Bench Accounting Review: Pricing, Features, Alternatives

I was free to focus on making meaningful progress on my business and helping others change their lives with Alma Modern. The employees who work for bench are super responsive and helpful in determing how to best categorize expenses for my small business. They put together a fabulous tax packet ever year that helps make tax time easy, and swift, https://www.bookstime.com/ and slightly less painful. Bench recently added 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. You’ll have access to IRS forms for filing and reports that provide the information you need to process your 1099s.

• Navigating to the service’s self-help features was a bit counterintuitive for me since I happened to find it by accident.
• 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.
• It’s disheartening to hear that we fell short of your expectations, especially during a time so important as tax season.
• The price, however, is too much for someone who is self-employed or a small business owner with limited transactions.
• Thank you David, for taking the time to provide your feedback.

Best Online Bookkeeping Services for Freelancers 2024

Offers less expensive plans for businesses that need tax support and a dedicated accountant, but not bookkeeping assistance. Hi Lucas, We’re delighted to hear that you found our team transparent, nice, and helpful! Providing clear guidance and excellent customer service is what we aim for, and we’re grateful for your recommendation to others in need of bookkeeping help. Hi Samantha, We’re sorry to hear about your previous experience but thrilled that Poppy was able to turn it around for you! Providing assistance to first-time business owners navigating tax season is what we do best.

Simplify your small business bookkeeping with Bench.

95+ years of combined experience covering small business and personal finance. Bench has been engineered to run its software-as-a-service packages on either a mobile device or a desktop machine via a web browser using internet connectivity. I have used bench since 2017 and they have always been very accommodating for my small boutique business.

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There is a Gusto integration, so you can see everything in one place using their 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 integrates with Stripe accounts, Square accounts, and Shopify accounts. You’ll need to use one of these merchant processors if you want to take advantage of automatic transactions from the start. In this Bench review, I take a look at the most prominent features, pricing, and other details to help you get your questions answered. We use Plaid, which lets you securely connect your financial accounts to Bench in seconds.

Bench.co’s Financial Reporting

• Offers add-ons for catch-up bookkeeping and specialized bookkeeping.
• In order for your bookkeeper to complete your accounts, you’re going to need to supply them with your financial details.
• However, they were unhappy with the level of financial statements customization and categorization provided by Bench within these reports.
• All in all Bench is a very straightforward service to sign up for and start using.
• “I tried doing my numbers and filing taxes myself, and then I continued to try, and I just was like, I’m spending way too much time being miserable doing this.”

Bench.co hire real-world professionals to keep their client books and basically take care of all your bookkeeping needs. Bench pricing is relatively affordable for all business sizes, and its system is easy to get the hang of. Bench configures your partnership by pairing you with a bookkeeper. Bench.co is an online accounting service that pairs your business with a team of Bench bookkeeping professionals. It’s been great turning my bookkeeping over to Bench and knowing it will be done well, so I can focus on what I love to do.

I over paid taxes in 2022 and it almost ruined my business. Bench is not an accounting service, they are a Ponzi scheme that is trying to scale into profitability. Everyone on the bench team has been super helpful and seems like they know their stuff. And wish they were a bit more direct about estimated taxes — when they were due, how much I should pay, etc. We’re delighted to hear that Bench has been able to relieve you of the stress of managing your finances.

If you elect for an annual contract, then monthly prices go down to $249 for Essential and $399 for Premium. Both include monthly bookkeeping and year-end reporting, but Premium gives you more features, such as unlimited tax advisory services and bench accounting login federal and state income tax filings. A bookkeeping provider like Bench can help you understand your cash flow better by seeing financial reports and visual reports. Then you can adjust your business strategy if you’re not meeting your goals.

Perfect books No need to second guess whether your bookkeeping is done correctly. See your business’s financial health at a glance, and stay in control of cash flow. Online services may offer one-on-one meetings, but you might have to pay more. If you want a higher level of support in the future, such as chief financial officer or CFO-style services, consider choosing a bookkeeping service that will allow you to upgrade later.

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. I’m not sure when I would have caught up on my historical books without Bench. I’ve been able to link the reports to my card processing software and bank, and get updates as they have questions. I find the monthly reports easy to understand and its given me a much clearer picture of my numbers. You will work with a Bench bookkeeping team to reconcile your business’s monthly expenses. Additionally, you can add on services that track your accounts receivable, accounts payable, and unearned revenue.