Bookkeeping and Accounting for Barbershops

Searching for a bookkeeper and accountant specifically for your barbershop? At Bench Accounting, we manage your books, leaving you with more time to perfect your craft. Experience our services risk-free.

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How Bench works with barbershops

Experience hassle-free bookkeeping, income tax prep, and filing done by professionaIs—supported by a robust platform. Bench works seamlessly with barbershops.

We get you set up

Our team devotes time to thoroughly understand the specifics of your barbershop, address your inquiries, assist you in connecting your accounts, and demonstrate how Bench seamlessly integrates with your operations.

We do your bookkeeping

Every month, your specialized bookkeeper arranges your barbershop's transactions and prepares financial reports. If they require any additional information from you, they'll reach out promptly.

We deliver tax-ready financials

Our team of experts is well-versed in barbering industry tax norms and will tailor their strategy to your barbershop's specific requirements.

Here’s why barbershops like you trust Bench with their bookkeeping and accounting

Get fast, unlimited support from our expert advisors

We'll keep in touch consistently with financial updates tailored for your barbershop. Have urgent inquiries about your barbershop finances? Rest assured, we'll respond to your queries in a business day or less.

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screenshot of Bench support app

Guaranteed accuracy in every detail

With Bench Accounting, your barbershop business can automate data inputs hailing from the major service providers, thereby minimizing the risk of errors. We're in collaboration with well-known merchants such as Gusto, Stripe, Shopify, and Square—guaranteeing that your financial records are always precise and up-to-date.

See where you’re spending. Make smart decisions

Bid farewell to heaps of receipts and laborious manual record-keeping—we streamline inputs directly from your connected accounts. Gain insights from a unified dashboard, enabling you to effortlessly grasp the financial state of your barbershop and make strategic decisions.

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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

“Bench helped me replace QuickBooks, and save about 6 hours per month of horrible accounting work, which is priceless.”

CHRIS RONZIO

CEO, TRAINUAL
“This is the first year where it’s tax season and I don’t feel anxious one bit.”

DR. BUKKY KOLAWOLE

FOUNDER/EXECUTIVE DIRECTOR, RELATIONSHIP HQ
“Bench has lifted a giant weight off my shoulders and freed up my time so I can focus on earning money and working with clients, meetings and calls.”

HEATHER SHOLL

FOUNDER, THE VILLAGES GYM
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We know bookkeeping for barbershops

Bench offers tailored bookkeeping solutions for barbershops, taking care of the unique financial concerns typical for this industry. With frequent cash-in-hand transactions, equipment depreciation, and tip income to manage, bookkeeping for barbershops can become complex. Bench simplifies this complexity using an intuitive software suite handled by human experts. This, coupled with our understanding of industry-specific tax codes, tax benefits, and state-specific laws, ensures that your financial records are accurate, up-to-date, and compliant with all regulations. We keep track of your earnings, expenses, tips and VAT where applicable, ensuring correct GST/HST calculations, so you can focus on offering your excellent service.

Additionally, labor laws, such as classifications for independent contractors versus employees, often present confusion for barbershop owners. Bench can assist you in ensuring your employee records are in order from a financial perspective. Our bookkeepers have a deep understanding of tax obligations and categories applicable to barbershops, helping you properly allocate funds for tax time and potentially save money through overlooked deductions. With Bench, you get a personalized, industry-specific, and professional service, paving the way for better-informed business decisions and a stronger financial future for your barbershop.

Simple, straightforward pricing for everything your business needs.

Get bookkeeping, tax prep, advisory, and filing with Bench's powerful, easy-to-use platform.

Choose Plan

Essential

Best for those looking for peace of mind and accurate financials done by professional bookkeepers.
$249/mo

billed annually

Dedicated bookkeeping experts
Accurate monthly books and year-end tax-ready financial packages
P&L, balance sheet and 1099 reporting
Unlimited communication with your bookkeeping team

Premium

Best for those looking for an all-in-one bookkeeping, tax advisory and income tax filing service.
$399/mo

billed annually

Everything in Essential plan
Dedicated team of licensed tax professionals to file your income tax return on time
Annual income tax filing for businesses (partnerships, S corps, C corps)
Annual income tax filing for individuals (sole proprietors, contractors)

Essential

Best for those looking for peace of mind and accurate financials done by professional bookkeepers.
$299/mo

billed monthly

Dedicated bookkeeping experts
Accurate monthly books and year-end tax-ready financial packages
P&L, balance sheet and 1099 reporting
Unlimited communication with your bookkeeping team

Premium

Best for those looking for an all-in-one bookkeeping, tax advisory and income tax filing service.
$499/mo

billed monthly

Everything in Essential plan
Dedicated team of licensed tax professionals to file your income tax return on time
Annual income tax filing for businesses (partnerships, S corps, C corps)
Annual income tax filing for individuals (sole proprietors, contractors)

Frequently Asked Questions

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What specific expenses can I claim for tax deductions as a barbershop owner?

As a barbershop owner, you have the ability to claim a variety of expenses for tax deductions. Some of these expenses include:

  • Supplies like razors, scissors, combs, chairs, towel warmers, and hair products
  • Rent or mortgage interest if you own the premises
  • Utilities such as electricity, water, and phone services
  • Marketing and advertising costs
  • Services like cleaning, maintenance, and salon software
  • Insurance and licenses
  • Employee wages and benefits
  • Continuing education and training
  • Depreciation on equipment

It's important to note that this is not an exhaustive list, so it may be beneficial to seek advice from an expert in accounting to guide you about what can and cannot be claimed. Always remember to keep excellent records of all of your expenses for easier tax time documentation.

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How should I manage the cash flow for a barbershop, considering the high customer volume and low cost transactions?

Managing cash flow in a barbershop with a high volume of low-cost transactions can be an ongoing challenge but can be made easier with some tried-and-true strategies. First, make use of a digital financial management system or virtual bookkeeping service that can handle the volume of transactions and give you real-time financial visibility. This helps in tracking every transaction accurately and enables you to see where the money is going and coming from instantly. Secondly, consider implementing cashless payments for convenience and increased financial accuracy. Lastly, engage a proficient bookkeeper who understands the unique dynamics of your business and can provide appropriate financial advice and solutions.

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What is the best way to handle payroll for my barbershop staff, especially when it involves tips?

The best way to handle payroll for your barbershop staff, especially when it involves tips, is to use a reliable payroll system. This payroll system should be able to factor in hourly wages, commissions, and tips that your staff receives. It is also critical to ensure that the system can accurately report these amounts to the Internal Revenue Service (IRS).

Tip income is taxable, therefore, your employees must report tip income on their tax returns. It's your responsibility as the employer to make sure that taxes are properly withheld from your employees' paychecks. You can either account for the tips in your payroll system or have your employees report their tips to you, for which you will then calculate the necessary withholdings.

Moreover, since payroll involves many complicated processes, you can consider outsourcing to a payroll service or hiring a bookkeeper. They can help with tax withholding calculations, paycheck processing, tax form preparation and other payroll-related tasks.

If you're unsure about how to handle payroll for your barbershop staff, it's best to seek professional advice. A bookkeeper or accountant can guide you through the process, ensuring that you're in compliance with all the necessary regulations and requirements.

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Does Bench outsource bookkeeping?

Nope! All bookkeeping is completed in-house.

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Will I have one point of contact?

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.

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How much time each month will I have to spend managing my Bench account?

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 Barbershops

Sign up for a Bench trial, and get one month free. If you decide to go with us, we’ll take bookkeeping off your plate—for good.

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