Today, let’s take a look at how EcomBalance measures up to Bench bookkeeping. Every provider offering these types of services is different. You may need Bench accounting services, or EcomBalance bookkeeping may be perfect for your needs. The key is looking into the details and choosing what will be the most help to your business.
What core services does EcomBalance offer?
Are you a small to medium-sized business? Does your business operate on online marketplaces and need bookkeeping for Amazon, Shopify, Etsy, Walmart, or other eCommerce platforms?
Does a monthly bookkeeping service specifically created by business owners who understand the dynamic changes that happen in an online marketplace sound like something you’d be interested in? Well, it’s a good thing EcomBalance offers exactly that!
Let’s break down the benefits of choosing EcomBalance for your monthly bookkeeping needs:
We Value Partnership and Strong Communication
When you hire from us, you can think of it as adding a partner to your business. You can rest assured knowing that we will be with you every step of the way from the moment you sign up and make sure the process is as smooth as possible even if you decide to sign off from our services.
Got any questions or concerns? No worries. Your team is ready and willing, and quick to give you the financial answers you are looking for. You can contact them through email and they will respond within 1 business day or less. You can even request for a texting number or schedule a call session.
We Have a Team of Expert Bookkeepers
You are in very capable hands. Our accounting and bookkeeping team has experience working with eCommerce businesses on a variety of different platforms. You get a dedicated Head of Bookkeeping and a Bookkeeping Assistant ready to manage your financials excellently.
We provide accurate bookkeeping. Your books are vetted more than once by 2 levels of bookkeepers, ensuring that the information is exact. We deliver essential, accurate, and financial reports on time. These reports include a Profit and Loss Statement, Balance Sheet, and Cash Flow Statement. All of these are deliverable by the 15th of each month.
We deliver reports that are clear. We’re not here to confuse you with financial jargon. As a business owner, it’s important that you understand your financial situation to enable better business decisions. This is why we want to make your life easier and include key financial insights gleaned from the month.
We Offer Financial Guidance
If you like, we can offer you business-specific financial advice to support your business growth goals. Planning finances is always a vital part of business strategy, and we would love to sit down with you and work out what will be best for your business.
Getting started with EcomBalance:
After signing up, hop on a scheduled call with us so we can get to know you and your business better. After familiarizing ourselves with your business and taking a look at your past books we will send you a custom price quote. We will then work with you to make sure all accounts and channels are properly connected.
We’ll take care of your books and you can take care of your business. You will receive updates on any financial blips we may come across. You will also receive your reports on the 15th of each month promptly.
What core services does Bench offer?
Bookkeeping
The Bench bookkeeping team of small business experts will take care of your monthly record keeping needs. They pair bookkeeping software with real workers to give you the best integrated experience.
How does the Bench bookkeeping process work?
1. Meet your dedicated expert bookkeeper
They will familiarize themselves with your business and get you in-the-know about Bench services. Onboarding is an easy process.
2. Get your books started.
After your Bench bookkeeper gets all the information needed, they can start organizing and managing your financials.
3. Receive monthly financial statements.
With monthly reporting you can examine how well your business is performing, gain a better awareness of spending habits, and move forward towards better decision-making based on the data.
4. Receive regular updates and readily available support.
Not only do they assign an expert to help you throughout the process, they also have a team that can assist you with any questions you may have at any time of the year. Need a quick update or year-end review? No problem, you can schedule a call with your bookkeeping team.
Catch Up Bookkeeping
Business owners are busy people, so it’s completely understandable to fall behind on your books. It happens, and Bench bookkeeping services can help you get up to date and back on track.
You don’t have to worry about how far back you’ve fallen behind or how many documents you may have misplaced. Their team has dealt with months and even years of overdue records. The Bench bookkeeping experts can organize your books quickly and get them ready for those stressful tax season deadlines.They also send a financial package for each year of catch up and supporting papers you may need to get caught up fast and take back control of your finances. Bench Retro is their solution if you’re also behind on your taxes on top of your books.
Does EcomBalance or Bench offer end of year tax services?
EcomBalance
Aside from an add-on sales tax service which you can request on your initial call, EcomBalance does not offer any additional tax preparation or end of year tax filing services.
However, if you are interested, we can connect you with a trusted, dependable, screened CPA from our network. Otherwise, we will still make sure to communicate effectively with whatever accountant you choose and provide them with whatever assistance they need. Because we prepare your books to be tax-ready, we can hand them off with no extra hassle to you or your accountant. We value your time and want to make things as smooth as possible.
Bench
Bench accounting services deliver tax-ready documents all set for filing. This is available to you, whether as part of their bookkeeping services or as a stand-alone service for tax purposes only. Never miss a deadline with Bench’s team of tax experts ready to get you organized, prepped, and filed on time for tax season.
If you subscribe to their Premium plan you get access to not only the bookkeeping but also the tax services part of the Bench accounting suite. With the combined power of the two, you can be sure to get the most out of your tax returns.
Additionally, they also offer a Year End Financial Package that includes an overview, notes, an Income Statement, Balance Sheet, Trial Balance, Journal Entry Summary, and General Ledger. You can view this from the dashboard or you can download it as an Excel spreadsheet.
What software does EcomBalance and Bench use?
EcomBalance uses Quickbooks Online, Xero, and A2X. We default to QBO, however, if the client has a preference, we are happy to adjust.
Bench uses their own software, meaning you don’t need third-party software. Reports are downloadable to Excel and then easily shareable with whomever. Bench does partner with companies such as Gusto, Square, and Stripe as well, if that’s what you want to use.
How much does it cost to work with EcomBalance and Bench?
EcomBalance
All clients receive a custom Pricing Quote from EcomBalance. It’s easy to submit a quick 5 minute form and receive a custom pricing quote within 1 business day.
Simply sign up, enter your information, send View Only access to your Quickbooks Online or Xero account and they’ll get you a price quickly.
All EcomBalance Prices include 2 things:
- Catch Up and Clean Up Work: If you need any of your months caught up or cleaned up, they’ll include a one time price for that.
- Monthly Bookkeeping: You’ll then also get a monthly price for having EcomBalance handle your monthly bookkeeping.
Their pricing depends on a number of factors:
- Transaction volume
- Number of accounts (banks, marketplaces, processors)
- Size of the business in yearly revenue
- Complexity of the books
- Any add on services
Sign up to get a more specific pricing quote.
Bench
2 plans:
1. Essential
Bookkeeping
Annual billing cost: $249/mo
Monthly billing cost: $299
Includes:
- Monthly bookkeeping
- Dedicated team
- Year-end tax-ready documents
- Communicate with their in-house research team
2. Premium
Bookkeeping and taxes
Annual billing cost: $399/mo
Monthly billing cost: $499
Includes:
- Essential plan offerings
- Unlimited income tax support
- Annual income tax filing for businesses (partnerships, S corps, C corps)
- Annual income tax filing for individuals (sole proprietors, contractors)
Who is EcomBalance best for?
The founders of EcomBalance, Nathan Hirsch and Connor Gillivan, built this platform after recognizing the need for simple bookkeeping aimed at eCommerce businesses. Being multi-million dollar online sellers in their own right, they know the space well-enough to recognize the need for specialized, reliable, eCommerce bookkeeping.
Who is Bench built for?
Bench accounting caters to the tax and bookkeeping needs of small businesses. Through their financial assistance, the main goal of Bench bookkeeping is to allow entrepreneurs to do what they love and help bring their business to where they want it to be.
What are the reviews online for EcomBalance and Bench?
EcomBalance Reviews
4.6 / 5 stars
Bench Reviews
4.4 / 5 stars
Conclusion
Both EcomBalance and Bench bookkeeping services have their special target audiences and expertise. Both companies cater to small businesses, but you need to choose which service is going to fit your specific niche best. Consider working styles as well. You may have to dig a little deeper with each service to learn about this, but we recommend doing your own research anyway. That’s the best way to really know what the best choice is.
