The restaurant industry is both exciting and diverse – but also demanding when it comes to accounting and financial management. High-paced operations, numerous transactions, cash handling, tips, different VAT rates, seasonal fluctuations, and varying staffing levels make it one of the most complex industries to manage from a financial perspective.
Many restaurant owners are experts in food and service but often find that financial management consumes too much of their time and resources. That’s where we at Leinonen come in – we know the restaurant business and have extensive experience supporting restaurants with accounting, payroll, and advisory services. Your accounting is always up to date, and you get the support you need to focus on what you do best: creating great customer experiences.
In this article, we’ll walk you through some of the unique accounting and payroll challenges in the restaurant industry.
An Accounting System That Fits Restaurants
We recommend Tripletex as the accounting system for restaurants. It’s a flexible platform that includes everything you need in one place – accounting, invoicing, time tracking, payroll, and integrations with Cash register systems.
Tripletex also has a user-friendly app that allows employees to easily register hours and link them directly to projects or departments. The system includes functionality for scheduling, inventory management, and stock movement reporting.
We take care of all the administrative aspects of the software license, ensuring that your package contains the right features for your restaurant.
Multiple VAT Rates – Important to Get Right
Restaurants follow the same rules for VAT registration as other industries: once your turnover exceeds NOK 50,000 within a 12-month period, your business must be registered in the VAT Register.
What sets restaurants apart is the use of different VAT rates:
- 25% for food and beverages served in the restaurant
- 15% for takeaway and catering
This requires accurate bookkeeping and the correct setup in the Cash register systems. In Tripletex, you can easily activate separate VAT codes for different types of sales, ensuring correct and efficient reporting.
Tips and Cash – Avoid Mistakes
Tips are a natural part of restaurant operations and must be recorded and reported correctly – for tax, employer contributions, and via the a-melding (mandatory payroll reporting in Norway). The Norwegian Tax Administration has strict requirements for how tips and cash must be handled, so it’s crucial to have solid routines for counting and bookkeeping.
Keep in mind: employers are not allowed to deduct employer contributions or administrative fees from employees’ tips. This is an area where mistakes are common – we make sure everything is handled correctly from day one.
Payroll, Shifts, and Seasonal Changes
With many part-time employees and irregular working hours, payroll processing in the restaurant industry can be challenging. Shift schedules, overtime, holidays, vacations, and seasonal changes must all be managed efficiently and accurately.
We have the systems and expertise to ensure your employees are paid correctly – and on time – every single month. Mistakes in payroll create unnecessary stress and can damage your work environment. With us on your team, you avoid that risk.
Cash register systems
Modern restaurant accounting should be integrated with your cash register system. When this is set up correctly, you gain better control, reduce manual tasks, and get fast access to key figures like daily turnover, best-selling dishes, and profit margins. This gives you a solid foundation for making informed business decisions.
We Know the Restaurant Industry – and Help You Succeed
Our employees have worked closely with restaurants for many years and know what it takes. We don’t just do the bookkeeping – we’re your advisor and sparring partner. We help with everything from hiring and drafting new contracts to financial optimization and support in communication with public authorities.
Contact us
Do you want a partner who truly understands the restaurant industry and can help you increase profitability and ensure reliable financial management? Then you’re warmly welcome to Leinonen.
Contact us – and let’s get started. We’ll tailor an accounting solution that fits your restaurant perfectly, regardless of your concept or ambitions. We’re here to make your everyday life easier – and more profitable.
