POS sales that do not match the bank
Card fees, delivery apps, gift cards and cash make it hard to see true daily sales.
How we helpWe reconcile your POS, delivery platforms and deposits each month so sales and sales tax are right.
Food and retail · Tax · Books · Insurance
Tax, books and insurance for restaurants
Thin margins, tipped staff and daily sales tax. We reconcile your POS, handle tip reporting and claim the credits restaurants often miss.
Restaurants, cafes, bars and caterers work with our office for sales tax, tip reporting, payroll, food cost tracking and restaurant coverage.
Reviewed by Orkun Ozkaymak, CPA, MBA·Clients in all 50 states and abroad
Restaurants and food service
Every day is a busy day
Restaurants collect sales tax on every ticket, pay tipped staff under special payroll rules and live and die by food and labor costs.
Our office reconciles your POS to your bank, runs tipped payroll correctly and claims the FICA tip credit, while our agency covers your kitchen, your dining room and your staff.
Special needs
What makes restaurants different, and how we help
Where restaurants gain the most from a coordinated office.
Tips and the FICA tip credit
Tips must be reported and taxed through payroll, and many restaurants never claim the federal credit for employer Social Security and Medicare paid on tips.
How we helpWe handle tip reporting, file Form 8027 when required and claim the tip credit on Form 8846.
Food and labor costs
A few points of food or labor cost is the difference between profit and loss.
How we helpWe report prime cost monthly in QuickBooks so you can adjust menus and schedules quickly.
Fire, spoilage and liquor
Kitchen fires, equipment breakdown and alcohol service are the risks that close restaurants.
How we helpOur agency quotes restaurant packages with property, liability, liquor liability and workers compensation.
One coordinated office
Services for restaurants
Tax, accounting and insurance under one roof, so the numbers on your return, your books and your policies all agree.
Tax and accounting
Sales taxState and local restaurant and sales tax returns.Learn more Payroll taxTipped payroll, tip reporting and Form 8027.Learn more QuickBooks bookkeepingPOS and delivery app reconciliation in QuickBooks.Learn more Business income taxBusiness returns with the FICA tip credit.Learn more LicensingBusiness and liquor license support.Learn more
Calendar
Filings we keep on schedule
The recurring deadlines restaurants face most often. We track them for you and send reminders before anything is due.
- 20th of each monthIllinois sales taxForm ST-1 plus local restaurant taxes where they apply.
- QuarterlyForm 941 and state payrollIncluding reported tips.
- March 31 (e-file)Form 8027Tip income report for larger food and beverage employers.
- With your returnForm 8846Credit for employer FICA paid on tips.
Dates shown are for calendar-year filers. When a due date falls on a weekend or holiday, it moves to the next business day.
QuickBooks Online
Books built for restaurants
Your QuickBooks reports food cost, beverage cost and labor every month, so you can act before a slow week becomes a slow quarter.
Our office sets up QuickBooks Online with a chart of accounts designed for your industry and your entity type, mapped line by line to your tax return. Your books are ready for filing season all year.
Chart of accounts
- 41000Food salesIncome
- 41200Beverage and bar salesIncome
- 51000Food costCOGS
- 51200Beverage costCOGS
- 52500Delivery app feesExpense
- 21700Tips payableLiability
Mapped to your tax return lines
Questions
What restaurants ask us
What is the FICA tip credit?
It is a federal credit for part of the Social Security and Medicare tax a food and beverage employer pays on employee tips above the minimum wage level. It is claimed on Form 8846 and is often worth thousands.
Does my restaurant need to file Form 8027?
Large food or beverage establishments where tipping is customary and that normally have more than 10 employees on a typical day generally must file Form 8027 each year.
How do I handle delivery app sales?
Apps deposit net payouts after fees. We record gross sales, fees and sales tax correctly so your books and returns match.
Related industries
All industriesGrocery and convenience storesDifferent tax rates on the same receipt, lottery and SNAP sales, and cash every day. We make the numbers add up.Explore Retail and e-commerceSelling in one store or fifty states, sales tax follows you. We track nexus, reconcile marketplace payouts and keep inventory accurate.Explore Salons, barbers and spasBooth renters, commission stylists and tips all follow different rules. We set them up right and cover your chairs, your staff and your clients.Explore
Next step
Let's talk about your business
Request an insurance quote, or start your company with our office. Prefer to talk first? Book a time, virtual or in person.