Using this method can be less accurate than accrual accounting, which includes accounts payable and receivable as well. 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. You can try Bench Accounting for free to see if it’s a good fit. Connecting your bank accounts to Bench ensures your bookkeeping team has access to all the financial records they need to get your books ready on time and accurately.

No matter how far behind you are (yes, even years behind), we can get you caught up quickly. Here’s everything you need to produce a reliable financial forecast for your business. This is an expensive time to be running a small business, but there are ways to protect yourself from the effects of inflation.

Connecting Accounts FAQ

For an additional fee, Bench’s bookkeepers can provide overdue bookkeeping services, depending on how far you’ve fallen behind on your books. If you’re less than two years behind on your bookkeeping, you’ll need the catch-up bookkeeping add-on. Your bookkeeper will update your books accordingly on your behalf. If you’re behind on your books for more than two years, Bench offers bench accounting login a special program called Bench Retro. Bench Accounting is best for freelancers and small businesses with basic bookkeeping needs, such as providing cash-basis financial statements for tax return preparation. It’s an ideal solution if you have limited time or want to outsource your books to a certified bookkeeper so that you can focus on the other aspects of your business.

If you sign up for an annual contract, the monthly price goes down to $249 for Essential and $399 for Premium. While both offer basic bookkeeping and year-end reporting, Premium has unlimited tax advisory services and federal and state tax filing. You will work with a Bench bookkeeping team to reconcile your business’s monthly expenses.

My Account

Bench.co doesn’t go backwards with your books unless you pay extra, so it’s ideal to start using Bench at the start of your tax year. Bench provides you with a personal bookkeeper who manages every aspect of your bookkeeping. Before I found Bench.co, I had been audited multiple times and each one was more painful than the last. A few thousand dollars here and $35,000 there…I can tell you from experience, there are few things as upsetting in business as this.

• Easy access, your way – No more hopping between apps to track your finances.
• With Premium, you get expert tax prep, filing, and year-round tax advisory support.
• America’s largest professional bookkeeping service for small businesses.
• To learn more, check out Nav’s accounting software resources.
• At-a-glance visual reports help you see the big picture and give you actionable insights to help you grow your business.
• One of the platform’s biggest drawbacks is that it doesn’t offer a mobile app for Android.

FreshBooks is accounting software that makes running your small business easy, fast and secure. Spend less time on accounting and more time doing the work you love. 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. Bookkeepers are available Monday through Friday during “normal business hours PST,” according to Bench’s website. Plaid supports over 12,000 financial institutions around the world, but from time to time we discover some that are not yet supported.

Difficult to switch providers

It’s convenient, but you can easily have a CPA file your taxes based off the Bench.co year end reports. FreshBooks automates lots of your accounting so you can spend more time focusing on your work and your clients. You can have invoices automatically generate and send, expenses automatically tracked and even have your payments automatically recorded, all without you lifting a finger. Promotional offers for both monthly and yearly plans are for a limited period. No free trial period is included when availing of this promotional discount.

• This process ensures that articles are well-researched and organized, offering in-depth insights and recommendations.
• But if yours is more complicated, you might look into other accounting software options besides Bench accounting.
• Absolutely – we take the safety and security of your financial data very seriously.
• If you’re less than two years behind on your bookkeeping, you’ll need the catch-up bookkeeping add-on.
• We do your bookkeeping – Each month, your bookkeeper organizes your business transactions and prepares financial statements.
• You can access your income statement, balance sheet, and other reports that are fully customizable.

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.