Bookkeeping Answers by Industry
Get clear, practical bookkeeping insights tailored to your industry from real estate to ecommerce and beyond.
Bookkeeping isn't one-size-fits-all. A law firm doesn’t manage books the same way an ecommerce brand does—and nonprofit financials follow different rules entirely. This page breaks down real-world bookkeeping questions by industry, based on what small business owners and professionals ask every day.
Ecommerce & Amazon Sellers - Frequently Asked Questions
Do I need separate bookkeeping for Amazon and Shopify?
Yes. Each platform has different payout schedules and transaction structures. Bookkeeping must be synced and reconciled separately.
How do I account for refunds and chargebacks?
Refunds should reduce revenue; chargebacks often count as expenses. Proper categorization is key.
Real Estate & Property Management - Frequently Asked Questions
Should I separate rental property books from my main business?
Absolutely. Each property should have its own P&L. This protects deductions and makes taxes easier.
Do I need to record security deposits as income?
No. Security deposits are liabilities, not revenue, unless forfeited.
CPA Firms & White-Label Services - Frequently Asked Questions
How do I manage white-label bookkeeping for 10+ clients?
Use a private-labeled dashboard, standardized reports, and dedicated support to scale without hiring.
Is catch-up work included in white-label plans?
Yes. You can resell catch-up and cleanup services under your firm’s brand.
Medical & Dental Practices - Frequently Asked Questions
Should I record copays and insurance payments separately?
Yes. It’s best to track patient payments and insurance reimbursements independently for clarity.
What expenses are deductible for a dental office?
Supplies, lab fees, software, continuing education, and staff payroll—all deductible if properly tracked.
Nonprofits & Churches - Frequently Asked Questions
How is nonprofit bookkeeping different from for-profit?
Nonprofits must track restricted vs. unrestricted funds and often use fund accounting.
Can I use QuickBooks for my nonprofit?
Yes, but configure classes and chart of accounts to reflect fund categories.
Construction & Contractors - Frequently Asked Questions
How should I track labor vs. materials in construction jobs?
Use job costing features to separate labor, materials, and overhead per project.
Should subcontractor payments be treated like payroll?
No. Subcontractors are 1099 vendors—track them as expenses, not wages.
Law Firms - Frequently Asked Questions
Can I use my operating account to hold client trust funds?
No. You must use a separate IOLTA or trust account to hold client funds.
What’s the best way to track billable hours and retainers?
Use a legal practice management system synced with your accounting software.
Coaches, Consultants, and Creatives - Frequently Asked Questions
Do I need to issue invoices if I get paid through Stripe or PayPal?
Yes. You should still issue invoices for tax and recordkeeping purposes.
What bookkeeping is required for a creative freelancer?
You’ll need to track revenue by client, manage expenses, and categorize correctly for tax deductions.
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