Bookkeeping, payroll tax and sales tax for retail stores
A retail store’s bookkeeping is mostly matching daily sales reports to card payouts and the bank, then calculating sales tax correctly. RazaPro reconciles POS sales, records returns, discounts and merchant fees, and prepares the sales tax return, so month-end figures agree with the bank.
What retail stores have to get right
Daily sales hide in summaries
POS systems report gross sales, discounts, returns, tax and tips in one summary. The bank sees only the net deposit, so each summary has to be broken out.
Returns, discounts and gift cards
A return reverses a sale and its tax. A sold gift card is a liability until used, not income. Mistakes here move both profit and sales tax.
Merchant fees and chargebacks
Processor fees and chargebacks are taken before the deposit. If they are not recorded each month, income looks higher than the bank shows.
Online sales add another channel
Selling on a marketplace or website adds payouts net of fees, and sales tax rules differ by channel and state. Many states require marketplaces themselves to collect the tax on sales made through them.
What RazaPro does for retail stores
- POS daily summaries reconciled to card payouts and bank deposits
- Returns, discounts and gift card activity recorded correctly
- Merchant, marketplace and shipping fees coded each month
- Bank and credit card transactions reconciled to the statements
- Sales tax calculated each period and handed over ready to file
- Payroll and payroll tax for store staff, monthly or quarterly
What it costs
Bookkeeping plus sales tax ($120–$130 a month), with payroll tax added for staff ($150–$170 for all three).
Bookkeeping is priced by transactions: $75 a month up to 150 transactions, $100 up to 300 and $120 up to 500. Catch-up work, extra states and larger payrolls are quoted before any work starts.See all plans and the estimator.
Software: QuickBooks Desktop, including a shared file on a virtual machine, and QuickBooks Online.
Sales tax
Sales tax is calculated from the POS tax collected and checked against taxable sales. Online and in-store sales are kept separate where the rules differ. Returns are netted so the tax reported matches what was actually collected.
Payroll and payroll tax
Stores with up to five employees in one state fit the standard scope: payroll each period, payroll tax deposits and quarterly returns prepared. Commissions are included in payroll.
Not included in the standard scope
- Inventory counts and cost-of-goods valuation (quoted separately)
- Multi-location consolidation
- Merchandising, pricing and budget consulting
- Sales tax registration in other states beyond the agreed scope
RazaPro does not prepare or file income tax returns or give tax advice. Tax decisions and signatures stay with the business and its CPA.
Work our team has done in this industry
Our team has handled the monthly bookkeeping, payroll and sales tax routine for retail stores among the small-business clients it supported for a US accounting firm.Client names are not published, and results vary by client.Read the anonymous case studies.
Frequently asked questions
How much does bookkeeping cost for a retail store?
Bookkeeping is $75 to $120 a month depending on transactions. With sales tax it is $120 to $130, and with payroll tax as well it is $150 to $170.
Can you reconcile POS reports to bank deposits?
Yes. Each POS summary is broken out into sales, tax, returns and fees and matched to the card payout or deposit.
How are gift cards recorded?
A sold gift card is recorded as a liability and moves to income when redeemed. Your CPA confirms any state rules on unclaimed balances.
Do you handle inventory?
Inventory counts and cost-of-goods valuation are outside the standard monthly scope and are quoted separately.
Accounting firm with retail stores as clients?
RazaPro does this work under your firm’s name at wholesale prices from $40 to $70 per client a month, with a free 30-day pilot on up to 3 clients.See the firm program.
Serving businesses across the US
RazaPro supports businesses in every state. State guides with local tax detail:Texas, Georgia, Colorado, New York, New Jersey, Florida, California, Illinois. Other industries:Grocery & Convenience, Wholesale & Trading, Salons & Barbershops.All industries.
Talk through your retail stores books
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