Bookkeeping and Accounting for Art Gallerys
Looking for a bookkeeper and accountant for your art gallery? We manage your books, giving you more time to dedicate to cultivating your art collection. Try us for free.
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How Bench works with art gallerys
Bring your artistry into focus—not your finances. Get your bookkeeping, income tax prep, and filing done by experts—backed by one powerful platform. Bench is perfectly curated to work with art galleries.
We get you set up
Our team devotes itself to gain an in-depth understanding of your art gallery, answers any questions you may have, assists you in linking your accounts, and demonstrates how Bench can seamlessly work with your business.
We do your bookkeeping
Every month, your dedicated bookkeeper organizes your art gallery's transactions and compiles financial statements. Should they need any additional information from you, they'll reach out.
We deliver tax-ready financials
Our squad of seasoned professionals is well-versed in art gallery-specific tax stipulations and will tailor their methodology to meet the distinctive requirements of your business.
Here’s why art gallerys like you trust Bench with their bookkeeping and accounting
Get fast, unlimited support from our expert advisors
Expect regular outreach from us with your art gallery's bookkeeping updates. Do you have urgent inquiries that simply can't be put on hold? Rest assured, we'll respond to you within one business day or less.
Guaranteed accuracy in every detail
Our platform allows you to automate data inputs from prominent art product providers to avoid common errors. We collaborate with key players like Gusto, Stripe, Shopify, and Square, ensuring your gallery's finances are always precise.
See where you’re spending. Make smart decisions
Say farewell to heaps of unsorted documents and tedious manual record keeping—we automatically consolidate inputs directly from your connected accounts. With Bench Accounting, Art Galleries can gain insights from one unified dashboard, making it simple to comprehend your gallery's financial standing and make strategic choices.
Bench integrates with your favorite small business tools
We sync seamlessly with your financial accounts and tools to keep your books up-to-date and save you the time and effort of manually uploading documents.
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We know bookkeeping for art gallerys
Running an art gallery comes with its own set of unique bookkeeping issues. Firstly, art galleries deal with a complex mixed tax system due to the varied nature of their sales. As galleries buy and sell internationally, they may have to pay or collect VAT or sales taxes from multiple tax jurisdictions, which can be difficult to keep track of and manage. Moreover, laws regarding art dealings are often intricate and vary by location. But worry no more. Bench helps you navigate through these complexities by providing clear, concise, and compliant bookkeeping service specifically tailored for art galleries.
At Bench, we merge innovative technology with expert human bookkeepers to provide unparalleled bookkeeping assistance. Our team is well-versed in art industry-specific laws and taxation, to make certain that every entry, from artist royalty payments to sales of artwork, is accurately recorded and meets the tax liabilities. Beyond basic bookkeeping, we aim to give art gallery owners a vivid understanding of their financial performance and processes. Bench Accounting recognizes the financial challenges that art galleries face, and we are here to make your financial management as seamless and straightforward as possible. Our full-stack financial solution eliminates the need for you to worry about year-end tax prep or monthly bookkeeping - thus, allowing you to focus on curating beautiful works of art.
Simple, straightforward pricing for everything your business needs.
Get bookkeeping, tax prep, advisory, and filing with Bench's powerful, easy-to-use platform.
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Frequently Asked Questions
Bench Accounting provides comprehensive bookkeeping services that are ideal for tracking and managing income from your art sales. We will handle all financial aspects of your transactions, from recording individual art sales to managing gallery financial statements. Our team of bookkeeping professionals will document each transaction meticulously, ensuring you have a clear, precise view of your gallery's revenues and expenditures. Incidentally, this not only helps track your profits but also aids in tax filing, and provides insights for better business decisions. Ultimately, using Bench Accounting for managing income from your art sales allows you to focus on what you do best - showcasing and selling exquisite art!
The best way to handle inventory accounting for artworks in your gallery is to implement a perpetual inventory system. This system involves consistently updating your records for each piece of artwork sold, purchased, or otherwise modified. However, managing such a system can become complex without professional assistance. Hiring an experienced bookkeeper familiar with the art industry can ensure that your inventory accounting is always up-to-date and accurate, allowing you to focus more on running your business. They can help you navigate cost methods such as Specific Identification and Average Cost, as well as guide you through the complexities of capitalization rules, cost of goods sold (COGS) and other core accounting principles.
Yes, Bench Accounting can absolutely assist with industry-specific tax deductions for art galleries. Our team is well-versed in handling unique expenses such as art acquisition and exhibition expenditure. We'll ensure you maximize these deductions and minimize your tax burden, helping your gallery's bottom line.
Nope! All bookkeeping is completed in-house.
Your bookkeeper will be your main point of contact, but at times you might hear from another member of your team. This is usually when your bookkeeper goes on vacation, is sick, or otherwise unavailable.
We handle the bookkeeping for you but sometimes we’ll need your input, especially at year-end. On average, expect to spend 15 minutes each month answering questions for your bookkeeper, or uploading supporting docs.
Bookkeeping Services for Art Gallerys
Sign up for a Bench trial, and get one month free. If you decide to go with us, we’ll take bookkeeping off your plate—for good.
No credit card required. By clicking ‘Get Started’, I agree to Bench’s Terms & Privacy Policy.