Searching for a bookkeeper and accountant for your clock and watch repair shop? We handle your numbers, so you can concentrate on hands and gears. 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 clock and watch repair shop? We handle your numbers, so you can concentrate on hands and gears. Try us for free.
Our team takes the extra effort to fully comprehend your clock and watch repair shop, respond to your inquiries, assist you in connecting your accounts, and guide you through how Accracy functions.
Each month, your personal bookkeeper arranges your clock and watch repair shop transactions and composes precise financial statements. If there's anything else they need from you, they'll promptly get in touch.
Each month, your personal bookkeeper arranges your clock and watch repair shop transactions and composes precise financial statements. If there's anything else they need from you, they'll promptly get in touch.
We'll regularly provide you with detailed bookkeeping updates tailored to your clock and watch repair shop. If any urgent financial questions arise, rest assured that we'll respond within a business day or even less.
Our platform grants you the ability to streamline data inputs from the majority of significant providers to sidestep frequent errors. We collaborate with merchants such as Gusto, Stripe, Shopify, and Squareensuring your financial records for your clock and watch repair shop are always precise.
Say farewell to stacks of invoices and tedious hands-on tracking — we automate entries directly from your connected accounts. Access all crucial information from one central platform, specifically designed for your clock and watch repair shop. This allows you to quickly grasp the financial health of your business and make data-driven decisions.
Managing a Clock and Watch Repair shop demands expertise and precision, traits that should also extend to your financial management. Accracy Accounting realizes the unique bookkeeping needs of your industry, from tracking parts and materials inventory, labor costs to managing repairs and sales income. We understand that the taxation and laws for your business might seem as challenging and intricate as a complex timepiece, but our team of expert bookeepers is here to simplify it for you.
At Accracy, we blend intuitive software with personalized human services to provide you with top-tier bookkeeping and tax solutions for your Clock and Watch Repair shop. We can help you navigate through industry-specific taxes, manage complex transactions, and stay compliant with laws relevant to your profession. For instance, we ensure accurate record-keeping for sales taxes collected from part sales, income deductions for tools or equipment, or any potential tax credits for a small business like yours. With Accracy, you can focus on restoring timepieces, confident that your books are tick-tock accurate and in excellent shape.
Join over 1000 business owners who have streamlined their finances and have grown their businesses with Accracy.
Everything in Basic plan +
For a clock and watch repair shop, specific expense categories that need to be tracked for bookkeeping purposes typically include:
Each business is unique, however, so it's important that you set up a system that works for your specific needs and consult with a professional if necessary.
The accounting system for a clock and watch repair shop can significantly differ from other types of businesses. One of the main differences is the way inventory is managed. Watch and clock parts can be numerous and quite specific, and these need to be carefully tracked and accounted for. The system must also manage and account for direct labor costs - the hours spent repairing each clock or watch, which is typically a significant portion of cost and revenue in such businesses.
Additionally, these businesses may often deal with items on consignment, adding another layer of complexity to their accounting system. This could require unique ways of handling accounts receivable and payable. Also, the unique nature of many clocks and watches serviced might require an accounting system capable of handling a wide array of specific transaction types.
While there are general principles and methods that apply to every business, clock and watch repair shops certainly have their unique accounting needs and challenges. Therefore, they need a professional bookkeeper or accounting service, like Accracy Accounting, that understands these needs and can customize their services accordingly.
While there may be general accounting standards and tax considerations that apply to a wide range of industries, including horology, they are not typically specific to the horology industry. These could include considerations regarding valuation of inventory, recording of sales, tax deductions related to business expenses, etc.
However, depending on your specific business model in the horology industry, there might be particular tax credits, deductions or rules that apply. For example, if you manufacture watches or clocks, you may need to be aware of specific regulations related to manufacturing businesses.
Additionally, if you are importing or exporting watches or clocks, there could be customs and duties considerations. Similarly, requirements and rates for sales tax can vary, especially if you sell products online to customers in different states or countries.
We recommend consulting with a professional accountant or tax advisor who is familiar with your business and the horology industry. They can provide tailored advice and ensure you are in compliance with all relevant standards and tax laws. Accracy Accounting offers bookkeeping services that can help you navigate these complexities.
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