This is the more complex stuff that often gets missed when people do the books themselves. During this stage, we do most categorizations for you in the background. However, from time to time, we may  need your help to provide additional context on some specific transactions.

Ditch the tax filing stress

Crystal clear financial statements and reportsSee what your money is up to and get financial insights on your own timeline. Crystal clear financial statements and reportsSee what your money is up to in real-time. Your income statement, balance sheet, and visual reports provide the data you need to grow your business.Simple to use anytime and anywhereForget about spending hours learning new software. The Bench platform makes it super simple to view your financials, update information, or check in with your dedicated bookkeeper. 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.

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Here’s how you can tell what the status of your books is and how you can best use the financial information at each stage. The developer, Bench Accounting, Inc., has not provided details about its privacy practices Navigating Financial Growth: Leveraging Bookkeeping and Accounting Services for Startups and handling of data to Apple. For more information, see the developer’s privacy policy. Get a snapshot view of all your money-in and money-out, whenever you need it, even before your books are closed.

Is it safe & secure to connect my accounts with Plaid?

Each month, your bookkeeping team — made up of three in-house Bench employees — will categorize all your transactions, reconcile your bank accounts and prepare financial statements. This process is completed within 15 business days once you’ve sent all the necessary https://fintedex.com/navigating-financial-growth-leveraging-bookkeeping-and-accounting-services-for-startups/ documents. Plaid is a platform that lets you securely connect your financial accounts to Bench in a matter of seconds. By connecting your accounts with Plaid, Bench will be able to automate the inflow of your financial data and get your books ready faster.

• You won’t need any other software to work with Bench—we do everything within the platform.
• If you’re switching from QuickBooks, we’ll work from your closing balances to do your bookkeeping going forward.
• You can also schedule a time for your bookkeeper to call you at no additional charge.
• No matter how far behind you are (yes, even years behind), we can get you caught up quickly.

It includes both the monthly discount outlined above, as well as an additional 10% discount for selecting a yearly plan. This status indicates that your books are considered ready to use for day-to-day business decisions. Small adjustments may still be made later by your bookkeeper, before the books are fully complete.

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. All the financial data for the month is captured and your team has completed the monthly bookkeeping.

Need to file Form 1099?

Easy-to-Use Accounting & Bookkeeping Features