Searching for a bookkeeper and accountant specifically for your barbershop? At Accracy Accounting, we manage your books, leaving you with more time to perfect your craft. Experience our services risk-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 specifically for your barbershop? At Accracy Accounting, we manage your books, leaving you with more time to perfect your craft. Experience our services risk-free.
Our team devotes time to thoroughly understand the specifics of your barbershop, address your inquiries, assist you in connecting your accounts, and demonstrate how Accracy seamlessly integrates with your operations.
Every month, your specialized bookkeeper arranges your barbershop's transactions and prepares financial reports. If they require any additional information from you, they'll reach out promptly.
Every month, your specialized bookkeeper arranges your barbershop's transactions and prepares financial reports. If they require any additional information from you, they'll reach out promptly.
We'll keep in touch consistently with financial updates tailored for your barbershop. Have urgent inquiries about your barbershop finances? Rest assured, we'll respond to your queries in a business day or less.
With Accracy Accounting, your barbershop business can automate data inputs hailing from the major service providers, thereby minimizing the risk of errors. We're in collaboration with well-known merchants such as Gusto, Stripe, Shopify, and Squareguaranteeing that your financial records are always precise and up-to-date.
Bid farewell to heaps of receipts and laborious manual record-keeping — we streamline inputs directly from your connected accounts. Gain insights from a unified dashboard, enabling you to effortlessly grasp the financial state of your barbershop and make strategic decisions.
Accracy offers tailored bookkeeping solutions for barbershops, taking care of the unique financial concerns typical for this industry. With frequent cash-in-hand transactions, equipment depreciation, and tip income to manage, bookkeeping for barbershops can become complex. Accracy simplifies this complexity using an intuitive software suite handled by human experts. This, coupled with our understanding of industry-specific tax codes, tax benefits, and state-specific laws, ensures that your financial records are accurate, up-to-date, and compliant with all regulations. We keep track of your earnings, expenses, tips and VAT where applicable, ensuring correct GST/HST calculations, so you can focus on offering your excellent service.
Additionally, labor laws, such as classifications for independent contractors versus employees, often present confusion for barbershop owners. Accracy can assist you in ensuring your employee records are in order from a financial perspective. Our bookkeepers have a deep understanding of tax obligations and categories applicable to barbershops, helping you properly allocate funds for tax time and potentially save money through overlooked deductions. With Accracy, you get a personalized, industry-specific, and professional service, paving the way for better-informed business decisions and a stronger financial future for your barbershop.
Join over 1000 business owners who have streamlined their finances and have grown their businesses with Accracy.
Everything in Basic plan +
As a barbershop owner, you have the ability to claim a variety of expenses for tax deductions. Some of these expenses include:
It's important to note that this is not an exhaustive list, so it may be beneficial to seek advice from an expert in accounting to guide you about what can and cannot be claimed. Always remember to keep excellent records of all of your expenses for easier tax time documentation.
Managing cash flow in a barbershop with a high volume of low-cost transactions can be an ongoing challenge but can be made easier with some tried-and-true strategies. First, make use of a digital financial management system or virtual bookkeeping service that can handle the volume of transactions and give you real-time financial visibility. This helps in tracking every transaction accurately and enables you to see where the money is going and coming from instantly. Secondly, consider implementing cashless payments for convenience and increased financial accuracy. Lastly, engage a proficient bookkeeper who understands the unique dynamics of your business and can provide appropriate financial advice and solutions.
The best way to handle payroll for your barbershop staff, especially when it involves tips, is to use a reliable payroll system. This payroll system should be able to factor in hourly wages, commissions, and tips that your staff receives. It is also critical to ensure that the system can accurately report these amounts to the Internal Revenue Service (IRS).
Tip income is taxable, therefore, your employees must report tip income on their tax returns. It's your responsibility as the employer to make sure that taxes are properly withheld from your employees' paychecks. You can either account for the tips in your payroll system or have your employees report their tips to you, for which you will then calculate the necessary withholdings.
Moreover, since payroll involves many complicated processes, you can consider outsourcing to a payroll service or hiring a bookkeeper. They can help with tax withholding calculations, paycheck processing, tax form preparation and other payroll-related tasks.
If you're unsure about how to handle payroll for your barbershop staff, it's best to seek professional advice. A bookkeeper or accountant can guide you through the process, ensuring that you're in compliance with all the necessary regulations and requirements.
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