Bench Accounting is a service designed specifically for small businesses. This Vancouver-based company was founded in 2012 and has an in-house team of bookkeepers working to ensure your business stays at the top of its game. After signing up with Bench, one member of the team gets assigned to you and, from that point onwards, works one-on-one with your business. This accountant will learn about your company and will guide you through all the tools at your disposal. Before you start, there’s an option for a free one-month trial, which we highly suggest.
Depending on the size and income of your company, Bench offers several pricing plans for its online bookkeeping services. You’re looking at a minimum of $159/month if you choose to pay annually, or $189 if you decide to pay on a month-by-month basis. The most you’ll have to pay is $419/month, which is still a fair price. The company also does annual reviews with a possibility to update your pricing in case your business doesn’t need an expensive plan anymore. Each plan includes bookkeeping for up to 15 accounts, and there’s also a handy tool that helps you pick the perfect package for you depending on your monthly expenses. It’s important to note that all of Bench’s plans offer exactly the same features; the only difference between price points is the value of monthly transactions the company will process.
If you need additional online accounting services, like payroll or preparing taxes, each of these add-ons will cost you an additional $35. Finally, there’s the BenchPro service for extended bookkeeping. This, like the basic plan, has a flexible pricing model and starts at $83/month. BenchPro is reserved for international companies that deal with multiple currencies and locations.
So, what do you get for your money? First of all, a real-time system that reports all of your transactions, a monthly review of your books, as well as annual reporting. Bench has its own standalone app - which is also available on mobile - so you won’t need to worry about other accounting programs. If you’ve previously used QuickBooks online bookkeeping services to manage your finances, Bench’s staff can help you make the transition.
Bench offers both cash- and accrual-based bookkeeping, connects to all banks in North America, and comes with all the tools to keep your books tidy: balance sheets, visual reports, expense management, even catch-up bookkeeping and preparation for tax season. It’s not a completely all-in-one accounting solution, as it lacks an invoice system and bill-payment option. As such, Bench’s payroll and tax-filing services go through third parties. Bench integrates with several payment processors, including Amazon, Strike, Shopify, and Square.
Ease of use
Bench’s app is one of the best-looking online bookkeeping apps around. It’s so straightforward that you probably won’t need any kind of tutorial to start working with it. The layout isn’t crowded and is highly customizable, so you can either dive deep into your books or just grab all the important stats at a quick glance. The mobile app is just as well-designed and functional as the desktop equivalent.
As we’ve already mentioned, Bench goes above and beyond simple bookkeeping, providing you with a real person you can talk to and ask for advice about your business. That makes this one of the best online bookkeeping services for small business, as it provides a personalized experience with options to arrange one-on-one calls and chat with the agent. Everything goes through the app, too, so there’s no need to set up Skype. The typical response time is one business day. While you’re waiting for a reply, Bench’s handy FAQ and knowledge base are great resources for problem-solving.
Reasons to Sign Up:
- All-in-one package
- Invoicing and tax filing