(925) 484-0620 | (617) 325-2600 info@franklinmgmt.com
Two happy woman in mall holding shopping bags

Retail

As a retail store, you have a couple of important accounting and customer service issues that other businesses might not have. Your point of sale system needs to be fast, efficient and integrated into your back office system as much as possible so that you have a rich history of customer sales. And your inventory system must be current so that you can manage out-of-stock situations to avoid lost sales while not buying too much inventory that doesn’t move. You might also need help with sales tax depending on the types of goods you sell.

We serve all types of retail stores, including e-commerce stores, mall and strip center stores, department stores, specialty stores, discount stores, “mom and pop” shops, grocery stores, convenience stores, warehouse stores, dollar stores, supermarkets, outlet stores, and kiosks. Our retail clients sell furniture, food, clothing, specialty items, jewelry, electronics, baby items, office supplies, books and magazines, toys and games, hobby items, household items, pet supplies, flowers and plants, hardware, outdoor supplies, and more.

We offer retail businesses the following accounting services:

  • Accounting software selection, installation, customization, and training
  • Point of sale system and/or shopping cart selection, installation, customization, training, and integration
  • Merchant account selection and support
  • Monthly, quarterly or annual bookkeeping services for retail businesses, including reconciliations, accounts payable and accounts receivable support
  • Financial report preparation, including assistance in understanding your reports
  • Chart of Accounts design for better expense management
  • Inventory management
  • Mobile accounting functionality
  • Sales tax reporting and compliance
  • Payroll software selection, reporting, tax compliance, workers compensation, and other payroll management issues
  • Benchmarking to your industry
  • Tax return preparation and planning
  • And more depending on your specific financial needs

Complimentary Consult

Please give us a call or email us to schedule a free consult to discuss your retail accounting needs.