Compared with other bookkeeping services, Bench is relatively affordable, starting at $249 per month. Some competitors’ prices increase as your average monthly expenses rise, and others require a subscription to specific accounting software, which adds additional expenses. Your bookkeeping team reconciles your accounts, categorizes your transactions, and produces your financial statements. They also make adjustments to your books to ensure they’re accurate bench accounting and tax-compliant. Occasionally we 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. The main reason the platform didn’t score better in our Bench Accounting review is that it lacks bill payment and invoicing services, but most companies choose to handle those back-office tasks themselves.

Bench Accounting Bookkeeping Features & Services

You should be able to access a dedicated bookkeeper for any questions or advice and one-on-one assistance. The Fit Small Business editorial policy is rooted in the company’s mission, which is to deliver the best answers to people’s questions. This serves as the foundation for all content, demonstrating a clear dedication to providing valuable and reliable information. Our team leverages its expertise and extensive research capabilities to identify and address the specific questions our audience has—and this ensures that our content is rooted in knowledge and accuracy. As of August 2019, Bench announced BenchTax in partnership with Taxfyle16 in order to provide tax preparation and filing for clients. And unlike other services, we never limit support based on business size.

SMB Guide’s Verdict for Bench Accounting

With real-time insights, you can make on-the-fly decisions about where to spend and where to save, helping your business stay on budget. We simplify catching up on overdue books and taxes with dedicated support, helping you avoid IRS penalties and regain financial confidence. We’ll work with you to connect accounts and pull the data we need to reconcile your books. QuickBooks, Xero and other do-it-yourself bookkeeping software give you a tool to do your own bookkeeping and taxes.

Simple, straightforward pricing for everything your business needs.

Fincent is highly similar to Bench, in that you can access a team of live bookkeepers – not an AI tool. The difference is that their plans also include invoicing, payments, and expense tracking. When he couldn’t reach me upon the first call, he called back a couple of times until I answered, and he was helpful once I connected with him on the call. If you’re just testing something to see if it will work for you, connecting all your bank accounts is quite a hassle, only to discover later it’s not what you expected it to be. Bench income statement offers basic financial reporting with an income statement and a balance sheet.

Bench Accounting Review: Pricing, Features, Alternatives

• Each month, we may check in with you to ensure your books are accurate and your deductions are maximized.
• Bench integrates with Stripe accounts, Square accounts, and Shopify accounts.
• The statement acknowledges that the closure is “abrupt and may cause disruption” and says the firm is committed to helping customers “navigate through the transition.”
• Other companies offering similar services adjust pricing upward as your business grows, making managing it more expensive.

The ability to add transactions from both personal and business accounts is also a bonus. For bookkeeping novices who want a hands-off approach, Bench is an ideal solution. When you sign up, you’ll be matched with a dedicated bookkeeper who is backed by a team of in-house accountants. Your bookkeeper will categorize transactions, reconcile accounts, and prepare reports on your behalf. You’ll also be granted access to an online application that allows you to view the status of your financial data and Partnership Accounting communicate with your bookkeeper.