Both Bench and Plaid are SOC-2 compliant with security practices that meet or exceed industry standards. Plaid keeps your data safe and private with best-in-class encryption protocols like the Advanced Encryption Standard (AES 256) and Transport Layer Security (TLS). Also, you can access the Bench app to chat with customer support representatives — although there is only an Apple iOS app available at this time.
Bench Accounting offers two monthly subscription plans, Essential for $299 and Premium for $499. If you sign up for an annual contract, the monthly price goes down to $249 bench accounting login 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 should be able to access a dedicated bookkeeper for any questions or advice and one-on-one assistance. Because each plan depends on many factors, we looked at the value provided in terms of the time and potential money that you’re saving by using the service. One of the platform’s biggest drawbacks is that it doesn’t offer a mobile app for Android. Other users said that they wished that it was possible to use the service for bill payment and invoicing. And unlike other services, we never limit support based on business size.
Prices start at $399 per month and vary depending on your total monthly expenses and whether you need cash basis or accrual basis accounting. You can also add services like payroll, invoicing, bill pay and inventory management for an extra fee. You will work with a Bench bookkeeping team to reconcile your business’s monthly expenses. Additionally, you can add on services that track your accounts receivable, accounts payable, and unearned revenue. If you need historical bookkeeping, you can sign up for Bench’s catch-up bookkeeping services. This step marks the beginning of the monthly accounting process.
Try us for free—we’ll do one prior month of your bookkeeping and prepare a set of financial statements for you to keep. We use Plaid, which lets you securely connect your financial accounts to Bench in seconds. This feature saves you the time and effort of manually uploading documents. If you’re several years behind on your bookkeeping and taxes, you can get caught up and filed with Bench Retro.
There are various reasons that your login credentials may be rejected when trying to connect your accounts with Plaid. Presented as a visual chart that is broken down by month, this report gives you a quick glimpse of your revenue, expenses, and net profit. The Fit Small Business editorial policy is rooted in the company’s mission, which is to deliver the best answers to people’s questions. This serves as the foundation for all content, demonstrating a clear dedication to providing valuable and reliable information.
