Bookkeeping and Accounting for Appliance Repair Shops
Need a bookkeeper and accountant for your appliance repair shop? We handle your books, giving you more time to focus on fixing appliances. Sign up today and get a free month of bookkeeping.
How Bench works with appliance repair shops
Empower your Appliance Repair Shop today with precise bookkeeping, expert income tax preparation, and professional filing—all through one robust platform. Bench seamlessly integrates with your business operations.
We get you set up
Our team takes the time to fully comprehend your appliance repair shop, respond to your inquiries, assist you in connecting your accounts, and demonstrate how Bench can work for your business.
We do your bookkeeping
Each month, your dedicated bookkeeper will sort through your appliance repair shop's business transactions and compile detailed financial statements. If any additional information is needed, rest assured they will reach out to you.
We deliver tax-ready financials
Our squad of astute accountants understands the intricacies of appliance repair shop taxation and will tailor their approach to fit your business' specific needs.
Here’s why appliance repair shops like you trust Bench with their bookkeeping and accounting
Get fast, unlimited support from our expert advisors
We'll regularly communicate with you regarding your appliance repair shop's bookkeeping updates. Have urgent inquiries that simply can't wait? Be assured, we'll respond to you within one business day or even less.
Guaranteed accuracy in every detail
Our platform enables appliance repair shops to automate data entry from multiple industry-leading providers, eliminating frequent errors. We have partnerships with service providers such as Gusto, Stripe, Shopify, and Square—ensuring your financial records are consistently precise.
See where you’re spending. Make smart decisions
Wave farewell to the mounds of invoices and burdensome manual record-keeping—we automate inputs straight from your connected accounts. Get your business insights from one centralized dashboard designed for appliance repair shops, enabling you to effortlessly gauge the health of your business and make effective strategic decisions.
Bench integrates with your favorite small business tools
We sync seamlessly with your financial accounts and tools to keep your books up-to-date and save you the time and effort of manually uploading documents.
Trusted by 25,000+ American small business owners
CHRIS RONZIO
DR. BUKKY KOLAWOLE
HEATHER SHOLL
We know bookkeeping for appliance repair shops
For Appliance Repair Shops, Bench Accounting understands the unique blend of sales, labor, and the repair services involved. We're familiar with the specific tax deductions you can claim, from products and parts inventory to tools and equipment, to travel expenses for those house calls. When you need to offset revenue with costs, we're on your side, well-versed in the industry-specific guidelines to optimize your tax portfolio.
Bench not only excels in providing you excellent tax services but extends its efficacy in sorting out common bookkeeping issues related to appliance repair shops. We realize that tracking job costs, inventory management and separating materials from labor on invoices can be a hassle. Our user-friendly software, coupled with an experienced team of bookkeepers, maintains clean financial statements for your shop. We'll take the confusion out of recording payroll for your technicians, or distinguishing between capital expenditures and repair costs. We offer an unparalleled blend of technology and human expertise to take care of your bookkeeping, so you can focus on fixing appliances, not crunching numbers.
Simple, straightforward pricing for everything your business needs.
Join over 35,000 US-based business owners who have streamlined their finances and have grown their businesses with Bench.
Choose Plan
Bookkeeping
billed annually. 100% tax deductible.
Bookkeeping & Tax
billed annually. 100% tax deductible.
Bookkeeping
billed monthly. 100% tax deductible.
Bookkeeping & Tax
billed monthly. 100% tax deductible.
Frequently Asked Questions
Running an appliance repair shop comes with unique accounting considerations. Here are a few specific practices you may need to think about:
- Inventory Management: Parts and supplies for appliance repairs must be meticulously tracked. Your bookkeeper should always have a clear picture of your inventory to determine costs, identify reorder points, and assess inventory turnover.
- Job Costing: Each repair job can have different costs depending on the time spent, parts used, and the technician's rate. Your bookkeeper needs to accurately allocate costs to each job to pinpoint profitability.
- Depreciation: Your business likely owns various expensive tools and equipment. Your bookkeeper should handle the depreciation of these assets correctly to balance your books and to aid in tax deductions.
- Revenue Recognition: Depending on your billing structure, you may need to recognize revenue in different ways. Your bookkeeper will need to understand when to recognize revenue from repairs, warranties, and maintenance contracts.
Note that every business is unique, and your accounting needs may vary. At Bench, our expert bookkeepers will work with you to understand your business and customize our services to your needs.
Some of the most common tax deductions available for an appliance repair business include:
- Business-related vehicle mileage
- Tools and equipment required for repairs
- Office expenses, such as rent, utilities, or a home office deduction
- Insurance and liability coverage
- Continuing education and certification
- Marketing and advertising expenses
- Employee salaries and benefits, if applicable
It is advisable for businesses to keep detailed records of these expenses throughout the year to simplify the tax filing process. Consulting with a professional bookkeeper or accountant is also highly recommended to ensure all deductions are accurately handled and the maximum benefits are obtained.
Managing the inventory costs of spare parts in your appliance repair shop's bookkeeping can be accomplished by incorporating a dedicated inventory management system. This can track the purchase, storage, and usage of spare parts. Each time you buy or use a spare part, record it in the system. The costs of these parts are then integrated into your overall bookkeeping system. These costs can be tracked as both a direct cost of providing your repair services and as an operational expense, depending on the accounting methods you choose to use.
Inventory management can sometimes be complex, so using professional bookkeeping services can greatly help in accurately tracking these costs. An expert bookkeeper can provide guidance and manage this aspect of your finances, facilitating the reconciliation of your inventory and ensuring your books are always up-to-date. With Bench Accounting, you can be sure to have professional help to manage your inventory costs efficiently and effectively.
Nope! All bookkeeping is completed in-house.
Your bookkeeper will be your main point of contact, but at times you might hear from another member of your team. This is usually when your bookkeeper goes on vacation, is sick, or otherwise unavailable.
We handle the bookkeeping for you but sometimes we’ll need your input, especially at year-end. On average, expect to spend 15 minutes each month answering questions for your bookkeeper, or uploading supporting docs.
Bookkeeping Services for Appliance Repair Shops
Discover how we can help you have better finances with a personalized demo from a Bench expert, ready to answer all your questions. Sign up as a customer today and get a free month of bookkeeping, valued at $299.
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