Running a restaurant is already tough enough—bookkeeping shouldn’t make it tougher.
Singapore’s F&B industry is a fast-paced battlefield. From front-of-house to kitchen, everything needs close attention. Delivery platforms keep multiplying, supplier prices change frequently, and staff turnover remains high. If your bookkeeping can’t keep up, errors can easily creep in—affecting your cash flow and tax compliance.
The good news? Bookkeeping isn’t as complicated as it seems. With a few practical habits, you can keep things clear, consistent, and compliant.
The 10 tips below are drawn from common accounting challenges faced by local restaurants. Whether you're just starting out with a small independent eatery or managing multiple outlets, you’ll likely find something here that helps you run your numbers better.
- Categorise income by channel—it matters more than you think
Delivery platforms, dine-in sales, deposit prepayments, corporate catering... Each revenue stream comes with its own settlement method and payment timing. If you lump them all together, reconciling bank transactions, identifying errors, or analysing sales performance becomes difficult.
Start by recording income separately by source. Not only will this make it easier to match with your bank statements, it’ll also help you track how each revenue line is really performing—making it easier to adjust business strategies.
- Reconcile your bank transactions regularly—don’t wait till month-end
Many restaurant owners only look at their accounts at month-end. But by then, if a supplier was accidentally paid twice or a delivery platform underpaid, tracing the issue becomes a headache.
Build a habit of doing weekly reconciliations. Even a quick scan of your bank statement to check for any unusual entries is far better than letting issues pile up.
- Log ingredient purchases on the day itself
Most kitchens receive multiple deliveries a day—especially in Chinese or cafe-style operations that rely on fresh ingredients. If you don’t store the receipts or invoices promptly, it’s easy to forget the supplier, amount, or purpose.
Set up a simple system: take a photo, note the details, and upload it the same day. Even ad-hoc purchases will be traceable, and calculating total ingredient costs at the end of the month becomes much clearer.
- Stop relying on WhatsApp for staff reimbursements and petty expenses
Staff running out to buy seasoning, swapping out takeaway boxes, or calling a last-minute technician—these things happen daily. If there’s no standard way to log these expenses, they’re easily lost or duplicated.
Create a simple submission channel (even a Google Form will do), and ask staff to upload a photo and describe the purpose. You’ll save yourself the trouble of scrolling through group chats at month-end.
- Sort out GST classifications from the start
If your annual revenue exceeds S$1 million, GST registration is mandatory. When it comes to filing, both input and output taxes must be clearly categorised and supported with documentation. Many penalties stem from misclassification.
From day one, categorise your invoices and revenue streams by “GST applicable / non-applicable” and “local / overseas suppliers.” This will significantly reduce errors down the line.
- High sales ≠ high profit—you need visibility into cost volatility
You can’t estimate gross margins on gut feel. Even if a dish sells well, profits may shrink if ingredient prices fluctuate or labour costs creep up.
Review the cost structure and procurement trends of each menu item regularly. You’ll gain sharper insight into what’s truly profitable—and what just looks like a best-seller but isn’t earning much.
- Don’t forget wages, allowances, and casual worker pay
Many small restaurants only log payroll as bank transfers, overlooking cash incentives or hourly pay for temp staff. Over time, this skews your financial data—and can lead to compliance issues.
Set up a “master payroll file” that records everything, regardless of whether it’s full-time, part-time, cash, or transfer. Keep it consistent and accessible.
- Align your cash flow planning with seasonal shifts
F&B sales fluctuate with school holidays, public celebrations, and religious observances. For example, Chinese New Year brings in surges, while Ramadan often sees quieter periods.
Review your sales and spending patterns from the same month in previous years. This helps you better plan purchasing, manpower, and working capital for what’s ahead.
- Run a “mock tax season” a month or two in advance
Too many business owners only start sorting their accounts during tax season—only to discover missing invoices, GST misclassifications, or revenue mismatches.
Export a trial balance and profit & loss report one to two months in advance. That early check gives you time to fix issues while they’re still manageable.
- You don’t need to be an accountant to manage your books—just the right method
You don’t need to understand double-entry to keep your restaurant’s accounts in order. What you do need is a simple, structured way to record transactions—and a reliable tool to handle the repetitive, time-consuming parts. That way, you can focus on food and customers, not spreadsheets.
Making bookkeeping as easy as cooking your best dish
Bookkeeping has never been just about compliance. It’s an integral part of day-to-day restaurant operations—linking ingredients, sales, and staffing to the real picture of your profit. When done right, it’s not just about filing taxes. It’s about knowing your business inside out, and making better decisions with confidence.
Of course, in the real world, restaurant owners are busy. The pace is fast, the variables many. Manual entries and constant double-checking can slow things down—or even make you want to avoid bookkeeping altogether.
If you're looking for a more effortless and reliable way to manage your finances, a smart solution like ccMonet might be worth considering. It can help turn bookkeeping from a burden into a breeze—reducing your workload and increasing the value of your data:
- Snap a photo of any receipt or invoice—regardless of currency, language, or handwriting—and the system auto-categorises it;
- Sales, purchases, and staff expenses all processed in one unified platform;
- Automatically generates reconciliation reports, profit & loss statements, and GST summaries—saving hours of admin time;
- Even if you’re not trained in finance, you’ll understand your cash flow, profit, and cost breakdowns at a glance.
Try ccMonet now. Let finance go back to what it’s meant to be—not a burden, but the foundation for better decisions.
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