What We Handle for Retail Businesses
Full-service accounting and bookkeeping so your store financials are clean, your inventory is valued correctly, and your sales tax is always compliant.
POS & Sales Reconciliation
Daily POS sales reconciled against bank deposits and payment processor settlements. Catch discrepancies between what your register says and what actually lands in your account.
Inventory Valuation & COGS
Proper inventory valuation using FIFO, LIFO, or weighted average — whichever fits your business. COGS calculated accurately so your gross margins reflect reality.
Shrinkage & Loss Prevention Tracking
Book-to-physical inventory variances tracked and reported. Identify shrinkage trends by location, category, or time period so you can take action before losses compound.
Multi-Location Reporting
Separate P&L by store so you see which locations are profitable and which need attention. Consolidated reporting available when you want the full-picture view across all locations.
Sales Tax Compliance
Multi-state and multi-jurisdiction sales tax tracked, calculated, and filed on time. We handle the complexity of varying rates, exemptions, and filing deadlines so you never miss a payment.
The Royal Revenue System
Our proprietary review process that typically uncovers $10k+ in hidden savings across vendor contracts, tax strategy, and operational waste.
See what clean books look like for your retail business
15 minutes. We’ll walk through your current setup and show you exactly what we’d handle.
Not Just Bookkeepers
Most outsourced bookkeeping firms hand your files to data entry clerks. We don’t.
Your books are managed by degreed staff accountants. We have CPAs on our team. Journal entries, financial statement prep, and variance analysis get done right the first time.
Month-end close, financial statement analysis, and reporting that goes beyond recording transactions. We handle the accounting work most bookkeeping firms can’t.
No DIY dashboards or AI-generated reports you have to review yourself. A dedicated accounting team that knows your industry handles everything.
POS Reconciliation That Catches Every Dollar
The problem: Retail businesses process hundreds or thousands of transactions daily across cash, credit, debit, and mobile payments. Discrepancies between your POS system, payment processor, and bank account add up fast — and most owners don’t catch them until tax time.
How we fix it: We reconcile your POS sales against payment processor settlements and bank deposits daily. Processing fees, chargebacks, refunds, and cash variances are all tracked so every dollar is accounted for and your revenue numbers are accurate.
Inventory Valuation That Drives Better Margins
The problem: Most retail businesses either overvalue or undervalue their inventory, which distorts COGS and gross margins. Without proper valuation methods, you can’t tell if your pricing strategy is working or if certain product categories are losing money.
How we fix it: We implement the right inventory valuation method for your business — FIFO, LIFO, or weighted average — and calculate COGS accurately every month. You see true gross margins by product category, location, and season so you can make smarter purchasing and pricing decisions.
Sales Tax Compliance Across Every Jurisdiction
The problem: Retail businesses selling across multiple states or jurisdictions face a maze of varying tax rates, exemptions, nexus rules, and filing deadlines. Errors or late filings trigger penalties that add up quickly.
How we fix it: We track sales tax collected by jurisdiction, reconcile it against your POS data, and file returns on time in every state where you have nexus. Exemption certificates, marketplace facilitator rules, and rate changes are all managed so you stay compliant without the headache.
Free: The Retail Accounting Checklist
10 financial mistakes that erode retail margins. Download the checklist our retail clients use to keep inventory valued correctly and sales tax compliant.
Frequently Asked Questions
Ask AI about Accountally’s retail accounting services
Ready for Books That Actually Help You Grow?
15 minutes. We’ll walk through your current setup and show you exactly how we’d handle your POS reconciliation, inventory valuation, and sales tax compliance.