Searching for a bookkeeper and accountant for your antique store? We handle your books, so you have more time to discover hidden gems for your business. Try us for free.
We are offering free 1 Month Basic Bookkeeping to all new customers so you can experience Accracy's seemless and professional services.
Searching for a bookkeeper and accountant for your antique store? We handle your books, so you have more time to discover hidden gems for your business. Try us for free.
Our team devotes careful attention to grasp the specificities of your antique store, answer your queries, assist you in linking your business accounts, and demonstrate how Accracy can streamline your bookkeeping tasks.
Every month, your dedicated bookkeeper classifies your antique store transactions and formulates financial reports. If they require additional information from you, they'll reach out.
Every month, your dedicated bookkeeper classifies your antique store transactions and formulates financial reports. If they require additional information from you, they'll reach out.
At Accracy Accounting, we understand the unique bookkeeping needs of Antique Stores. We'll maintain regular contact to provide you with up-to-date bookkeeping reports. Got urgent queries that just can't hold? Rest assured, our prompt response time ensures we'll get back to you within a business day or less.
Accracy Accounting is the platform that permits you to automate data inputs from a majority of significant providers to dodge typical errors. We collaborate with merchants including Gusto, Stripe, Shopify, and Square, ensuring your antique store's financial records are always precise and dependable.
Wave goodbye to heaps of outdated financial records and time-intensive manual tallies — our automation syncs directly with your linked accounts. With Accracy Accounting, antique store owners can gain access to comprehensive insights from one unified dashboard. This allows you to effortlessly understand the financial health of your store and make strategic decisions with ease.
Accracy recognizes the unique challenges that come with running an antique store. Not only do owners have to deal with the regular challenges of running a business - inventory, payroll, and daily sales - but they also have to navigate complex tax laws pertaining to selling items of different ages and values. Recognizing this, Accracy provides you with tailored bookkeeping services to specifically handle these industry-specific complexities. Our real, human bookkeepers have a deep understanding of the antiquities market and the associated state and federal tax regulations, ensuring that taxable gains are accurately calculated and all due taxes are paid on time.
On top of that, antique stores often deal with consignment, estate sales, and auctions, which can complicate income tracking and profit calculations. Accracy's intuitive software coupled with our expert bookkeeping team can accurately track and manage these diverse sources of income. We manage the books so you can focus more intensely on your passion: collecting and selling valuable and antique items. The bottom line: Accracy turns a time-consuming and often confusing task into a seamless part of running your business, while ensuring all processes are adhering entirely to tax laws and regulations for your industry.
Join over 1000 business owners who have streamlined their finances and have grown their businesses with Accracy.
Everything in Basic plan +
Antique store owners need to pay special attention to several key accounting considerations. The first and foremost is inventory valuation. The nature of antiques requires a different methodology as compared to regular retail product, potentially requiring you to assess each item's cost individually.
Next, the cost of acquiring, restoring (if any), and maintaining these pieces until they are sold needs to be duly recorded. In many cases, the cost of restoration could be significant and they could greatly impact how you value your inventory.
Also, because these items are unique and there is no standard pricing, the pricing strategy itself is an accounting consideration. You may need to adjust the price frequently which can impact your profit margins.
Further, regulatory considerations such as estate taxes or import/export duties may also apply. In these scenarios, it is always a good idea to enlist the help of professional bookkeepers who specialize in this industry.
Lastly, possible insurance matters on your merchandise should also be considered as part of your accounting needs.
Inventory management for antique items in bookkeeping involves tracking each antique item individually from its purchase through to its eventual sale. These items are typically recorded as fixed assets on the balance sheet, given the unique, often appreciating value of each item. As these items can fluctuate in value, appraisals are usually carried out regularly to determine their fair market value.
In terms of inventory valuation, antique items are often valued using the specific identification method where each item is individually accounted for and valued. This method allows the bookkeeper to track the actual cost of each specific item, reflecting a more accurate cost of goods sold and ending inventory. This meticulous approach to valuation is particularly important in the antiques industry given the potential value swings and uniqueness of the items concerned.
Yes, there can be unique tax deductions and regulations for antique stores. These can involve aspects like capital gains tax, inventory valuation, sales tax, estate inheritance, and more. However, the specifics can vary based on federal, state, regional, and local tax laws. Therefore, it's crucial for antique store owners to work with a knowledgeable bookkeeper or accountant who can help navigate these intricate details and ensure compliance with all relevant tax laws.
We understand that when our clients turn their accounting and bookkeeping services over to us, trust is paramount. We have a team of certified professionals, use proven technologies, and hold ourselves accountable every day. Yes, you can trust us with your sensitive data and to deliver accurate, timely accounting services for your business.
Absolutely. Our team members are all certified in the leading accounting systems and can quickly get your files up to date.
Don’t worry, your financial data belongs to you. Our offboarding is pretty straightforward as we transfer account ownership to you. As a bonus, there’s no stopping you from replicating the workflows we’ve created for your in-house process – in fact, we encourage it.
Savings can vary considerably depending on your current solution, but our clients tell us that it is generally between 30% and 50%.
We do not provide year-end tax filing services as we are not a CPA firm. However, if you are looking for a year-end tax accountant, we would gladly refer you to one of our partners. Having a separate bookkeeper and year-end accountant ensures additional oversight on the accuracy of your books. Your year-end tax accountant can help you review your books during tax season.
No, we are not a CPA firm. Accracy is not a public accounting firm and does not provide services that would require a license to practice public accountancy.
No. We do not offer services which fall under the jurisdiction of these organizations. We have partner organizations who can provide those services if needed by clients. A good example of such services are tax advisory or statutory filings. We have a number of non-economic partnerships with CPA firms who can help our clients with these services if needed.
Every account is set up with a Client Success Lead who will be your day-to-day contact. They’ll liaise with the rest of the team members on your account which may include an accounting manager, bookkeeper, payroll specialist, and payables specialist.
Accracy can support a wide range of companies, from small businesses and startups to large public corporations. Our services are tailored to meet the unique accounting and bookkeeping needs of businesses across various industries.
At Accracy, we operate as a fully remote team, delivering our bookkeeping and accounting services online. We have the necessary tools and systems in place to work efficiently and securely from our remote locations. We will coordinate and collaborate with your onsite team to ensure smooth communication and workflow integration.
Stress-Free Bookkeeping and Back Office Accounting Solutions for Your Business.
Embark on a transformative journey towards financial clarity with our comprehensive organizational services. Beyond mere bookkeeping, we delve deep into the intricacies of your financial records. Every transaction is meticulously documented, categorized, and structured to provide not just accuracy but a foundation for strategic financial understanding.
BookkeepingOur payroll services offer comprehensive solutions for managing employee compensation in both Canada and the US. We handle everything from accurate payroll processing and tax calculations to compliance with local regulations and benefits administration. Our services ensure timely and precise payroll delivery, streamlined tax reporting, and up-to-date compliance with ever-changing laws.
Payroll ProcessingWe offer comprehensive sales tax services, including reporting, compliance, and filing, for both the United States and Canada. Our expertise ensures that your business adheres to all relevant tax regulations, streamlines your tax processes, and mitigates the risk of errors and penalties. Whether you operate in one region or across both countries, our team is equipped to manage your sales tax.
Sales Tax FilingBeyond mere numbers, our reporting services are a gateway to actionable insights. We go beyond presenting data; we interpret, analyze, and deliver reports that serve as strategic roadmaps for your business. Timely, clear, and comprehensive, our insights empower you to make informed decisions, identify opportunities, and navigate challenges with confidence.
Financial ReportingEfficiency is the cornerstone of our accounts management services. Whether handling payables or receivables, we streamline your financial transactions to optimize cash flow. Our focus is on creating a robust system that not only meets compliance standards but also ensures that your financial operations are a well-oiled machine, contributing to the overall health of your business.
Don’t let backlog hinder your progress. Our catch-up services are designed to bring your financial records up to speed. We meticulously address any gaps, ensuring that your records are not just current but also compliant. Stay on top of your financial game with timely updates that provide a comprehensive view of your financial landscape.
Catch-Up BookkeepingExperience the benefits of seasoned financial leadership without the full-time commitment. Our fractional controllership services bring in experts to guide your financial strategies. Beyond mere oversight, our professionals actively contribute to optimizing your business performance. Benefit from strategic insights, financial planning, and a level of guidance that propels your business towards sustainable success.
Fractional Controllership