Companies in the cosmetics and beauty industry are service-oriented, so your QuickBooks chart of accounts needs to be optimized with service based accounts. Salons and barbershops offer various services such as hair cutting and styling, shampooing, manicures and pedicures, tints, highlights, perms and other beauty treatments. They may also offer unique day spa services such as waxing and massage therapy.
If your company does not sell any products, you may only need one income account for services rendered. However, if you sell retail styling and beauty products, you would need a second account for sales of those products. Also, if you offer services such as facial treatments, hair coloring services, or manicure/pedicure services, you may want to include items for each service.
It is a good idea to have an expense account for salon supplies such as shampoo, conditioner, product, laundry, and linens. You should also have expense accounts for hair cutting tools such as scissors and clippers, as well as one for repairs on major equipment such as hair dryers, barber chairs, and hair washing stations.
Some smaller hair styling companies offer mobile services to customers who cannot leave the house for health or personal reasons. If you offer mobile hair care options, consider adding travel and automobile expense accounts to track your spending.
Where Can I Find More QuickBooks Help?
To learn about a chart of accounts for another industry, try our post on industry specific charts of accounts.
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