Bookkeeping and Accounting for Toy Stores

Seeking a bookkeeper and accountant for your toy store? We handle your books, giving you more time to concentrate on selling fun and joy. Try us for free.

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How Bench works with toy stores

Take the hassle out of running your toy store, with Bench. We handle your bookkeeping, income tax prep, and filing tasks with expertise—all backed by one powerful platform. Bench works in sync with toy stores.

We get you set up

Our dedicated team takes the time to really grasp the intricacies of your toy store, answer any queries you have, assist you in connecting your accounts, and instruct you on the efficient operations of Bench.

We do your bookkeeping

Every month, your dedicated bookkeeper categorizes your toy store transactions and formulates precise financial reports. If they require any additional information from you, they'll promptly make contact.

We deliver tax-ready financials

Our team of professionals are well-versed with tax regulations applicable to toy stores and will tailor their approach to address the distinctive needs of your business.

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

Get fast, unlimited support from our expert advisors

We'll keep in constant contact providing bookkeeping updates tailored for your toy store. Got urgent queries that need immediate addressing? We promise to respond within one business day or less.

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screenshot of Bench support app

Guaranteed accuracy in every detail

Our intelligent platform takes care of all tedious data input tasks from key providers to negate any errors. We have partnerships with key payment processors and merchants such as Gusto, Stripe, Shopify, and Square—ensuring your toy store's finances are always precise.

See where you’re spending. Make smart decisions

Wave farewell to mountains of invoices and tedious manual recording—we handle inputs directly from connected accounts. Discover insights from a comprehensive dashboard designed for your toy store's needs. Effortlessly assess the wellbeing of your business and make future-thinking 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 toy stores

Bench understands that running a toy store involves juggling numerous financial obligations from managing inventory to keeping up with seasonal trends. However, failure to maintain accurate bookkeeping could impair your ability to make informed financial decisions, overstock or understock items, and even lead to the inability to meet statutory obligations. It's where Bench steps in. Bench takes the burden off your shoulders by ensuring that your bookkeeping is always current, organized, and compliant with the toy industry-specific taxation laws. From managing sales tax to depreciation rates for stocked items and dealing with excise duties where applicable, we ensure your books are in order.

Beyond just maintaining your books, our service offers a comprehensive suite of bookkeeping solutions uniquely tailored for toy stores. We understand that the toy industry is governed by strict safety laws and regulations, which often have financial implications, such as fees and penalties for non-compliance. Whether it's monitoring your financials and cash flow in real-time, facilitating seamless expense tracking, or preparing for year-end tax time, our dedicated Bench human bookkeepers and intuitive software work in sync to simplify your financial management. We save you time and reduce the stress that comes with bookkeeping and tax preparation, enabling you to focus on what matters – running your store and bringing joy to your customers.

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 expenses can I claim as a tax-deductible for my toy store business?

As a toy store business owner, you are entitled to claim several specific expenses as tax-deductible. These include:

  • Purchasing costs for merchandise and inventory
  • Rent or lease payments for your store location
  • Utilities for your store like electricity, water, and internet
  • Salaries and wages paid to your employees
  • Marketing and advertising expenses
  • Professional service fees (like lawyer, accountant, or bookkeeper fees)
  • Shipping and postage costs associated with delivering toys
  • Repairs and maintenance for your store or any equipment
  • Relevant business insurance premiums

However, the tax laws can be complex and it's recommended to consult a professional tax advisor or bookkeeper to ensure you're claiming correctly and maximizing your deductions.

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How should I manage inventory accounting in relation to seasonal items in my toy store?

Managing inventory accounting for seasonal items in your toy store can be challenging but is crucial for accurate financial reporting and tax purposes. Here are a few steps you can take:

  • Firstly, use the FIFO (First-In-First-Out) method to value your inventory. This means that the oldest inventory items are recorded as sold first.
  • To keep track of your inventory, consider using inventory management software. This can help you monitor sales trends and manage ordering processes more efficiently.
  • Seasonal fluctuations should be considered, which means adjusting your inventory levels before and after high demand periods.
  • It's also essential to conduct regular physical counts of your inventory and reconcile it with your accounting records to ensure accuracy.

Implementing these practices can greatly improve your inventory accounting, however, they can be time-consuming and complex. At Bench Accounting, we offer bookkeeping services that can handle all your inventory accounting needs, ensuring accuracy and compliance.

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What is the best way to track sales and revenue for different categories of toys in my store?

The best way to track sales and revenue for different categories of toys in your store is by implementing a quality point of sale (POS) system or accounting software that allows you to categorize and track your inventory. These systems offer features such as product categorization, sales tracking, and comprehensive reporting that can help you understand where your revenue is coming from. Additionally, utilizing the services of a dedicated bookkeeper or accounting firm will ensure that your financial data is accurately managed and properly organized.

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