In this article, you’ll read in-depth bench accounting reviews, why you need them to handle your bookkeeping for you and their alternatives.
Bookkeeping and tax filling are the toughest activities in business but no business can’t effectively do away without them.
Every business needs concrete bookkeeping services to maintain a healthy financial flow.
But hiring an in-house bookkeeper is expensive to many small businesses and freelancers, that’s why a company like a bench exist to wave away the stress from you at a very affordable cost.
So are you ready to learn more about Bench accounting today and automate your bookkeeping activities in matters of minutes?
If so, let’s get started.
Table Of Contents
- 1 Bench Accounting Reviews
- 2 Who bench is for?
Bench Accounting Reviews
What is bench accounting?
Bench accounting is an online bookkeeping services company that would handle your bookkeeping for you so that you can focus on growing your business.
Bench gives you a professional bookkeeper at a price you can afford and powerful financial reporting software with a zero learning curve.
With bench you don’t need to do your bookkeeping or hire an in-house bookkeeper, they do that for you, so you don’t have to, unlike other DIY software.
There’s zero learning curve with bench software.
Instead, they paired you with a dedicated expert who knows your business and he is with you every step of the process.
It’s all the benefits of an in-house bookkeeper at a low cost.
Who bench is for?
A bench is for any small business or freelancers in the USA that needs the service of an expert bookkeeper at an affordable cost.
Bench gives your business an all-in-one tax and bookkeeping solution at a price you can afford.
One-on-one expert support
You’ll receive real support from real humans, allowing you to take the guesswork out of running your business.
Powerful financial reporting
See how your business is doing, master your spending, and make smarter decisions with your money every step of the way.
Stress-free tax filing
Never miss a deadline again with year-round support from your Bench Tax Advisor.
Come tax time, your Taxfyle Tax Preparer leaves no deductions behind.
Right now bench only render service to business or individual reside in the United state so if your business resides in the USA and you are currently looking for a professional bookkeeper for your business them bench accounting get you covered.
5. Reason why you need bench accounting for your business
There are tons of reasons why you need a service of bookkeeping services company like the bench.
But we would only discuss 5 which are the major reasons.
1. Save money
Working with bench accounting will get you rid of so many expenses, such as office space for an in-house bookkeeper, desk, computer, internet connection fees, huge bookkeeper salaries, allowance etc.
Which means more money in your pocket.
According to salary.com, every in-house bookkeeper salary is around $38,937-$49,768 per annual but with bench, you can get your entire bookkeeping done for just $599/month or $5,748/year.
Can you see the difference?
It huge right?
I think so.
Nearly all virtual bookkeepers are professional who knows their job and how to do it effectively.
So are bench staffs too.
To hire a professional bookkeeper require a huge sum of money but with a virtual bookkeeping services company, you can get started working with high skilful professional and talented bookkeeper at affordable cost.
3. Save time
Bookkeeping is one of the most time-consuming business activities.
Working with a bookkeeping services provider like bench accounting will grant you a lot of time to focus on growing your business.
You don’t have to involve in bookkeeping activities every day anymore all you have to do is to schedule time with them which means at your own convince.
4. Tax preparation
Tax preparation can be a lot of work and it’s a must to do if you really want to run your business smoothly in your country.
To avoid time-wasting and government harassment folks at the bench can help you get rid of these challenges easily.
5. 5 stars customer services
Nothing annoying like trying to reach or need help from your business partner and they aren’t available to help you out.
Every of their plan includes a dedicated team of small business bookkeeping experts that will work with you day in day out to make sure everything is in order.
Bench accounting services
They have four main services that are highly useful to any small business that needs their services
1. Bookkeeping and financial services
This service is for business owners looking for bookkeeping, tax, advisory, or banking services
Meet your all-star team of small business experts. With online bookkeeping, tax filing, banking, and real human support, it’s the all-in-one financial solution your business deserves.
This is how this their service works:
a. They get you set up: First, they’ll get to know your business. they’ll show you how Bench works and walk you through included services, like tax advisory and their free business checking account.
b. They do your bookkeeping: Each month, your bookkeeper organizes your business transactions and prepares financial statements. If they need anything from you, they’ll get in touch.
c. They file your taxes: Your Tax Advisor is on hand year-round to support your business. Come tax time, your tax team takes care of everything to make your tax filing simple and stress-free.
3. Catch-up bookkeeping
This service is for business owners who are less than 2 years late on their bookkeeping.
Get your finances in the clear with this Catch-Up Bookkeeping service.
Feel like you’re drowning in overdue bookkeeping?
Bench has you covered.
They’ll pair you with an expert bookkeeper to get your bookkeeping up-to-date and fully ready to file fast.
This is how this service works;
a. Tidy tax-ready financials: Filing is Though.
That’s why they send a financial package for each year of catch up.
It’s every document you need to get organized and ready to file, in one place.
b. Fast turnaround times: Bench can complete months or years of overdue bookkeeping—fast.
That means more time for your business and way less deadline stress.
c. Get your own experienced team: Even if you’re missing documents or have messy records, Bench has you covered.
They’re experts at tackling months or years of tough historical bookkeeping.
d. Fit for financial relief: For any Catch-Up Bookkeeping work we complete, they’ll send the supporting documents needed to apply for Paycheck Protection or an SBA Disaster Loan.
4. Bench Retro
Bench retro is for business owners who are more than two years behind on their bookkeeping.
If you’re several years late on your bookkeeping then this services is for you.
Bench retro gives you a specialised team of experts to get you back up with your bookkeeping and tax quickly as possible.
There are the major Bench accounting services.
If you need anything other than that you can book a call with the supporting team to answer all your queries.
Bench Pricing Plans
Bench has pricing plans that suit all kind of businesses and freelancers.
Their Pricing plans are tailored to your expenses, so here is their plan list below;
|Bench Plans||Average Monthly Expenses||Monthly Fee, When paid Annually||Free Trial|
Every plan comes with your own dedicated bookkeeper and intuitive software to track your bookkeeping services progress and finances.
If your expenses is more than what you have seen in the table above, you have nothing to worry about.
Bench still have room for you, all you have to is speak to their expert and they would gladly meet your need.
You can get started working with Bench without paying a dime.
The reason behind this; is for you to test whether they are truly the type of bookkeepers you’re looking for.
Bench pros and cons
Working with professional bookkeepers have a lot of benefits and everything that has merits have demerits, so let’s quickly look into the pros and cons of working with bench accounting.
- It saves you time
- They’re fast and reliable to boost up your bookkeeping
- It saves you money
- Catch-up bookkeeping service available
- It’s free for 30 days
- To level data security
- It grants you access to professional bookkeepers at a low cost
- It relieves the stress of your head
- 24/7 support
- With your books, in order, you’ll be able to maximize write-off at tax time.
- Tax season is hectic, but Bench you can get prepped and fled without the stress since they’ll get your books updated and organized.
- Bench offers automated document collection—allowing you to offload tedious admin, so you can focus your energy on generating revenue.
- Bench reports are built for busy entrepreneurs and help you make better business decisions.
- Bench has a built-in tool (Pulse) that gives you up-to-date insights into your cash flow and spending habits.
- Bench can take care of fling and offers year-round tax advisory support.
- The have in-house tax preparers that can prepare all your tax very quickly and the best part is that this service is included in all the plans.
- It’s hard to switch to another platform according to some of their users
Bench frequent ask question (FAQ)
1 How does bench accounting work?
Bench team will run your bookkeeping if you signed up with them. They’ll also assign you a dedicated bookkeeper that will help you with all the help you might need daily.
Bench Accounting does bookkeeping monthly. After you sign up for a Bench account, They will connect your financial accounts, which includes bank accounts, credit cards, loans and merchant processors to your Bench account.
Your bench accounting team of bookkeepers will categorize all your transactions, reconcile your bank accounts and prepare financial statements for each month within 15 business days.
When your bookkeeping is been done for the month, you’ll receive a message.
At that point, you can view your financial statements and account information online. If you have any questions, it’s easy to get in touch with your Bench bookkeepers by sending them an in-app message or calling them.
2. Who is the CEO of Bench?
Ian Crosby is the co-founder and CEO of Bench, North America’s largest bookkeeping service.
And Bench was founded in 2012 by Ian Crosby, along with Jordan Menashy, Adam Saint, and Pavel Rodionov.
3. Do Bench and Quickbook online the same?
No…They will help you do your bookkeeping while with Quickbook online or Xero you’ll do your bookkeeping yourself with help of the apps.
4. Which Bench plan is good for my business?
During your first month free trial with them, they’ll evaluate your business monthly expenses volume and recommend you the best plan that fit your business.
5. Do I pay an extra fee for the account and add-on?
Not at all – all Bench plans include monthly bookkeeping for up to 15 financial accounts. This includes bank accounts, credit cards, loans, and merchant processors.
6. Where does bench accounting locate?
- Monthly bookkeeping and annual financial statements.
- Year-round tax advisory and tax filing services.
- Unlimited expert support for small business owners.
- Historical bookkeeping for clients who need to get caught up fast.
Is Bench right for my business?
Here’s what small businesses at Bench have in common:
- US-based business.
- $0-5 million in annual revenue.
- 1-5 physical locations.
- 20 employees or less.
- S-Corp, C-Corp, Partnership, or Sole Prop entity structure.
Bench accounting alternative
Botkeeper provides bookkeeping and pre-accounting services to their clients.
Botkeeper combines artificial intelligence and machine learning technology, with high-quality skilled accountants to deliver a full-suite bookkeeping & pre-accounting solution to Accounting firms, and their clients.
You and your client base will receive 24/7 accounting and support as well as incredible insight into financials with beautiful dashboards and unlimited reporting.
Botkeeper starts by securely integrating with banks, credit cards, payroll providers, and more to access and extract data from both financial and non-financial sources to fulfil your bookkeeping and tax filing.
Botkeeper Pricing Plans
Botkeeper pricing plan Starting at $55 per month if billed annually
What if we told you that financepal could make the stress of accounting, bookkeeping, payroll, and tax prep a thing of the past?
With FinancePal, you get streamlined, trusted financial solution in one place.
Their experienced CPAs and tax practitioners are well-versed in the accounting and tax requirements that are specific to small businesses and startups like yours.
You’ll be assigned a dedicated financial team, so you’ll only work with someone familiar with you, your business, and your financials.
Their team is U.S.-based and readily available to help you with any questions, concerns, or planning you may need. Learn more about FinancePal here.
3. Punch Financial
Punch Financial is a U.S. based team of accountants, bookkeepers and CFO’s, who specialize in Quickbooks Online and working with high-growth companies.
Why hire an in-house CFO and accounting team when for a fraction of the cost you can outsource the best team with proven results?
Get so much more than accounting—get expert business strategies aimed at helping you achieve your goals.
You can learn more about them here.
Quickbook online: Quickbook is one of the most famous accounting and bookkeeping tool on the planet. They made a name because of their incredible platform that makes it easy for people to run their accounting and bookkeeping task on their own from anywhere of their choice.
TaxJar: They helps businesses of all sizes remove barriers to growth and compliance. Manage your entire sales tax life cycle — from calculations and nexus tracking to reporting and filing — with our cloud-based, automated platform.
Does this Bench accounting review cover what you’re looking for?