Provider directory
Accounting and bookkeeping for retailers
Retailers need bookkeeping that ties sales to stock. Inventory is usually the largest asset on the balance sheet, and without regular stock reconciliation the gross margin figure is little more than a guess. A retail-minded provider will work from your POS and inventory system, account for shrinkage, markdowns and consignment stock, and keep GST treatment consistent across in-store, online and voucher sales once your turnover brings you into the GST net.
In short: Retailers usually need integration with POS and inventory systems so sales and cost of goods sold match stock movements and periodic stock count reconciliation with shrinkage and write-downs recorded properly from a accounting and bookkeeping provider. Check the questions below before you choose, or describe your need and get one to five free introductions.
What retailers need from accounting and bookkeeping
- Integration with POS and inventory systems so sales and cost of goods sold match stock movements
- Periodic stock count reconciliation with shrinkage and write-downs recorded properly
- Correct handling of gift vouchers, store credit and refunds as liabilities until redeemed
- Consignment and concession arrangements accounted for separately from owned stock
- Store-level or channel-level reporting for physical outlets and any online sales
- GST treatment of discounts, promotions and returns that stays consistent across channels
Questions to ask a provider
- How do you reconcile POS sales and stock movements to the general ledger each month?
- How do you account for unredeemed vouchers and store credit?
- Can you report gross margin by store, category or channel?
- What support do you give at year-end stock takes?
Pitfalls to avoid
- Expensing stock purchases as they arrive hides the true margin and makes month-to-month results swing
- Treating voucher sales as income on the day they are sold overstates revenue
- A provider unfamiliar with your inventory system may rely on manual exports that break whenever the system changes
More on accounting and bookkeeping
Our guide to finding a accounting and bookkeeping provider in Singapore covers typical costs, rules and how matching works.
Accounting and bookkeeping providers in Singapore
Sleek
Sleek is a revolutionary one-stop solution for entrepreneurs, SMEs and investors to register new businesses from anywhere and effortlessly manage their back office admin tasks.…
Osome
Osome is an AI-enabled fintech company supporting over 40,000 global startups and SMEs. Operating in Singapore, Hong Kong, the United Kingdom, and the United Arab Emirates, we help…
세원회계법인 - Seone Business Solutions Pte. Ltd.
SEONE is a premier Korean accounting firm in assurance, accounting and tax, and advisory services. The insights and quality services we deliver help build trust in the capital…
Margin Wheeler | Company Incorporation Singapore
Margin Wheeler is a leading corporate service provider in Singapore with decades of experience, having successfully incorporated thousands of companies across diverse industries…
VentureHaven Pte Ltd
At VentureHaven, we believe every business has the potential to be a great force for good, and a sustainable change-maker. That's why we support businesses to do what they do best…
Fastcorp Pte Ltd
At Fastcorp, we don't just help you incorporate your company. We help fast-track your growth. Our team consists of experienced professionals with years of legal, accounting and tax…
Accounting and bookkeeping for other industries
- F&B businesses
- e-commerce businesses
- construction companies
- logistics companies
- manufacturers
- clinics and healthcare practices
- education and tuition centres
- real estate agencies
- law firms
- accounting firms
- consultancies and professional services firms
- tech startups
- beauty and wellness businesses
- hotels and hospitality businesses
Other services for retailers
Frequently asked questions
How do you reconcile POS sales and stock movements to the general ledger each month?
Ask each provider this directly and compare the answers in writing. Expensing stock purchases as they arrive hides the true margin and makes month-to-month results swing
How do you account for unredeemed vouchers and store credit?
Ask each provider this directly and compare the answers in writing. Expensing stock purchases as they arrive hides the true margin and makes month-to-month results swing
Can FYAdvisers introduce accounting and bookkeeping providers that work with retailers?
Yes. Describe your business and what you need, and a concierge confirms your requirements, then introduces one to five providers that fit. It is free for businesses.
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