Bookkeeping

Some basic accounting software functions are missing such as time tracking and bank reconciliation and payment processing is only in the paid version. Timely responses help your bookkeeping team keep your books up to date and avoid delays. Staying on top of this ensures a stress-free tax season and gives you access to current financial insights, empowering you to make informed, impactful decisions for your business. Small businesses don’t have to use accrual basis accounting, but it typically provides bench accounting more accurate insight into your finances than cash basis accounting does.

Simplify your small business bookkeeping with Bench.

• Accounting software, like most software, is limited in its abilities because it’s designed to address a specific need.
• In this way, Bench can replace traditional accounting software for many businesses.
• You will be asked to log in to your Gusto payroll account and authorize Bench to collect the data.
• The basic plan for small business owners covers monthly bookkeeping and tax-ready financial packages.
• Sage 50 cloud accounting is one of the more robust offerings on this list.
• We don’t sync your financial data from any other bookkeeping software.

We’re still on hand to support you, and can give recommendations based on your unique business needs. When your bookkeeping is up-to-date, you avoid scrambling to get caught up before the tax deadline, or missing out on any deductions. If you’re unsure if cash basis bookkeeping will work for your business, talk to us. We’d be happy to understand the needs of your business and determine if Bench is a good fit for you. We don’t offer any of those services, but we do partner with other companies (like Gusto and Freshbooks) that specialize in different areas of business admin. We use Plaid, which lets you securely connect your financial accounts to Bench in seconds.

Key Features of Bench Accounting

Each month, we may check in with you to ensure your books are accurate and your deductions are maximized. If Bench’s lack of accounting integrations is a concern, instead consider QuickBooks Online with QuickBooks Live full-service bookkeeping added on. 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. Bench has a proprietary bookkeeping system that doesn’t sync with other accounting software.

Tax Season

• Message your team any time, or book a call whenever you like.
• From year-round tax advice to expert filing, we make sure you get the most out of your return—no hidden fees, no last-minute surprises.
• You want to make sure you can learn what you need to know in order to be up and running quickly, without having to set aside multiple days for training.
• Each customer’s main point of contact is a dedicated in-house, professionally-trained bookkeeper, based in North America.
• We can even give your accountant a login to your Bench account so they can view all your financials, and message your Bench bookkeeper directly if they have questions.
• Each Bench bundle has a different set of services that are customized to your business’ needs.

Utilizing cutting-edge tech, we ensure seamless processes and accurate data management. Simplify your finances and grow your business with proactive guidance and innovative solutions. If you need help with payroll, you’ll need to invest in another service. Bench themselves recommend using Gusto, and if you do, you’ll get a 30% discount on Gusto’s services since Bench is a partner. Fincent is highly similar to Bench, in that you can access a team of live bookkeepers – not an AI tool.

General Ledger & Chart of Accounts

Bench offers two plans – one for basic bookkeeping and another that adds tax filing. Join Bench today and experience the difference of having your financial team just a message away. We believe everyone should Partnership Accounting be able to make financial decisions with confidence. Instead of importing your books, we use your bank statements as our source of truth. Send us your latest balance sheet and income statement, and you’re all set.

When to Use your Various Financial Reports

This integration streamlines transaction tracking and reduces manual data entry. Xero is known for its 1,000+ integrations and unlimited users and companies on all plans but has issues with usability, including unclear navigation and dashboard font that’s difficult to read. Sign up and get a free month of bookkeeping, valued at $299. Pricing starts at $10/month retained earnings balance sheet for 40 invoices and 40 estimates, and scales to $30/month for unlimited invoices and estimates. Granted, it was during standard business hours, so I am unsure of how it would work outside that timeframe.

• QuickBooks, Xero and other do-it-yourself bookkeeping software give you a tool to do your own bookkeeping and taxes.
• While it may be more expensive than some software-only solutions, many users find the added expertise and time savings justify the cost.
• And unlike other services, we never limit support based on business size.
• Bench works exclusively with small businesses, from established operations to fresh, growing businesses.
• Being able to upload reports easily from my bank and various credit card processors made things so much easier, and the bookkeepers learned quickly how to categorize the transactions.

We take care of bookkeeping and tax for small business owners. And we do it in a way that’s never been done before—by pairing intuitive software with real, human bookkeepers. It’s giving entrepreneurs more time to focus on what they care about.