Restaurants & Hospitality · London, Ontario
Accounting and tax for restaurants and hospitality in London, Ontario
Margins are tight and cash moves fast. We help you see your numbers clearly and stay on the right side of CRA.
What we handle
The tax and bookkeeping issues restaurants face
Payroll remittances
Source deductions have strict deadlines. We advise on your remittances so penalties never eat your profit.
Tips and gratuities
Controlled tips paid through payroll are treated differently from tips customers hand to staff directly. We help you set it up right.
HST and sales reconciliation
We match your point of sale reports to your bank deposits and file HST accurately.
Food and labour costs
Know your food and labour cost percentages every month so you can price with confidence.
How we help
Services for restaurants
Every restaurant we work with gets a CPA who knows the industry, plain English answers and a secure online client portal.
Questions
Frequently Asked Questions
How should tips be handled?
It depends on who controls them. Tips paid through payroll by the employer are treated differently for CPP and EI than tips customers give staff directly. We review your setup.
Can you reconcile my point of sale?
Yes. We match your daily sales reports to deposits, card processor payouts and HST.
Do you run payroll?
We advise on payroll remittances to CRA. We don’t run payroll itself and are happy to work with your payroll provider.
What our clients say
★★★★★
She takes the time to explain, educate and answer any questions. She simplified concepts and used examples that made it easier to absorb.
Amanda V
★★★★★
She has helped us with business and personal income tax for several years and we are ever so thankful for her expertise.
Joan B
★★★★★
Her friendly manner, professionalism and attention to detail is very impressive. I highly recommend Major Tax & Accounting.
Sandra R
Other industries we serve
We work with all kinds of owner managed businesses
Let’s talk about your restaurant.
Book a 15 minute call. We’ll listen, ask a few questions and tell you exactly how we can help.