The platform 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. You’ll also have access to a tax professional to help you make tax preparation and filing easier. Bench Accounting is an online bookkeeping service that combines proprietary software with human expertise. Founded in 2012, Bench has quickly become a popular choice for small business owners looking to outsource their bookkeeping tasks. The company's mission is to simplify financial management, allowing entrepreneurs to focus on growing their businesses rather than getting bogged down in numbers.

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• Bench Accounting, North America’s largest bookkeeping service for small businesses, has abruptly closed.
• It allowed me to suggest a new category where I saw relevant and save the note for bookkeeper review.
• All plans include monthly bookkeeping, year-end financial package, and unlimited support.
• When you sign up, you’ll be matched with a dedicated bookkeeper who is backed by a team of in-house accountants.
• For S-corps, C-corps, and partnerships, you can add-on personal filing for 1 partner or shareholder for just $59/mo when billed annually or $69/mo when billed monthly.

And unlike other services, we never limit support based on business size. Bench pricing ranges from $249.00 to $499.00 per month, bench accounting depending on the size of your business. If you need help with payroll, you’ll need to invest in another service.

• The human touch sets Bench apart from purely software-based solutions.
• Many, or all, of the products featured on this page are from our advertising partners who compensate us when you take certain actions on our website or click to take an action on their website.
• If you need historical bookkeeping, you can sign up for Bench’s catch-up bookkeeping services.
• I tested it with Stripe, and it worked well, but as with my bank account, it did take some time to pull in all the information and categorize it.
• Bench could work well for freelancers or small businesses that have easy monthly bookkeeping.
• Small businesses don’t have to use accrual basis accounting, but it typically provides more accurate insight into your finances than cash basis accounting does.

Best Online Bookkeeping Services

Our intuitive software automates the busywork with powerful tools and features designed to help you simplify your financial management and make informed business decisions. If you only need basic bookkeeping and your business makes enough money to sustain the $299 monthly price tag for unlimited monthly bookkeeping support, then Bench is a cost-effective solution. When your books are completed, your dedicated tax coordinator will help you track down forms to help you simplify the filing process. Bench partners with Taxfyle for filing your return at the end of the year and offers 1099 reporting, with reports available year-round. Your 1099 transactions will be categorized with the date, details, and the payee name, making it easier to process forms.

• There wasn’t a clear “FAQ/Help” section in the dashboard, as they direct you to message your bookkeeper directly.
• Its score took a slight hit in this category because it doesn’t offer CFO advice, but you do have access to unlimited tax advisory services.
• The Bench platform gives you monthly financial statements and expense overviews to keep you in control of your money.
• See your business’s financial health at a glance, and stay in control of cash flow.
• Occasionally, we may need additional documents, such as account statements or receipts, to ensure the information we have is accurate.
• Try us for free—we’ll do one prior month of your bookkeeping and prepare a set of financial statements for you to keep.
• It eliminates the need for manual uploads, with your data appearing in your account instantly.

Bench Accounting Personal Bookkeeper

• 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.
• If you need to contact your bookkeeper, you can book a call or message them directly through the app.
• Reach out anytime — we’d love to learn more about your business needs and see how Bench can support you.
• Danielle Bauter is a writer for the Accounting division of Fit Small Business.
• For businesses that have fallen behind on their bookkeeping, Bench offers a catch-up service to bring your books up to date quickly and efficiently.
• These criteria were disregarded for providers where no reviews were found.

Every report accessible in the Bench platform can be exported to an Excel file for easy sharing with anyone from business partners to accountants. Get free guides, articles, tools and calculators to help you navigate contra asset account the financial side of your business with ease. A year end package with everything you need to file comes standard with Bench. With our Bookkeeping & Tax plan, you get expert tax prep, filing, and year-round tax advisory support.

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 CPA. We evaluated Bench Accounting based on user reviews, pricing, personal bookkeeper, bookkeeping services, and tax and consulting services. 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. Get intuitive software that syncs directly with your small business accounts to deliver tidy, perfect books each month. That means if you want to scale and change providers in the future, you’ll have some trouble.

These reports offer valuable insights into your business's financial health and performance trends. Bench trains all their accountants in-house and each employee undergoes extensive background checks. As an Bookkeeping for Veterinarians extra safety measure, your data is protected with 256-bit SSL/TLS encryption—the same level of security you get with online banking and shopping.