Bookkeeping and Accounting for Hobby Shops
Need a hand balancing the books for your hobby shop? We handle your accounting, so you can devote more time to your passionate customers. Sign up today and get a free month of bookkeeping, valued at $299.
No credit card required. By clicking ‘Get Started’, I agree to Bench’s Terms & Privacy Policy.
How Bench works with hobby shops
Transform your hobby shop financial management with Bench. We cater to all your bookkeeping, income tax prep, and filing needs—backed by one robust platform. Bench diligently works with hobby shops.
We get you set up
Our team dedicates time to thoroughly understand your hobby shop, address your concerns, assist you in connecting your accounts, and demonstrate how Bench can simplify your bookkeeping tasks.
We do your bookkeeping
Each month, your dedicated bookkeeper categorizes your hobby shop transactions and compiles detailed financial reports. If they require any further information from you, they’ll promptly reach out.
We deliver tax-ready financials
Our team of experts is skilled in hobby shop tax regulations across the country, and they'll tailor their strategies to your store's individual requirements.
Here’s why hobby shops like you trust Bench with their bookkeeping and accounting
Get fast, unlimited support from our expert advisors
We'll consistently get in touch with pertinent bookkeeping updates tailored for your Hobby Shop. If you have urgent inquiries that require immediate answers? Expect a response from us within one business day or even quicker.
Guaranteed accuracy in every detail
With Bench Accounting, you can streamline your bookkeeping processes by automating data inputs from most major providers, reducing the risk of common errors. We have established partnerships with key merchants like Gusto, Stripe, Shopify, and Square, assisting hobby shops to always have accurate financial records.
See where you’re spending. Make smart decisions
Say farewell to mountains of receipts and slow, manual record-keeping—Bench Accounting streamlines the process directly from your connected accounts. Access critical insights from a single, user-friendly dashboard to seamlessly comprehend your hobby shop's financial health and make informed strategic decisions.
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 hobby shops
Running a hobby shop can be complex, with unique challenges in inventory management, fluctuating demands based on seasonal trends, and industry-specific tax laws including use tax for purchased inventories and online sales. With Bench Accounting, we take these challenges off your plate. Our intuitive software paired with a dedicated bookkeeper will manage the complexities of keeping your books, tracking inventory, and handling sales tax. This allows you to focus on what you love - curating the perfect collection of hobbies for your customers.
Moreover, hobby shops often deal with multiple manufacturers and suppliers, leaving you with numerous invoices and payments to manage and reconcile. Bench understands the unique profile of bookkeeping issues common to your industry and helps streamline your financial process. Furthermore, our expert team stays up-to-date with evolving tax legislation and laws affecting hobby shops, ensuring your company remains compliant and you don't miss out on potential deductions. With Bench, the financial health of your hobby shop is in the most capable hands. Your dedicated bookkeeping team not only manages your daily books but also guides you through your financial reports and prepares your taxes. With Bench, you get more than just a bookkeeping service, you get a financial partner you can trust.
Simple, straightforward pricing for everything your business needs.
Join over 25,000 US-based business owners who have streamlined their finances and have grown their businesses with Bench.
Choose Plan
Bookkeeping
billed annually
Bookkeeping & Tax
billed annually
Bookkeeping
billed monthly
Bookkeeping & Tax
billed monthly
Frequently Asked Questions
The specific taxes applied to the inventory of a hobby shop largely depend on the state and local tax laws of your business location. Generally, you will need to manage sales tax, which applies to every item sold, and use tax, for inventory that is not exempt from sales tax.
Depending on your state, other taxes may also apply. For instance, some states have different tax rates for different types of items, while others apply a flat rate. The specific tax rules for your business can be complex and continuously changing, so it's important to have up-to-date knowledge on the matter.
Accounting services can significantly help manage these tax burdens. An experienced bookkeeper can handle the collection, reporting, and payment of sales taxes on behalf of your business. They can also ensure compliance with state and local tax laws, helping you avoid penalties and fines for incorrect or late tax filings. Moreover, they can provide valuable advice on tax planning and strategies to legally minimize your tax liabilities.
A bookkeeper holds a crucial role in managing your hobby shop's finances, especially when it comes to inventory tracking and cost management. They ensure a detailed record and accurate tracking of incoming and outgoing inventory. This level of diligence prevents losses due to theft, spoilage, or overselling items that are no longer in stock. Not only that, but bookkeepers also manage expenses, payables, receivables, and help maintain your budget. They can identify unnecessary costs and help you strategize on how to decrease these, leading to cost savings and improved profitability for your hobby shop.
Yes, there are several special bookkeeping considerations for hobby shops dealing heavily in online sales and ecommerce. These include but are not limited to managing multiple sales tax jurisdictions, tracking inventory levels in real-time across different platforms, and handling international transactions. It's vital to work with a bookkeeper familiar with these specific scenarios, as they can help to ensure that your accounts are accurately maintained and that any applicable tax laws and regulations are correctly applied.
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 Hobby Shops
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.
No credit card required. By clicking ‘Get Started’, I agree to Bench’s Terms & Privacy Policy.