Bench Accounting Review 2022: Pricing, Features, Alternatives

Additionally, there are a few features that Bench doesn’t offer, such as inventory management and invoicing, that you’d typically find in self-service accounting and bookkeeping software. Bench provides bookkeeping and tax services to small businesses that don’t want to purchase or learn how to use accounting software. Instead of self-service software, signing up for Bench connects your business to a team of professional, experienced bookkeepers that balance the books for you. Additionally, you can also sign up for tax services to have a professional prepare and file your small business taxes for you. Small business accounting software has made it easier than ever to manage your financials. However, as your business grows, tackling the books can become more of a burden. For other small business owners, learning accounting or bookkeeping software just doesn’t fit into the schedule.

You can check accounts, vendors, spending categories, dates, credit, and more to ensure your business is on track. These metrics combined enable you to paint a picture of how your business is progressing over time. 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.

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It’s crucial to realize that hardly any software in the Accounting Software category is an ideal solution able to match all the needs of all business types, sizes and industries. Others may work with a goal of being simple and intuitive and consequently lack complicated elements desired by more experienced users. There are also services that focus on a broad group of customers and offer a rich feature base, however that in most cases comes at a more expensive cost of such a service. Make sure you’re aware of your needs so that you choose a service that provides all the functionalities you look for.

When the end of the year comes, your bookkeeper will prepare a tax package that contains everything you need to file. When you’re ready to file, your dedicated tax coordinator will collect all the necessary documents and forms and then Bench will connect you to a tax practitioner to get your taxes filed on time. Once your books are done, you’ll receive a message through the app, and at that point, you can view your financial statements and your account information online or through the app. You’ll also be able to get in contact with your bookkeeper if you have any questions or queries at that stage. Merchant Maverick’s ratings are editorial in nature, and are not aggregated from user reviews. Each staff reviewer at Merchant Maverick is a subject matter expert with experience researching, testing, and evaluating small business software and services.

Accounting services in Canada.

I wish there are some nice comparable summaries like percentage growth or changes month to month, by quarter, and YoY. Prices still feel a little high to me and I wish there was an option for invoicing and receiving payments into my checking accounts. We also appreciate you taking the time to share your feedback. We were informed that only high ticket items needed receipts, and so we ended up using other third party software to track mileage and keep track of receipts.

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 Accounting is an online service that handles your bookkeeping for you so https://online-accounting.net/ that you can focus on running your small business. Seems to be a great platform and the technology is good. I’ve heard positive reviews of Bench and that is why I chose them to handle monthly financials for 2 of my companies. They completed a “trial” month before I started within 48 hours.

Expert Bookkeepers Available For Support & Customer Service

This felt like a huge undertaking and we needed the assistance. Doing that was a good experience and the bookkeeper that we worked with was really helpful. I am not sure that we will continue to use the service for future months, especially once our business is open and the books become more complex. However, they were unhappy with the level of financial statements customization and categorization provided by Bench within these reports. But, the fact that this same reviewer began to see discrepancies in their credit card statements and the figures recorded by Bench is alarming, if this person is actually telling the truth. A positive aspect of Bench is that it gives you the ability to analyze all your cash flow in one system.

We can go lower than our “bottom” price listed and often do. We can bundle different services together for lower pricing or provide a group price if you have two or more businesses you need to bring over at once. If you are going to be active in your own books and just want support or an occasional review, we can price for that as well. For many small businesses, doing your accounting on a cash basis is fine. Cash basis just means that when you get a deposit it counts as income and when you spend money it counts as an expense.

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Instead, your business data is in the hands and control of a third party. Bench.co has come a long way in a short time in the world of small business bookkeeping. 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 your bookkeeping needs.

Don’t get us wrong; Bench.co is a good solution for lots of small businesses who just need someone to take on their bookkeeping. It’s certainly better than not doing it at all and if you only need cash basis books and don’t ever expect to need apps or grow big enough to possibly bring it in-house, then this might be fine. Check this list out for some of the most popular QuickBooks add-on apps for small businesses. Currently, there are over 500 bench accounting reviews apps in the QuickBooks app store that serve all of these functions. Now, the question is obviously what happens if you join you need to get your books up to date. Here, Bench’s catch-up bookkeeping service gives you the option to get your books up to date if you have less and two years of historical bookkeeping. If you need more than two years, it also offers you the option to work with their Bench Retro team to get your books up to date.

Final Thoughts: Bench Accounting Review

But moving the information and verifying it was done correctly can take time. Hi Misti, thank you for taking the time to continue to share your feedback with us. We’re sorry to hear about your experience and are currently looking into it. As previously mentioned, our commitment to all our clients is to communicate in a professional and respectful manner in an effort to provide them with the highest standards in accounting services. We’re simply unable to tolerate abusive language and behavior directed at any employees.

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. Trusted by the world’s best companies, Bench is made available as an all-in-one financial toolkit/bookkeeping service provider. It assigns real humans as bookkeepers, helping out the small businesses and their team of experts to import bank statements and prepare financial statements every month. The software further helps users to get a direct line to their internal team on desktop or mobile.