Bookkeeping and Accounting for Bicycle Repair Shops

In need of a bookkeeper and accountant for your bicycle repair shop? We handle your books, freeing up valuable time for you to concentrate on fixing bikes and helping customers. Give us a try for free.

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How Bench works with bicycle repair shops

Keep your focus on fixing bikes, we'll handle the numbers. Get your bookkeeping, income tax prep, and filing done by experts—tailored for your bicycle repair shop and backed by one powerful platform. Bench works seamlessly with bicycle repair shops.

We get you set up

Our experts take the initiative to thoroughly comprehend your bicycle repair shop operations, address your concerns, assist you in connecting your accounts, and demonstrate how Bench functions seamlessly with your business.

We do your bookkeeping

Every month, your dedicated bookkeeper sorts out your bicycle repair shop's transactions and compiles financial statements. Should they require any additional information from you, they'll reach out directly.

We deliver tax-ready financials

Our team of experts is well-versed in the tax rules related to bicycle repair shops and will tailor their approach to cater to your shop's specific requirements.

Here’s why bicycle repair shops like you trust Bench with their bookkeeping and accounting

Get fast, unlimited support from our expert advisors

We'll regularly keep in touch with your bicycle repair shop's bookkeeping status updates. Got urgent questions that need immediate attention? We pledge to return your inquiries within one business day or even less.

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screenshot of Bench support app

Guaranteed accuracy in every detail

Our platform enables you to streamline data inputs from leading providers to prevent routine errors. We work hand in hand with merchants including Gusto, Stripe, Shopify, and Square—ensuring your bicycle repair shop's finances are always spot on.

See where you’re spending. Make smart decisions

Say goodbye to heaps of invoices and tedious manual tallies—we seamlessly automate your financial data from linked accounts. Bench provides bicycle repair shops like yours with a centralized dashboard to easily interpret the fiscal wellbeing of your business, liberating you to make astute and 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 bicycle repair shops

At Bench, we understand the unique bookkeeping needs and challenges of bicycle repair shops. From accounting for inventory and parts to tracking sales of new and used bikes, as well as the constant flow of repair service charges, managing the books can often be a complex process. Specific laws, such as those regarding warranties and aspects of consumer protection, greatly impact your business — even your tax obligations vary from those of other industries. This sector is entwined with detailed sales tax rules, especially when dealing with out-of-state sales of bicycles and parts.

Here's where Bench steps in – our intuitive software combined with a team of human bookkeepers helps simplify the financial process for you. We're experts in handling industry-specific tax filings and stay up-to-date with all relevant laws, ensuring you remain compliant without needing to become an accounting expert yourself. We take on the difficulty of managing your shop's daily transactions, allowing you to focus your time and energy on providing excellent service to your bike-loving community. With Bench, you benefit from a seamless bookkeeping experience tailored specifically for your profession.

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 potentially claim as a bicycle repair shop owner, and how is this accounted for?

As a bicycle repair shop owner, you may be eligible to claim a variety of specific expenses when it comes to your tax return. This can include renting the premises for your shop, the cost of tools and equipment used for your business, employee salaries, advertising costs and so on. To account for these expenses, it's crucial to keep accurate and detailed records, which can be achieved with bookkeeping services. Bookkeepers can ensure your daily transactions are up to date which simplifies the process when it's time to file your taxes. They can also guide you on which expenses can be deducted and how to categorize them appropriately.

Remember, the true amount of deductions you can claim will depend on the specific circumstances of your bike shop, and the specific tax laws in your area. It's always a good idea to consult with a professional bookkeeper or account to ensure you're taking advantage of all applicable deductions.

At Bench Accounting, our bookkeeping services can help you effectively manage your bicycle repair shop's expenses and keep you prepared for tax time.

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How do I manage my bookkeeping considering the fluctuating income and varying costs of bicycle parts and accessories?

Managing bookkeeping with fluctuating income and varying costs, such as those associated with bicycle parts and accessories, can indeed be a challenge. Here are a few tips:

  1. Stay Organized: Keep a record of all invoices, receipts, and financial transactions. Documentation is crucial in bookkeeping.
  2. Regular Monitoring: Regularly review your income and expenses to note any changes and adjust your budget accordingly.
  3. Use Software: Using bookkeeping software can help ensure accuracy, save time, and keep your financial data organized.
  4. Consider a Bookkeeper: Hiring a professional bookkeeper could be a great investment to ensure accurate and timely bookkeeping. At Bench, we provide expert bookkeepers who specialize in different industries, including those with fluctuating incomes and varying costs like in the case of bicycle part businesses.

Remember, effective bookkeeping can provide a real-time picture of your financial health, which can inform better business decisions.

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What is the best way to account for seasonal changes in income in the bicycle repair industry?

The best way to account for seasonal changes in income in the bicycle repair industry is through meticulous bookkeeping throughout the year. This allows you to keep a record of your income pattern and gain an understanding of your peak income seasons.

Income fluctuation is common in industries like bicycle repair, which see spikes in demand during specific seasons. Therefore, careful budgeting is critical. This means setting aside surplus income during the busy seasons to support operations during the slower seasons.

Utilizing the services of a professional bookkeeper can be extremely helpful in managing seasonal income changes. They can provide financial insights, help create a budgeting plan, and ensure that all your finances are accurately tracked and reported, paving the way for a more predictable and stable financial future for your business.

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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 Bicycle Repair Shops

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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