Bookkeeping and Accounting for Craft Supply Stores

Seeking a bookkeeper and accountant for your craft supply store? We manage your books, giving you more time to focus on supplying and inspiring creativity. Try us for free.

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How Bench works with craft supply stores

Unlock your creative potential by leaving the numbers to us. From bookkeeping and income tax prep to filing, Bench Accounting is a trusted partner for craft supply stores—powered by one reliable platform.

We get you set up

Our team dedicates time to fully comprehend your craft supply store, resolve your queries, assist you in connecting your accounts, and guide you on how Bench operates.

We do your bookkeeping

Every month, your dedicated bookkeeper categorizes your craft supply store transactions and prepares comprehensive financial statements. If they require any information from you, they'll promptly get in touch.

We deliver tax-ready financials

Our team of experts is proficient with the specific tax rules that apply to craft supply stores, and will tailor their services to your business' distinct requirements.

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

Get fast, unlimited support from our expert advisors

At Bench, we understand the unique needs of craft supply stores and are committed to providing regular bookkeeping updates. Should you have urgent queries that need immediate answers? Rest assured, we'll get back to you within one business day or less.

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screenshot of Bench support app

Guaranteed accuracy in every detail

Our software lets you automate data inputs from leading providers to prevent typical errors. We collaborate with popular retailers such as Gusto, Stripe, Shopify, and Square—thus ensuring your craft supply store's finances are consistently precise.

See where you’re spending. Make smart decisions

Wave farewell to stacks of invoices and tiresome manual tracking—we automate inputs straight from your connected accounts. Gain insights from a single, central dashboard allowing you to quickly comprehend the financial wellbeing of your craft supply store and make informed 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 craft supply stores

Navigating the delicate intricacies of financial management for craft supply stores can be a daunting task. Here at Bench, we fully comprehend the complicated landscape of industry-specific taxes, laws, and numerous types of bookkeeping challenges you grapple with daily. From the fluctuations in inventory and cost of goods sold to sales tax complexities, our human bookkeepers, combined with cutting-edge software, have got you covered. We understand the unique cash flow peaks and troughs within your industry, and we're ready to guide you through it, delivering clarity and peace of mind.

Bench is not your average bookkeeping service. By harmonizing our highly intuitive software with the expertise of real, human bookkeepers, we can ensure that your craft supply store's financial health is the utmost priority. Besides managing your day-to-day bookkeeping, we're deftly equipped for preparing and filing your yearly taxes. Do you have worries about the sales tax on craft supplies, or are you unsure about potential tax deductions related to your inventory or business expenses? Fear not, our experienced team stays abreast of all changes to ensure we remain compliant with the laws of the profession. Here at Bench, we take care of bookkeeping and taxes so that you can focus on what truly matters-- running your craft supply store.

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 are the specific tax deductions available for my craft supply store?

There are plenty of specific tax deductions available for your craft supply store. Some examples include deductions on office supplies, rent or mortgage for the place of business, employee expenses, utilities, advertising, and depreciation of equipment. It's important to note that tax deductions can vary depending on the location and size of your business, so it's crucial to consult with a professional accountant or tax expert to understand which deductions are available to you.

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How can inventory management be accurately performed for a variety of craft supplies?

Inventory management for a variety of craft supplies can be accurately performed by using advanced software systems which allow for real-time tracking. This helps in efficient organization and monitoring of stock levels, purchases, orders and deliveries. Furthermore, implementing a barcode system can significantly simplify the tracking process.

Pair these technological solutions with systematic physical checks to verify the accuracy of data. This involves regular audits, either in whole or parts of the inventory, to match the physical count with the recorded numbers in the system.

A well-designed categorization and labeling system also ensures organization. Group the supplies based on their type, size, or function and label them accordingly. Storing the items based on their usage frequency can also be a valuable strategy. Over time, this combination of methods promotes efficiency, accuracy, and cost-effectiveness in managing craft supplies inventory.

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How does bookkeeping differ for a craft supply store compared to other types of retail businesses?

Bookkeeping for a craft supply store has some distinct differences when compared to other types of retail businesses. For one, inventory management can be more complex with a vast range of items which often require unique inventory tracking methods. Additionally, craft supply stores might have a higher volume of sales during certain seasons, like the holiday season or back to school, requiring a diligent tracking of seasonal trends. This may affect the cash flow management and financial forecasting for the business. Also, craft supply stores might often offer craft classes or workshops, introducing revenue streams additional to just product sales, that needs to be properly accounted for.

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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 Craft supply 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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No credit card required. By clicking ‘Start a Free Trial’, I agree to Bench’s Terms & Privacy Policy.