Bookkeeping and Accounting for Gyms
Need a bookkeeper and accountant for your gym? We've got your finance workout covered. We do your books, so you can focus on keeping your clients fit and healthy. Sign up today and get a free month of bookkeeping.
How Bench works with gyms
Join the fitness revolution with peace of mind. With Bench, get your bookkeeping, income tax prep, and filing done by professionals—powered by one robust platform. Bench works with gyms.
We get you set up
Our team puts in the effort to fully comprehend your gym, addresses your queries, assists in connecting your accounts, and demonstrates how Bench can provide solutions for your business.
We do your bookkeeping
Every month, your personal bookkeeper will sort through your gym's business transactions and generate comprehensive financial reports. If they need any additional information, they'll reach out to you directly.
We deliver tax-ready financials
Our team of experts is well-versed in gym-centric financial regulations and will tailor their methods to meet your fitness business' specific requirements.
Here’s why gyms like you trust Bench with their bookkeeping and accounting
Get fast, unlimited support from our expert advisors
We'll consistently provide you with your gym's financial health updates. Have urgent questions regarding your financials? You’ll receive a response from us within one business day or less.
Guaranteed accuracy in every detail
Our platform enables you to automate data inputs from most leading providers, helping you bypass frequent errors. We collaborate with vendors such as Gusto, Stripe, Shopify, and Square—ensuring your gym's finances are consistently precise.
See where you’re spending. Make smart decisions
Say farewell to mounds of paperwork and tedious manual tracking—we automate data directly from your linked accounts. View the state of your gym business from one easy-to-understand dashboard. This allows you to pinpoint the health of your operation and make informed strategic decisions. Revolutionize your gym's bookkeeping with Bench.
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
CHRIS RONZIO
DR. BUKKY KOLAWOLE
HEATHER SHOLL
We know bookkeeping for gyms
At Bench, we understand the distinctive bookkeeping needs of gym owners. Every gym operates in its own unique way, dealing with membership subscriptions, hourly services costs, equipment depreciation, and specific industry tax obligations. These complexities can often lead to bookkeeping errors, misunderstandings, and the missed opportunity for crucial tax deductions. Our easy-to-use software, combined with a team of professional bookkeepers well-versed in the financial intricacies of gym management, allows us to provide seamless bookkeeping solutions tailored to the fitness industry. We can track and manage every financial transaction, giving you accurate, real-time insights into your gym's financial health, helping you make confident business decisions.
At Bench, we specialize in navigating the unique tax landscape encountered by gym owners. This includes understanding industry-specific write-offs, such as fitness equipment purchase and maintenance costs, trainer certification costs, or purchased fitness classes. Additionally, we strive to keep you in the clear with laws and regulations surrounding employee classification, which is a common issue in the fitness industry with independent contracting trainers. We are also able to handle sales tax issues surrounding your merchandise sales. As a result, come tax season, you can rest easy knowing your gym's financials have been accurately managed all year long, ensuring a smooth process. In this way, we provide an unmatched, comprehensive bookkeeping service. Let Bench handle your books, so you can focus on keeping your clientele fit and active.
Simple, straightforward pricing for everything your business needs.
Join over 35,000 US-based business owners who have streamlined their finances and have grown their businesses with Bench.
Choose Plan
Bookkeeping
billed annually. 100% tax deductible.
Bookkeeping & Tax
billed annually. 100% tax deductible.
Bookkeeping
billed monthly. 100% tax deductible.
Bookkeeping & Tax
billed monthly. 100% tax deductible.
Frequently Asked Questions
Bookkeeping for a gym involves manually or automatically recording membership fees and other recurring revenue on a consistent basis. This is typically done using accounting software that keeps track of all transactions. The bookkeeper will record each membership payment as income once it's received.
For recurring revenue, a bookkeeper sets up a system that automatically records the transaction each time it occurs in the time interval specified, for example monthly or annually. Any overdue payments from members are carefully monitored and follow-up actions are taken to ensure the revenues are collected.
The goal is to accurately reflect the financial status of the gym through organized records, which is critical for making informed business decisions.
Expense tracking for gym equipment and facilities involves keeping track of various costs. These can include the initial purchase cost of the gym equipment, routine maintenance, and repair costs. Also, costs incurred for maintaining the premise such as utility bills, cleaning and sanitization costs, and any potential renovation or upgrade expenses need to be tracked.
Furthermore, the costs associated with gym software, staff salaries, and any other operational costs are necessary for comprehensive expense tracking. Keeping a clear and thorough record of all these expenses can help in effective financial planning and management, eventually leading to the successful operation of the gym.
A bookkeeping service can significantly assist a gym business with its financial reporting and taxes in several ways.
Firstly, accurate bookkeeping ensures that your financial records are up-to-date and precise, which is essential for effective financial management. It aids in understanding the financial health of your gym business, assisting you to make informed decisions.
Secondly, bookkeeping services handle all documentation and paperwork which makes your tax filing process effortless. They ensure you are taking advantage of all eligible tax deductions and abide by the tax laws, thus preventing any potential penalties.
Finally, a bookkeeping service can provide useful tax planning strategies and tips to considerably reduce your tax liability. They can help detect any potential financial issues early on, and provide useful solutions to improve financial efficiency.
Overall, a professional bookkeeper not only takes the burden of financial management off your shoulders, but also contributes significantly to the development of your gym business.
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.
Bookkeeping Services for Gyms
Discover how we can help you have better finances with a personalized demo from a Bench expert, ready to answer all your questions. Sign up as a customer today and get a free month of bookkeeping, valued at $299.
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