RETAIL
Counting inventory and managing your books? Something’s gotta give.
Running a retail business
is hard enough already.
Retail comes with its own special financial challenges. Inventory management, sales tax compliance, cash flow fluctuations, and seasonal planning can quickly become overwhelming, especially when you’re also trying to, you know, actually run your store.
At Hannegan & Associates, we understand the unique accounting needs of retailers. We provide the specialized financial support that keeps your store running smoothly behind the scenes—so you can focus on the sales floor where the magic happens.
Keep your shelves stocked and your business thriving. Let us handle the numbers behind your merchandise so you can focus on what you do best—serving your customers.
Inventory management
that actually works
Navigate the complexities of inventory tracking and valuation (FIFO, LIFO, weighted average—we speak the language). Get clear insights into your true cost of goods sold and which inventory methods best serve your tax situation.
Cash flow planning
for seasonal success
Retail often means feast-or-famine cash flow. We’ll help you plan for seasonal fluctuations, manage vendor payments, and ensure you have the capital needed for upcoming inventory purchases.
POS and accounting
systems integrations
Stop manually reconciling your point-of-sale data with your accounting software. We’ll help streamline your systems for accurate, up-to-date financial information that saves hours of headaches.
Sales tax compliance
without the stress
Multi-jurisdiction sales tax rules can be a nightmare. We’ll help you navigate collection, filing, and remittance requirements to keep you compliant and penalty-free.
What this means for your retail business
- Know your true profitability. Understand which products, categories, or seasons are actually making you money when all costs are properly allocated.
- Make smart purchasing decisions. Use accurate inventory data and sales patterns to inform your buying decisions and avoid tying up cash in slow-moving products.
- Stay one step ahead of cash crunches. Anticipate when cash will be tight and when you’ll have opportunities to invest back in your business.
- Spend less time on administrative tasks. Free up more hours to develop staff, build customer relationships, and focus on merchandising and marketing.
- Sleep better at night. Rest easy knowing your financial foundation is solid and compliant, even during audit situations.