These reports can help you understand your expenses better (where your money is going), and other financial trends to help you run your business more effectively. 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 https://personal-accounting.org/accounting-articles/ clarify whether you’re doing the right things, or need to switch it up and try something new. It’s not cheap, but at the end of the day, I’m not worried about the state of my books, and tax season was a breeze. Unless I find someone else offering all of this at a cheaper rate, I’ll continue to pay for Bench’s services.
- When you deliver this package to an accountant, they can use it to file your taxes.
- 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.
- Upgrade your plan, and cross even more off your to-do list.
An in-house CPA can be a trusted accredited advisor equipped with deep accounting technical information. No, Bench uses their own proprietary bookkeeping platform. This has actually saved me a lot of money in the past due to charges that weren’t approved. Here’s a peak inside of my account from 2016 (click on the image to expand on desktop to really see things). It’s easy to navigate and stores a lot of insightful data.
Bench Bookkeeping FAQ
If they’re not sure how a specific transaction should be categorized, they’ll message you. On the other hand, if most of your records are digital—you use online banking, and accept credit card payments—you may be better off using a virtual bookkeeping solution like Bench. Your bookkeeper will also reconcile your bank statements on a regular basis, so you can be sure that the amount of money reported on the books is the amount you have in the bank. No waiting for hours on hold—just helpful support from real people. They’ll take care of your taxes and provide a helpful system to monitor your accounts. You’ll sign up to a plan with Bench and they’ll assign one of their bookkeepers to you.
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. You’ve got a million and one other things you’d rather be doing, but instead your flicking through ledgers and zipping through excel files. You can’t find your pen and your beginning to tear chunks of hair from your skull in desperation. Companies can ask for reviews via automatic invitations. Labeled Verified, they’re about genuine experiences.Learn more about other kinds of reviews.
However, it costs $83 more to avail of specialized bookkeeping. Also, should you choose to avail of sole prop filing, business filing and business/personal filing you’ll be paying $600-$1,320 extra. Once your books are complete, your bookkeeper will update the status of the task on Bench’s platform to acknowledge that fact. You’ll then be able to analyze and review accounts via the “reports” section. Bench’s app is its online platform that you’ll be using to communicate with your bookkeeper and monitor overall accounting progress.
Take charge of your career
Cloud-based accounting software, such as Bench, has been gaining in popularity for some time now. So, keep reading to find out why in our Bench.co review. They were so late in getting my extension taxes done that I now have to file a paper return for my business. Once I finally received my tax return, they attached another client’s coversheet with their names and refund amount. Bench was great–until it wasn’t.I’ve been shuffled around various different bookkeepers over the past 2 years.
Legal and compliance responsibilities as a S corporation
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. We use dedicated people and clever technology to safeguard our platform. People who write reviews have ownership to edit or delete them at any time, and they’ll be displayed as long as an account is active.
Artists are not good with accounting!
It is such a great thing to help take something off my plate being a solo team doing everything. Was also amazing with helping me get my next business set. If you sign up for a Premium Bench account, you can get tax services like having your forms finalized and filed all in one place. Bench accounting can help make tax season less of a headache. An accounting software or service can help you avoid costly mistakes and get a clear picture of your overall finances. Use Nav to find the right accounting solution for your business.
Tax season, minus the stress
You can avail of specialized bookkeeping with all plans as an add-on. Your bookkeeper will import your financial data every month to tot up your expenses and whatnot. Bench is best suited to a small business owner having trouble managing their financial accounts.
Trusted by 25,000+ American small business owners
If you have any questions, you can call your bookkeeper, send an email, or send a message any time using the Bench app. You’ll always get a response within 24 hours, even if your regular bookkeeper is sick or away. And, similar to a freelance bookkeeper, your Bench team will work with you to get to know your business.