Keep the booking history with the money
The event date, agreed package, payment schedule, cancellation terms and approved changes explain why cash arrived and what still needs to be delivered. We maintain a booking or deposit schedule that can be reconciled to the ledger. GST timing and revenue recognition require their own analysis.
Supplier deposits, rentals, temporary staffing and food purchases should be tied to the relevant event where practical. Costs shared with regular operations need a consistent allocation so a successful event does not appear profitable merely because another activity absorbed its expenses.
Close the event as a separate step
The final review reconciles the customer balance, vendor credits, gratuities or service charges, staff costs and any damage or cancellation items. Outstanding commitments should remain visible after the event date. A processor settlement alone cannot confirm that every bill has arrived.
Illustrative example: a July corporate gathering
A Calgary caterer collects an advance months before a corporate gathering during the busy summer event period. Equipment hire and menu changes later increase commitments. Tracking those changes against the booking lets the owner see whether additional approval or a revised payment schedule is needed before incurring further costs.
Questions about this work
Is every customer advance treated the same way?
No. Contract terms determine whether an amount is a true deposit, advance payment or another charge. The accounting and GST treatment need to be assessed accordingly.
Can you separate events from regular restaurant activity?
Yes, if the source records identify each activity and shared-cost allocations are agreed. The reporting structure should remain practical for staff to maintain.
Put this into practice
Sources and current guidance
A practical next step
Bring the records you have.
We can identify missing information, agree on the scope and organize the next bookkeeping step.
Request a bookkeeping review