Restaurant and Bar Accounting Services


US Based

Experts Available

Dedicated Team
Financial help customized for small businesses.
FinancePal is your one-stop-shop for all your tax and accounting needs
By entering your phone number and clicking the “Get Started” button, you provide your electronic signature and consent for FinancePal to contact you with information and offers at the phone number provided using an automated system, pre-recorded messages, and/or text messages. Consent is not required as a condition of purchase. Message and data rates may apply.
When you consider how fast and volatile the restaurant and bar industry can be, it’s easy for things to get lost in the hustle and bustle. And while occasionally messing up a customer’s food or beverage won’t sink your business, neglecting your finances will. If running a restaurant or bar leaves you with little time to focus on your financials, choosing a client-centered, results-oriented accounting and bookkeeping service is integral to ensuring everything is accounted for and your business is on track to achieve its objectives.
Accounting and Bookkeeping Services for Restaurants and Bars:
- Payroll
- Budgeting
- Financial statement preparation
- Financial statements compliance audits
- Asset and staff management
- Management oversight and control
- Accounts payable & receivable
- Internal audits
- Audit defense
- Tax filing
Let us help you take your restaurant or bar to the next level…
At FinancePal, our experienced CPAs and financial specialists know the ins and outs of foodservice industry financials and how to maintain compliance with the IRS while adhering to best business practices. When running a food service business, there are many pressing concerns that command your attention day-to-day. It’s only natural to think of accounting as nothing more than a necessary evil to keep the IRS off your back. However, good accounting is the key to increased cash flow, improved asset management, and better financial decision-making.
Available Tax Deductions for the Restaurant and Bar Industry
In the foodservice industry, there are many opportunities for good accountants to capitalize on the numerous tax deductions available for restaurants and bars. Chief among these are:
Prime costs — ingredients and labor are considered prime costs. A skilled accountant will track your inventory during each accounting period to find available deductions for food costs, ingredients, payroll, and employee benefits.
Assets — kitchens can be full of expensive equipment. Your accountant will track the value of your assets to find available deductions.
Operations — there are many small items to be accounted for under operating expenses, but a skilled accountant will track these meticulously as there are numerous deductions to be found here.
Mileage — if you run a food truck, food delivery service, or catering service, your accountant will set up a mileage tracking system to ensure that your travel expenses are deductible.
Loan interest — this is usually tax-deductible.

The Work Opportunity Tax Credit
You may qualify for a federal tax credit if you hire employees from a certain target group. Your accountant will check to see if any of your hires qualify.
Related Services: Construction Accounting Services, Accounting Services for Startups

Financial Statement Preparation
One of the most important aspects of accounting for any industry is synthesizing financial statements for each accounting period. At FinancePal, our experienced accountants follow best accounting practices to produce concise, easily-digestible financial statements conducive to drawing accurate business conclusions. These insights will be vital to guiding your business through the ever-changing landscape that is the restaurant industry.

Audit Defense
In addition to providing valuable insights to restaurant and bar owners, concise, accurate financial statements can save your business from an IRS audit. While the most common trigger for IRS audits is tax discrepancies, audits can happen seemingly randomly. And in an industry with margins as fine as foodservice, a misstep during the audit process could spell disaster for your bar or restaurant. That is why meticulous bookkeeping and well-crafted financial statements are a vital insurance policy against the heavy fines, penalties, and further inquiries that come with a failed audit.

Staff Management
If you are in charge of a restaurant or bar, you will likely have staff that needs to be compensated. In the foodservice industry especially, many of your employees will be paid hourly — you will have to track overtime. Also, you will have to account for tips when considering employees responsible for customer service. FinancePal will accurately track and report payroll, hours worked, and tips to make annual online payroll tax filing a breeze for your business.
Foodservice professionals know that the restaurant and bar industry is dynamic. That is why foodservice professionals trust the accounting and bookkeeping experts at FinancePal.
For a free consultation and custom quote, click here or call today.


Real estate professionals know that the real estate industry is dynamic and complex. That is why FinancePal is a trusted provider of accounting and bookkeeping services for real estate agents. For a free consultation and custom quote, click here.
Who We Work With
We partner with tech-driven industry leaders to bring advanced financial services to businesses like yours. By aligning with these innovators, we’re able to integrate with other business tools and enhance our service offerings. Some of our prestigious partnerships include:

Quickbooks

Hubdoc

QuickBooks Time

ADP

Gusto

Bill.com
Our Services

Accounting & Bookkeeping

Sales Tax Consulting Services

Payroll Services

Entity Formation

Catch-up Bookkeeping
Don't just take our word for it.
Discussed options for my business with Brian and he was very helpful in suggesting how best to handle it.
So far my experience has been FANTASTIC with these guys. It’s such a relief to have an all in one team servicing yours books, payroll and tax returns for One really great price. Somtiese I fell like a have a boos to answer to when the team is calling to make adjustments..u will never forget… to pay your quarterly taxes with these guys. Hahaah! I currently use them for two businesses and I am completely satisfied with the level of professional device I receive. If you need help with managing your books and payroll give these guys a shout. Read more “Moe Guiragossian”
I have just started my company and needed a company or someone to help and advice me on how to register my company and obtain documents in order to get it going. I contacted Mr. Jason ** of Finance Pal who did it all of which I am very thankful. Furthermore I am going to… get the company and Mr. ** to do my annual tax etc. I will certainly recommend anyone to contact your company. Read more “Roamharan Cedric of Valencia, PA”
Jason is an excellent account rep. He always answers promptly and explains everything. His attention to detail is greatly appreciated and his knowledge base is impressive. I came to Jason as a new business owner who knew absolutely nothing and Jason always took the time to help with even the smallest thing. I would highly… recommend!! Read more “Susan of Wellington, OH”
I own Paradigm Pest Management Inc. I came to Community Tax over a year ago. I had the IRS and the Florida Dept. of Revenue to deal with. Anyone can go into business for themselves. You may know your craft, skill or trade. This doesn’t mean you know how to run a business. It doesn’t… mean you have the discipline to run one. I was flying by the seat of my pants with no checks or balances. Jason ** was assigned as my accountant. He is professional and polite, a trait that seems to be waning in business these days. More importantly Jason is patient and he listens. I’ll admit I am not very good at the business aspect of what I do. I am very good at killing stuff, not so much at the financial aspect of my business. Read more “Dennis (Jim) of Sanford, FL”
I have been working with Jason ** of Finance Pal for about 5 months now, and it has been an absolute pleasure. At first, I was concerned about choosing the right finance specialist to help my company (and myself, personally) with our taxes. We’re so lucky we found Jason. He is extremely knowledgeable, patient, and… clearly explains everything we need to do. I couldn’t be happier with the help and guidance he provides us. Read more “Judd of Chicago, IL”
Jason is a very knowledgeable, detail-oriented and very professional accountant who is a tremendous asset to any organization that engages his services. He always wants to do the right thing, does not hesitate to give candid advice, and is willing to help. Work with Jason if you want a hyper-dependable accountant and want your books… to be well maintained. Read more “Arvind of Chicago, IL”
Jason ** has helped me understand how to get my finances in order, and more importantly under control. He is by far one of the best book keepers & CPA’s in the business. Jason has unique ability to educate his clients and transmit that knowledge, so it is easily understood and put into action. Jason… ** is a professional that any and every person and a business whether big or small can benefit from. Read more “Scottie of Houston, TX”
Finance Pal is very affordable for what they do and I get a lot for my money. They are large so they have a lot of resources to get things done in a timely way. My experience with them has been great and I like their staff. Finance Pal does all our accounting and bookkeeping… services from managing our Xero accounting software account to reconciling bank statements to doing our tax returns. Read more “Brett of Duluth, MN”
Financial help customized for small businesses.
Financepal is your one-stop-shop for all your tax and accounting needs
By entering your phone number and clicking the “Contact Us Today” button, you provide your electronic signature and consent for FinancePal to contact you with information and offers at the phone number provided using an automated system, pre-recorded messages, and/or text messages. Consent is not required as a condition of purchase. Message and data rates may apply.