After selecting your bank or credit card issuer, recording transactions you must enter your account login information and choose the accounts you want to share with Bench. Pricing is competitive and doesn’t change based on your business’s annual revenue. Other companies offering similar services adjust pricing upward as your business grows, making managing it more expensive.
Spend less time bookkeeping and more time growing your business.
- Finally, because it operates on proprietary software, it doesn’t sync with commonly used accounting solutions like QuickBooks Online and Xero.
- The Fit Small Business editorial policy is rooted in the company’s mission, which is to deliver the best answers to people’s questions.
- Each month, your bookkeeper will import all of your business transactions and categorize them, then reconcile your bank accounts and prepare financial statements.
- Once you’re caught up, Bench will work with you to transition over to monthly ongoing bookkeeping services.
- We’ll explore Bench’s features, pricing structure, user experience, and how it compares to alternatives in the market.
- The company’s entire website is currently offline except for the notice, leaving thousands of businesses in the lurch.
She has owned Check Yourself, a bookkeeping and payroll service that specializes in small business, for over twenty years. She holds a Bachelor’s degree from UCLA and has served on the Board of the National Association of Women Business Owners. She also regularly writes about business for various consumer publications. Here are 11 alternatives to explore, each with a different emphasis in supporting your small business finances. You’ve heard of «spend money to make money,» but what about «spend money to save money?» That’s the case with tax deductions and you won’t want to leave any on the table.
Top Reviews
Learn more about Bench, our mission, and the dedicated team behind your financial success. You should be able to access a dedicated bookkeeper for any questions or advice and one-on-one assistance. Because each plan depends on bench accounting many factors, we looked at the value provided in terms of the time and potential money that you’re saving by using the service.
Bench Accounting Review: Pricing, Features, Alternatives
The functionality of the platform could be especially useful for businesses that have a lot of transactions, like e-commerce or restaurant businesses. An online bookkeeping service also provides easy access to customer support through its in-app messaging option or a quick phone call. While Bench doesn’t offer accrual accounting services, we specialize in a modified version of cash basis bookkeeping.
At the end of each fiscal year, Bench prepares a comprehensive financial package that includes all necessary documents for tax filing. This feature significantly simplifies the tax preparation process. Akuonto is an all-in-one bookkeeping and accounting software that also handles invoicing and expense tracking. Fincent is highly similar to Bench, in that you can access a team of live bookkeepers – not an AI tool. The difference is that their plans also include invoicing, payments, and expense tracking. Any 1099 transactions are categorized according to date, details, and the payee name, so it’s easier to process with the IRS when the time comes.
Accounting Services
- Bench was critical in helping me with catch up books for tax time.
- Because each plan depends on many factors, we looked at the value provided in terms of the time and potential money that you’re saving by using the service.
- After you sign up to Bench, a member of our bookkeeping team will assist you in connecting all your financial accounts securely to our platform.
- The pricing will depend on your plan and your business entity, but it’s possible to have Bench take care of your business tax filing.
Compared with other bookkeeping services, Bench is relatively affordable, starting at $249 per month. Some competitors’ prices increase as your average monthly expenses rise, and others require a subscription to specific accounting software, which adds additional expenses. When your bookkeeping is done for the month, you’ll receive a message. At that point, you can view your financial statements and account information online. If you have any questions, you can get in touch with your Bench bookkeepers via in-app message or by booking a call. Your bookkeeping team reconciles your accounts, categorizes your transactions, and produces your financial statements.
- Bench partners with Taxfyle for filing your return at the end of the year and offers 1099 reporting, with reports available year-round.
- While Bench offers both Accounts Payable and Accounts Receivable support, these are add-ons, under “Specialized Bookkeeping”.
- Founded in 2012, Bench has quickly become a popular choice for small business owners looking to outsource their bookkeeping tasks.
- Learn more about Bench, our mission, and the dedicated team behind your financial success.
- Bench themselves recommend using Gusto, and if you do, you’ll get a 30% discount on Gusto’s services since Bench is a partner.
- You can also add services like payroll, invoicing, bill pay and inventory management for an extra fee.
I’ve been able to link the reports to my card processing software and bank, and get updates as they have questions. I find the monthly reports easy to understand and its given me a much clearer picture of my numbers. Bench Bookstime is an online accounting software tool designed to help small business owners save time and money when it comes to bookkeeping and taxes.