Bench Accounting Review 2022 Pricing Features

You can tag transactions with labels like products, clients, location, or sales channels to see exactly how your business is performing. In addition to year-round bookkeeping services, when clients of Bench sign up for the premium plan, they also get unlimited tax advisory support.

Bench’s online platform does a good job of labeling and categorizing transitions so that you can find things quicker. There’s a degree of human error involved in this process, and sometimes your bookkeeper will mislabel transactions. This mistake can be fixed, however, you’ll just have to log in to Bench.co’s web-based app and do it yourself. In terms of tax filing, Bench bookkeepers will do all the heavy lifting for you and send you the end product. However, the option is there to get Bench to do it for you through the aptly named BenchTax. It’s worth noting that bench is only available to US-based small businesses . Interestingly, Bench.co claims to be the largest small business bookkeeping service in the US.

Bookkeeping Only vs Full Range of Services (Including CPA / Advisory / Payroll)

All the hard work that they do mean that you can track your finances anywhere you are. Each month, Bench will download your bank, credit card, and other statements from online banking, provided online banking is available. Bench can also log into apps such as Gusto and PayPal on your behalf to download data on their own if you provide access.

Compared to the options outlined above, Bench is an affordable option. Sure, some accounting software packages may be cheaper, but you’ll have to do a lot of the heavy lifting yourself and the software only basically keeps a record of your transactions. Also, other bookkeeping services charge on a sliding scale based on the number of accounts or your revenue, while Bench prices are based on your monthly expenses. In addition, for the price you’re paying, you’ll get access to 15 financial accounts, including bank accounts, credit cards, loans, and merchant processes. In contrast, for many other competitors only include a handful of accounts in their entry-level plans and if you want to include more, you’ll pay for the more expensive accounts. Compared to other bookkeeping services, Bench is an affordable option. Other bookkeeping services charge a sliding scale based on number of accounts, whereas Bench prices are based on average monthly expenses.

Bench Accounting Reviews

At tax time, your bookkeeper will send a year-end financial package with all the information you need to prepare your tax return. Your personal accountant will deliver your business financial statements monthly and at tax time, all the documents you need to process your taxes. Hi Arthur and Stephanie, thank you for taking the time to bring this to our attention. We sincerely regret to hear that this has been your experience with us, as we aim to provide timely financials so you can get your taxes filed.

• They highlight the struggle they faced prior to hiring Bench – they simply couldn’t find a bookkeeper in their area who understood their business.
• You’ll then be able to analyze and review accounts via the “reports” section.
• Bench is able to offer a similar service as many independent bookkeepers for 1/2 to 1/3 the price because they are doing bookkeeping at scale with their own specialized software and processes.
• It’s worth noting that bench is only available to US-based small businesses .
• I’ve managed over $2.5m in ad spend and have built over 125+ websites on Squarespace.
• Since a team of professionals is handling your books and taxes, there’s no complicated software for you to learn.

Monthly bookkeeping for up to 15 accounts, including bank accounts, credit cards, loans and merchant account processors. If your business needs invoicing, bill payment, property tracking, or third-party revenue collection, you’ll need to sign up for specialized bookkeeping, which starts at $100 per month. You can book a call with your bookkeeper https://online-accounting.net/ or send them an in-app message directly through the Bench app. Whether you’d like a tax season review call or a monthly check-in, they can assist you. Your bookkeeper will also reach out regularly with updates. There’s no extra fee or hourly charges for support, and you’re welcome to reach out to them whenever you have a question.

Bench: America’s Largest Bookkeeping Service for Small Businesses.

The information is then featured in an easy to understand format revealing how many people had positive and negative experience with Bench Accounting. With that information available you should be ready to make an informed business decision that you won’t regret.

Bench Accounting is an online bookkeeping service for small businesses. With Bench, you’re paired with a team of professionals that will update your books each month. Bench also offers tax services for easy, worry-free tax preparation and filing.

Bench.co Bookkeeping Review: Is Bench Accounting …

However, once they were paid for the entire year, I have heard nothing from them in nearly 4 months. Have provided them unfettered access to my accounts, including POS software, bank and payroll. They only respond that they will be back in touch once I’ve reached out asking for an update. Apparently my business doesn’t matter to them even though I’ve paid for an entire year up front.

Knowing your financial picture is as important to us as it is to you. If you come to them as a client and are a little behind with your taxes, Bench will do what it takes to help you get back on track. Just like Accountingprose is well-suited for a specific audience, so is Bench. Bench should able to serve Freelancers and Micro Businesses well.

[Coming Soon] FREE E-COMMERCE SALES TAX GUIDE

Bench Accounting is best suited for small businesses that want a professional team of bookkeepers to balance the books. You can also speak to Bench about its specialized accounting add-on, which records accrual adjustments. bench co pricing 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.

They’ll take care of your taxes and provide a helpful system to monitor your accounts. 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.