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Bench Accounting Review: Features, Pricing, and User Experience


This comprehensive Bench Accounting review aims to provide an in-depth look at one of the leading online bookkeeping services available to small businesses and entrepreneurs. We'll explore Bench's features, pricing structure, user experience, and how it compares to alternatives in the market.

What is Bench Accounting?

Bench Accounting is an online bookkeeping service that combines proprietary software with human expertise. Founded in 2012, Bench has quickly become a popular choice for small business owners looking to outsource their bookkeeping tasks. The company's mission is to simplify financial management, allowing entrepreneurs to focus on growing their businesses rather than getting bogged down in numbers.

Key Features of Bench Accounting

1. Dedicated Bookkeeping Team

One of Bench's best features is the assignment of a dedicated bookkeeping team to each client. This team, led by a senior bookkeeper, manages your financial records, ensuring accuracy and consistency. The human touch sets Bench apart from purely software-based solutions.

2. Monthly Financial Reporting

Bench provides detailed monthly financial reports, including:

  • Income Statements
  • Balance Sheets
  • Top 10 Expense Reports
  • Visual Reports

These reports offer valuable insights into your business's financial health and performance trends.

3. Year-End Financial Package

At the end of each fiscal year, Bench prepares a comprehensive financial package that includes all necessary documents for tax filing. This feature significantly simplifies the tax preparation process.

4. Tax Filing Services

For users on the Premium plan, Bench offers both business and personal tax filing services. This includes both federal and state tax returns, making it a one-stop solution for bookkeeping and tax needs.

5. Catch-Up Bookkeeping

For businesses that have fallen behind on their bookkeeping, Bench offers a catch-up service to bring your books up to date quickly and efficiently.

6. Integration with Financial Tools

Bench integrates with popular payment processors and financial tools such as:

This integration streamlines transaction tracking and reduces manual data entry.

7. Secure Data Handling

Bench employs bank-grade 256-bit encryption to ensure that all financial data is secure and protected from unauthorized access.

Bench Accounting Pricing Structure

Bench offers several pricing tiers based on monthly expenses:

  1. Essential: $299/month (billed monthly) or $249 billed yearly
  2. Premium: $499/month (billed monthly) or $399 billed yearly

All plans include monthly bookkeeping, year-end financial package, and unlimited support. The Premium plan, which includes tax filing services, is available at an additional cost.

User Experience and Interface

Bench's user interface is widely praised for its clean design and intuitive layout. Key features of the user experience include:

  • Dashboard overview of financial health
  • Easy-to-read financial reports
  • Simple communication tools for interacting with bookkeepers
  • Mobile app for on-the-go access to financial data

Pros of Using Bench Accounting

  1. Time-Saving: Users report saving an average of 10+ hours per month on bookkeeping tasks.
  2. Stress Reduction: 95% of customers feel less stressed about their finances with Bench.
  3. Tax Season Simplification: 90% of users report easier tax seasons with Bench.
  4. Cost-Effective: On average, customers save 15% compared to other bookkeeping solutions.
  5. Responsive Support: Direct communication with dedicated bookkeepers is highly valued.
  6. Accuracy: Human oversight helps catch and correct errors that automated systems might miss.
  7. Scalability: Bench can accommodate growing businesses with its tiered pricing structure.

Cons and Limitations

  1. Limited Software Integration: Bench's proprietary software may not integrate with all third-party accounting tools.
  2. Cash-Basis Accounting Only: Bench doesn't offer accrual-basis accounting, which may be a limitation for some businesses.
  3. No Direct Bank Reconciliation: Users can't perform their own bank reconciliations within the platform.
  4. Learning Curve: Some users report a slight learning curve when first adapting to Bench's system.
  5. Communication Delays: Occasional delays in reaching support or bookkeepers have been reported.
  6. Limited Customization: The standardized reports may not suit businesses with unique reporting needs.

Customer Satisfaction and Reviews

Overall, Bench Accounting receives positive reviews from users. On review platforms like Capterra and G2, Bench consistently scores above 4 out of 5 stars. Users frequently praise:

  • The quality and accuracy of bookkeeping
  • Time saved on financial management
  • The helpfulness of dedicated bookkeepers
  • The user-friendly interface

However, some users have noted issues with:

  • Communication delays
  • Limited customization options
  • Occasional errors in categorization

Comparison with Alternatives

When compared to alternatives like QuickBooks Online or Xero, Bench stands out for its human-assisted approach. While it may be more expensive than some software-only solutions, many users find the added expertise and time savings justify the cost.

Conclusion: Is Bench Accounting Right for Your Business?

Bench Accounting offers a robust solution for small business owners looking to outsource their bookkeeping tasks. It's particularly well-suited for:

  • Small businesses and startups with straightforward financial needs
  • Entrepreneurs who want to focus on business growth rather than bookkeeping
  • Businesses that prefer human oversight in their financial management

However, it may not be the best fit for:

  • Larger businesses with complex accounting needs
  • Companies requiring accrual-basis accounting
  • Businesses that need extensive customization in their financial reporting

Ultimately, the decision to use Bench Accounting should be based on your specific business needs, budget, and preference for human-assisted vs. purely software-based solutions. With its combination of dedicated bookkeepers and user-friendly software, Bench offers a compelling option for many small business owners seeking to simplify their financial management.

To get a FREE extra month of bookkeeping with Bench, click here.

This post contains affiliate links.


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