You Run the Restaurant. We'll Run the Numbers.
Restaurants run on thin margins, high transaction volume, and constant staffing challenges. The last thing you need is an accountant who doesn't understand your industry — or who only shows up at tax time. We handle the books, the tipped payroll, and the tax planning so you can stay focused on filling seats and managing your food cost.
The Accounting Challenges Restaurants Actually Face
Sales tax and tip reporting are a moving target
Multiple revenue streams, exempt vs. taxable items, tipped employee reporting, FICA tip credits — restaurants have more sales tax and payroll compliance to manage than almost any small business. Getting it wrong is expensive.
You don't know your food cost or labor cost in real time
You know roughly. You feel like it's "around 30%." But until you see it on a P&L structured to break out prime cost, you're guessing — and a 2-3% drift on either side is the difference between a profitable month and a break-even one.
Tax planning happens after the fact
You bought new kitchen equipment in November, but no one talked to you about Section 179 or how to structure the buildout deduction before you signed. The expense is still there — but the planning opportunity is gone.
Cash flow is unpredictable and stressful
Slow weeks, surprise repairs, seasonality — restaurant cash flow has more spikes and dips than most businesses. Without 90-day visibility, you're managing payroll Friday morning instead of three weeks out.
What Goes Wrong When Restaurants Use a General Accountant
Most general accounting firms are perfectly competent — for general businesses. But restaurants have quirks that don't show up in retail or professional services. Here's what we typically see when restaurant owners switch to us from a non-specialist firm.
The P&L doesn't show food cost or prime cost
A standard chart of accounts groups COGS into one bucket. A restaurant P&L should separate food cost, beverage cost, and labor — and show prime cost as a single line. Without that, you can't tell whether you're profitable until it's already too late.
The FICA tip credit gets missed or claimed incorrectly
The FICA tip credit alone can be worth thousands of dollars per year on a tipped-employee restaurant — but only if payroll and books are set up to capture it. General firms often miss it entirely or claim it inconsistently.
Sales tax filings get reactive instead of proactive
Restaurants in IL and WI have monthly sales tax obligations plus complications around exempt sales (catering), alcohol licensing rules, and takeout/delivery treatment. A general firm files what you give them. A restaurant-experienced firm flags issues before the state does.
Equipment and buildout deductions get left on the table
Kitchen equipment, leasehold improvements, smallwares — restaurants spend heavily on fixed assets, and Section 179 plus bonus depreciation strategy can save real money. General accountants often default to the simplest path, not the best one.
The relationship is reactive, not proactive
You call them — they don't call you. No mid-year planning, no equipment strategy, no review of how you're paying yourself. You're paying for filing services and calling it a relationship.
Accounting Services Built for Restaurants
Everything your restaurant needs — handled by one team that knows your industry.
Monthly Bookkeeping
High-volume transaction reconciliation, POS-to-bank tie-out, and a P&L structured to show food cost, labor cost, and prime cost clearly.
Tax Preparation & Planning
Business and personal returns, FICA tip credit optimization, Section 179, and year-round planning to minimize what you owe.
Payroll & Tip Reporting
Tipped employee payroll through Payroll Freedom — tip credits, FICA tip credit, overtime, and compliance handled accurately every cycle.
Food & Labor Cost Tracking
Monthly P&L built around the metrics that matter — food cost %, labor %, and prime cost — so you can manage by the numbers.
Sales Tax Filings
Monthly Illinois and Wisconsin sales tax filings, exempt-sale tracking, and proactive compliance review so you're not getting state notices.
Retirement Plans
SEP-IRA, Solo 401(k), and group plans to help you build personal wealth while reducing your taxable income.
We Work With All Types of Restaurant & Food-Service Operators
From independent full-service to multi-location groups — if you serve food or drinks in Illinois or Wisconsin, we know your world.
What to Look For in a Restaurant Accountant
Not every CPA firm is set up to serve restaurants well. If you're evaluating accountants — whether or not you end up choosing us — these are the five things worth checking before you sign anything.
Real experience with restaurant clients
Ask how many restaurant or hospitality businesses they currently serve. A firm with one or two casual restaurant clients won't know how to structure your P&L for prime cost or how to optimize the FICA tip credit. Industry depth matters.
Tip reporting and tipped payroll expertise
Tip credits, FICA tip credit, tip pooling rules, overtime on a tip-credit wage — restaurant payroll is one of the most complex in any industry. Your firm should be able to explain how they handle each of these without hesitation.
Proactive communication — not just tax season
You should hear from your accountant year-round, not just in March and April. Ask: "What does monthly contact actually look like?" If the answer is vague, the answer is "almost none."
Modern technology — ideally QuickBooks Online with POS integration
QBO connects to your bank, your credit cards, your POS, and your payroll. If your accountant still wants you to mail in stacks of receipts every month, your books will always be 60 days behind reality — which is too late for a restaurant.
Transparent pricing
You shouldn't have to wait through three discovery calls to find out what something costs. A firm that publishes its pricing structure (or at least gives you a clear estimate after one conversation) respects your time and is confident in its value.
How Accounting Freedom Stacks Up Against That Checklist
We've been working with restaurants in Illinois and Wisconsin for over 40 years. Here's how we score on the five-point checklist above — judge for yourself.
Decades of restaurant experience
Restaurants and hospitality have been a core part of our client base since 1981. We know how to read a restaurant P&L, manage tipped payroll correctly, and structure your books around the metrics that actually run your business.
Year-round, not just March–April
You're assigned a dedicated Client Advisor who knows your business. Monthly check-ins, quick response to questions, and proactive outreach when something needs your attention.
We live in QuickBooks Online
QBO is our default. We integrate with most major restaurant POS systems and work directly in your file — books current in real time, not 60 days behind.
One firm for accounting, tax, payroll & planning
Through Accounting Freedom and Payroll Freedom, you get every back-office service under one roof — coordinated by one team, with no dropped handoffs.
What Does Restaurant Accounting Cost?
We believe you should be able to estimate what working with us costs without filling out a form or waiting for a sales call. Here's how our pricing works for restaurants.
Three tiers — Core, Core+, and CorePro
Most restaurants fit into one of our three packages depending on how much support you want. Core covers monthly accounting, sales tax filings, and business tax compliance. Core+ adds proactive tax planning, FICA tip credit optimization, and a monthly advisory relationship — most independent restaurants land here. CorePro adds 90-day cash flow forecasting, KPI dashboards, and a full annual business review — common for multi-location operators.
Your final price depends on transaction volume, number of bank and credit card accounts, number of locations, and payroll complexity. A typical single-location restaurant will fall somewhere between our Core and Core+ starting prices, plus complexity adjustments based on your specific operation.
The fastest way to get a real number for your business is the Pricing Calculator — it walks through the same questions we'd ask on a discovery call and gives you a customized estimate in under three minutes.
Restaurant Accounting Questions We Hear Often
Let's Talk About Your Restaurant.
Schedule a free consultation. We'll walk you through how we can take the accounting burden off your plate — so you can stop chasing your books and start managing your margins.
Illinois: 847-949-8373 | Wisconsin: 262-375-2440