Small manufacturers & fabricators
Books and taxes for small boat builders.
A build deposit, a dealer floor plan sale, resin and gelcoat costs, and a marine engine supplier bill. Your own bookkeeper stays on it all year, an accountant checks every transaction, and you get one number a month.
- From $197 a month
- An accountant on every transaction
- Cancel whenever
March came in at $18,800. The Larkin custom build deposit is held as money still owed, since the hull won't be finished until May.
- Larkin custom build depositBuild deposits
- Bayshore Marine, dealer saleDealer sales
- Resin and gelcoat orderHull materials
- Outboard engine supplierEngines and rigging
- Marine hardware orderHardware and fittings
Why your books are different
Boat builder books go wrong between the deposit and the launch.
A generalist sees deposits and bills. Your shop takes a deposit on a custom hull that will not launch for months, buys resin and an engine that may sit waiting on rigging, and sells some boats direct and others through a dealer. When the books do not track that arc, a deposit month looks flush and a launch month looks thin, when neither is the real story.
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1
A build deposit looks like a finished sale
A customer pays a third down on a custom hull that will not launch for four months, and if that deposit is counted as income right away, the month looks better than it is while the boat still owed goes unseen.
What we doHolds build deposits as money still owed until the boat is delivered, then moves it to income so the timeline matches reality. -
2
Dealer sales pay out less than the invoice
A boat sold through a dealer on floor plan financing pays you less than the sale price, with the dealer's lender keeping a fee, and if only the payout is booked, both your sales and your true costs come out wrong.
What we doBooks the full sale as money in and the floor plan fee as its own cost, so your numbers stay honest on both sides. -
3
An engine bought early sits waiting on rigging
A marine engine can be bought weeks before it is actually mounted and wired into a hull, and if that cost hits the books the day it is bought, the month it happened looks far worse than the job's real timeline.
What we doTracks engines and major components as work in progress until they go into a specific hull, so a big buy does not read as a loss. -
4
Resin and gelcoat get bought ahead of the build schedule
Buying resin and gelcoat in bulk to get a better price can make one month look expensive and the next look great, when the material is really just sitting in the shop.
What we doKeeps hull materials in one steady line and flags when a bulk order is the reason a month looks thin.
Your categories
The categories Gus keeps for a small boat builder.
Set up once for how custom builds and dealer sales get paid and what a hull costs to build. You never pick a category. He does, and an accountant checks it.
Money in
- Build depositsHeld as money owed until the boat is delivered.
- Final build paymentsThe balance due once a custom boat launches.
- Dealer salesUnits sold through dealer floor plan financing, tracked apart from the fee.
- Repair and rigging workSmaller jobs servicing boats already sold.
Money out
- Hull materialsResin, gelcoat, fiberglass cloth, or aluminum sheet stock.
- Engines and riggingOutboard or inboard engines and the components to install them.
- Hardware and fittingsCleats, rails, hatches, and marine-grade fasteners.
- Floor plan and financing feesWhat a dealer's lender keeps before you get paid.
- Shop rent and utilitiesBuilding costs for the mold shop and rigging bay.
- Equipment loan or leasePayments on molds, lifts, and shop tooling.
- Freight and deliveryHauling a finished hull to a dealer or customer.
What we watch for you
- Deposit backlog
The value of deposits held for boats not yet delivered, so cash on hand is not mistaken for profit.
- Material cost by build
Resin, hardware, and engine cost against a hull's price, the real test of a quote.
- Dealer floor plan cost
What a dealer's floor plan lender keeps on each launch, worth knowing before leaning harder on that sales channel.
- Days to get paid
How long a final balance sits before a customer or dealer settles it.
Ask Gus
Things boat builder owners 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.
Not yet, in the books it is. I hold it as money you still owe until the boat is delivered, then it moves to income so the month is not overstated.
The dealer's floor plan lender kept a fee before paying out. I booked the full sale and the fee as its own cost, so your sales still show the full amount.
If he is not on payroll and you pay him $2,000 or more this year, he gets a 1099-NEC by January 31. I keep that list running as we go.
The tax side
The tax side of a small boat building business.
Most of what goes wrong here is timing on deposits and knowing what hull materials and engines are still on hand at year end.
What your return has to get right
Your accountant signs it, so it gets done right the first time.
- Molds and shop equipmentHull molds, lifts, and shop tooling can usually be written off, often in the year they are bought. Section 179 covers up to $2,560,000 and bonus depreciation is 100 percent for property acquired after January 19, 2025.
- Deposits and progress billingA deposit taken before a boat is delivered is money you owe the customer, not income, until the build is complete and the final invoice is issued.
- Hull materials and engines on handResin, hardware, and engines bought and sitting in the shop at year end get valued and matched against what actually sold, rather than expensed the day they were bought.
- The pass-through deductionMost owner-operators can take up to 20 percent of business profit off their taxable income. It comes out right when build deposits and dealer floor plan fees are tracked correctly all year.
Deductions small boat builders miss
Your bookkeeper knows what to look for in your statements. You never have to.
- Resin and gelcoat
- Fiberglass cloth and hardener
- Marine hardware and fasteners
- Bottom paint and finishing supplies
- Rigging tools and wire
- Safety gear and respirators
- Freight for hull delivery
- Shop insurance
- Trade show and boat show costs
- Small hand tools
- Mold release and maintenance supplies
- Shop uniforms
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 building year, kept every month.
Custom builds land on their own schedule, though spring launch season lifts demand. Your taxes still run on their own schedule. Every month in between, your bookkeeper closes the books and speaks up the moment something looks off.
- January
Hulls planned
Open build deposits and material on hand get sorted, last year's return gets started, and your monthly set-aside is planned so April is already handled.
- April
Launch season filed
The accountant signs and files your return. Since the set-aside has been building since January, a quarter spent mostly on one custom hull does not turn into a scramble.
- July
Midyear launch check
Where you stand, what you will owe, and whether spring launch season demand changed the number.
- October
Before winter
Gus looks at any mold or shop equipment buy worth making before December and flags it for the accountant's call on depreciation.
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 small boat builders. 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 small boat builders ask first.
How does Gus handle a deposit on a custom hull?
He holds it as money you still owe the customer, not income, until the boat is delivered. That keeps a strong deposit month from overstating what you actually earned.
Can Gus handle sales that go through a dealer's floor plan financing?
Yes. He books the full sale price as the sale and whatever the dealer's floor plan lender kept as a separate cost, so your sales figures stay honest and the fee still counts against your taxes.
Do we have to change how we quote a custom build?
No. Keep quoting hulls the way you always have. Gus reads it off your bank statement, and when a deposit is unclear he asks once and remembers your answer.
We buy an engine before the hull it goes into is finished. Does that skew the books?
No. Gus tracks it as work in progress tied to that build, so a big engine purchase does not read as a loss the month it happens.
Our books are behind after a busy launch season. Can that be fixed?
Yes. Send the bank statements you have. Gus sorts build deposits and dealer sales alike, the accountant checks the result, and most owners know where they stand within a week.
Do I write off a new hull mold all at once?
Often you can. A hull mold or shop lift bought for the business can usually be deducted the year it is bought, though sometimes spreading it out fits the year better. Gus flags the purchase and the accountant decides with your whole year in view.
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.
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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