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. Give us a try for free.

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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.

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screenshot of Bench support app

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.

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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 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.

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 specific taxes apply to the inventory of a hobby shop and how can accounting services help manage these?

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.

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How can a bookkeeper help my hobby shop with inventory tracking and cost management?

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.

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Are there any special bookkeeping considerations for hobby shops that deal heavily in online sales and ecommerce?

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.

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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 Hobby Shops

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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