Who does Accountific serve?

Accountific serves food business owners across Canada — including coffee shops, bakeries, food trucks, and restaurants. If you run a food or beverage business and need bookkeeping, payroll, or tax compliance support, Accountific can help.

What bookkeeping services does Accountific offer?

Accountific offers three core services: weekly bookkeeping to keep you informed of your finances in real time, payroll processing covering gross pay, tips, stat holidays, EI, CPP, and CRA remittances, and full tax compliance including GST, PST, payroll deductions, Liquor Tax, and WorkSafe filings.

Does Accountific use Xero?

Yes. Accountific is a Xero Partner. They use Xero's cloud-based accounting software along with automation tools to make the bookkeeping process simple, seamless, and straightforward for food business owners.

How do I get started with Accountific?

Getting started is easy. Book a free consultation at https://calendly.com/davidmonteith to tell David about your business. He will review your specific needs, then engage to set up or review your existing books and automate the process going forward.

How often will my books be updated?

Accountific provides weekly bookkeeping — not annually, not quarterly, and not just monthly. This means you always have an accurate, real-time picture of your business finances.

What is Accountific's process?

Accountific follows a four-step process: (1) Book a consultation to review your specific needs; (2) Engage — begin setting up or reviewing your existing books; (3) Automate — use automation to make the process simple and seamless; (4) Control — accurate, complete books put you in charge of your business finances.

Who is the founder of Accountific?

Accountific was founded by David Monteith, a digital entrepreneur with over three decades of experience in business management, accounting, and small business finance. He is also the CFO of Great Work Online, a digital marketing agency focused on Toast POS marketing activation for independent restaurants in Canada and the US.

Does Accountific handle CRA remittances?

Yes. As part of payroll services, Accountific accurately calculates and submits CRA payroll remittances on time, covering EI, CPP, and income tax deductions.

Blog - Accountific

Why Tips Make Your Restaurant Look Healthier Than It Is

by David Monteith | Aug 10, 2026

Compliance and Profitability in Canadian Restaurants TLDR Tips that run through your restaurant’s bank account are not revenue. They are a liability in transit, money you are holding on behalf of your staff before you pay it out. When you count them in your read...

How Successful Restaurant Operators Are Rethinking Their Tip-Out Payouts

by David Monteith | Aug 3, 2026

Protecting Profit: Guide to Restaurant Tip-Out Chains and Payroll Liabilities TLDR The way you hand out tips decides whether you owe tax on them. Same dollars, same servers, but one method costs you nothing and the other can cost tens of thousands a year. Most...

Secure Your Restaurant’s Future by Correcting These Bookkeeping Habits

by David Monteith | Jul 27, 2026

Stop Flying Blind: How to Clean Up Your Messy Chart of Accounts and Reclaim Your Profit Margin TLDR Your profit and loss statement says you made money last month. Your bank account says you can’t cover Friday’s payroll. Both are telling the truth, and the...

Preventing Theft and Waste in Restaurants

by David Monteith | Jul 20, 2026

The COGS Split: Exposing Theft and Waste in Canadian Restaurants TLDR The average Canadian restaurant survived 2024 on an operating profit margin of 4.1 per cent. Sector-wide, operating revenue reached $99.6 billion against $95.5 billion in expenses, with cost of...

Where Your Restaurant Profits Are Leaking—And How to Plug the Gaps

by David Monteith | Jul 13, 2026

Stop Guessing Where Your Profits Go: The Channel-Segmented Chart of Accounts TLDR You did $100,000 in sales last month. You did $100,000 this month. Nothing changed, so nothing’s wrong. Except dine-in fell $20,000, and delivery picked up the same $20,000....

Stop the DIY Restaurant Bookkeeping Trap: Pivot from Paperwork to Profits

by David Monteith | Jul 6, 2026

The Real Cost of Doing Your Own Restaurant Bookkeeping TLDR You opened a restaurant because you love food and hospitality, not because you wanted to spend your evenings buried in faded receipts and payroll deductions. Most operators handle their own books because they...

Why Your Restaurant Gift Card Program Is a Hidden Cash Flow Strategy

by David Monteith | Jun 29, 2026

TLDR: Converting Customer Liabilities Into Continuous Financial Control Most Canadian restaurant operators treat gift card sales as immediate revenue and absorb the cash directly into operating expenses. The Excise Tax Act and the Income Tax Act treat those...

Secure Your Margins Against CRA Scrutiny

by David Monteith | Jun 22, 2026

Protecting Your Restaurant’s Profit Margin: The Ultimate Defence Against Aggressive CRA Audits TLDR The Canada Revenue Agency actively targets restaurants for unreported cash income using aggressive net worth audits and harsh penalties for point-of-sale...

Are You Exposed? 7 Hidden Insurance Gaps Costing Canadian Restaurants

by David Monteith | Jun 15, 2026

The Hidden Insurance Gaps Leaving Restaurant Owners Personally Bankrupt TLDR Summary Standard commercial insurance policies leave Canadian restaurant owners exposed to catastrophic financial risks. Generic packages routinely omit employment practices liability,...

Why Being Open Seven Days a Week Is Your Biggest Financial Mistake

by David Monteith | Jun 8, 2026

The Financial Case for Closing Your Restaurant One Day a Week TLDR Summary Operating a restaurant seven days a week frequently destroys profit margins by forcing owners to subsidize historically slow days with weekend revenues. By strategically closing on the slowest...