Your bookkeeper reconciles your accounts, categorizes your transactions, and produces your financial 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 can also book a call with your bookkeeper (or send them a message) whenever you’d like. There’s no extra fee or hourly charges for support—we’re always happy to nerd out about bookkeeping and your financial statements. The Bench platform gives you monthly financial statements and expense overviews to keep you in control of your money.

• During your free trial, we’ll walk you through the services included in each Bench bundle to determine which is the best fit for your business.
• The developer, Bench Accounting, Inc., has not provided details about its privacy practices and handling of data to Apple.
• And unlike other services, we never limit support based on business size.
• Each month, your bookkeeper organizes your business transactions and prepares financial statements.

If you have any questions, you can get in touch with your Bench bookkeepers via in-app message or by booking a call. We have worked with many clients who have switched from Bench to Crucial Accounting Tips For Small Start-up Business Xero. While we did have to go back and recreate our clients’ accounting files, this didn’t overburden us with work and we didn’t have to stress our clients with additional costs.

Increase your productivity with Bench

Bench should be able to serve Freelancers and Micro Businesses well. If you need a basic, no-frills bookkeeping company- Bench may be the right fit for you. Live and on-demand webinars hosted by tax and bookkeeping experts. The developer will be required to provide privacy details when they submit their next app update.

See what our small business owners are up to, and join the conversation. If you’re switching from QuickBooks, we’ll work from your closing balances to do your bookkeeping going forward. If you’re not sure whether your closing balances are accurate, we recommend chatting with one of our Onboarding Specialists about Catch Up bookkeeping. 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.

Explore over 600 resources for managing small business finances

This is an expensive time to be running a small business, but there are ways to protect yourself from the effects of inflation.

• Or, let us handle the year end prep and filing for you with BenchTax.
• Even with the Simple Start plan, QuickBooks offers a range of features that Bench does not—from mileage tracking to invoicing to accepting payments.
• At that point, you can view your financial statements and account information online.
• $399/month (billed annually) or $499/month (billed monthly).
• This enables you and your bookkeeper to work together seamlessly from the start.
• Your bookkeeper reconciles your accounts, categorizes your transactions, and produces your financial statements.

Although Bench can handle bookkeeping on your behalf, QuickBooks allows you to manage more of your accounting tasks in one place. Even with the Simple Start plan, QuickBooks offers a range of features that Bench does not—from mileage tracking to invoicing to accepting payments. Finding the right business accounting software can significantly streamline your financial processes, especially if you’ve been managing your books by hand. Luckily, between the tried-and-true solutions, like QuickBooks Online, to the newer players, like Bench, there are a number of competitive options for you to choose from. If you’re wondering specifically how Bench and QuickBooks compare to one another, we’re here to help. Bench provides cash-basis bookkeeping services that include receipt management, transaction classification, and financial statement prep.

QuickBooks Live Bookkeeping

Therefore, QuickBooks is a much more functional software, even though you’ll need to pay for QuickBooks Live Bookkeeping on top of your monthly QuickBooks Online subscription to access the same personalized service as Bench. As you can see, as an online bookkeeping service, the features of Bench are focused on basic bookkeeping and financial reports—taking https://turbo-tax.org/law-firm-accounting-and-bookkeeping-101/ on these monthly responsibilities on behalf of your business. If you think Bench is the right option for your business, you can get 30% off your first three months. We can complete accrual adjustments like tracking accounts receivable and/or accounts payable, unearned revenue tracking, and more with our specialized accounting add-on.

Bench and Freshbooks host a free small business webinar to walkthrough the skills needed to take control of your finances, make data-informed decisions, and drive sustainable growth. We take care of the tedious bookkeeping work, you get more time to focus on what you care about—helping your business succeed. Financial mastery is the idea that everyone, regardless of economic standing, should have full control of their finances. It’s more than knowing how to read an account statement—it’s giving people the tools they need to stay on top of their finances, and improve their lives.People and the quality of their lives.That, at its core, is what Bench is about. From creatives to chiropractors, Bench supports thousands of small business owners across the United States.

What does Bench cost?

$399/month (billed annually) or $499/month (billed monthly). $249/month (billed annually) or $299/month (billed monthly). As of August 2019, Bench announced BenchTax in partnership with Taxfyle[14] in order to provide tax preparation and filing for clients.