Bench co Ratings & Customer Reviews Apr ’23

To stop you from worrying, Bench.co provides 256 bit-SSL/TLS encryption. That’s the same encryption level as used by many banks, and it’s believed to be impossible to hack. Online apps tremendously improve visibility and increase ease of access. You can check Bench so long as you have an internet connection.

Each staff reviewer at Merchant Maverick is a subject matter expert with experience researching, testing, and evaluating small business software and services. Merchant Maverick’s ratings are not influenced by affiliate partnerships. One of the major benefits of using Bench is that you work with your own team of professionals. You’ll have three members on your bookkeeping team, including a senior bookkeeper. If you sign up for Bench’s tax services, you’ll also have a tax coordinator, tax advisor, and tax preparer.

Best Online Bookkeeping Services in 2023

When the end of the year comes, your bookkeeper will prepare a tax package that contains everything you need to file. This gives you the ability to see your income statement, balance sheet, and visual reports that show you exactly the data you need to grow your business. And as controlling spending is part of growing your business, with Bench you’ll be able to manage your expenses efficiently. Ultimately, Bench helps you to track your business health and with monthly financial reporting.

In this way, you’ll always know where your business is at financially and how your cash flow looks like. This means it automatically import transactions, categorizes them, and then bookkeepers prepare monthly financial statements for you. All the hard work that they do mean that you can track your finances anywhere you are.

How do I get in touch with Bench support?

Bench.co’s service is built on their own proprietary software platform. Bookkeepers work directly from bank statements and not receipts. Reports displaying income, expenses, and profits make it simple to recognize patterns and trends in your finances as well as summarize complicated financial activity. If you don’t love Bench or want an additional option to check out, I recommend checking out EcomBalance.

I liked every person I interacted with and they were always very customer service oriented, My bookkeeper was extremely thorough and patient with me. Bench has failed to file 3 years of taxes while being paid thousands of dollars. Admittedly, I don’t know everything about finances and taxes – Hence why I got Bench.co. At the end of the relationship, I feel it cost me more overall for the service than the benifit. If I didn’t do it every month than they blamed me for my books not being done on time and being inaccurate. You may as well do your own books because they will charge you to do your own books…

Historical Bookkeeping

Your bookkeeper will categorize transactions, reconcile accounts, and prepare reports on your behalf. You’ll also be granted access to an online application that allows you to view the status of your financial data and communicate with your bookkeeper. Bench accounting software tracks financials and partners with a team of bookkeepers to do the books.

• Some online reviewers have noted problems such as limited customization and categorization.
• Bench is a subscription accounting service that connects organizational financial data with a team of professional bookkeepers.
• A general ledger represents the record-keeping system for a company’s financial data with debit and credit account records validated by a trial balance.
• Bench Accounting offers two monthly plans, Essential and Premium, which cost $299 and $499, respectively.
• At the end of the relationship, I feel it cost me more overall for the service than the benifit.
• I’m relieved that Bench has a system and staff to help me with this very vital part of running my own business.

The income statement and balance sheet completed by Bench are useful for people struggling through excel files wondering if they’re turning over a profit. These documents clarify whether you’re doing the right things, or need to switch it up and try something new. Bench.co allows you to provide your accountant or business partner with access to your financial info. Naturally, they must receive permission from you before doing so. Is its online platform that you’ll be using to communicate with your bookkeeper and monitor overall accounting progress. These calls are centered around reviews, obviously, hence you’ll be connected with your bookkeeper and discuss how things are progressing.

Bench.co Overview: What is Bench.co?

Now I am current with my books for 2023 and have already filed my 2022 taxes. NO STRESS I love bench and my new book keeper Michael is super sweet and so helpful with my questions. They basically set up auto categorization based off what they think everything should be categorized as.

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. Also, organisations can depend on Bench’s premium services to get expert tax prep, filing and year-round tax advisory support. Furthermore, monthly financial statements and expense overviews offered by the platform helps companies to stay in control of their money.

Bench Accounting customers appreciate that it is easy to use and that the user interface is very intuitive. They also like the ability to access Bench from anywhere when on the go and its tax and consulting services. Bench Accounting integrates with Gusto to help you manage your payroll transactions. Gusto files local, federal, and state payroll taxes automatically and generates W-2s. It helps you manage employees’ information, benefits, and deductions.

How much does Bench accounting cost?

If you are interested in Bench Accounting it might also be sensible to analyze other subcategories of Accounting Software collected in our base of B2B software reviews. It is a context aware health desk software which will help you to provide efficient customer… Multi-currency means using more than one currency in a multi currency bank account. Procurement or purchasing is the act of obtaining goods, supplies, and/or services. Therefore, project procurement is obtaining all of the materials and services required for the project. Accounts payable include all of the company’s short-term debts or obligations.

And in some ways, sticking to doing one thing well is beneficial. But it also means having to deal with lots of other providers and stitching various solutions together to get the job done. Here, you can check out Bench resellers, plan a trial with TEC’s neutral experts, and build your custom Bench software comparison document. You can also view vendor-specific blog posts, case studies, whitepapers, buyer’s guides, reports, and customer satisfaction reports.

Individuals and businesses alike benefit from good cash management. It is an important part of a company’s financial stability in business. Priced per month based on the number of monthly expenses, and accounts and add-ons . Need some training, coaching, a deep dive review of your books, or just some general business advice? Our Advisory service department can field all those questions, from one-off cash flow or projection projects to ongoing engagements to help you drive growth and profits. Bench.co offers bookkeeping for clients but no other direct services.

How much does Bench Accounting cost?

Tim is a Certified QuickBooks Time Pro, QuickBooks ProAdvisor, and CPA with 25 years of experience. He brings his expertise to Fit Small Business’s accounting content. Fit Small Business content and reviews are editorially independent. Proprietary software could make it difficult to switch providers.

I love Bench and recommend it to anyone who needs a way to quickly manage their finances. We’re concerned to hear about some of your frustrations, and would love the opportunity to connect with you to discuss this further. A member of our Client Success team has been in contact with you in regards to your case. However, it can be challenging for small businesses to keep up with the expense of the current bookkeeping fees Bench currently offers. Thank you for the time you take to leave a quick review of this software. Bench Accounting is connected to all major banks and popular payment gateways.

With that in mind let’s look at some of its standout features. Yet, it’s crucial, as a freelancer or small business owner, that your bookkeeping is up to date because it saves you a lot of hassles and stress when it comes to tax season. You’ll be able to keep tabs on your expenses , but most importantly, you’ll save time by hiring a dedicated bookkeeper to perform all the heavy lifting in your stead. You’ll sign up to a plan with Bench and they’ll assign one of their bookkeepers to you. They’ll keep you updated with how your accounts are looking and they’ll be available to contact you if you’ve got any issues.

Massive names such as Stripe, Shopify, and Bigcommerce all avail of Bench.co’s services. Bench has also been featured in the likes of the New York Times, Forbes, and The Huffington Post, so you’re finances are in safe, reputable hands. Sign up to receive more well-researched small business articles and topics in your inbox, personalized for you. This provides a summary of your assets, liabilities, and equity at a given point in time.

Also, several period costss over, my account was unassigned – sometimes for Months – causing me to miss tax deadline. In that 5 years, even thought you’re talking to ‘people’, I never got real or helpful answer to anything. Unless you can already do your books, this service is not good for people who really need someone help them for their finances. They were extremely helpful and responsive when I needed them.

• Through Bench Accounting, you can create visually engaging finance reports that summarize your revenues, expenses, and profit.
• She holds a Bachelor’s degree from UCLA and has served on the Board of the National Association of Women Business Owners.
• You’ll also be able to get in contact with your bookkeeper if you have any questions or queries at that stage.
• Tax services, retroactive bookkeeping, and specialized accounting are available at an additional cost.

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. You’ll also have access to a tax professional to help you make tax preparation and filing easier. Upon enrollment, you’ll be paired with your own dedicated bookkeeper. If you need to contact your bookkeeper, you can book a call or message them directly through the app. One of the most appealing features of Bench is that you have access to unlimited support, no matter which plan you choose. Bench Accounting offers two monthly plans, Essential and Premium, which cost $299 and $499, respectively.

According to Bench.co’s website, this quality control, if you will, is performed by a member of Bench’s in-house team. After originally relying on an accounting firm, Trigg Wilkes decided there had to be a better way to manage his books, on his time. Thousands of small business owners trust Bench with their books. Here’s how we’ve helped our customers across North America focus on what they do best. Danielle is a writer for the Finance division of Fit Small Business. She has owned a bookkeeping and payroll service that specializes in small business, for over twenty years.