Once you securely connect your financial accounts to the Bench platform, we’ll pair you with a dedicated bookkeeper. Once you securely connect your financial accounts, we’ll introduce you to a dedicated bookkeeper. They’ll get to know your business, and show you how Bench works. With online bookkeeping and real human support, it’s the expert financial solution your business deserves. Your Bench bookkeeping team can work one-on-one with your accountant to make sure they have all the information they need to file your taxes at the end of the year.

• In our Bench.co review you will learn more about Bench.co features, pros, cons, and factors to consider when choosing your accounting software.
• Bench is a bookkeeping and accounting service that connects small business owners with financial experts.
• There are several actions that could trigger this block including submitting a certain word or phrase, a SQL command or malformed data.

A dedicated bookkeeperWe’ll connect you with one of our expert bookkeepers located in North America. Whether it’s a tax season review call or a monthly check-in, we’re always happy to talk shop. As the accounting industry progresses through advancements in technology, the services that are available to business owners are becoming https://personal-accounting.org/accounting-articles/ more automated, real-time/online, and affordable. Platforms such as Quickbooks and Xero have emerged to become powerful tools for financial professionals to handle accounting extremely efficiently. Others like Bench, have gone further in an attempt to revolutionize the way traditional bookkeeping and taxes are done.

Very responsive team, and nice online dashboards

Some individuals prefer working with local CPAs where face-to-face interaction is possible. This way, business owners can establish a very close relationship with their CPAs. They may even be involved in the company’s operations, such as inventory tracking. Each state has its own set of rules for S-Corporations, affecting everything from tax rates to compliance requirements. Some states do not recognize the S-Corp election and treat the business as a C-Corp for state tax purposes.

• Similar to running a business, there is no universally sound option.
• According to Bench.co’s website, this quality control, if you will, is performed by a member of Bench’s in-house team.
• Accounting software can also prepare financial reports automatically.

Although it costs extra, Bench can go back in time and track previous months or even years of income and expenses for you. This is most useful if you’re joining Bench late in the fiscal year and want to get everything documented for tax time. If you want Bench to also file your taxes, that costs extra and the price varies depending on many factors. It’s convenient, but you can easily have a CPA file your taxes based off the Bench.co year end reports. A huge part of saving money for business owners is ensuring that you’re paying your taxes correctly.

Legal and compliance responsibilities as a S corporation

Working with a CPA for bookkeeping and more may allow more room for customization. The CPA can create different charts of accounts as needed, as well as custom reports in platforms such as QBO and Xero. The frequency of the bookkeeping can also be customized depending on the business needs (monthly, quarterly, or annual).

Specialized bookkeeping

Get bookkeeping, tax prep, advisory, and filing with Bench’s powerful, easy-to-use platform. S-Corporations have ongoing legal and compliance responsibilities. Failing to adhere to these obligations can result in the loss of the S-Corporation status and potential legal and financial repercussions. Bench.co has been great for me, and it will be for many of you, too. If you’re unhappy with your current bookkeeping solutions, I highly recommend giving them a test drive.

FAQs About Bench.co

Perfect books No need to second guess whether your bookkeeping is done correctly. See your business’s financial health at a glance, and stay in control of cash flow. Once you sign up with Bench, you get a team of bookkeepers who handle your month-to-month bookkeeping tasks. At the end of the year, they prepare a Year End Financial Package for you.

I started The Digital Merchant to test the tools, services, and products I use in my digital business. Now, I’m here with other online business owners buying, testing, and evaluating the best digital tools, services, and software we can find – for every stage of the business. Bench costs anywhere from $139 to- $299 per month when billed annually.

Online apps tremendously improve visibility and increase ease of access. You can check Bench so long as you have an internet connection. Whenever you wish, you’ll be able to check-in with Bench to ensure things are progressing well. It usually only takes them a day or two to get back to you. Be sure to contact them with your query earlier on in the week, otherwise, you could be left waiting a couple of days extra for a reply. Massive names such as Stripe, Shopify, and Bigcommerce all avail of Bench.co’s services.