Bench Review: Ultimate Bookkeeping Software Breakdown

how to work with bench accounting software

Send us your latest balance sheet and income statement, and you’re all set. With Bench, you get a team of real, expert bookkeepers in addition to software. You’ll always have the human support you need, and a mobile friendly platform to access your up-to-date financials.

QuickBooks Online: Best Overall Small Business Accounting Software

Especially when you’re starting out, it can take a lot of time and energy getting categories set up and figuring out what you need to do to get accurate financial reports. If you already find aspects of running your own business stressful, this only adds to the problem. Accounting software can also prepare financial reports automatically. That means you get a balance sheet, income statement, or cash flow statement for your business at the end of the month, usually with just a couple of clicks. NerdWallet’s accounting software ratings favor products that are easy to use, reasonably priced, have a robust feature set and can grow with your business. The best accounting software received top marks when evaluated across 10 categories and more than 30 subcategories.

Company Types

Software providers also receive points based on other resources available, such as self-help articles and user communities. Finally, they are awarded points based on the ease with which users will find assistance from independent bookkeepers with expertise in the platform. It’s a bit expensive compared to cloud accounting programs, but much less expensive than QuickBooks Enterprise—which is another popular desktop accounting program. The only mobile app available captures receipt images but nothing else. Finally, ease of setup and ease of use is about what we expect for a desktop program, but much harder than cloud-based software.

Bench Reviews

how to work with bench accounting software

” Now we know the product hasn’t failed so we’re not worried it’s going to fail because of price. It’s like, “Why are we sitting here not talking those people? There are a whole bunch of people that we have to basically get on the rooftops and shout so they’ll hear us.

how to work with bench accounting software

Issues that are Addressed by Using Bench

These ratings are meant to provide clarity in the decision-making process, but what’s best for your business will depend on its size, growth trajectory and which features you need most. We encourage you to research and compare multiple accounting software products before choosing one.NerdWallet does not receive compensation for any reviews. NerdWallet independently reviews accounting software products before determining our top picks. We collect the data for our software ratings from products’ public-facing websites and from company representatives.

how to work with bench accounting software

  • Finally, because it operates on proprietary software, it doesn’t sync with commonly used accounting solutions like QuickBooks Online and Xero.
  • The best accounting software received top marks when evaluated across 10 categories and more than 30 subcategories.
  • Bench saves you time, not to mention precious hair follicles, by arranging a team of accountants (and CPA staff) to keep your books.
  • Let’s not forget the enchanting dance of communication with our main Bench point of contact, our very own guide through this nightmare.
  • Every report accessible in the Bench platform can be exported to an Excel file for easy sharing with anyone from business partners to accountants.

Users have also expressed interest in CFO advisory services, a feature not currently provided by Bench. Tim worked as a tax professional for BKD, LLP before returning to school and receiving his Ph.D. from Penn State. He then taught tax and accounting to undergraduate and graduate students as an assistant professor at both the University of Nebraska-Omaha and Mississippi State University.

QuickBooks Online

To learn more, check out Nav’s accounting software resources. Bench Accounting offers two monthly subscription plans, Essential for $299 and Premium for $499. If you sign up for an annual contract, the monthly price goes down to $249 for Essential and $399 for Premium. While both offer basic bookkeeping and year-end reporting, Premium has unlimited tax advisory services and federal and state tax filing.

  • This report shows the areas of your business where you spend the most money.
  • Xero is currently 90% off for three months, or you can try any plan for free for 30 days.
  • Eventually every bank will be the same as the best ones we have.
  • Bench offers a pretty great deal in that they provide one month of bookkeeping service for free upon signing up.
  • When it comes to bookkeeping and accounting, having a reliable tool in your arsenal is crucial.

Moreover, we’d also like to see customization options to enable users to generate reports based on what they want to see. The A/P section focuses on vendor management, bill management, bill payments, and other payable-related transactions. A/P features include creating vendors and bills, recording purchase orders and converting them to bills, creating service items, and recording full or partial bill payments.

The bank reconciliation module must also let users reconcile accounts with or without bank feeds for optimal ease of use. Lastly, the software must generate useful reports related to cash. For instance, its project accounting feature doesn’t allow you to compare estimated bench accounting login and actual inventory used, which is also the weakness we found in QuickBooks Online. Those who need this level of project profitability tracking should consider QuickBooks Enterprise if they also need inventory, or FreshBooks if they’re a service-based business.