Should You Outsource your Bookkeeping?
One of the challenges to accounting in small businesses and start-ups is time. It is important that all transactions be entered in their respective journals in a timely manner. It is very easy to get behind on data entry and to lose or misplace documents that are necessary to complete your reports. The owner of a small business has many priorities tugging at them daily and it is often easy to let something like accounting take backseat to other urgent issues.
For many businesses, their banks and investors require regular financials to be provided in standard formats. These are sometimes difficult to prepare in an accurate and timely manner.
Bench partners with entrepreneurs all over the country. Bench provides you a team of bookkeepers to do your books, and intuitive software to monitor your financials. It’s everything you need to stay on top of your finances.
At the beginning of each month – Bench will gather the financial documents needed to do your bookkeeping and produce accurate financial statements. Connect your accounts to Bench, and you won’t even have to think about getting us your bank or credit card statements. The software syncs directly with all major banks to automatically pull your statements into Bench.
During each month – Once Bench has all the documents needed, Bench will finalize and complete your books within 15 business days. Each month, your Bench team reconciles your accounts, categorizes your transactions, and produces your financial statements. They will also make any necessary adjustments to your books to ensure that they are tax-compliant.
At the end of each month – Once your books are complete, you’ll get a message from your bookkeeping team letting you know that your books are ready for review. For the first two months, Bench will review your books with you over the phone. These review calls are a great opportunity for you to ask any questions you have about your financial statements. After this point, Bench will follow your lead and let you decide how often you’d like to connect with Bench on the phone.