Hard goods, dealers & local stores
Books and taxes for boat dealers.
New boat sales financed on a floor plan, trade-ins that become lot inventory, a service department doing winterization and repair, and manufacturer holdback that lands late. Gus sorts all of it, an accountant checks every transaction, and you get one number a month.
- From $197 a month
- An accountant on every transaction
- Cancel whenever
April came in at $41,600. Two units sold with trade-ins this month, so I booked both traded boats into inventory instead of letting them just look like a price cut.
- New boat sale, cash pmtNew boat sales
- Marine finance payoutFinanced sales
- Manufacturer holdbackManufacturer holdback
- Floor plan curtailmentFloor plan financing
- Service bay parts orderService parts
Why your books are different
Boat dealer books go wrong in the same four places.
A generalist sees deposits and vendor bills. Your business is inventory financed on a floor plan until it sells, trade-ins that become lot stock, warranty labor the manufacturer pays back later, and a season that runs hard from spring launch through fall haul-out. When the books do not know that, the monthly number lies.
-
1
Floor plan interest gets buried in general loan payments
A dealer paying interest to finance boats sitting on the lot can lose sight of what one unsold unit is actually costing to carry if that interest is not tracked against the inventory it is financing.
What we doKeeps floor plan interest and curtailment payments in their own line against the inventory it is financing, so the real cost of carrying a boat stays visible. -
2
A trade-in gets treated like a plain discount
A customer trades a used runabout toward a new pontoon. Booked only as a price reduction, the traded boat vanishes from the books even though it is now sitting on the lot as inventory the dealership owns and still has to sell.
What we doBooks the trade-in at a fair value as inventory coming in, so what the lot actually holds matches what the books say. -
3
Warranty labor reimbursement gets lost or mistaken for a customer payment
When the manufacturer pays the dealership back for warranty repair work, that reimbursement often lands weeks later as a lump payment with no note tying it to the original service ticket, and it can get missed as income or mistaken for a random deposit.
What we doMatches warranty reimbursements back to the service tickets they cover, so the service department's real income is not understated. -
4
A seasonal service rush skews the monthly number
Spring commissioning and fall winterization bring a wave of service work in a short window, while a big pre-season inventory order lands around the same time, making one month look unusually strong or weak for reasons that are really about timing.
What we doFlags the seasonal pattern so a spring or fall spike reads as expected, not as a sign something changed.
Your categories
The categories Gus keeps for a boat dealer.
Set up once for how you get paid and what you spend. You never pick a category. He does, and an accountant checks it.
Money in
- New boat salesCash and financed sales of new units from the showroom or lot.
- Used and trade-in salesSales of boats taken in on trade, tracked apart from new units.
- Service and repair laborWinterization, commissioning, and repair work billed to customers.
- Manufacturer holdbackHoldback and volume incentives paid back by the manufacturer.
- Slip and storage rentalRental income for dock slips or winter storage, where the dealer offers it.
Money out
- Floor plan financingDraws, interest, and curtailment payments on financed lot inventory.
- New boat inventory purchaseUnits bought from the manufacturer, net of holdback withheld.
- Service partsEngine, hull, and accessory parts for the service department.
- Delivery and riggingTrailer, fuel, and rigging costs to move boats to and from customers.
- Showroom and lot payrollSales staff, service technicians, and yard crew.
- Rent and utilitiesShowroom, service bay, and outdoor lot space.
- Financing and card processing feesWhat the lender or card processor kept before the sale hit the bank.
What we watch for you
- Floor plan balance owed
What is currently financed against unsold boats, so it never gets mistaken for cash the dealership can spend.
- Gross margin, new versus used
New unit and trade-in margin usually differ a lot, and blending them hides which side is actually paying the bills.
- Service labor margin
What the service bay earns after parts and technician time, apart from boat sales.
- The set-aside
What the dealership will owe, tracked month by month so tax season never catches you short.
Ask Gus
Things boat dealers ask Gus.
Text him like you would text anybody. He answers in plain English, and when a question is above his pay grade, an accountant looks and gets back to you.
I book the trade-in at a fair value as inventory coming in, so what is sitting on your lot matches what the books say instead of just vanishing as a discount.
It is common for dealers carrying financed inventory. I keep it in its own line against what it is financing, so you can see the real cost of carrying each unsold boat.
That is likely the manufacturer paying back a service ticket. I match it to the original repair so your service department's real earnings show up right.
The tax side
The tax side of a boat dealer.
Most of what goes wrong here is timing and financing. A trade-in booked wrong, floor plan interest buried in overhead, and a set-aside nobody started until April.
What your return has to get right
Your accountant signs it, so it gets done right the first time.
- Inventory and cost of goods soldWhat was actually paid for the boats sold during the year, not just what was spent restocking, is what counts against sales. Trade-ins and floor-planned units on the lot at year end need a fair value on the books.
- Floor plan financing interestInterest paid to finance boats on a floor plan is usually deductible as a cost of doing business, but it can affect other deductions available on those same financed units. This is one for the accountant to look at with the whole picture in view.
- Section 179 on service and lot equipmentTrailers, forklifts, and service bay equipment can usually be written off in the year you buy them, up to $2,560,000 under Section 179. Bonus depreciation is 100 percent for property bought after January 19, 2025.
- The pass-through deductionMost owner-operators can take up to 20 percent of qualified business income off their taxable income. It only lands right when floor plan interest and trade-ins are booked correctly all year.
Deductions boat dealers miss
Your bookkeeper knows what to look for in your statements. You never have to.
- Floor plan financing fees
- Trailer and rigging equipment
- Service bay tools and diagnostic equipment
- Financing and card processing fees
- Local advertising and boat show fees
- Business liability and inventory insurance
- Damaged or unsellable trade-in write-downs
- Uniforms for service technicians
- Point of sale and service scheduling software
- Dock and storage yard upkeep
- Manufacturer training and certification
- Winterization and commissioning supplies
General information about 2026 federal rules, not advice for your business. Your accountant looks at your actual numbers before anything gets filed.
All year, not just April
A boat dealer year, kept every month.
Spring launch and fall haul-out set the pace, but the team is on the books every month, not just at the ends of the season. Your team keeps you ahead of both. Every month in between, your bookkeeper closes the books and speaks up the moment something looks off.
- January
Plan the year
Last year's return gets started, floor plan terms are reviewed, and you get a monthly set-aside so April is already handled.
- April
Filed. Done.
Your return is filed and signed as spring commissioning ramps up, with the set-aside already covering what the dealership owes.
- July
Halfway check
Where you stand, what you will owe, and how spring launch season and floor plan interest changed the number.
- October
Before winterization
Before the fall haul-out and winterization rush, Gus looks at equipment you might buy and anything worth doing before December.
What you get
What you pay depends on what your business needs, and it does not move after that, busy season or slow. No hourly bills, no surprise invoices, no setup fee.
Book a call- Monthly bookkeeping
Every transaction sorted into categories set up for boat dealers. You never categorize a thing.
- An accountant checks every transaction
Real review, every month, before your books close. Not a spot check.
- Your business tax return, filed
Prepared, reviewed, and signed by that same accountant every year.
- The monthly number
What you made, what you spent, what to set aside for taxes.
- Your own bookkeeper
A real person assigned to your business, in the app whenever you need them. No hold music.
- On your books all year
Every month, not just in April. Your team speaks up whenever something is worth your attention.
- Cancel any time
No contract. No cancellation call. Your books are yours.
Straight answers
Questions boat dealers ask first.
How does Gus handle boats we finance on a floor plan?
He keeps floor plan interest and curtailment payments in their own line against the inventory it is financing, so you can see what carrying an unsold boat is really costing.
Do trade-ins need special treatment in the books?
Yes. Gus books a trade-in at a fair value as inventory coming in, so it shows up on the lot in your books the same way it does in your showroom.
Manufacturer holdback and warranty reimbursements land late and confuse our deposits. Can Gus sort that?
He matches these payments back to the purchases or service tickets that earned them, so they read as what they are instead of a random deposit.
Our service department does a lot of winterization work in the fall. Does that change our books?
Gus keeps service labor and parts in their own line apart from boat sales, so you can see how much the service side is actually earning.
Our books are behind from a busy launch season. Can Gus catch up?
Most dealerships get a clear picture within a week. Send over the bank statements you have, and Gus sorts through the backlog while the accountant checks his work.
Is a real accountant checking my books?
Yes. You get your own bookkeeper, Gus does the first pass on every transaction, and an accountant checks every one before your month closes. That same accountant prepares, signs, and files your business return. Goatkeeper is not a CPA firm, and we never pretend a person looked when they did not.
What does it cost, and can I cancel?
It starts at $197 a month, depending on what your business needs. No setup fee, no hourly bills, no contract. Cancel any time from the app, and your books go with you.
More in hard goods, dealers & local stores
We keep books for the business next door too.
- BBQ & grill stores
- Farm & ranch supply stores
- Independent discount & dollar stores
- Lumber yards
- Mobility scooter & wheelchair dealers
- Outdoor power equipment dealers (mowers, chainsaws)
- Piano dealers
- Safe & gun safe dealers
- Sewing machine & vacuum dealers
- Tractor & compact equipment dealers
- Trailer & cargo trailer dealers
- Flooring showrooms
- Hearth & patio stores
- Independent appliance stores
- Independent convenience stores
- Independent gas stations
- Independent hardware stores
- Pool & spa supply stores
- Antique shops & antique malls
- Art supply stores
- Baby boutiques
- Candle stores
- Christian & gift bookstores
- Comic book & collectibles shops
- Craft & fabric stores
- Crystal & metaphysical shops
- Estate sale companies
- Fireworks stores
- Flea markets
- Hobby shops (RC, model trains)
What makes a bookkeeper worth paying for Every business we keep books for
Book a call
Pick a time. That's the whole signup.
Fifteen minutes with a real person on our team. They look at where your books are, tell you straight what it takes to get caught up, and get you set up on the spot if it fits.
- $197 a month to start
- An accountant on every transaction
- Cancel whenever