We're committed to offering regular bookkeeping updates specific to the glazing industry. Have urgent inquiries that need immediate attention? We assure to respond within one business day or less.
Our platform enables you to automate data inputs from leading providers, reducing errors common in the glazing industry. We collaborate with vendors like Gusto, Stripe, Shopify, and Square—ensuring your financial records are always precise. With Bench Accounting, glaziers can focus on their craft without worrying about bookkeeping.
Say goodbye to mountains of receipts and labor-intensive manual recording—we automate entries directly from your linked accounts. With Bench Accounting, glaziers get insights and data visualizations from a single central dashboard. This allows you to easily comprehend the financial stability of your glazing business and make strategic, well-informed decisions.
DR. BUKKY KOLAWOLE
As a glazier, you have the opportunity to claim various expenses on your taxes. Some of these may include:
- Tools and Equipment: Any tools or equipment you buy for your glazing business can typically be claimed as a tax-deductible expense, including glazing equipment, safety gear, and even your vehicle if it's used for work purposes.
- Supplies: The costs of glass, materials, and other supplies necessary for your jobs can be written off as business expenses.
- Travel Expenses: If you travel to different job sites or for other business-related purposes, you may be able to claim these expenses. Keep detailed records of your mileage, fuel, and any other costs incurred during business travels.
- Insurance and Licenses: The cost of business insurance and any professional licenses or certifications can typically be deducted from your taxable income.
- Training: If you attend courses or seminars to enhance your skills as a glazier, these expenses can often be claimed on your taxes.
Please note, these are general guidelines. For a better understanding of the tax deductions available to you, we recommend consulting with a professional accountant or tax consultant experienced in the glazing industry.
Bookkeeping services can provide significant financial productivity boosts for your glazier business. The level of financial detail these services provide allows you to identify patterns, trends, and potential areas of concern. A professional bookkeeper ensures all financial records are accurate and up to date, offering insights into cash flow patterns and expenses which can inform strategic business decisions. Not only does this prevent costly mistakes but it also frees up your time, letting you focus on overseeing the daily operations of your business rather than on financial administration.
The glazing industry has unique accounting considerations that must be observed. These include, but are not limited to:
- Cost of Goods Sold (COGS): Gauging the cost of raw materials such as glass, coatings, and hardware is vital, as is tracking the costs related to labour, manufacturing overheads, and freight.
- Inventory management: Accurate record-keeping of the inventory of materials is necessary to prevent overstocking or understocking, which can affect overall profitability.
- Job Costing: This is particularly important in the glazing industry since each project can vary greatly in terms of size, complexity, and required materials.
- Equipment Depreciation: Large machinery and tools involved in the glazing process depreciate over time, and this must be systematically recorded and adjusted in the books.
- Retainage: Some contracts in the construction and glazing industry include retainage or a portion of the agreed-upon contract price deliberately withheld until the work is substantially complete to ensure that the contractor fulfils its obligations.
- Business Overhead: Overheads such as rent, utilities, insurance and salaries need to be efficiently tracked and managed.
Effective bookkeeping that takes these unique factors into account not only makes business operations more efficient but can also provide valuable insights for strategic planning and decision making.
Nope! All bookkeeping is completed in-house.
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.
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.