Bench Accounting Review: Features, Pricing & Alternatives

“I hope the story of Bench goes on to become a warning for VCs that think they can ‘upgrade’ a company by replacing the founder. “I hope the story of Bench goes on to become a warning for VCs (venture capitalists) that think they can ‘upgrade’ a company by replacing the founder. It never works,” he said. The statement acknowledges that the closure is “abrupt and may cause disruption” and says the firm is committed to helping customers “navigate through the transition.”

• Other bookkeeping companies were quick to reach out to Bench’s former clients, with rivals such as Acuity and Better Bookkeeping making reference to Bench’s closure in social media pitches.
• The Message tab enables you to send and receive messages from your assigned bookkeeper.
• If you sign up for an annual contract and pay for the year upfront, your price for the Essentials plan breaks down to $249/month.
• I did have some trouble getting it to load all my transactions for multiple accounts.

Simplify your small business bookkeeping with Bench.

We’re here to help you explore whether our cash basis bookkeeping is a good fit for your business. Reach out anytime — we’d love to learn more about your business needs and see how Bench can support you. Every report accessible in the Bench platform can be exported to an Excel file for easy sharing with anyone from business partners to accountants. With Bench shutting down, now is the perfect time to transition to ReInvestWealth. Our platform is designed to keep your financials organized, giving you more time to focus on growing your business. Plus, with free migration on the annual plan, this is more than just a transition; it’s an upgrade for your business.

Accounts Payable & Accounts Receivable Support

Bench Accounting is a virtual accounting service provider that offers bookkeeping and tax support for businesses and individuals. Monthly prices are either $299 or $499 per month, depending on whether you need tax services. Bench has a proprietary bookkeeping system that doesn’t sync with other accounting software. It does, however, allow you to download Excel files bench accounting of historical data, which can be uploaded to other programs. But moving the information and verifying it was done correctly can take time.

• Read how Bench’s expert financial guidance and tools helped Violet Moon Jewelry navigate the complexities of business finances, from basic bookkeeping to strategic investment decisions.
• Get intuitive software that syncs directly with your small business accounts to deliver tidy, perfect books each month.
• You’ll also have access to a tax professional to help you make tax preparation and filing easier.
• Finally, because it operates on proprietary software, it doesn’t sync with commonly used accounting solutions like QuickBooks Online and Xero.
• The Fit Small Business editorial policy is rooted in the company’s mission, which is to deliver the best answers to people’s questions.

We partner with the world’s best

“Bad investors destroyed a great Canadian company by replacing the founder with so-called professionals,”  Nejatian said on social Partnership Accounting media platform X. Learn more about Bench, our mission, and the dedicated team behind your financial success. If you’re switching from QuickBooks, we’ll work from your closing balances to do your bookkeeping going forward. If you’re not sure whether your closing balances are accurate, we recommend chatting with one of our Onboarding Specialists about Catch Up bookkeeping. You won’t need any other software to work with Bench—we do everything within our easy-to-use platform. You won’t need any other software to work with Bench—we do everything within the platform.

You’re our first priority.Every time.

Also, it doesn’t have financial planning services like investment and business expansion. Finally, because it operates on proprietary software, it doesn’t sync with commonly used accounting solutions like QuickBooks Online and Xero. Bookkeeper 360, which integrates with both QuickBooks Online and Xero, is a good fit for more complex small businesses that require advanced reporting and weekly updates as opposed to monthly ones.

• Once I installed the app, I could log in to my Bench account, load my financial data, and replace the demo data.
• Its score took a slight hit in this category because it doesn’t offer CFO advice, but you do have access to unlimited tax advisory services.
• She also regularly writes about business for various consumer publications.
• This California-based public relations and brand expert is looking at the next chapter of her career and leveraging Bench’s financial insights to stay prosperous and agile on the long, winding path to retirement.
• She holds a Bachelor’s degree from UCLA and has served on the Board of the National Association of Women Business Owners.

How Bench Helped Gaming Entrepreneur Stephen Works Manage His Multiple Income Streams

Justin Metros, the co-founder and CTO of Radiator, said years of his company’s accounting and tax documents are still stored on the site, although he no longer uses the platform. Bench, a Canada-based accounting startup that offered software-as-a-service for small and medium-sized businesses, has abruptly shut down, according to a notice posted on its website. The company that has described itself as North America’s largest bookkeeping service for small businesses says on its website in a “notice of closure” dated Friday that the platform is “no longer accessible.” Occasionally, we may need additional documents, such as account statements or receipts, to ensure the information we have is accurate. Sharing files with your bookkeeping team is quick and easy—just upload the document, and we’ll handle the rest.

Unlimited customer support

• These products can streamline tasks like reconciling accounts and categorizing transactions, but they don’t take bookkeeping off your plate completely like Bench does.
• Plus, with free migration on the annual plan, this is more than just a transition; it’s an upgrade for your business.
• Bench’s core product is online bookkeeping software paired with in-house bookkeepers.
• British small-business software maker Sage Group also participated in that round and Bank of Montreal provided some debt.
• Book a demo today to see what running your business is like with Bench.
• Bookkeeper 360, which integrates with both QuickBooks Online and Xero, is a good fit for more complex small businesses that require advanced reporting and weekly updates as opposed to monthly ones.

As many reflect on the collapse of Bench, we are left with hard questions about accountability, vision and the long-term implications of this fast-paced business culture. Unicorn status can be as much of a curse as it is a badge of honour for those who lack the understanding of stable growth and what it means to be an enduring company. Because each plan depends on many factors, we looked at the value provided in terms of the time and potential money that you’re saving by using the service.

Bookkeeper 360

Thousands of small business owners trust Bench with their books.Here’s how we’ve helped our customers across North America focus on what they do best. Bench could’ve earned higher marks in this criterion if it offered video meetings or a direct number to call for customer support; you must schedule a meeting through the Bench platform. However, one of the most appealing features of the provider is that you have access to unlimited support, no matter which plan you choose.

Our AI-powered bookkeeping software is user-friendly, affordable, and provides features like automated bookkeeping, financial reports, receipt tracking, and more, to help you focus on growing bookkeeping your business. Bench helps small business owners like you save time and money doing your bookkeeping and income taxes. The Accounting tab on your dashboard provides you with real-time updates of your financials, showing exactly how much money you have and how you’re spending it. You can access your income statement, balance sheet, and other reports that are fully customizable. You can tag transactions with labels like products, clients, locations, or sales channels to see exactly how your business is performing.