT1 and statements. Owners take salary or dividends; other withdrawals become shareholder loans, generally taxed if unpaid one year after the corporation’s year-end. Start with the salary-versus-dividends calculator; corporate tax in Edmonton covers the returns.

Kitchen lines, coolers and patios are claimed through capital cost allowance, and leasehold improvements over the lease. If your accountant is behind, we take over the prior return and papers. See switching accountants.

What EverStone handles for you

One firm, one fixed fee agreed up front:

• POS, card and cash reconciled weekly
• GST returns, with the Quick Method compared
• Payroll with tip-pool treatment, WCB-Alberta and T4s
• Monthly food and beverage cost
• Equipment and leasehold schedules
• T2 and Alberta AT1 with year-end statements

Fixed fees, fully online

EverStone is a CPA firm serving Edmonton operators entirely online: video, phone and a secure upload link. Monthly bookkeeping starts from $325 a month with GST filing included. Payroll and the year-end are added to one fixed monthly fee. See what it costs.

Remote restaurant accounting

EverStone is a CPA firm working online. There is no Edmonton office and no local staff. Meetings are by video or phone and documents by secure upload and e-signature, using your existing POS and payroll data.