Nail Salon
Retail Service
Keep an eye on all the money you spend in your nail salon, from the products you use on customers to the rent for your salon space. This helps you understand your salon's money situation, so you can save money without making your business less efficient or profitable.
Here’s a list of bookkeeping services we provide nail salons:
1. Income and Sales Tracking
- Tracking daily, weekly, and monthly revenue from services (e.g., manicures, pedicures, nail art).
- Monitoring retail sales (e.g., nail products, polishes, beauty products).
2. Expense Management
- Recording operating expenses (e.g., rent, utilities, supplies).
- Tracking purchases for inventory (e.g., nail polish, tools, equipment).
- Categorizing costs like staff wages, training, and marketing.
3. Tax Preparation and Compliance
- Calculating sales tax.
- Managing employee and contractor tax documentation (e.g., W-2s, 1099s).
4. Accounts Payable and Receivable
- Managing supplier payments for inventory and tools.
- Following up on outstanding payments (e.g., from clients with accounts).
5. Bank Reconciliation
- Ensuring salon transactions align with bank and credit card statements.
- Identifying and resolving discrepancies.
6. Financial Reporting
- Generating profit and loss statements.
- Preparing cash flow statements.
- Monitoring financial trends to identify opportunities for growth.
7. Point-of-Sale (POS) Integration
- Syncing POS systems with bookkeeping software.
- Tracking service-specific sales data.
8. Loan and Financing Support
- Managing loan repayments or credit lines.
- Preparing documentation for financing applications.