Bookkeeping and Accounting for Military Surplus Stores

Looking for a bookkeeper and accountant for your military surplus store? We do your books, so you get more time to focus on serving customers with essential gear. Try us for free.

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How Bench works with military surplus stores

Get your bookkeeping, income tax prep, and filing done by experts—backed by one powerful platform. Bench works efficiently with military surplus stores.

We get you set up

Our team dedicates time to delve into the nuances of your military surplus store, answer any inquiries you may have, assist you in connecting your accounts, and demonstrate how Bench can optimize your bookkeeping.

We do your bookkeeping

Each month, your dedicated bookkeeper will neatly arrange your military surplus store transactions and prepare financial statements. If they require any additional information from you, they will promptly contact you.

We deliver tax-ready financials

Our team of professionals is knowledgeable with US tax regulations and will tailor their approach to your military surplus store's distinctive requirements.

Here’s why military surplus stores like you trust Bench with their bookkeeping and accounting

Get fast, unlimited support from our expert advisors

We’ll consistently provide you with updates on your bookkeeping status, tailored for military surplus stores. If you have urgent queries that demand immediate attention? Be assured, we'll revert back to you within one business day or even less.

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Guaranteed accuracy in every detail

Bench Accounting has the tailor-made solution for military surplus stores looking to streamline their bookkeeping process. Our platform empowers you to automate data entries from a vast array of leading providers, thereby eliminating common errors. We've joined forces with industry giants such as Gusto, Stripe, Shopify, and Square to ensure your financial records are always precise and up-to-date. Opt for Bench—because we understand the unique needs of your business.

See where you’re spending. Make smart decisions

Say farewell to mountains of invoices and the laborious process of manual recording—we take care of direct automation from your connected accounts. Utilize insights from a comprehensible central dashboard, allowing you to easily gauge the wellbeing of your military surplus store and formulate strategic plans.

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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 military surplus stores

At Bench, we understand the unique financial nuances that come with running a military surplus store. From managing and tracking inventory, understanding the constantly changing local, state, and federal laws on sale of certain surplus items, to navigating the complexities of sales and import taxes. With the added challenges of fluctuating inventories of military surplus gear, the bookkeeping needs can be complex. That's why our bookkeeping service goes above and beyond to provide detailed, accurate records and financial advice specific to your industry, so you can focus on what matters most—serving your customers.

Our approach to bookkeeping for military surplus stores is unprecedented, combining advanced software with a team of human bookkeepers who understand the intricacies of your business. We manage the financial ins-and-outs of your store, following the precise and specialized rules and regulations in place for military surplus retailers. This pairing of technology and industry-knowledgeable bookkeepers helps us deliver accurate, timely, and compliant bookkeeping services. Whether it's calculating sales tax on selling regulated military gear or managing import tax on international goods, we take care of these aspects with unparalleled accuracy, ensuring your business runs smoothly and profitably.

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 policies apply to military surplus stores that I should be aware of?

As a military surplus store owner, various tax policies may apply to your business. Some areas to consider include sales tax for retail goods, business income tax, and potentially more specific areas such as taxes on military goods. This could vary greatly depending on your location and the specifics of your operation. It's highly recommended to consult with a professional bookkeeper to ensure you're adhering to all relevant tax codes and maximizing your financial efficiency.

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How should I handle bookkeeping for both purchasing surplus goods and selling them in my store?

Conducting bookkeeping for both purchasing surplus goods and selling them in your store involves a few key steps. Here's what you need to do:

<ul><li>Firstly, record the cost of purchasing your surplus goods as an expense in the 'Cost of Goods Sold' (COGS) account. The COGS includes the direct costs attributable to the production of the goods sold in a company. This would reduce your business revenue and consequently the taxable income.</li><li> Secondly, when you sell these goods, you should record the revenue from each sale. The proceeds from the sale should increase your 'Sales' account under revenues. </li><li>Finally, jouralize the inventory changes. When you purchase or sell items, adjust your 'Inventory' account to reflect the current levels. The 'Inventory' account is a current asset account on the balance sheet. </li></ul>

Keeping accurate records for these two simple transactions can ensure your financial statements are accurate and can greatly aid in the strategic, planning decisions for your business.

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What are the best practices for inventory accounting in a military surplus store?

Inventory accounting in a military surplus store involves some unique elements. To ensure accuracy, effectiveness, and compliance, consider the following best practices:

  1. Stay Organized: Given the diversity and distinct nature of goods in a military surplus store, it's critical to stay thoroughly organized. Categorize items in a clear, conventional manner to avoid confusion.
  2. Regular Inventory Audits: Regular audits are crucial in keeping track of physical inventory. Perform periodic checks to identify discrepancies and take immediate corrective action.
  3. Detailed Records: Maintain scrupulous records for every item in your inventory: its procurement, selling price, quantity, etc. This creates a comprehensive history, facilitating effective decision-making in the future.
  4. Use Advanced Tools: Utilize advanced accounting software designed for inventory-based businesses. These tools offer automation features that simplify tasks like updating records and calculating costs.
  5. Stay Updated with Tax Laws: Various tax laws apply to inventory-based businesses. Ensure you're complying with local, state, and federal tax laws to avoid penalties.

With these practices, a military surplus store can more effectively manage its inventory accounting, save time, and ensure accuracy.

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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 Military surplus stores

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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