Payroll Services for Restaurants
Hospitality-Specific Financial Services
Unique Restaurant Financial Service Considerations
- Restaurant seasonality. Although many retail establishments also experience seasonal changes, restaurants are subject to seasonality more than most industries. Accounting services with experience in the highs and lows of restaurant seasons understand the nuances of navigating these changes and paying attention to the financial challenges, including seasonal employees and health insurance.
- Tips as wages. Restaurant employees in certain categories can be paid differently than in other positions due to tips’ earning. When choosing an accounting service for restaurant payroll, it is essential to work with a team that has specific restaurant experience if you employ servers whose income is partially tip-based. These unique circumstances can be confusing even for restaurant management, so businesses need to make sure that proper reporting takes place.
- Payroll taxes. While working on payroll services, a financial services company can review the way your taxes are being paid. The goal is to make sure all of the bases are covered while minimizing the burden of the tax requirements. When a professional eye overlooks your payroll and business taxes, you can be assured nothing is missed that can be a future liability.