In January 2025, Bench Accounting, a popular online bookkeeping service, announced its closure, leaving thousands of small business owners without critical financial support. As the company winds down operations, current and former customers are left with a host of unanswered questions and a disrupted accounting process. Ultimately, the decision to use Bench Accounting should be based on your specific business needs, budget, and preference for human-assisted vs. purely software-based solutions.
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- You will be asked to log in to your Gusto payroll account and authorize Bench to collect the data.
- These professionals can help identify missing information, reconcile accounts, and get your financials back on track.
- Whether you seek to streamline your financial processes or gain deeper insights into your business’s financial health, Bench likely has a package that suits your requirements.
- Pricing varies based on whether you bill month-to-month or commit to an annual contract.
- I also got a message in my Messages panel in my account to let me know that someone would contact me within the next business day to answer any questions and assist with setup.
- However, some businesses may prefer more versatile software like QuickBooks, which offers comprehensive accounting features beyond just bookkeeping.
With its combination of dedicated bookkeepers and user-friendly software, Bench offers a compelling option for many small business owners seeking to simplify their financial management. All plans include monthly bookkeeping, year-end financial package, and unlimited support. The Premium plan, which includes tax filing services, is available at an additional cost. Prices start at $399 per month and vary depending on your total monthly expenses and whether you need cash basis or accrual basis accounting. You can also add services like payroll, invoicing, bill pay and inventory management for an extra fee. Bench has a proprietary bookkeeping system that doesn’t sync with other accounting software.
Back taxes piling up? Let bench help get your Bookkeeping caught up.
The various pricing packages offer flexibility, making it accessible to a wide range of businesses. The Bench Accounting login provides access to a clean and intuitive dashboard where users can view their financial data and reports. The interface is designed for ease of use, ensuring that even those with little accounting experience can navigate it effectively. Detailed charts, graphs, and summaries offer quick insights into your business’s financial health, aiding in better decision-making. Your Tax Coordinator supports you through the entire income tax filing process.
Bench Accounting — Unique Features
- When evaluating whether Bench is a good service, customer reviews and testimonials are essential metrics.
- Occasionally, we may need additional documents, such as account statements or receipts, to ensure the information we have is accurate.
- At this point, all the financial data for the month is captured and your team has completed the monthly bookkeeping.
- At the end of each fiscal year, Bench prepares a comprehensive financial package that includes all necessary documents for tax filing.
- I understand that you generally get what you pay for, but I don’t feel that you get 10x the value over self-managed bookkeeping using Quickbooks, Freshbooks, or Wave bookkeeping software.
This could make it difficult to switch bookkeeping services later. It does, however, allow you to download Excel files of historical data, which can be uploaded to other programs. But moving the information and verifying it was done correctly can take time.
Comparing Bench with other bookkeeping services in the market can provide further insight. Alternatives like QuickBooks Online and Xero offer different features and pricing options. Bench excels in offering personalized services via dedicated bookkeepers, a feature that many alternatives handle through automated systems.
- Our Bench Tax Advisors are licensed tax professionals that facilitate the preparation of your income tax return, review it with you and then get it filed with the IRS and your state.
- If you’re already using Quickbooks Online, but want the added advantage of a real bookkeeper to help you along the way, you may want to consider QuickBooks Live Bookkeeping.
- Bench also provides tax season support, helping to prepare your documents for filing and ensuring you maximize deductions and credits.
- For users on the Premium plan, Bench offers both business and personal tax filing services.
Once I installed the app, I could log in Accounting For Architects to my Bench account, load my financial data, and replace the demo data. Discover why Bench accounting is a top choice for small businesses in 2023. Try us for free—we’ll do one prior month of your bookkeeping and prepare a set of financial statements for you to keep.
Understanding the pricing structure is paramount for any business considering Bench. Bench offers several pricing tiers depending on your company’s monthly expenses. Packages begin at a reasonably accessible rate for small businesses and scale up for more extensive enterprises. Each package includes a dedicated bookkeeper, and the more expensive plans offer additional features such as one-on-one tax consultations and financial reporting. It’s essential to weigh these costs against the potential time and effort saved. In addition to basic bookkeeping tasks, Bench offers several special features and integrations.