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Retail Accounting Services and Retail Bookkeeping

Navigating the competitive world of Retail

Retail is one of the most cash intensive business. You almost always need to keep a high inventory on hand and it's very complex to track profitability for each product. Inventory is only one of the problems. You have rent, overhead and alot of other expenses that are very difficult to keep track of. 

Alot of business owners that contact us and have been working without an accounting software have a hard time knowing where they stand financially. A POS is not an accounting system. 90% of retail owners spend all their life in one store only.

We help you identify your true profit margins, analyze your business to identify best products and how you can maximize your profits and open up multiple locations.

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All in one Retail Bookkeeping

Whether you're in grocery, clothing or any retail sector. We help you manage your finances.. 

  • POS Reconciliation: We know that reconciling POS and payment processors is a pain on top of all the existing work that you have to do. Which is why, we go through your POS systems, bank statements and Payment processors to reconcile. So that you can accurately keep track of every dollar that's coming in. 
  • Inventory management: We know that inventory is a vital part of any retail business. We help you make sure, you stay on top of your inventory. Identifying your top margin products and evaluating pricing for your underperformers. We also help you maintain a steady balance in your inventory to maintain cashflow. 
  • Overhead costs: Retail is complicated when it comes to costs. You may have high margins, but you need to evaluate your margins based on all the overhead such as rent, payroll, utilities and any other admin fees.
  • Evaluate your profitability: We want to make sure - you're managing your finances rather than your finances managing you. For this, we prepare reports that allow you to evaluate where you currently stand financially. We work closely with you and your targets to measure progress and update you. 

Our Expertise in Accounting and Bookkeeping for Retail Businesses:

  • Streamlined Financial Operations: We'll handle your day-to-day bookkeeping, including inventory tracking, point-of-sale reconciliation, and expense management, ensuring accurate financial records and timely tax preparation.
  • Strategic Financial Planning: We do reporting valuable for your retail business's financial performance to evaluate your financial performance. Profit and Loss statements that shows your actual margins. Balance sheet to see your assets and liabilities in details so you can better manage your payables and debt. Cashflow reports to help you see where your money is going once it hits your bank. Our goal is to have you stay on top of your finances.
  • Tax Compliance and Optimization: We help you navigate the complexities of tax laws and regulations, ensuring compliance while minimising your tax bill while maximizing your profits and cashflow. We also help you with sales tax, 1099, franchise tax and state/federal taxes.
  • Growth and Profit focused: Our goal is to ensure your growth. We help you evaluate the numbers to better understand your profitability so you can grow. We have helped clients grow from 1 store to multiple around the nation.
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Why Choose BI Consultancy for Your Retail Business's Accounting and Bookkeeping Needs:

  • Deep Industry Expertise: We have a proven track record of success in serving retail businesses of all sizes, understanding your unique challenges and providing tailored solutions.
  • Experienced and Certified Professionals: Our team of accountants and bookkeepers is highly experienced and certified, ensuring the accuracy and reliability of our services.
  • Cloud-Based Accounting Solutions: We utilize advanced cloud-based accounting software, providing you with real-time access to your financial data and seamless collaboration.
  • Personalized Service and Support: We are committed to providing personalized attention and support, addressing your questions and concerns promptly.

Empower Your Retail Business with Financial Clarity and Growth:

Partner with BI Consultancy and let us handle your accounting and bookkeeping needs, freeing you up to focus on what you do best: delivering exceptional products, services, and customer experiences. We'll provide you with the financial clarity and insights you need to make informed decisions, optimize your retail business's performance, and achieve sustainable growth.

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Contact Us Today

Take the first step towards financial freedom and explosive growth! Schedule your free consultation today and discover how our expert accounting and bookkeeping services can empower your retail business to new heights.

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Additional Benefits

Whether you are a startup or an established business, we can help you with all of your accounting and bookkeeping needs. We can help you to:

  • 24/7 access to your financial data: You can view your financial data anytime, anywhere, from any device.
  • Secure data storage: Your financial data is stored securely on our cloud-based servers.
  • Expert support: Our team of experienced bookkeepers is available to answer your questions and provide support whenever you need it.
We believe that every business deserves access to accurate and reliable bookkeeping services. That’s why we offer a variety of affordable plans to meet the needs of businesses of all sizes.
CONTACT US

Contact us today to learn more about our bookkeeping services and get a free quote.