Prime cost reporting
Food, beverage and labor measured against sales every month, so you can adjust menu pricing and scheduling.
INDUSTRIES / RESTAURANTS & BARS
Restaurant accounting in Rhode Island & SE Mass.
Monthly books, tipped payroll, meals tax and the FICA tip credit for restaurants and bars, from a CPA firm that knows how restaurants run.
BIBBY & CO. / RHODE ISLAND & SE MASSACHUSETTS
WE KNOW RESTAURANT MARGINS
Busy nights don't pay the bills by themselves.
Thin margins leave no room for sloppy books. Food cost, labor, tips, meals tax and card fees all have to be right every month, or the problem shows up when it's expensive to fix.
We work with restaurants, bars, cafes and takeout operations from Providence to the Blackstone Valley and SE Mass.
Prime costTipped payrollMeals taxFICA tip credit
HOW WE HELP
Where we start.
These are the items that most often cost restaurant owners money.
Tipped payroll
Tip reporting and payroll through Jette Payroll, done correctly and tied to your books.
Meals and sales tax
POS reports, deposits and tax filings reconciled so the numbers match and filings go in on time.
FICA tip credit (Form 8846)
We calculate the credit for employer taxes paid on tips from your annual payroll records. It's often worth real money.
COMMON QUESTIONS
Answers before we get started.
Every situation is different. These are the questions owners ask us most.
What is the FICA tip credit?
Restaurants and bars can claim a federal tax credit (Form 8846) for part of the employer Social Security and Medicare tax paid on employees' tips. Many owners leave it unclaimed. We calculate it from your payroll records.
Do you handle Rhode Island and Massachusetts meals tax?
We make sure your POS sales, deposits and sales and meals tax filings line up each month, for Rhode Island and Massachusetts locations.
Can you help me track food and labor costs?
Yes. We set up your books so food, beverage and labor costs are reported against sales each month, so you can act on prime cost before the quarter is over.
Who runs payroll?
Payroll, including tipped employees, runs through our affiliated company, Jette Payroll, coordinated with your books and tax filings.
NEXT STEP
Not sure you're claiming the tip credit?
Tell us where things stand and what you want fixed. We'll start with a short fit conversation, then a review of your books before anyone quotes a price.