Bench Accounting

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What is Bench Accounting?

Bench Accounting caters primarily to startups, SMBs, and enterprises to handle their accounting and bookkeeping needs. A web-based app, Bench Accounting provides a robust set of accounting tools with a designated team of dedicated professional bookkeepers for all their clients. This bookkeeping and accounting software aims to help their clients focus more on growing and expanding their business, while the software takes care of all their accounting and bookkeeping requirements.

Subscribers of the Bench Accounting office are able to upload and share spreadsheets, transaction documents, and receipts. Moreover, the users are spared from the grunt work when it comes to accounting, as a dedicated bookkeeping team sorts everything out. These expert bookkeepers provide users with a variety of their transactions, reconciling statements from their bank, credit card, and even PayPal accounts while ensuring that the client’s book is accurate.

Moreover, by subscribing to bench online bookkeeping, their bookkeepers will also provide receipt management where they attach receipts to corresponding transactions present in the accounting system. The bookkeepers need to ensure that the receipts are accounted for, as this will help companies create a complete and spotless record.

Bench Accounting software also provides the benefits of multiple integrations with third-party apps like Stripe, Square, Shopify, and Freshbooks. An added bonus is that you can choose from the give expense-based packages that can either be selected annually or monthly. With services as low as $119/month, Bench Accounting is a cost-effective tool for all types of businesses.

Vendor details

  • Company: Bench
  • Website: www.bench.co
  • Founded in 2012
  • Located in Canada

Key Metrics of Bench Accounting App

Dedicated bookkeepers

With Bench Accounting, customers can save time and money spent on complex accounting and bookkeeping activities. This software provides expert bookkeepers that execute high quality and accurate services that provide complete transparency to the user in terms of income, expenses, payables, receivables, and more, without having to do any of the time-consuming work.

Real-time reports

Bench for accountants provides interactive and easy-to-understand financial statements every month. These statements highlight all the transactions, which are organized into specific categories for easy tracking. If needed, customers can even customize and create visually engaging financial reports for their investors and customers. These reports can provide details about the company’s revenues, expenses, and profit, hence, you get an idea about the entire financial status.

Highly secured

As Bench Accounting is connected to all major banks and popular payment gateways, the software provides 256-bit encryption that ensures all your financial information is safe and unaccessible to the best of hackers, unauthorized personnel, and even leaks and breaches.

Unlimited support

Financial tools can be difficult to decipher and understand. With Bench Accounting, whenever you need to connect with your bookkeeping team, the app will instantly connect you with the experts. Hence, as and when the need arises, you can send and receive messages instantly. Basically, users of this software have access to their finance team in real-time.

Tax support

The company provides its clients with tax professionals for support. It also offers CPA support and services like catch-up bookkeeping, which is for accounts that are long overdue.

Bench Accounting Features

The team of Bench Accounting aims to make accounting simple, effortless, and affordable for all types of companies. To accomplish this, they provide a host of features as listed below:

Bookkeeping Support and Financial Technology

  • Bookkeeping for bank accounts, credit cards, loans, and merchant account processors
  • Categorizing all transactions, reconciling bank accounts, and creating income statements and balance sheets
  • Importing financial information from linked accounts automatically without having to send any documentation manually
  • Create customized visual reports, which includes business expenses, revenue, and profits that can be compared over time
  • Catch-up with bookkeeping for accounts that are overdue
  • Get safe and dedicated logins for a certified public accountant (CPA), business partners, and investors
  • Easily use the mobile app to check your finances on the go

Small Business Tax Support

  • Get support for taxes, which includes preparation of a year-end financial package
  • Experts at Bench Accounting with collaborating with clients’ CPA or tax professionals to ensure the tax filing process is flawless

Customer Service and Security

  • The team of bookkeepers provided to the clients is all in-house employees who have undergone proper training
  • Get 24/7 phone call and email support without any extra cost
  • Protect financial data with SSL encryption and employee background checks

Bench Accounting Pricing

Bench Accounting cost provides various packages, ensuring small businesses and large-scale enterprises, both can get the best of the software. The customer can choose a plan based on their average monthly expenses. Mentioned below are the details of each plan:

Starter – $139/month (annual billing) or $159/month if billed monthly

  • Monthly expenses below $1k

Micro – $159/month (annual billing) or $179/month if billed monthly

  • Monthly expenses from $1k to $7.5k

Boutique – $179/month (annual billing) or $199/month if billed monthly

  • Monthly expenses from $7.5k to $20k

Venture – $219/month (annual billing) or $249/month if billed monthly

  • Monthly expenses from $20k to $60k

Corporate – $299/month (annual billing)or $349/month if billed monthly

  • Monthly expenses up to $1M

Bench Accounting Pros and cons

Just like any other software, there are a few disadvantages to this tool too. Based on the feedback shared by Bench Accounting reviews, we have compiled a list of pros and cons.


PROS:
  • Fast and Saves You Time

The most prominent advantage of this software is the number of time companies save by not having to carry out mundane bookkeeping tasks. All they need to do is link their financial information with the tool and the experts will take care of the rest.

  • In-house Expertise

Another great benefit is that all of the bookkeeping experts providing by Bench Accounting are employed by the company. These employees receive regular in-depth training and start every customer relationship with a call to ensure they understand the requirements clearly.

  • Affordable

When compared to other bookkeeping services, this software is more affordable and cost-effective. Most bookkeeping tools charge clients based on the number of accounts, however, Bench Accounting has monthly plans, which brings the overall cost down drastically.

CONS:
  • Difficult to Switch Providers

It works on a proprietary bookkeeping system. Hence, if customers want to switch bookkeeping services, they need to start the entire process from scratch and reformat and import all financial information from the Bench Accounting team.

  • No Tax Filing Services

Although Bench provides tax support, they won’t actually file your taxes for you, which is a drawback for small businesses looking to streamline financial tasks.


Bench Accounting Integrations

You can integrate the following tools to Bench Accounting:

  • Square
  • Shopify
  • Gusto
  • Freshbooks

Specification

Free Trial- Yes

Deployment

  • Cloud Hosted

Training


Bench Accounting Support

  1. Online
  2. Business Hours
  3. 24/7 (Live Rep)

Bench Accounting Competitors

Here are some bench accounting alternatives Toolsmetric recommend you to see before opting this software for your business :

Top Bench Accounting Alternatives

If Bench Accounting doesn’t suit your requirements, here are the top three alternatives to Bench Accounting that could help you:

1. Zoho Books

One of the best financial reporting tools on the market, Zoho Books is an online accounting platform that enables businesses to manage their money flow. This software can be used by customers to manage their invoices and keep expenses in check. Considering its features, this software is aimed towards providing support to small businesses to manage their finances and remain on top of their cash flow. To know more about this software and if it is a perfect match for your needs, read the in-depth review by ToolsMetric!

2. FloQast

Financial management tools, FloQast is created by accountants for accountants to close accounts faster and more accurately. This software is ideal for all types of businesses, as it equipped with a number of advanced and essential features and tools. The software has been designed specifically for financial account managers,  financial officers, and accountants, and it is a cloud-based accounting solution.

With this software, users can manage information that is related to client data, accounting processes, reconciliations, and documents. Read the in-depth review by ToolsMetric for more details.

3. QuickBooks Online

Intuit’s Quickbooks Online provides all the types of accounting features, right from accounts receivable and payable features, to tracking projects and inventory. This makes it a ‘must-have’ for every business. Companies can make use of this software to carry out tasks like bank reconciliation, tracking expenses, drafting invoices, and monitoring financial reports, among other features. To know more about the software, you can read the in-depth review by ToolsMetric.


Free Trial
Supported Devices
Windows
Linux
Android
iPhone/iPad
Mac
Web-based
Deployment
Cloud Hosted
Cloud, SaaS, Web
Mobile – Android Native
Mobile – iOS Native
On Premise
Open API
Language Support
English
Hindi
Spanish
French
Russian
Italian
Dutch
Danish
Polish
Turkish
Swedish
Pricing Model
Monthly payment
Annual Subscription
Quote-based
Training
Documentation
Webinars
In Person
Live Online
Customer Types
Small Business
Medium Enterprises
Large Corporations
Freelancers
Support
Online
Business Hours
24/7 (Live Rep)
Features
Email Marketing
Landing Pages
Marketing Automation
Webinars
CRM
Autoresponders
Integration
Integration: SutiHR can be integrated with external products such as eSignature, Payroll, Survey, Helpdesk, and multiple Job portals.
9 Total Score
1 reviews
“Completely alleviated stress while reducing my bookkeeping costs”

When I first heard about Bench, I was nervous about switching from a standard, old school accounting firm I'd worked with for many years. Within a week, my fears were dissipating. Three years later, my fears are completely gone. Bench completely meets my needs as a small business owner - while saving me time and money.

9Expert Score
Design
9
Usability
9
Support
9
Price
9
8.7User's score
Design
8
Usability
9
Support
9
Price
9
PROS
  • Bench is SIMPLE. The software provides me an accurate and easy to understand overview of my monthly and annual financials with easy-to-process visuals and graphs. The software integrates automatically with my bank and credit card, alleviating the back and forth calls and emails I used to labor through with my former "brick and mortar" accountants. When I have a question, the Bench team is always available and quick to respond.
CONS
  • Platform errors and the lack of additional features.
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