Tax and Bookkeeping Help for Retail Shops
Running a shop means managing inventory, sales tax, card processing, seasonal swings and payroll, often all at once. Good books make it easier to see what is selling, what it costs you and what you owe.
Raymond G. Kenney, CPA works directly with boutique, specialty and independent retail owners. Ray helps you keep accurate records, report income correctly and plan ahead for taxes.
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Common Challenges and How Ray Helps
- Inventory and cost of goods sold. Ray helps you track inventory and calculate cost of goods sold correctly, including purchases, freight and year-end counts.
- POS and merchant reconciliation. Card deposits arrive net of processing fees and returns. Ray reconciles your POS reports to bank deposits so sales and fees are recorded properly.
- Sales tax records. Ray helps make sure the sales tax you collect matches your books and your filings.
- Seasonal cash flow. Holiday rushes and slow months make estimated taxes and purchasing harder to plan. Ray helps you look ahead so taxes are not a surprise.
- Online and in-store sales. If you also sell online, Ray can help combine channels in one set of books. See E-commerce and online sellers.
- Entity and tax planning. As profits grow, Ray can review entity choice and whether an S-corp election makes sense.
Related Services
- Monthly bookkeeping
- Bookkeeping clean-up
- QuickBooks setup and optimization
- Year-round tax planning
- Individual tax preparation
- S-corp and C-corp tax preparation
- Partnership and multi-member LLC returns
- Frequently asked questions
Why Work With Ray
Ray is a licensed New York CPA in practice since 2015 and a member of the NYSSCPA. You deal with him directly, from your first call through filing, and he’ll explain things in plain language.
Work With Ray From Anywhere
Prefer to work remotely? Ray works with clients locally and remotely across the U.S. by phone, video and email. Work with Ray from anywhere.
Frequently Asked Questions
Do I need to count inventory at year-end?
Most retailers that carry inventory need a reliable year-end inventory figure to calculate cost of goods sold. How you track it depends on your size and method, so it is worth reviewing with Ray.
Why don't my card deposits match my sales?
Deposits are usually net of processing fees, refunds and chargebacks, and may be batched across days. Reconciling POS reports to deposits shows the full picture.
Can my POS connect to QuickBooks?
Often, yes. Many POS systems connect directly or through an app. Ray can help set it up so sales, fees and sales tax are recorded consistently.
Get Started
Have questions about your situation? Talk with Ray. Monday–Friday, 9–5.