Bookkeeping and Accounting for Fishing Supply Stores

Searching for a bookkeeper and accountant for your fishing supply store? We handle your books, freeing you up to focus on catching the big sales. Try us for free.

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How Bench works with fishing supply stores

Reel in the stress of financial management with Bench. We get your bookkeeping, income tax prep, and filing done by experts—backed by one powerful platform. Bench effectively works with fishing supply stores.

We get you set up

Our team takes the time to fully comprehend your fishing supply store, answer your queries, assist you in connecting your accounts, and demonstrate how Bench can enhance your operations.

We do your bookkeeping

Every month, your dedicated bookkeeper sifts through your fishing supply store transactions, crafting comprehensive financial statements. If they require further information from you, they'll promptly reach out.

We deliver tax-ready financials

Our expert team is proficient with fishing supply store-specific tax regulations and will tailor their services to meet your business's unique needs.

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

Get fast, unlimited support from our expert advisors

At Bench Accounting, we specialize in providing bookkeeping services to fishing supply stores. We'll keep you regularly updated with your financial data, ensuring you're always in the loop. Got urgent questions about your books? Don't worry - we guarantee responses within one business day or less.

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screenshot of Bench support app

Guaranteed accuracy in every detail

Our platform enables you to automate data entries from the leading providers to prevent commonplace errors. We collaborate with renowned merchants such as Gusto, Stripe, Shopify, and Square—ensuring your fishing supply store's finances are always spot on.

See where you’re spending. Make smart decisions

Forget about mountains of invoices and the tedious process of manual tracking—Bench Accounting automates data entry directly from linked accounts for your fishing supply store. Under one central dashboard, gain valuable insights to easily understand your financial stability and make strategic 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 fishing supply stores

Navigating the waters of bookkeeping can be quite a catch for many fishing supply store owners. Between monitoring stock, dealing with fluctuating seasonal demand, and grappling with industry-specific regulations and taxes, balancing your books can seem more daunting than reeling in a big catch. That's where Bench Accounting jumps in. With our integrated team of real, human bookkeepers and intelligent software, we provide comprehensive bookkeeping solutions that are specifically tailored to the fishing supply industry. We are well-versed with nuances such as inventory analysis, cost of goods sold (COGS), and sales taxes, which play a significant role in this profession.

Knowing the ins and outs of all federal, state, and local laws applicable to fishing supply businesses, Bench is proactive in identifying and resolving any bookkeeping concerns before they become an issue. From understanding the distinct tax deductions and credits available in the fishing industry to accurately logging sales during peak fishing seasons, our experts streamline your bookkeeping processes and ensure you're maximizing profits. And we do it all with our cutting-edge bookkeeping software, giving you a real-time insight into your business' financial health. Quite simply, Bench has reinvented the way bookkeeping and tax are handled for fishing supply store owners.

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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How is accounting for fishing supply stores different from other retail industries?

Accounting for fishing supply stores can indeed vary from other retail industries due to several factors. The most substantial difference comes from inventory management. Fishing supplies are typically seasonal, and this seasonality heavily influences buying patterns, which ultimately impacts inventory costs and turnover. This industry is also susceptible to several unpredictable variables like weather conditions, fishing restrictions, and ecological changes, which need to be factored into financial planning and forecasting.

Additionally, the fishing supply industry often deals with specialized equipment or high-value items like boats, which can lead to unique depreciation schedules or rental and licensing income. Therefore, it's essential for fishing supply store owners to work with bookkeepers or accountants who are familiar with these unique challenges and can provide expert guidance.

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How can a bookkeeper help manage inventory and cost of goods sold in my fishing supply store?

A professional bookkeeper can be incredibly strategic for a fishing supply store. In terms of inventory management, a bookkeeper keeps track of the stock levels of all products. This can help streamline the process of reordering supplies, prevent the unnecessary tying up of capital in overstocked items, and help avoid losing sales due to understocked items. Meanwhile, with regard to the Cost of Goods Sold (COGS), a bookkeeper can accurately keep track of what you're spending to make or buy the items you're selling. This includes calculations of direct labor costs, direct materials costs, and overhead costs. Having this information at your disposal can help with pricing strategies, tax filings, and evaluating the overall profitability of your fishing supply store.

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What are some common tax deductions available to fishing supply store owners that a professional bookkeeper could help identify?

Fishing supply store owners have access to numerous tax deductions that a professional bookkeeper can help identify to maximize cost savings. Below are some common examples:

  • Cost of Inventory: Fishing supply owners can deduct the cost of fishing gear, bait, and other supplies they sell.
  • Operating Expenses: Deductions can be made for utilities, rent, and other expenses related to maintaining the store premises.
  • Equipment Purchases and Depreciation: The cost of purchasing and maintaining essential equipment such as cash registers, computers, and other store fixtures can be deducted.
  • Advertising and Promotion: Costs related to advertising, website maintenance, and other promotional activities are deductible.
  • Vehicle Expenses: If you use a vehicle for business purposes, such as delivering supplies or traveling for purchases, certain vehicle-related costs can be deducted.
  • Professional Services: The fees for services like bookkeeping, legal consultation, payroll services etc can be deducted.

A professional bookkeeper has the expertise in identifying and leveraging these deductions for the financial benefit of your fishing supply store. It's a good reason to consider utilizing such services for your financial management.

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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 Fishing 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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