Shlomi’s goal is to share the best knowledge and news about information systems so you can make smarter buying decisions for your business. When compared to alternatives like QuickBooks Online or Xero, Bench stands out for its human-assisted approach. While it may be more expensive than some software-only solutions, many users find the added expertise and time savings justify the cost. You can send a message to your Bench team from your computer or the app at any time, and your bookkeeper will reply within one business day. You can also schedule a time for your bookkeeper to call you at no additional charge.

Simplify your small business bookkeeping with Bench.

For instance, H&R Block’s DIY pricing is around $85, plus $44.99 for a state return, for most individuals and small businesses. In comparison, TurboTax pricing ranges from $89-$169, plus $39 for a state return. Bench costs anywhere from $139 to- $299 per month when billed annually. 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 bookkeeping filing you’ll be paying $600-$1,320 extra. 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.

Overwhelmed by back taxes and outdated bookkeeping

Xendoo’s base plan offers the cash basis of accounting, but customers that opt for premium bench accounting pricing packages can choose between cash and modified accrual. When you sign up with Bench, you get monthly financial statements and expense overviews to help you stay on top of your small business finances. Check out our visual reports to get insights on your business and make smart decisions.

Expense Trackers: The Top 6 Tools For Small Businesses

Massive names such as Stripe, Shopify, and Bigcommerce all avail of Bench.co’s services. 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. You’ve concocted every excuse under the sun, but you can’t escape reality – it’s time to do your books. After 9 years as a customer, Bench went out of business overnight with no warning. Most clients are left high and dry with books unfinished for months they paid for already. Here are 11 alternatives to explore, each with a different emphasis in supporting your small business finances.

• However, the option is there to get Bench to do it for you through the aptly named BenchTax.
• This approach allows us to record transactions as soon as funds are deposited into your bank or charged to your bank or credit card.
• Occasionally, we may need additional documents, such as account statements or receipts, to ensure the information we have is accurate.
• Once we’ve wrapped up your bookkeeping, we’ll walk through your year end financial packages together and send you everything you need to file.

Bench claims to offer “expert” bookkeepers who’ll provide you with one-to-one support and essentially manage your business’s numbers for you. This one-to-one support (customer service) is available via messaging and calling through Bench’s web-based app as well as by calling by phone. Note, if you want to call by phone, then you’re obliged to book in advance. Connecting your accounts to Bench automates repetitive tasks like data entry, saving you time and effort.

Bench.co’s Web-based Software

First founded in 2012, Bench helps small businesses automate and organize their finances. Unlike some of the current accounting options, which are targeted towards the end user, Bench offers a more hands-on approach. Each month, a team of bookkeepers will organize your transactions and accounts, creating financial statements for you to review. Pilot and Bench also offer catch up bookkeeping, so you can get past months’ books in order, too. When it comes to choosing a bookkeeping solution, features are a crucial consideration. In this comparison between Bench and Xendoo, both companies offer a wide range of integrations, making it easy to manage everything in one place.

Once I installed the app, I could log in to my Bench account, load my financial data, and replace the demo data. From there, I could quickly integrate my bank accounts and download the Bench app from the Stripe App Marketplace to make integrating my account Insurance Accounting a cinch. Once I took the call, the onboarding specialist was incredibly helpful, taking the time to learn about my business and what I expected to get from the service.