Bench Provides Online Bookkeeping for Small Businesses

April 20, 2015

8:00 am

Bookkeeping is one of the necessary evils of running a business.  Receipts, invoices, revenue tracking, the list goes on. Of course, there are many companies that offer bookkeeping and accounting services for small businesses, but they can be expensive, plus their attention is usually split between multiple clients at a time. Another option is to hire a bookkeeper, but maybe you’re business is not large enough to have one on staff, yet the amount of work is still a bit too overwhelming to handle on your own. And let’s not forget the fact that bookkeeping is boring. I know I’m not alone in this opinion. So what’s a business owner to do?

Bench was created to tend to the bookkeeping needs of small businesses.  When you sign up for their services, they hook you up with your own personal online bookkeeper who will give you a free income statement so that you can determine whether Bench is a good fit for your business before making any serious commitment. And if you’re a .CO member, Bench is offering 20% off your first 6 months plus a $300 donation to the One Laptop Per Child Organization. Sweet perks of membership!

Bench was founded in 2012 as 10sheet Inc. by Ian Crosby, Jordan Menashy, Adam Saint, and Pavel Rodionov. They were accepted into the summer 2012 class of Techstars, NYC and relocated from New York to Vancouver, BC in the summer of 2013. They recently raised a $7M Series A round led by Altos Ventures.

The company describes themselves as follows:

“We’re a laid back group of people working hard on a tough problem. Bookkeeping is a universal point of pain for entrepreneurs, and we’re changing that.”

They provide bank level security for their clients’ financial information, as well as the following features:

  • Paper free bookkeeping – You can photograph, email, and scan your receipts and other documents so that they can be immediately shredded.
  • In-App reports – Get as much detail as you want by viewing source documents like bank statements and receipts.
  • Tax time support – Your bookkeeper will work with you and your CPA to ensure your statements are ready to file by the deadline.
  • Interactive Financial Statements – Keep track of your financial performance with an interactive monthly income statement and balance sheet prepared for you by your bookkeeper.

Bench is working towards making bookkeeping as hassle free as possible, as well as making the field of bookkeeping and accounting less stuffy, and more casual and personable, while still providing professional and secure services for their clients. If you own a business, you may be relieved that tax season is over, but it’s never too early to get a head start on next year.

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Kristin is an aspiring entrepreneur who is enthusiastically navigating her way through the DC startup space. She has an unending passion for learning and is never satisfied with the status quo. During the day she is an ops, biz dev, and marketing maven for Fission Strategy

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