Bookkeeping and Accounting for Machinists

Looking for a bookkeeper and accountant for your machinist business? We manage your books, so you get more time to focus on precision and craftsmanship. Try us for free.

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How Bench works with machinists

Get your bookkeeping, income tax prep, and filing done by specialists who understand the intricacies of your machining business—backed by one robust platform. Bench works hand-in-hand with machinists.

We get you set up

Our team is committed to fully understanding the specifics of your machining business, answering any queries you may have, assisting you in linking your accounts, and demonstrating how Bench can streamline your bookkeeping process.

We do your bookkeeping

Every month, your dedicated bookkeeper organizes your machining-related transactions and prepares financial statements tailored to your business. If they require any further details from you, they’ll promptly get in touch.

We deliver tax-ready financials

Our squad of experts understands the specific tax regulations for machinists and will tailor their strategy to suit the distinct needs of your business.

Here’s why machinists like you trust Bench with their bookkeeping and accounting

Get fast, unlimited support from our expert advisors

We're proactive in providing routine bookkeeping updates for your machinist business. If ever you have urgent queries, you won't be left in the dark. Count on us to respond within one business day or less.

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Guaranteed accuracy in every detail

Our platform enables you to automate data inputs from most major providers, eliminating common errors typical in the machining industry. We collaborate with renowned merchants like Gusto, Stripe, Shopify, and Square—ensuring your financial records are always precise and up-to-date.

See where you’re spending. Make smart decisions

Say farewell to cluttered workbenches and laborious manual record-keeping—we automate data straight from your linked accounts. Gain clarity from one unified dashboard, making it effortless to comprehend the financial health of your machinist business and formulate smart, 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 machinists

The machinists industry operates under tax codes and regulations unique to its sector. Bench understands that the complexity of these laws and tax obligations can pose daunting challenges to small machinists businesses, especially when coupled with everyday bookkeeping tasks. We know that tracking of industry-specific machinery and tools expenses, navigating capital expense depreciation, and managing inventory costs can be confusing and time-consuming. However, you'll never have to struggle to keep up with such industry-specific bookkeeping quandaries when you work with Bench.

At Bench, we bridge the gap between traditional bookkeeping and innovative technology, bringing you reliable and timely bookkeeping services coupled with the precision machinists are known for. We take care of cumbersome bookkeeping tasks, freeing up your time to focus on what you do best—your machinists work. Our experienced team vigilantly stays on top of industry-specific laws and taxes, ensuring your business remains compliant with tax regulations and financially healthy. At the end of the tax year, not only do we provide comprehensive financial statements, but we also give you a well-prepared and reviewed tax filing. This includes highlighting deductible expenses, minimizing your tax liability and maximizing tax benefits in compliance with the tax and related laws specific to the machinists industry. With Bench, bookkeeping is never a hurdle, but a stepping stone to your business success.

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 tax deductions can I claim as a machinist and how can a professional bookkeeper help me optimise these?

As a machinist, you may have several tax deductions available to you. This can include costs related to tools and equipment, maintenance and repair costs, uniform and protective clothing expenses, professional development expenses, and potentially more. It largely depends on your specific circumstances and local tax laws.

A professional bookkeeper can assist you by keeping thorough and accurate records of all your expenses which could potentially be claimed as a deduction. They can also help you understand the local tax laws and regulations that apply to your profession. Moreover, their experience and knowledge can guide you in identifying less obvious expenses that can be tax-deductible.

Remember, the specific deductions a machinist can claim can vary greatly based on various factors, and what may be valid one year could change the next. Ensuring you have a professional bookkeeper can save you both time and money in the long run.

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How can bookkeeping services help in maintaining my machine shop's inventory and costing records?

Bookkeeping services can play a crucial role in maintaining your machine shop's inventory and costing records. Here's how:

  • Inventory Management: Skilled bookkeepers can help track inventory levels and monitor changes. They ensure that all purchases and sales are recorded accurately, helping to prevent discrepancies in inventory records.
  • Costing: They also play a crucial role in calculating and tracking production costs. This includes direct costs like raw materials and indirect costs like overheads. Understanding the total production costs is critical for setting sales prices and making profitability forecasts.
  • Financial Reporting: Bookkeepers help generate financial reports, offering valuable insights into your inventory and costing situation. These reports are vital tools for decision-making and can lead to more informed business strategies.

By managing these aspects effectively, bookkeeping services allow machine shop owners to focus on their core business activities without getting overwhelmed by financial management.

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How can Bench Accounting assist with my financial records in terms of purchase and depreciation of machinery?

Bench Accounting provides comprehensive bookkeeping services that encompass various aspects of your financial records management, including purchase and depreciation of machinery. Our team of expert bookkeepers will track, record and manage these transactions for your business. The purchase of machinery will be recorded as an asset in your financial books, while the depreciation is tracked over the expected life of the machinery. This helps in offering an accurate picture of your assets' worth and allows for more informed decision making. Additionally, we also ensure your records adhere to regulatory standards and tax laws with regard to asset depreciation.

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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 Machinists

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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