We'll consistently provide you with bookkeeping updates - tailored to the unique needs of sommeliers. Got urgent inquiries that just can't be put on hold? Rest assured, we'll respond to you in one business day or less.
Our platform enables you to streamline data inputs from a majority of major providers, reducing any wine-related accounting errors. We join forces with partners like Gusto, Stripe, Shopify, and Square—ensuring that your sommelier business finances are always meticulously accurate.
Wave goodbye to stacks of wine inventory lists and hours of tedious manual tracking—Bench Accounting automates inputs directly from your linked accounts. Gain insights from one central dashboard so you can easily understand the financial health of your wine business and make strategic decisions. Trust Bench to deliver the clarity you need to focus on what you love—curating exceptional wine experiences.
DR. BUKKY KOLAWOLE
As a sommelier, Bench Accounting can assist in effectively managing your income from multiple restaurants or wine consulting services with ease. Our dedicated team of skilled bookkeepers can help compile all of your finances from various sources and streamline your bookkeeping. With the use of cloud-based accounting software, our team can keep track of your income and expenses efficiently, ensuring your books are always accurate and up-to-date. Whether you're working with a single establishment or juggling multiple consulting contacts, Bench Accounting can provide a custom solution to meet your unique bookkeeping needs. This enables you to focus on your passion, providing exceptional wine experiences for your customers, without worrying about your finances.
The question of whether expenses related to wine tasting, buying, and education are tax deductible is a little tricky and typically depends on the nature of your business. If these activities are directly related to the operation and growth of your business, say if you're a sommelier or run a wine-related business, then yes, these expenses can likely be tax deductible.
However, the key to claiming these deductions is to meticulously track your expenses so that you're prepared in the event of an audit. Keep receipts of all your wine-related purchases and record the nature of the expense, when it was incurred, its amount, and how it contributes to your business. Using a reliable bookkeeping service can be incredibly beneficial in accurately recording and keeping track of these types of expenses.
For personalized advice on the tax deductible status of your wine-related expenses, we recommend consulting with a tax professional or bookkeeper familiar with your industry.
At Bench Accounting, we're indeed equipped to manage the financial aspects of an extensive and valuable wine collection. We provide detailed financial insights and a clear picture of your wine inventory's profitability. However, we do not physically manage the inventory. For that, you may need to engage a professional in wine inventory management. Our role is focused on bookkeeping; ensuring each purchase and sale is correctly recorded, costs are correctly categorized, the value of your collection is accurately reflected, and providing financial reports to assist in decision making.
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.