Bench 2022 Reviews, Pricing, Demos

bench bookkeeping

This means they’ll categorize transactions, reconcile bank accounts and prepare financial statements on behalf of the freelancer or business. Bench provides bookkeeping and tax services to small businesses that don’t want to purchase or learn how to use accounting software.

  • Webgility seamlessly syncs your sales, expenses, fees, and customer data across all sales channels.
  • You should just keep in mind, though, that it’s more expensive than Bench accounting although the platform is more scalable and widely used.
  • Your team of bookkeepers will reach out regularly with updates and it’s easy to book a call with your bookkeeper directly through the Bench app.
  • Also, this individual should also provide you with a quick tour of Bench and its accounting software.
  • A cool feature with the Bench app is its financial reports .
  • You can check accounts, vendors, spending categories, dates, credit, and more to ensure your business is on track.

Bench primarily uses a cash-based bookkeeping method, rather than an accrual-based accounting method. If you need to get in touch with your bookkeeper or tax professional, you can either schedule a phone call or send a message via the app. Usually, you will be able to call within a day, and in-app messages sent during hours of operation usually receive a response within a matter of minutes. Our unbiased reviews and content are supported in part by affiliate partnerships, and we adhere to strict guidelines to preserve editorial integrity. The editorial content on this page is not provided by any of the companies mentioned and has not been reviewed, approved or otherwise endorsed by any of these entities.

Is Bench Accounting secure?

However, as a freelancer or a small business that only has a few accounts, Bench may just be the perfect option for your bookkeeping needs. If you’re not used to doing accounting or banking digitally, but rather doing it in person, and you’re not super comfortable with online services, Bench may not be the right option for you.

bench bookkeeping

Blake Bobit has been an entrepreneur and business owner for over 25 years. He founded Solution Scout to provide the most helpful answers to questions about business solutions. bookkeeping Blake provides strategic advisory services to businesses in many industries nationwide and is passionate about helping others reach new levels of success.

Bench Accounting Signals

Additionally, you can test out the service for yourself with a one-month free trial before committing. Bench’s customer service has received outstanding reviews from its users. Customers state that Bench bookkeepers, tax professionals, and sales reps are quick to respond to requests.

  • People seem to feel that Bench.co is an extremely responsive and friendly bunch.
  • Unlike DIY software, there’s zero learning curve with Bench.
  • This bookkeeping service will connect customers directly with a physical certified bookkeeper to help them with their books.
  • This reviewer explains how they’re delighted with the customer service provided by Bench.
  • Bench primarily uses a cash-based bookkeeping method, rather than an accrual-based accounting method.

For businesses with over $5 million in revenue, accrual-basis bookkeeping is required by the IRS. If your business grows, you may have to switch to accrual-basis accounting system. For example, if you send an invoice due to be paid in one month, a cash-based bookkeeping method would not record that income for thirty days. An accrual-based bookkeeping method would record that invoice as soon as the invoice is sent. Your dedicated bookkeeper for your business will handle the time-consuming aspects of bookkeeping for you. The Bench Premium service also includes access to a licensed tax professional and they will help with your year-end filing — more on this below. When you sign up with Bench, the company will assign a dedicated bookkeeper to your business.

Bench Accounting Cap Table

People seem to feel that Bench.co is an extremely responsive and friendly bunch. The fact you’ve got your own bookkeeper to communicate with helps you form a professional yet friendly bond with Bench. Bench.co allows you to provide your accountant or business partner with access to your financial info. Naturally, they must receive permission from you before doing so. Finally, Bench gets its bookkeepers to double-check their colleague’s work. According to Bench.co’s website, this quality control, if you will, is performed by a member of Bench’s in-house team.

How much is bench a month?

Bench Accounting's Essential plan costs $299 per month, which includes monthly bookkeeping and year-end reporting. You can sign up for a free 30-day trial before buying, with no credit card required. In addition, Fit Small Business readers get 30% off of their first three months with Bench.

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