For freelancers or small businesses with relatively straightforward financials, it’s a great time-saving option. Bench Accounting is an online service that handles your bookkeeping for you so that you can focus on running your small business. Together with a robust set of accounting tools, Bench Accounting designates a team of dedicated professional bookkeepers to each of their clients. Through its service, their clients can focus more on the business side of matters, given that accounting and bookkeeping needs are taken care of. Not every business owner has the time or experience to tackle their business’s bookkeeping, and for those owners, Bench may be the perfect solution. Bench’s professionals can handle your bookkeeping on a regular basis (or even catch your bookkeeping up when you’ve fallen behind) at a fraction of the cost of hiring an in-house bookkeeper. Getting started is easy, connecting with your team is simple, and you can even add in tax services to make tax season as worry-free as possible.
I wish it integrated with Quickbooks as my CPA can easily manipulate the data for reports. BenchTax is another service provided by Bench to business owners. The process connects you with a TaxFyle expert, who has been trained by Bench. According to Bench’s website, their TaxFyle experts have 15 years’ worth of experience. Bench.co will set up a specialist bookkeeping team for you priced at $83 per month. You can avail of specialized bookkeeping with all plans as an add-on.
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The people, organization, resources, and software are top-notch. The price, however, is too much for someone who is self-employed or a small business owner with limited transactions.
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. If the IRS finds that you owe more taxes than you originally calculated, they’ll send you an Issuance of Notice to request the additional payment.
Last year the accountant they had to do my taxes literally disappeared for 3 weeks and no one could find her. You’ll be able to keep tabs on your expenses , but most importantly, you’ll save time by hiring a dedicated bookkeeper to perform all the heavy lifting in your stead. You’ll sign up to a plan with Bench and they’ll assign one of their bookkeepers to you. Your bookkeeper will interact with you on a one-to-one basis. They’ll keep you updated with how your accounts are looking and they’ll be available to contact you if you’ve got any issues.
QuickBooks required too much of my time and wasn’t learning transactions properly. Decided to make the jump since my business had grown and it was becoming more burdensome to keep up with after having kids to manage. Recommendations from Bench Bookkeeping Review online users, Youtubers, and a good first hand experience from the beginning while switching over to Bench. Using bench takes bookkeeping tasks off my plate, giving me more time to focus on more important areas to grow my business.
Specific Size Of Business
Some of the features like their Pulse tab of real time bank account syncing and electronic PDF statement syncing are glitchy. The only challenging initial integration was with Paypal- myself and the Bench team member had a hard time linking everything. We resolved it and I didn’t have that issue with other accounts. I do wish that this software integrated with my invoicing system, so I could easily see where the profits were coming from. However, I use that system’s reports to get a good idea of what’s bringing in income. Everything is easy to upload and the team is able to communicate with you and ask for documents or ask questions.
They also provide visual reports that display your revenue, expenses, and profit over time, and help you to file your taxes. Each organization has different needs and requires a software that can be personalized for their size, kind of staff members and customers, and the specific industry they are in. For these reasons, no software can offer perfect tools out-of-the-box. When you try to find a software system, first be sure what you need it for. Read some Bench Accounting Accounting Software reviews and ask yourself do you need basic tools or do you need sophisticated functionality? Are there any industry-specific tools that you are searching for?
That’s the same encryption level as used by many banks, and it’s believed to be impossible to hack. Online apps tremendously improve visibility and increase ease of access.
As you’ve probably realized by now Bench takes the pain out of your bookkeeping and saves you time and money in the process. With that in mind let’s look at some of its standout features.
Bench.co Review – Pros and Cons
We’re concerned to hear that you feel as though you are not experiencing the price to the relative value of our product. A member of our Client Success Team will be reaching out to you shortly. Mark Calatrava is an accounting expert for Fit Small Business. https://wave-accounting.net/ Once your bookkeeper wraps up your books every month, the information is reviewed by an in-house support team that ensures accuracy. Also, they never make assumptions about your business, preferring instead to reach out with any questions.
- Bench Accounting offers two plans, Essential and Premium, which cost $299 per month and $499 per month, respectively.
- For many other businesses, accrual bookkeeping also makes more sense and in these cases you can’t use the Bench.co solution.
- While its services are universal, the bookkeepers work directly from the company’s office in Vancouver, Canada.
- What we like most about Bench is their level of customer service.
- Every Bench plan includes up to 15 financial accounts, including bank accounts, credit cards, loans and merchant processors.