POS and deposit reconciliation
Daily sales, tips, tax collected and card deposits tied back to your bank, so the sales on your books are the sales you actually took in.
INDUSTRIES / RESTAURANTS & BARS
Restaurant bookkeeping in Rhode Island & SE Mass.
Monthly bookkeeping, tipped payroll, meals tax and the FICA tip credit for restaurants, bars and caterers, 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, takeout operations and caterers from Providence to the Blackstone Valley and SE Mass. Restaurant bookkeeping is where we start, and tax and payroll sit on top of it.
New to the tip credit? Read how the FICA tip credit works for restaurants ↗
BookkeepingPrime costTipped payrollMeals taxFICA tip credit
HOW WE HELP
What monthly restaurant bookkeeping covers.
This is the work we do every month, before any tax or advisory work.
Vendor bills and food cost
Food, beverage and supply invoices coded correctly so cost of goods is real, not a guess.
Tip payout reconciliation
Credit card tips and cash tips matched to what was paid out and what was reported on payroll.
Financials you can read
A monthly profit and loss and balance sheet, with prime cost, so you see how the month went while there is still time to act.
HOW WE HELP
Where tax and payroll come in.
These are the items that most often cost restaurant owners money.
Prime cost reporting
Food, beverage and labor measured against sales every month, so you can adjust menu pricing and scheduling.
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. How the credit works ↗
PRIME COST
What prime cost tells you.
Prime cost is your food and beverage cost plus your labor, measured against sales. It is the number that decides whether a busy restaurant actually makes money.
Most owners only see it when the books are current. If your books run two months behind, you hear about a bad month after the next one is over. We close the books monthly and report prime cost with the profit and loss, so you can adjust menu prices, portions and scheduling while it still changes the result.
Food costBeverage costLaborMonthly close
HOW WE HELP
What we need from you each month.
That is the whole list. We handle the reconciliation and coding.
POS sales and tip reports
Daily or by period, whichever your POS produces.
Vendor invoices
Or access to the bills in your accounting file.
Bank and card statements
Or bank feeds connected, so every account can be reconciled.
Payroll reports
We already have them if payroll runs through Jette Payroll.
LOCAL TO LINCOLN & PROVIDENCE COUNTY
A CPA down the road, not a call center.
We work with restaurants, bars, cafes and caterers from our office at 14 Breakneck Hill Road in Lincoln, serving Providence County and the towns around it: Providence, Pawtucket, Cumberland, Smithfield, North Providence, Woonsocket and Central Falls, plus Southeastern Massachusetts, including Attleboro, Seekonk, Fall River and Taunton.
We know Rhode Island and Massachusetts filing rules, and our CPA is licensed in both states. When you have a question, you talk to the people who keep your books.
COMMON QUESTIONS
Answers before we get started.
Every situation is different. These are the questions owners ask us most.
How much does restaurant bookkeeping cost?
It depends on how many locations you have, how many transactions run through your POS and bank accounts, and what shape the books are in today. We start with a short conversation and a review of your books, then give you a price. You are not quoted blind.
What does monthly restaurant bookkeeping include?
We reconcile your POS sales to your deposits, code vendor bills so food and beverage cost are accurate, tie tip payouts to payroll, and close the books each month with financial statements you can read. Sales and meals tax filings are checked against the same numbers.
Do you work with caterers, bars and cafes too?
Yes. We work with restaurants, bars, cafes, takeout operations and catering businesses. The bookkeeping is similar: sales, tips, food cost, labor and sales tax. The details change with how you take payment.
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.
My POS sales never match my deposits. Is that normal?
Yes, and it is the first thing we fix. Card fees, tips, gift cards, delivery apps and timing all create differences. We tie each day's sales to the deposit and explain what is left over.
Can you take over books that are already behind?
Yes. We catch up and clean up the file first, then move to monthly close. How long that takes depends on how far behind the books are.
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.