Bookkeeping and Accounting for Pharmacys

Looking for a bookkeeper and accountant for your pharmacy? We manage your books, so you get more time to concentrate on your customers' health. Try us for free.

Oops! Something went wrong while submitting the form.

No credit card required. By clicking ‘Start a Free Trial’, I agree to Bench’s Terms & Privacy Policy.

How Bench works with pharmacys

Get your bookkeeping, income tax prep, and filing managed by experts—empowered by one powerful platform. Bench is tailored to work with pharmacies.

We get you set up

Our team takes the extra step to thoroughly understand your pharmacy operation, address any concerns, assist in connecting your financial accounts, and demonstrate how Bench can make your bookkeeping seamless.

We do your bookkeeping

Every month, your dedicated bookkeeper categorizes your pharmacy's transactions and creates financial reports. If further information is required, they'll reach out to you.

We deliver tax-ready financials

Our team of experts is well-versed in the financial nuances of the pharmacy sector and will tailor their approach to your pharmacy's distinct requirements.

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

Get fast, unlimited support from our expert advisors

We'll constantly provide you with updated bookkeeping reports tailored for pharmacies. Have urgent inquiries that demand immediate attention? Trust us to respond within one business day or sooner.

women with headset and laptop sitting on the couch
screenshot of Bench support app

Guaranteed accuracy in every detail

Our platform enables you to automate data entries from most leading suppliers to bypass typical errors. We collaborate with merchants like CVS, Walgreens, Express Scripts, and Rite Aid—ensuring your pharmacy's finances are always precise.

See where you’re spending. Make smart decisions

Say farewell to towering stacks of documentation and labor-intensive manual recording—we automate inputs straight from your linked accounts. Gain insights from one central dashboard so you can effortlessly assess the health of your pharmacy and make strategic decisions.

people doing their bookkeeping at a table

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
Trust Pilot review previewCapterra review previewG2 review previewGetApp review preview

We know bookkeeping for pharmacys

In an industry as intricate and fast-paced as pharmacy, having a reliable partner to handle your bookkeeping needs cannot be overstated. With Bench, we uniquely understand the world of pharmacy enterprises - the kinds of expenses you're likely dealing with, the tax rules involved, the nuances in billing procedures, and even the laws on medicine procurement and insurance claims affecting your cash flow. For example, special tax conditions might apply to pharmacies because of their alignment with health care; our knowledgeable team is equipped to address those variables keeping you well informed every step of the way.

Bench offers a combination of modern, intuitive software along with a dedicated team of real, human bookkeepers who specialize in managing the books for pharmacy businesses. Our experts are well-versed in common issues in the pharmacy industry such as inventory management, accounts receivables, and changes in medical supplier costs, providing practical solutions tailored to your business. We take a proactive approach to manage your books and handle your taxes, freeing you up to focus more on providing quality healthcare services. At Bench, we are transforming the way bookkeeping and tax services for pharmacies are handled, ensuring accuracy, compliance, and peace of mind for business owners like you.

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

Close and Open IconA graphic of a plus and minus icon that represents the action to close and open.
Do I need specific accounting services for my pharmacy business?

Yes, it is often beneficial for pharmacy businesses to utilize specific accounting services. Pharmacy businesses face unique financial challenges, including managing inventory, tracking sales, and dealing with insurance reimbursements. Professional bookkeepers familiar with the industry can provide specialized guidance to help improve profits and reduce financial stress. They can also ensure compliance with specific industry regulations and help navigate the complexities of tax preparation specific to pharmacies. Bench Accounting offers customized bookkeeping services for pharmacies to meet these specific needs.

Close and Open IconA graphic of a plus and minus icon that represents the action to close and open.
What tax considerations are specific to the pharmacy industry that I should be aware of for my bookkeeping?

Pharmacy business owners, like those in any other industry, must adhere to a series of tax regulations. However, there are some specific aspects to the pharmacy sector that require particular attention:

  • Inventory Costs: Pharmacies have significant inventory costs. Understanding how your inventory is accounted for can heavily influence your taxable income.
  • DRP Fees: Direct and Indirect Remuneration (DIR) fees are a part of pharmacy-owner taxation. These fees can often be significant and can be calculated differently each year.
  • 3rd Party Insurance Reimbursements: Accounting for insurance reimbursements can be complex, making it essential to accurately track transactions for taxation.
  • Business Structure: The taxation method varies substantially depending on whether your pharmacy is structured as a partnership, C corporation, S corporation, or sole proprietorship.

These considerations, along with many others, underline the importance of pharmacy-focused, dedicated bookkeeping. You might want to consider hiring an experienced bookkeeper or accounting firm familiar with the industry's intricacies to ensure you meet all your taxation obligations and claim all available deductions.

Close and Open IconA graphic of a plus and minus icon that represents the action to close and open.
How can a bookkeeper help with tracking and managing inventory for my pharmacy?

A bookkeeper can be extremely beneficial in tracking and managing inventory for your pharmacy. Bookkeepers can keep an accurate and up-to-date record of all inventory, ensuring you are aware of which items are in stock, which ones need re-ordering, and which ones are not selling as expected. They can also help manage the costs associated with inventory such as purchase costs, shipping fees, and storage costs. This data can be pivotal in making informed decisions on ordering and stocking practices. Moreover, they can assist with the auditing process, making it smoother and more efficient.

Close and Open IconA graphic of a plus and minus icon that represents the action to close and open.
Does Bench outsource bookkeeping?

Nope! All bookkeeping is completed in-house.

Close and Open IconA graphic of a plus and minus icon that represents the action to close and open.
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.

Close and Open IconA graphic of a plus and minus icon that represents the action to close and open.
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 Pharmacys

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.

Thank you! Your submission has been received!
Oops! Something went wrong while submitting the form.

No credit card required. By clicking ‘Start a Free Trial’, I agree to Bench’s Terms & Privacy Policy.