Retail Accounting Services

You love your store! You carefully curate your selection of merchandise. You enjoy getting to know your customers. You’re passionate about providing exceptional customer service. You cultivate team members who also share these values. You like everything about your business . . . except when it comes to your accounting and bookkeeping!

There are so many things that are vital to track in a retail business. Tracking sales, inventory and expenses top the list. Many retail stores have a complicated sales flow generated by both in-store and online sales. With the sales information coming in from multiple POS and sales channels (Amazon, Square, Stripe, PayPal, etc.) many retail store owners unknowingly overstate their income. The result can be overpaying both income tax and sales tax. We work with your sales systems to keep that from happening to you!

Another important aspect of retail accounting is tracking the different types of merchandise that you sell. For example, in Penny’s year-round Christmas shop, she wanted to track the major categories of ornaments, artificial trees, collectible nutcrackers, and nativity sets. This can be done in QuickBooks a number of different ways. Tracking sales by merchandise type can help you make decisions about the best merchandise mix for your store and determine where your shrinkage is happening most.

Bookkeeping Services for Retail Stores

At Bespoke Bookkeeping, we understand retail stores! Penny has set up, owned and operated multiple different types of retail stores. Helping to untangle your sales flow is just one example of the bookkeeping services we can tailor to fit your business. Click HERE to schedule a day and time to chat with Penny about your retail store and your bookkeeping needs. The only thing it will cost you is 30 minutes of your time.