What to do now that Bench.co closed & reopened under Employer.com
We were surprised to learn that Bench.co closed its doors, and then reopened after it’s purchase by Employer.com. While we have many feelings about the way they conducted their bookkeeping business, we’ll refrain and focus on trying to help you out. I’m sure this is a stressful time, but hopefully we can help calm those nerves and point you in the right direction for your bookkeeping needs.
Obviously we think we’re the best, but we understand there are many options and many things to consider. To start, here is a basic rundown of our service:
Our service is a basic, affordable, recurring bookkeeping service, where we keep your books updated each month by categorizing all the transactions from your newest bank statements. We then email you reports that show exactly how profitable your business is. We aren’t really doing anything beyond that, such as filing any taxes, paying your bills, entering receivables, or doing your payroll. We will still, of course, record all of these transactions as they appear on your bank statements.
Why Merritt Bookkeeping is the best service to transition to
Merritt Bookkeeping has never received Venture Capital funds, and we are completely self funded. This means we are profitable and not at risk of insolvency. We have had full autonomy over our business decisions and it’s reflected in our 100+ 5 Star reviews online.
Merritt Bookkeeping uses QuickBooks, the industry-standard accounting software. This means that you can easily take your financial data with you if you ever decide to leave our service! Unlike Bench.co, which used a proprietary accounting software that cannot be imported into QuickBooks.
Merritt Bookkeeping service costs an ongoing $250/mth per company. For catch up work, we reduce our price to $200/mth for each month we work on. If you already have a QuickBooks file we are reviewing, we further discount our catch up rate to $100 if the month is already mostly complete (requires less than 10 transactions to be entered by us).
How to migrate your financials to Merritt Bookkeeping
Transitioning your bookkeeping to Merritt Bookkeeping is a simple process. Here’s what you need to do:
- Send us your latest financial statements – We can input your current balances into QuickBooks and get you started right away.
- Do you need access to past data? – If you need access to detailed transaction information from your Bench.co account, you have two options:
- Refer to your Bench financials – You can download your financial statements from Bench and use them for your reference.
- Have us re-do those months in QuickBooks – We can re-enter your historical transactions into QuickBooks for a more complete record.
At Merritt Bookkeeping, we are committed to providing our clients with the highest quality bookkeeping services. We understand the unique challenges that your business is facing the midst of Bench’s closure. We are here to help you get your books completed and to put this mess behind you.