Bookkeeping and Accounting for Locksmiths
Searching for a bookkeeper and accountant for your locksmith business? We handle your books, leaving you with more time to concentrate on crafting secure solutions. Try us for free.
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How Bench works with locksmiths
Unlock seamless bookkeeping, income tax prep, and filing expertise for your locksmith business—powered by one robust platform. Bench works with locksmiths.
We get you set up
Our professionals make it a priority to comprehend your locksmith business thoroughly, provide answers to your queries, assist you in integrating your accounts, and guide you on how Bench enhances your bookkeeping.
We do your bookkeeping
Every month, your dedicated bookkeeper will sort out your locksmith business transactions and compile financial reports. If they need additional information from you, they won't hesitate to reach out.
We deliver tax-ready financials
Our team of experts are well-versed with tax regulations applicable to locksmith businesses and will tailor their approach to your company's distinctive requirements.
Here’s why locksmiths like you trust Bench with their bookkeeping and accounting
Get fast, unlimited support from our expert advisors
We'll regularly touch base with essential bookkeeping updates. Got urgent inquiries that can't be put on hold? As locksmiths, we understand urgency, so we'll respond to you within one business day or less.
Guaranteed accuracy in every detail
At Bench Accounting, we offer a platform designed for locksmith businesses to minimize manual data entry and prevent common accounting errors. We build partnerships with leading payment and transaction providers like Gusto, Stripe, Shopify, and Square to ensure your financial records are always accurate and up-to-date. Trust Bench to handle your bookkeeping needs so you can focus on unlocking success.
See where you’re spending. Make smart decisions
Say goodbye to mounds of receipts and exhaustive manual record-keeping—we handle your bookkeeping needs by automating inputs directly from your connected accounts. From one central dashboard, you'll be able to effortlessly view your locksmith business's financial health and make savvy decisions.
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.
Trusted by 25,000+ American small business owners
CHRIS RONZIO
DR. BUKKY KOLAWOLE
HEATHER SHOLL
We know bookkeeping for locksmiths
In an industry like locksmithing, managing finances may be complicated by service-focused transactions, irregular income cycles, and specific tax obligations. That's where Bench can make a significant difference. Bench Accounting is equipped to handle locksmithing industry-specific bookkeeping needs, assisting with common technicalities such as job costing and inventory tracking. Tracking the costs for every unique lock system installed and every emergency lockout service provided, is crucial. However, it is a demanding task for many in the locksmith industry. Bench’s intuitive software matched with the expertise of our human bookkeepers helps untangle this complexity with ease.
Additionally, staying compliant with local, state, and federal laws and regulations can be overwhelming for locksmith businesses. Bench Accounting also relieves this stress by ensuring that all financial records are accurate and up-to-date, aiding in tax preparation and ensuring you're maintaining best business practices. Tax deductions applicable to the locksmithing profession, such as tools and supplies, business-related vehicle expenses, or home office expenses, often go unclaimed due to a lack of understanding or simply being overlooked. Our team of experts identifies these appropriate deductibles, ensuring small business owners don't miss out on any tax-saving opportunities. With Bench, you can focus more on providing essential security services, knowing your finances are in good hands.
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
As a locksmith, there are several specific expenses that you can deduct from your taxes, providing they were necessary for your business. These include:
- Tools and Equipment: Any tools or equipment that you purchased for your locksmith business can often be deducted.
- Insurance: Business insurance premiums you've paid throughout the year could be tax deductible.
- Vehicles: If you use a vehicle solely for your business, such as for client visits or transporting tools, you might be able to deduct the related expenses, like gas, maintenance, and depreciation.
- Education and Training: If you've taken any professional courses or training to enhance your locksmithing skills, these costs can also be deductible.
- Advertising: Expenses related to advertising your business, including business cards, signs, website costs, or ads, can be deducted.
Remember, tax laws can be complex, and the specifics often depend on the precise circumstances of your business. It's always a good idea to consult with a professional before making any substantial decisions about your tax deductions.
The type of bookkeeping system that would best suit your locksmith business largely depends on the size and complexity of your financial operations. However, most small to medium-sized businesses would benefit from cloud-based bookkeeping software, such as Bench. These systems can help you manage invoices, track expenses, and monitor cash flow effectively. They're also easy to use and can be accessed from any device with an internet connection, allowing you to manage your books even when you're out on a job. It might be helpful to consult with a professional bookkeeper to choose the best system for your specific needs.
In order to accurately track and manage your income from different types of locksmithing services, it's crucial to categorize your income appropriately. This means creating distinct categories in your account book for residential and commercial locksmithing services. This not only helps in analyzing which area of your business is generating more revenue, but also comes in handy during tax filing as the deductions could differ based on the type of service. It is always recommended to consult with a professional bookkeeper or an accountant to ensure that you're categorizing your income correctly and optimizing for tax deductions.
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 Locksmiths
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.