Restaurant Accountant in Toronto | Specialized CPA for Restaurants, Cafes & Food Trucks
You Run the Kitchen. We’ll Run the Numbers.
Toronto’s restaurant industry runs on razor-thin margins — typically 3-5% net profit. One missed HST filing, one untracked food cost, or one payroll error can wipe out an entire month’s earnings. Bronte Bay CPA specializes in accounting for Toronto restaurants, cafes, food trucks, and takeout businesses — helping owners turn financial chaos into clarity.
With nearly 40 years of experience serving Canadian small businesses, we understand exactly what restaurant owners face: high daily transaction volumes, complex tip reporting, delivery app commissions, food spoilage, and CRA scrutiny. We help you stay compliant, profitable, and stress-free.
Restaurant Accounting Services We Offer
🍴 Daily & Weekly Bookkeeping
We reconcile your POS data (Square, Toast, Lightspeed, TouchBistro) with your bank accounts every week. No more end-of-month surprises.
- Sales reconciliation across cash, card, and delivery platforms
- Daily cash drawer balancing
- Expense categorization (food, beverage, supplies, utilities)
- Cost of Goods Sold (COGS) tracking by menu category
💰 HST Filing & CRA Compliance
HST gets complicated for restaurants — dine-in is taxable, but some prepared foods sold to-go follow different rules. We handle:
- HST registration and filing (monthly, quarterly, or annually)
- Input Tax Credit (ITC) maximization
- HST on tips, delivery fees, and service charges
- CRA audit defense and correspondence
👥 Payroll & Tip Reporting
Toronto restaurants face strict CRA rules around tip reporting. We make sure you’re compliant:
- Bi-weekly payroll for hourly and salaried staff
- Tip allocation and reporting (controlled vs. direct tips)
- ROE filing for departing employees
- WSIB and EHT remittances
- T4 and T4A preparation
📊 Restaurant-Specific Financial Reporting
Generic P&L reports don’t cut it for restaurants. We build custom dashboards showing:
- Prime Cost % (target: under 60%)
- Food Cost % by menu category
- Labour Cost % by shift
- Sales per labour hour
- Average ticket size and table turnover
- Delivery app profitability (after commissions)
📈 Virtual CFO Services for Growing Restaurants
Planning a second location? Adding a patio? Switching to a ghost kitchen? Our CFO services help you:
- Build pro-forma financial models
- Secure SBA loans and BDC financing
- Negotiate better lease terms with landlords
- Prepare for franchise expansion
Restaurant Tax Deductions Most Owners Miss
Many Toronto restaurant owners overpay tax simply because they don’t know what’s deductible. Here are commonly missed deductions:
Staff Meals
50% deductible if reasonable.
Liquor Licence Fees
100% deductible annually.
Uniforms & Laundry
Fully deductible if branded.
Delivery App Commissions
UberEats, SkipTheDishes, DoorDash fees (up to 30%).
Music Licensing
SOCAN, Re:Sound fees.
Spoilage & Waste
Properly documented food loss.
POS Subscription Fees
Toast, Square, Lightspeed monthly costs.
Capital Cost Allowance
Equipment depreciation (ovens, fridges, furniture).
Why Toronto Restaurants Choose Bronte Bay
- ✅ Industry-specific expertise — We’ve worked with 50+ Toronto restaurants, from food trucks at Trinity Bellwoods to fine dining on King West
- ✅ Modern tech stack — Certified partners with Xero, Hubdoc, Plooto, and QuickBooks
- ✅ Transparent pricing — Flat monthly packages starting at $399/month. No surprises, no hourly billing shock
- ✅ Bilingual service — English and French service available for Quebec-bound expansions
- ✅ Fast response — Replies within 4 business hours, guaranteed
- ✅ Local presence — Offices in Toronto (Yonge & Sheppard) and Vancouver, serving clients across Canada remotely
Frequently Asked Questions
Yes. Restaurant accounting involves industry-specific complexities — high transaction volumes, inventory tracking, tip reporting, delivery commissions, and HST nuances — that general accountants often miss. A specialist saves you money and prevents CRA issues.
Dine-in food and beverages are subject to 13% HST. Most prepared foods sold for takeout under $4 are also taxable. Bottled water, milk, and basic groceries may be HST-exempt. We help ensure your POS is configured correctly.
Yes. The CRA requires all tips — both controlled (added to bills) and direct (handed by customers) — to be reported as income. Restaurants must report controlled tips on T4s. We handle compliant tip reporting to protect both you and your staff.
Yes, but only 50% of the cost is deductible. The meals must be reasonable in cost and provided primarily for business purposes (e.g., during shifts).
Delivery app commissions (typically 15-30%) are 100% deductible business expenses. However, you must report the gross sales reported by the platform — not the net deposit — and claim the commission as an expense.
Most successful restaurants run a food cost of 28-35% of revenue. Cafés and pizzerias often run lower (20-25%), while fine dining can push 35-40%. We help benchmark your numbers against industry standards.
Weekly for cash flow and daily sales. Monthly for full P&L. Quarterly for tax planning. We provide all three.
Yes. We serve restaurants across Canada remotely, with physical offices in Toronto and Vancouver.
Ready to Stop Worrying About the Books?
Whether you’re opening your first food truck or scaling to your fifth location, Bronte Bay can help. Let’s talk about your restaurant’s specific needs.
👉 📅 Book a Free 30-Min Discovery Call | 📋 Fill Our Quick Questionnaire
- 📞 Toronto: +1 416-439-4648
- 📧 Email: info@brontebay.com
- 📍 Visit us: 5000 Yonge Street, Suite 1901, Toronto, ON M2N 7E9