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Bench Bookkeeping Review

So, say, I want to see how much we’re spending on just Facebook ads. What I can do is search for “facebook” , but it won’t automatically give me a sum of all of those expenses. I CAN see a summary of expenses by category, but by “line item” (like “Facebook” or “AWS”) would be even more helpful.

Bench Accounting has two pricing plans for anyone looking to bring on a company with bookkeeping capabilities. They made these price points so clients can choose whether or not to include tax filing and to make things more transparent for everyone.

Business Line of Credit: Compare the Best Options

The messaging system was prompt and efficient for keeping in touch with our book keepers and account manager with any pressing questions. They were always very professional and did high quality work. Any questions or concerns with categorization and interpreting information were answered well.

Best Accounting Software for Medium-Sized Businesses – NerdWallet

Best Accounting Software for Medium-Sized Businesses.

Posted: Mon, 11 May 2020 07:00:00 GMT [source]

People seem to feel that is an extremely responsive and friendly bunch. The fact you’ve got your own bookkeeper to communicate with helps you form a professional yet friendly bond with Bench.

Incompetent, amateurish, bloated tech service

Plus, you can communicate with them through the Bench app, so they’re always there if you need advice or have questions. The worst of all is that, while you do it, you spend hours that you could rather spend doing what you do best, that is, running your business and making more money.

It’s simple, with this information in hand, you’ll be able to plan better and make better business decisions. So, you have to include any payroll or cost of goods sold in your estimate. If you’ve paid yourself a draw out of the business, you don’t need to include this in your expenses, though. vs CapForge: Comparison & Review

What used to required a few hours every week for me now has become an hour or two a month. 4) Transaction Bench Bookkeeping Review Verification Made Easy — I especially love how they’ve simplified this process to almost a game.

If you decide to leave Bench, you can export the reports, but you can’t maintain any continuity. This means if you grow, and want to bring your accounting in house, you lose everything that got you there.

Alternatives to Bench Accounting

By connecting your accounts and answering a few questions each month, your team will update and keep your records accurate. After adding your accounts and answering any questions from your team, Bench will typically have your bookkeeping completed for the month within 15 business days. Although Bench offers some tax support, they won’t actually file your taxes for you unless you pay an additional cost for the Bench Tax or find your own accountant. In the long-term, this is actually a healthy separation but is important to keep in mind as you budget for your bookkeeping. In addition, if you want to add the Bench Tax feature to your plan, you’ll have to pay $99 per month if you pay annually. With this package, you’ll get tax advisory, unlimited state filings, federal income tax filings, quarterly estimates, and year-round tax support from a licensed tax professional.

Bench Bookkeeping Review

In addition to the monthly reports, Bench provides a comprehensive annual report for use when filing income taxes (For U.S and Canadian tax agencies). The report outlines the usual data plus a general ledger, trial balance, and journal entry summary. Don’t get us wrong; is a good solution for lots of small businesses who just need someone to take on their bookkeeping. It’s certainly better than not doing it at all and if you only need cash basis books and don’t ever expect to need apps or grow big enough to possibly bring it in-house, then this might be fine. At CapForge, although we have come up with some general price guidelines, we still quote every project separately.