Bookkeeping and Accounting for Costume Stores

Seeking a bookkeeper and accountant for your costume store? At Bench Accounting, we manage your books, leaving you more time to focus on finding the perfect outfits for your customers. Try us for free.

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How Bench works with costume stores

Get your bookkeeping, income tax prep, and costume inventory sorted by experts—backed by one powerful platform. Bench works flawlessly with costume stores.

We get you set up

Our team takes the time to truly comprehend your costume store, answer any inquiries you may have, assist you in connecting your accounts, and demonstrate how Bench can streamline your bookkeeping processes.

We do your bookkeeping

Every month, your dedicated bookkeeper sorts out your costume store transactions and compiles financial reports. Should they require any further information from you, they will promptly reach out.

We deliver tax-ready financials

Our specialized team is well-acquainted with Costume stores and their distinct tax factors. We tailor our approach to perfectly fit the unique requirements of your business.

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

Get fast, unlimited support from our expert advisors

And just in case, we're always connected to provide the latest on your bookkeeping status. Got urgent queries that can't be stalled? For costume stores like yours, we guarantee a response within one business day, or even less.

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screenshot of Bench support app

Guaranteed accuracy in every detail

Bench Accounting streamlines the process of digital bookkeeping for your costume store by automating data inputs from leading providers, helping to prevent common errors. We partner with renowned merchants such as Gusto, Stripe, Shopify, and Square, ensuring that your store's finances are consistently precise. Harness the power of Bench for a seamless bookkeeping experience.

See where you’re spending. Make smart decisions

Wave farewell to towering stacks of receipts and the hassle of manual record-keeping—we automate entries straight from your linked accounts. Garner insights all from one central dashboard, allowing you to easily comprehend the financial status of your costume store and make informed business 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 costume stores

Running a costume store, especially an online one, presents its unique challenges when it comes to managing finances. Industry-specific tax laws, inventory management, and seasonality are just a few of the issues that can lead to bookkeeping errors and missed business opportunities. Bench has worked extensively with costume stores, understanding the ebb and flow of sales and the particular tax implications tied with such a seasonal business, providing accurate and timely financial reporting.

At Bench, we believe in making bookkeeping hassle-free for costume store owners so they can focus on what they do best—providing amazing costume designs and exceptional customer service. Our intuitive software combined with our expert bookkeeping team understands the intricacies of your business including retail margins, inventory write-offs, and the timing of revenue recognition. We ensure that your books are meticulously maintained while adhering strictly to industry-specific tax laws. We also help you prepare for tax season, leveraging our understanding of deductions that can save you money such as costs related to design, production, advertising, and more. Trust Bench to handle your bookkeeping, so you can get back to creating memorable outfits for your customers, while confidently knowing your finances are in good hands.

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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I own a costume store; how can I effectively keep track of inventory for tax purposes?

As a costume store owner, effectively managing inventory for tax purposes can be simple with a systematic approach. Here are some recommended steps:

  1. Create a SKU: Assign a Stock Keeping Unit (SKU) to each item in your inventory. This would be unique identifiers to track your products for inventory purposes.
  2. Conduct regular audits: Routinely perform physical counts of your inventory. You could consider doing cycle counts where you count a portion of your inventory in a specific area each day.
  3. Use inventory management software: A reliable software can help manage your inventory in real-time. It can track sales, orders, and deliveries, ensuring that your records are always up to date.
  4. Work with an accountant or a bookkeeper: They can help to ensure your inventory records are accurate and that appropriate methods for accounting inventory are in use. They'll ensure that end-of-year tax reports are complete and correct.

Checking your inventory and keeping it up-to-date can be a lot of work, but it’s essential for the accurate calculation of cost of goods sold and subsequently, gross profit. Accurate inventory counts can also prevent theft and loss. With Bench Accounting, you can get help managing all of these details and more, so you can focus on running your costume store.

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Are there specific tax deductions or credits available for costume stores?

Yes, there are various tax deductions and credits costume stores might be eligible for. These often include deductions for necessary business expenses such as rent, utilities, inventory costs, advertising and marketing costs, and employee salaries. In addition, there may be specific tax credits available depending on the store location and other factors. However, tax law is complex and can change frequently, so it's essential to consult with a professional bookkeeper or accountant familiar with your specific situation to ensure you're taking advantage of all eligible deductions and credits.

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As costume demand can be seasonal, how can bookkeeping services help manage cash flow throughout the year?

Bookkeeping services play a crucial role for businesses with seasonal demand such as a costume business. With their help, you can carefully monitor your income and expenses throughout the year and identify spending trends. This knowledge helps you plan ahead, ensuring you have the necessary funds during your peak seasons to cover increased costs such as additional stock or staff.

Moreover, a good bookkeeper can assist you with accurate forecasting, helping you to anticipate the cyclical highs and lows in cash flow. You can thereby strategize borrowing or reserving resources during more prosperous times to weather periods of negative cash flow.

Additionally, consistent bookkeeping allows you to timely meet your tax obligations, avoiding penalties that could disrupt your cash flow. Overall, bookkeeping services aid you to maintain a healthy cash flow, building a financially stable and resilient costume business all year round.

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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 Costume stores

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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