Food cost, labor cost, tips on every ticket, and delivery apps that deposit net of their cut. We keep restaurant books that show what the kitchen actually made.
A restaurant lives on two percentages, food and labor, and dies when either one drifts for a month. The books have to report both every month, and New Jersey taxes nearly everything that leaves the kitchen.
Your monthly report shows food and labor as a share of sales, so a drift shows up in weeks, not at the end of the year.
The state's restaurant bulletin, S&U-1, taxes prepared food whether it's eaten in or taken out, and delivery charges ride with the check. A gratuity stays out of sales tax only when it's separately stated, called a tip, and passed through in full. We set the point-of-sale and the filings up to match.
Employees report tips of $20 or more in a month by the 10th of the next month, payroll picks them up, and larger restaurants file an annual tip report. We run the routine so it happens every month.
The apps deposit what's left after their commission. We book the full sale and the fee separately, so food cost is figured on what the customer actually paid, and sales tax on app orders is reconciled to whoever collected it.
“The Best. I have used multiple different CPA’s for my business over the years. That is until we landed here. They are great at their job, responsive when I need to get ahold of them and just overall friendly people in the office. Highly Highly Recommend Schwartz and associates.”
Your payroll, books and taxes live under one roof and always agree.
When an agency writes, we answer it. You hear about it after it is resolved.
Before you sign a second lease, you'll know whether the first kitchen earns enough to carry it.
You know your food. We’ll make sure you know your numbers just as well. Book a call and bring last month’s app statements.
