You will spend more time, effort, and money by signing up with Bench. If you’re running a business, I highly suggest looking elsewhere. Bench recently added 1099 reporting, with reports available year-round. Your 1099 transactions will be categorized with the date, bench accounting login details, and the payee name, making it easier to process forms. You’ll have access to IRS forms for filing and reports that provide the information you need to process your 1099s. Bench Accounting integrates with Gusto to help you manage your payroll transactions.
- Owning a small business is hard, outsourcing your accounting is hard, and the team at Bench understands that.
- Those who left a Bench Accounting review on third-party sites said that the platform is easy to use and that the user interface is very intuitive.
- 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.
- When you sing up for Bench, you will literally be assigned a real bookkeeper who will do your books for you.
- QuickBooks, Xero and other do-it-yourself bookkeeping software give you a tool to do your own bookkeeping and taxes.
But if yours is more complicated, you might look into other accounting software options besides Bench accounting. However, the company uses what is called “cash basis accounting.” This means they account for payments and expenses only after the money is received or spent. Using this method can be less accurate than accrual accounting, which includes accounts payable and receivable as well. Each customer’s main point of contact is a dedicated in-house, professionally-trained bookkeeper, based in North America. Part of what makes Bench unique is that we blend together the human touch with modern technology.
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With Bench, it is like having a whole accounting team working behind you in the shadows for just a relatively small monthly fee. A dedicated bookkeeperWe’ll connect you with one of our expert bookkeepers located in North America. Whether it’s a tax season review call or a monthly check-in, we’re always happy to talk shop. Upon enrollment, you’ll be paired with your own dedicated bookkeeper.
What is Bench Accounting?
In general, the QuickBooks platform is more scalable and widely used among accountants, so it could be a better solution for a rapidly growing business. The service starts at $200 per month and requires a one-time cleanup fee. QuickBooks Online is an additional monthly cost, starting at $30. Using Bench is different from having a subscription to accounting software like QuickBooks Online or Xero. These products can streamline tasks like reconciling accounts and categorizing transactions, but they don’t take bookkeeping off your plate completely like Bench does.
To learn more about Bench’s financial reports that you can use for daily, monthly, or yearly decision making check out this article. You should be able to access a dedicated bookkeeper for any questions or advice and one-on-one assistance. Because each plan depends on many factors, we looked at the value provided in terms of the time and potential money that you’re saving by using the service. In addition, we employ a comprehensive editorial process that involves expert writers. This process ensures that articles are well-researched and organized, offering in-depth insights and recommendations. You won’t need any other software to work with Bench—we do everything within the platform.
Bookkeepers are available Monday through Friday during “normal business hours PST,” according to Bench’s website. Our partners cannot pay us to guarantee favorable reviews of their products or services. We’ll do a month of your bookkeeping in one business day, and deliver a set of financial statements for you to keep. We’ll work with you to connect accounts and pull the data we need to reconcile your books.
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Our in-house team is also supported by machine learning technology, which allows us to automatically process large amounts of financial data instantly, and close your books faster and accurately. There are some times that we’ll request documents from you (like account statements or receipts), just to ensure the information we have is correct. If you need to share files with your bookkeeping team, it’s as simple as uploading a file. You can also book a call with your bookkeeper (or send them a message) whenever you’d like. There’s no extra fee or hourly charges for support—we’re always happy to nerd out about bookkeeping and your financial statements.
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The Bench platform makes it super simple to view your financials, update information, or check in with your dedicated bookkeeper. Each month, your bookkeeping team — made up of three in-house Bench employees — will categorize all your transactions, reconcile your bank accounts and prepare financial statements. This process is completed within 15 business days once you’ve sent all the necessary documents. If you’re wondering whether Bench is a service for bookkeeping or accounting, it can be both. Bench offers both bookkeeping services and tax preparation and filing services. The pricing will depend on your plan and your business entity, but it’s possible to have Bench take care of your business tax filing.
Then you can adjust your business strategy if you’re not meeting your goals. An expert bookkeeper dedicated to your business We’ll connect you with one of our expert bookkeepers. Your bookkeeper and team work in-house, and respond within one business day. Your bookkeeper reconciles your accounts, categorizes your transactions, and produces your financial statements. They also make adjustments to your books to ensure they’re tax-compliant. Occasionally your bookkeeper might need your input on things like categorizing a transaction properly, but we try our best to make bookkeeping as hands-off as possible for you.
This influences which products we write about and where and how the product appears on a page. We believe everyone should be able to make financial decisions with confidence. Also, you can access the Bench app to chat with customer support representatives — although there is only an Apple iOS app available at this time. We take care of the tedious bookkeeping work, you get more time to focus on what you care about—helping your business succeed. If you’re switching from QuickBooks, we’ll work from your closing balances to do your bookkeeping going forward. If you’re not sure whether your closing balances are accurate, we recommend chatting with one of our Onboarding Specialists about Catch Up bookkeeping.