Restaurant accountant in Saanich

For a one-owner Saanich restaurant, monthly bookkeeping, payroll and the year-end T2 with statements usually cost $450–$650 a month all-in. Bookkeeping alone starts from $300 a month, with GST and PST filing included. The year-end covers the T2 with Schedule 50, the CCA schedule for kitchen equipment, the small business deduction, and the T4 slips for staff and owner.

A summer that carries the winter

Traffic on the peninsula rises with the season. Visitors drive Highway 17 to and from the ferry terminal at Swartz Bay, patios open in Cordova Bay and Brentwood Bay, and a kitchen can do in a July week what it does in a February month. The fixed costs do not shrink with the crowds.

The practical rule is that GST, PST and payroll deductions collected in August are not August’s cash. They belong to the CRA and the province at the next filing. Moving them to a separate account as they are collected keeps the busy season from paying for the quiet one with borrowed money. The seasonal cash flow guide sets out a simple forecast.

Two taxes on one bill

Prepared food and non-alcoholic drinks carry 5% GST. Liquor carries GST and BC PST. A table that orders lunch and a glass of wine produces one receipt with two taxes on different lines, and the POS has to know which item is which.

Each tax goes on its own return: GST to the CRA, PST to the BC Ministry of Finance. Both should agree with the POS sales report for the period. Menu changes are the usual source of error, when a new cocktail or a take-home bottle is added under the wrong category. A quick check of tax codes after every menu change avoids a year of under-collected PST. The BC PST guide covers liquor.

Tips, students and the payroll that follows

Many Saanich restaurants staff the summer with students, and most guests tip by card. Where the employer controls the tips, by setting a pool or deciding who gets what, they are generally employment income and go through payroll with the withholdings that follow. Tips that pass directly from guest to server are treated differently. The tip reporting guide explains the line.

Every seasonal hire adds a full cycle. It starts with a TD1 and SIN, then vacation pay at 4% and statutory holiday pay for qualifying staff. It ends with final pay within 48 hours if you end the job, a record of employment, and a T4 by the last day of February. See payroll in Saanich.

Long weekends are where the payroll rules bite. A kitchen open on a statutory holiday owes qualifying staff an average day’s pay plus a premium for working the day. The BC stat pay calculator works it out per employee, and the record of employment guide covers the end of the season.

Closing out the day

The books start with the POS closing report: sales by category, taxes, tips, comps and payment type. Card settlements arrive a day or two later, net of processor fees. Delivery apps pay out net of their commission. Cash goes to a safe and then a bank.

Each day’s POS summary is posted as one entry. Card and delivery payouts are matched to it, with fees and commissions recorded gross as expenses. Cash variances show up by shift. When the weekly reconciliation ties, the monthly books are reliable. See bookkeeping in Saanich.

Buying from peninsula farms

A Saanich kitchen can buy produce, eggs and herbs from farms a few kilometres away. That is good for the menu and needs care in the books. Most fresh produce is zero-rated, so the farm charges no GST and there is no input tax credit to claim. Small farms may issue handwritten bills or none, and payment is often by e-transfer.

A purchase without a receipt is hard to defend. Ask for a simple invoice with the farm’s name, the date and what was bought, and match it to the e-transfer. Coding farm purchases to food cost, not a general supplies account, keeps the food cost figure honest. See farm accounting in Saanich for the seller’s side.

Food cost, equipment and the lease

Food and beverage cost is the number an operator can move each week. It is only useful when purchases are coded by category and inventory is counted at least monthly, with liquor and proteins counted more often. The margin analysis page shows how menu pricing and cost fit together.

Kitchen equipment is capital, claimed through CCA by class. Leasehold improvements in a rented space follow their own rules over the lease. A renovation timed just before or after year-end changes the first year’s claim. The CCA classes guide covers the basics.

What EverStone handles for you

One CPA, one fixed fee agreed up front:

• Daily POS, card, delivery and cash reconciliation
• GST and BC PST returns tied to the POS
• Payroll with tip treatment, seasonal hires and T4 slips
• Food and beverage cost reported monthly
• Equipment and leasehold improvement schedules
• T2 corporate return and year-end statements

Fixed fees, fully online

EverStone is an Abbotsford CPA firm serving Saanich operators entirely online. There is no Saanich office and no local staff. POS reports, invoices and payroll data come in through a secure upload link, questions sent after close are answered by email, and returns are signed electronically. See what it costs.