Bench Accounting is best for freelancers and small businesses with basic bookkeeping needs, such as providing cash-basis financial statements for tax return preparation. It’s an ideal solution if you have limited time or want to outsource your books to a certified bookkeeper so that you can focus on the other aspects of your business. You’ll also have access to a tax professional to help you make tax preparation and filing easier. Upon enrollment, you’ll be paired with your own dedicated bookkeeper. If you need to contact your bookkeeper, you can book a call or message them directly through the app. One of the most appealing features of Bench is that you have access to unlimited support, no matter which plan you choose.
Let’s face it, it’s not the most exciting thing there is, and it can get quite complicated sometimes but like they say, it has to be done. You should choose Bench over Quickbooks if https://www.bookstime.com/ you want to hire a bookkeeper to do your books for you. If you don’t want to hire a bookkeeper, you should use Quickbooks – it’ll provide you with the functionality to go it alone.
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This makes it easy to get in touch with someone at Bench that knows the specifics of your account. Bench is not suited for larger businesses with complex accounting needs. Businesses that prefer to handle their books with self-service software will need to seek out other options. Bench is also not suited for businesses that require payroll, invoicing, accounts payable, or inventory management. Bench provides online bookkeeping services to small businesses.
The Bench Bookkeeping dashboard is interactive and easy to navigate. After you sign up and link all your accounts to Bench, you can sit back and let them take care of everything else. Here are all the benefits that the Bench bookkeeping solution offers.
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The Bench company does online bookkeeping for you, so you can focus on growing your business. Bench Accounting is a great option if you lack in-house accountants or don’t want to purchase or learn how to use accounting software. Also, it doesn’t have financial planning services like investment and business expansion. Finally, because it operates on proprietary software, it doesn’t sync with commonly used accounting solutions like QuickBooks Online and Xero.
Every month, your bookkeeper will import and classify all of your company activities, reconcile your bank accounts, and generate financial statements for you. This will be finished in 15 business days, giving you plenty of time to make any necessary changes. Your bookkeeper will give you an in-app message if they have any queries regarding a specific transaction. Bench.co’s web-based app provides financial reporting functionality. Without stating the obvious, financial reporting helps you run your business more economically. This feature helps you easily identify areas where you’re spending a little unnecessarily, which can help you save.
What is Bench?
Since it’s web-based, both you and your bookkeeper can easily access it. Your online bookkeeping team will send you a message once your books have been finalized to let you know they’re ready for review. For the first two months, Bench will review and walk you through your books over the phone. For these reasons, Bench Bookkeeping partners with entrepreneurs all over the country.
They raised a lot of money from investors and built their own bookkeeping platform from the ground up and are now serving thousands upon thousands of small businesses. Considering this, if you have a lot of books and many accounts, so typically a larger business, Bench may not be the right option for you. However, as a freelancer or a small business that only has a few accounts, Bench may just be the perfect option for https://www.bookstime.com/articles/bench-accounting your bookkeeping needs. Another innovative feature of Bench is that they offer you the option to get your books up to date if you’re behind. So, if you’re missing months or years of bookkeeping, Bench lets you get back on track and they’ll do your overdue books with total accuracy. These bookkeepers may work independently as freelancers, in partnership with other bookkeepers or even as part of a large national firm.
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If you’ve ever received an audit from the IRS, you know that it feels like a literal punch in the gut. The only feeling I can really compare it to would be playing high school football and being blindsided by a D1 commit. Our unbiased reviews and content are supported in part by affiliate partnerships, and we adhere to strict guidelines to preserve editorial integrity.
What does bench offer?
Bench does your bookkeeping for you. With Bench, you get a team of real, expert bookkeepers in addition to software. You'll always have the human support you need, and a mobile friendly platform to access your up-to-date financials.
That brings us to today’s review, using an online bookkeeper. Here, we’ll look at Bench Bookkeeping that gives you a team of bookkeepers who do all your bookkeeping for you. There are many of these platforms available online that you can choose from with the promise of making your bookkeeping easier. You just enter your transactions in the system and categorize them yourself. The software then separates the transactions into different sections and can automatically generate financial reports for you.
This one-to-one support (customer service) is available via messaging and calling through Bench’s web-based app as well as by calling by phone. Note, if you want to call by phone, then you’re obliged to book in advance. When most small businesses opt for bookkeeping services, they want to stop worrying about the financial aspects of their business and hand it over to the experts.
- Would highly recommend to anyone looking for efficient and accurate bookkeeping.
- She holds a Bachelor’s degree from UCLA and has served on the Board of the National Association of Women Business Owners.
- In terms of its bookkeepers and tax professionals, Bench has a rigorous screening process, including the use of criminal background checks and multiple interviews.
- That is very different from the Quickbooks-based setup that most small businesses are accustomed to.
- Bench.co has competitive pricing in a number of tiers, but that doesn’t leave any room for custom solutions.
That’s what has prompted many SMBs to share their experiences about Bench Accounting online. Here’s a look at what you can expect when you signup to Bench Accounting and some of the things you’ll want to keep in mind before you reach out to Bench Accounting’s sales team. The Reports section provides you with a summary of financials, an income statement, and the balance sheet. If you want Bench to also file your taxes, that costs extra and the price varies depending on many factors.
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