Online Bookkeeping Services for Small Businesses Bench Accounting

Online Bookkeeping Services for Small Businesses Bench Accounting

Bench gives you a professional bookkeeper at a price you can afford, and powerful financial reporting software with zero learning curve. B2B & SaaS market analyst and senior writer for FinancesOnline. He is most interested in project management solutions, believing all businesses are a work in progress. From pitch deck to exit strategy, he is no stranger to project business hiccups and essentials. He has been involved in a few internet startups including a digital route planner for a triple A affiliate.

Kyriba primarily serves sectors such as retail, financial services, higher education, healthcare, and manufacturing. Using Bench is different from having a subscription to accounting software like QuickBooks Online or Xero. These products can streamline tasks like reconciling accounts and categorizing transactions, but they don’t take bookkeeping off your plate completely like Bench does. Unlike accounting software, however, Bench doesn’t offer tools for invoicing, inventory management or bill payment. Every plan comes with unlimited support from a dedicated bookkeeping team and intuitive software to track your financials. Whether you’d like a tax season review call or a monthly check-in, they can assist you.

  1. If Bench’s lack of accounting integrations is a concern, instead consider QuickBooks Online with QuickBooks Live full-service bookkeeping added on.
  2. Get intuitive software that syncs directly with your small business accounts to deliver tidy, perfect books each month.
  3. At that point, you can view your financial statements and account information online.

A scalable cloud ERP solution for growing medium-sized businesses and large enterprises. It offers complete control and automation options in managing financials, billing, orders, inventory, fixed assets, and revenue. It also has different modules to help you embed your accounting with other key business processes. Your bookkeeper reconciles your accounts, categorizes your transactions, and produces your financial statements. They also make adjustments to your books to ensure they’re 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.

Accrual-basis bookkeeping gives business owners a more realistic picture of income and expenses. That’s part of why it’s the method favored by investors and venture capitalists. Bench and Pilot are bookkeeping services that manage and organize your company’s financial books so you don’t have to. You might have noticed that we’re writing about the difference between our service and someone else’s. We’ve done our best to give them a fair shake because we want you to make an informed decision.

Bench Accounting Financing

Part of what makes Bench unique is that we blend together the human touch with modern technology. 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.

Bench Accounting’s revenue is $12.6 million.

If you need to get in touch with your bookkeeper or tax professional, you can either schedule a phone call or send a message via the app. Usually, you will be able to call within a day, and in-app messages sent during hours of operation usually receive a response within a matter of minutes. Specifically, you will be assigned a team of three dedicated bookkeepers, one of whom will be your account manager. The Bench platform gives you monthly financial statements and expense overviews to keep you in control of your money. At-a-glance visual reports help you see the big picture and give you actionable insights to help you grow your business. Bench has a proprietary bookkeeping system that doesn’t sync with other accounting software.

What are alternatives to Bench Accounting?

If you are behind on your bookkeeping, you can use Bench’s Catch Up and Retro bookkeeping services with fees starting at $299 per month. There are some accounts that can’t be automated, but we understand this. That aside, we would like to see Bench expand and offer more all-in-one service beyond book-keeping and tax returns or make any partners more accessible . Kyriba is a company that focuses on enterprise liquidity management in the financial services sector.

QuickBooks Live Bookkeeping

There’s no extra fee or hourly charges for support, and you’re welcome to reach out to them whenever you have a question. I spent more time dealing with Bench all year long than when I was doing my own bookkeeping on a simple spreadsheet. They promised it would get easier “as we learn about your business and transactions,” but I found month after month that the same transactions got flagged needing my input. An accrual-based bookkeeping method would record that invoice as soon as the invoice is sent.

Also, they never make assumptions about your business, preferring instead to reach out with any questions. I tested Bench out at the end of 2019 and then hired them for my entire 2020 books. My account got passed to another team, and they didn’t even touch my books for months. This website is using a security service to protect itself from online attacks. The action you just performed triggered the security solution.

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. If Bench’s lack of accounting integrations is a concern, instead consider QuickBooks Online with QuickBooks Live full-service bookkeeping added on. In general, the QuickBooks platform is more scalable and widely used among accountants, so it could be a better solution for a rapidly growing business.

Some competitors’ prices increase as your average monthly expenses rise, and others require a subscription to specific accounting software, which adds additional expenses. Wingspan erases all the worst parts of freelancing– taxes, benefits, accounting, invoice & expense tracking, registering an LLC, even your tax withholdings. The ease and beauty of a payroll platform, but bench accounting competitors optimized for freelancers and independent professionals. Now that you have all the pertinent info, are you still wondering which bookkeeping service is right for you? Bookkeeping can be complicated — especially for business owners who’d rather be focused on building their businesses. At Pilot, we work to ensure that your bookkeeping service is as accurate as possible.

Bench Accounting Revenue and Competitors

The data presented on this page does not represent the view of Bench Accounting and its employees or that of Zippia. BenchTax connects you to a licensed Taxfyle expert, trained by Bench. It’s tax filing, every deduction you deserve, and your smoothest tax season yet—done for you, in one place. Powerful yet intuitive financial reports come standard with Bench. Track every business transaction and performance metric like a pro, and run a smarter business right away.

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