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The Agent Blog

Bench Bookkeeping For Betterpay Merchants

Betterpay Introduces A New Product That All Merchants Need and Agents Can Earn More.

January 17th, 2020

Betterpay has recently partnered with America’s largest bookkeeping company, Bench, to provide Betterpay Agents the opportunity to offer their merchants a complete bookkeeping solution. 

In today’s age, offering merchants just the ability to process payments is not enough. Merchants need real solutions to help them grow and run their business, such as payment processing, small business loans, employee management systems, and bookkeeping. 

Here is how merchants can get started with Bench 

Simply share the following link where your merchants can save 20% Off Bench bookkeeping and earn a commission for each sign up. 

https://bench.co/partner/betterpay/

Getting Started

Once your merchant signs up with Bench, they will get matched with one of Bench teams through the Bench app. Bench always starts with a phone call to get to know your merchant’s business. This helps them understand how to categorize transactions and how to tailor their bookkeeping effectively.

Bench isn’t just a bookkeeping company; there also a tech company. This means they can employ tech wizardry like API integrations and machine learning to do your merchant books flawlessly and fast.

Getting Merchant expenses

In the good old days, a bookkeeper had to come to the merchant’s office and pick up a shoebox of receipts to start putting all their transactions into a ledger. Well, we guess it’s still “the good old days” for most bookkeepers. But at Bench, they go straight to the source by integrating with the merchant’s bank (if they have an integration), merchant processor, and credit card company, so that all income and expenses are pulled automatically into Bench. Oh, and they use bank-grade security and encryption. Slightly more secure than carrying receipts in a messenger bag. Merchants don’t have to worry about mailing receipts; they can snap a picture and upload it to the Bench web app.

How Bench talks to merchants 

The ideal merchant workweek probably doesn’t include long meandering phone chats with their bookkeeper. So they try and stay out the way as much as possible. But they can’t read minds. So when they need more info about a transaction, they will message the merchant through the Bench app. From there, the merchant can quickly categorize the transactions they’re not sure about. If merchants ever have a question about their financial statements or anything related to their books, merchants can shoot them a question through the app, and they will respond within one business day.

Merchants can also book a call with their bookkeeper whenever they like, as Bench is always happy to nerd out about bookkeeping and financial statements.

What Merchants Get With Bench 

Here are the tangible “stuff” Bench bookkeeping team works on. 

  • Merchant monthly financial statements: Income Statement, Balance Sheet, Top 10 Expenses Report
  • Helpful visual reports that show merchants revenue, expenses, and profit over time
  • Digital Year-End Financial Package merchants can send to their accountant at tax time. This includes:
    • Income Statement
    • Balance Sheet
    • Trial Balance
    • Journal Entry Summary
    • General Ledger

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