Crystal clear financial statements and reportsSee what your money is up to in real-time. Your income statement, balance sheet, and visual reports provide the data you need to grow your business.Simple to use anytime and anywhereForget about spending hours learning new software. The Bench platform makes it super simple to view your financials, update https://www.bookstime.com/ information, or check in with your dedicated bookkeeper. The functionality of the platform could be especially useful for businesses that have a lot of transactions, like e-commerce or restaurant businesses. An online bookkeeping service also provides easy access to customer support through its in-app messaging option or a quick phone call.

How We Evaluated QuickBooks Live vs Bench

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. Or, you can just let your bookkeeper know via Bench’s app. Bench Accounting is a great option if you lack in-house accountants or don’t want to purchase or learn how to use accounting software. Bench bookkeepers are trained professionals, so you can be sure that your books are well taken care of, at a fraction of the cost of hiring a local certified public accountant (CPA).

Bench.co Bookkeeping Review: Is Bench Accounting Worth it?

QuickBooks Live received high praise from users who appreciated the responsiveness and knowledge of the customer support team. They also liked that the fees are affordable and the dashboard itself is easy to navigate. Two complaints among users are that there aren’t any bill pay or invoicing services available, and it also doesn’t provide income tax filing or advisory services. Also, many wished QuickBooks Live offered a free trial so that they could try the service before committing. Bench Accounting is best for freelancers and small businesses with basic bookkeeping needs, such as providing cash-basis financial statements for tax return preparation. 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.

A stress-free tax season

• Massive names such as Stripe, Shopify, and Bigcommerce all avail of Bench.co’s services.
• Accounting, bookkeeping, and tax tips to help you understand your small business finances.
• Each month, your bookkeeper will import all of your business transactions and categorize them, then reconcile your bank accounts and prepare financial statements.
• If your bookkeeper has any questions about a particular transaction, they’ll send you an in-app message.
• Another bonus is that Bench offers unlimited customer support and unlimited year-round tax advisory services.

You’ve concocted every excuse under the sun, but you can’t escape reality – it’s time to do your books. Understanding the financial health of our business has been critical in making decisions both long and short term. Bench helped free up the minimal time that we as business owners have and spend more of that time focusing on our business, which has been very helpful. What we like most about Bench is their level of customer service.

Learn what outsourced accounting involves, its advantages, and whether or not it’s right for you. Explore the role of FASB in financial reporting, including its mission, standards, and collaboration for consistency in accounting practices. Discover the history, importance, and key principles of GAAP.

Learn more about Bench

However, businesses up to enterprise-level can avail of Bench.co’s services on some level. Bench promises to do your books for you, while keeping all your accounting data on its system so that you can access it any time, anywhere. bench accounting login 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. Bench recently added 1099 reporting, with reports available year-round.

• We appreciate you taking the time to share your experience and feedback.
• You can also schedule a time for your bookkeeper to call you at no additional charge.
• Check out our evaluation of the best small business accounting software if you want to learn more about the leading solutions and what they can offer your small business.
• Luckily, it offers an interactive range bar on its website to help you out.
• However, they were unhappy with the level of financial statements customization and categorization provided by Bench within these reports.
• You’ll receive unlimited support from real humans, allowing you to take the guesswork out of running your business.
• Additionally, you can add on services that track your accounts receivable, accounts payable, and unearned revenue.

If you only need basic bookkeeping and your business makes enough money to sustain the $299 price tag for unlimited monthly bookkeeping support, then Bench is a cost-effective solution. You can try Bench Accounting for free to see if it’s a good fit. We evaluated whether the online bookkeeping service offered tax and consulting, and the scope of those services. We evaluated Bench Accounting based on user reviews, pricing, personal bookkeeper, bookkeeping services, and tax and consulting services. Bench could work well for freelancers or small businesses that have easy monthly bookkeeping.

Real Business Decisions You Can Make Using Bench Financial Statements

You’ll be pleased to know you won’t have to contact your bookkeeper every time you want a status report of your financials. Bench’s software provides a feature that acts as a progress tracker so you can gauge where accounts are during the completion process. Bench saves you time, not to mention precious hair follicles, by arranging a team of accountants (and CPA staff) to keep your books. Bench operates as a web-based service designed to help small businesses manage (and small business owner teams) their finances and accounting. It was great to see a breakdown of all three financial statements for our business, both from a macro and micro perspective.

It helps you manage employees’ information, benefits, and deductions. Learn more about the solution by reading our review of Gusto. The Premium plan fulfills your bookkeeping needs and also provides help with your taxes. Additionally, Bench customers will get discounts from popular business subscriptions that have a partnership with Bench, like Gusto and Stripe.