Both Bench and Plaid are SOC-2 compliant with security practices that meet or exceed industry standards. You’ll receive unlimited support from real humans, allowing you to take the guesswork out of running your business. After you sign up to Bench, a dedicated member of our team will assist you in connecting all your financial accounts securely to our platform. This enables you and your bookkeeper to work together seamlessly from the start. Our year-round tax support means you’ll never have to worry about missing a deadline again.
- No extra fees, no year-end surprises—just expert tax support you can rely on.
- Some competitors’ prices increase as your average monthly expenses rise, and others require a subscription to specific accounting software, which adds additional expenses.
- Bench Accounting’s mobile app is available for iOS users and provides financial reporting functionality and real-time cash flow updates.
- Start a free trial and learn how Bench can take tax and bookkeeping stress off your plate for good.
$249/month (billed annually) or $299/month (billed monthly). And unlike other services, we never limit support based on business size. Easily see your updated financial data every time you log in. With real-time https://accounting-services.net/ insights, you can make on-the-fly decisions about where to spend and where to save, helping your business stay on budget. It’s easy to view monthly or yearly financial reports with a couple of clicks.
Part of what makes Bench unique is that we blend together the human touch with modern technology. Although it costs extra, Bench can go back in time and track previous months or even years of income and expenses for you. This is most useful if you’re joining Bench late in the fiscal year and want to get everything documented for tax time. You can focus on what matters the most in your business, while your books are being done for you.
Or, let us handle the year end prep and filing for you with BenchTax. With our resources and expert team, you’ll also get a full understanding of IRS requirements for mixing personal and business transactions based on your corporate entity. There are some times that we’ll request documents from you (like account statements or receipts), just to ensure the information we have is correct. If you need to share files with your bookkeeping team, it’s as simple as uploading a file. If you’re several years behind on your bookkeeping and taxes, you can get caught up and filed with Bench Retro. Bench.co has been great for me, and it will be for many of you, too.
Popular Questions
That’s why we offer year-round advisory services through on-demand and unlimited tax consultations. With check-ins throughout the year, your tax team leaves no deductions behind. Each month, your bookkeeper organizes your business transactions and gets to work on your books. Come year-end, they’ll compile a tidy tax package that contains everything we need to file—and gives you a year-in-review snapshot of your business. For an additional fee, Bench provides overdue bookkeeping services and can finish a year’s worth of bookkeeping in about two to four weeks. This could be helpful if you’ve been behind on your books all year and tax deadlines are approaching.
Bench Accounting Bookkeeping Features & Services
When you’re ready to file, your dedicated Tax Coordinator will collect all necessary documents and forms. Then your Bench Tax Advisor will facilitate the preparation, review and filing of your income tax return on time, every time. 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.
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. Your bookkeeper reconciles your accounts, categorizes your transactions, and produces your financial bench accounting login statements. They also make adjustments to your books to ensure they’re accurate and tax-compliant. Occasionally your bookkeeper might need your input on things like categorizing a transaction properly, but we try our best to make bookkeeping as hands-off as possible for you.
You’re our first priority.Every time.
Many or all of the products featured here are from our partners who compensate us. This influences which products we write about and where and how the product appears on a page. Here is a list of our partners and here’s how we make money. As of August 2019, Bench announced BenchTax in partnership with Taxfyle[14] in order to provide tax preparation and filing for clients.
The developer, Bench Accounting, Inc., has not provided details about its privacy practices and handling of data to Apple. For more information, see the developer’s privacy policy. This provides a summary of your assets, liabilities, and equity at a given point in time. This report shows the areas of your business where you spend the most money.
One tidy Year End Financial Package
See how Bench can help you have better finances to grow your business. Get started with a free historical month of bookkeeping and full access to the Bench platform. Plus, our team of experts can answer any questions you may have. We can complete accrual adjustments like tracking accounts receivable and/or accounts payable, unearned revenue tracking, and more with our specialized accounting add-on.
Once you securely connect your financial accounts to the Bench platform, we’ll pair you with a dedicated bookkeeper. Using Bench is different from having a subscription to accounting software like QuickBooks Online or Xero. These products can streamline tasks like reconciling accounts and categorizing transactions, but they don’t take bookkeeping off your plate completely like Bench does. Unlike accounting software, however, Bench doesn’t offer tools for invoicing, inventory management or bill payment. Each customer’s main point of contact is a dedicated in-house, professionally-trained bookkeeper, based in North America.
No extra fees, no year-end surprises—just expert tax support you can rely on. 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. Bench does offer accrual adjustments, but they start at an extra $100 per month. Otherwise, the program sticks to cash basis accounting.