Top 5 Bench Accounting Alternatives in 2023

Accounting and bookkeeping are two of the most important focus areas for any business, as no venture can succeed without effective financial management. However, every company may be unable to retain expert bookkeepers and invest in dedicated accounting resources. This is where Bench accounting alternatives come into the picture, allowing any business to manage its accounts without explicit accounting expertise. These services are versatile, flexible, affordable, and easy to use to meet the accounting needs of various businesses.

Bench is one such online bookkeeping service that offers a wide array of accounting and bookkeeping services at a great value. Its robust accounting tools, along with access to a dedicated bookkeeping professional, can allow you to focus more on your business instead of struggling with accounting and bookkeeping.

However, the proprietary Bench solution does not integrate easily with other popular accounting solutions. This, along with a lack of an Android mobile app and the need for separate software for different accounts management functions – invoice management, bill payments, inventory management, and payroll – may mean Bench is not the right choice.

Many Bench accounting alternatives offer comparable services and features while overcoming major limitations. Comparing these with your business needs and expectations can help you make a well-informed decision when it comes to choosing the right online accounting and bookkeeping service for you.

Here are the top five competitors of Bench accounting alternatives for you to consider:

• QuickBooks Live: Best for companies using and seeking assistance with QuickBooks Online
• Xendoo: Best for e-commerce and franchise businesses
• Bookkeeper.com: Best for virtual full-service accounting support
• FreshBooks: Best for Self-employed professionals and small businesses
• 1-800 Accountant: Best for non-profit organizations

5 Best Bench Accounting Alternatives

Businesses today have a host of accounting software to choose from, depending on their business needs, features they want to use, number of users, and price. There are also many competitors of Bench Accounting offering comparable services. Here are five best Bench accounting alternatives you may want to consider:

QuickBooks Live – Best for companies using and seeking assistance with QuickBooks Online

Overview

Best for users of QuickBooks Online, QuickBooks Live helps with fundamental tasks like managing bank feeds, reconciling accounts, classifying transactions, and reviewing monthly statements. QuickBooks Live matches you with a dedicated bookkeeper who can assist you in day-to-day bookkeeping operations while also training you. This makes it the best solution for businesses seeking personal dedicated support and new QuickBooks users.

Pricing

QuickBooks Live offers three pricing tiers based on your monthly expenses:

• Low Volume: $200 per month for monthly expenses up to $10,000
• Medium Volume: $300 per month for monthly expenses from $10,000 to $50,000
• High Volume: $400 per month for monthly expenses above $50,000

Additionally, you will also need to pay a monthly subscription to QuickBooks Online, ranging from $30 to $200.

The first month after signing up will focus on onboarding and cleaning up your books for $500, with the monthly fee being applicable from the 2nd month based on your pricing tier.

QuickBooks Live does not offer a free trial. But you can cancel their services anytime as you do not need to enter into a set contract.

Xendoo – Best for e-commerce and franchise businesses

Overview

Best for franchise-based or e-commerce businesses, Xendoo’s online bookkeeping and accounting service gives you access to a network of dedicated bookkeeping professionals. It is an easily scalable and customizable all-in-one solution for all your accounting needs. Transparent pricing, catch-up bookkeeping, tax consultation, preparation and filing, and payroll integration are some of the key standout features that put Xendoo above its competitors.

Pricing

Xendoo offers three subscription plans based on your monthly expenses and the number of bank accounts or credit cards your business uses:

• Essential: $395 per month for monthly expenses up to $50,000 and up to four bank accounts or credit cards
• Growth: $695 per month for monthly expenses up to $75,000 and up to six bank accounts or credit cards
• Scale: $995 per month for monthly expenses up to $125,000 and up to 12 bank accounts or credit cards

You can also opt for a custom plan for monthly expenses of more than $125,000.

Xendoo also offers the following add-on services:

• Catch-Up Bookkeeping: Starting at $295 per month
• Fractional Chief Financial Officer (CFO) Services: Starting at $1,500 per month
• Year-round Tax Support and Filing: $1,200 per year

By signing up annually, you can avail yourself of a 10% discount. You need 30 days’ notice if you want to cancel your subscription.

Bookkeeper.com – Best for virtual full-service accounting support

Overview

Bookkeepr.com is a virtual full-service accounting solution offering a wide range of add-on services – like tax preparation, payroll management, and bill payment – and free services – like financial and business planning and tax advice. It is ideal for businesses looking to outsource their bookkeeping operations as you get access to a dedicated bookkeeper and account manager. Easy integration with QuickBooks products makes Bookkeeper.com the best choice for QuickBooks Online users.

Pricing

Bookkeeper.com offers four subscription plans depending on the frequency of service and number of transactions each month.

• Small Business: $399 per month, up to 100 transactions, monthly service
• Small Business Plus: $599 per month, up to 200 transactions and 20 bill payments, semi-monthly service
• Small Business Advanced: $799 per month, up to 300 transactions and 40 bill payments, weekly service
• Custom: Custom pricing, more than 300 transactions, weekly service

Add-on tax filing, payroll management, or budget preparations are also available with a custom pricing structure.

FreshBooks

Overview

FreshBooks is a cloud-based accounting solution best suited for freelancers and self-employed individuals who run a service-based business and do not need to track or manage inventory. It offers excellent invoice customization features and is affordable and easy to use for users with limited to no accounting background.

In addition to invoice management, FreshBooks also offers features for tracking your billable hours, project and client management, online payment acceptance, double-entry accounting, mobile accounting, and recurring invoices. Its DIY bookkeeping features are best for businesses primarily working remotely and are better suited for Mac users.

Pricing

FreshBooks offers four pricing plans:

• Lite: $17 per month, supports one user
• Plus: $30 per month, supports one user
• Premium: $55 per month, supports one user
• Select: Custom pricing

You also have the option to avail a free trial and 50% off the first five months for new users. You can save a further 10% on an annual subscription.

1-800 Accountant

Overview

1-800 Accountant is a virtual accounting firm that can help manage all your accounting, bookkeeping, tax preparation and filing needs. It gives you access to a network of bookkeepers, tax advisors, payroll specialists, and accounting professionals well-versed in your state and industry’s regulations.

1-800 Accountant can support your business at every stage – from entity formation to ongoing compliance and bookkeeping, making it an ideal solution for non-profit organizations and small businesses looking for extensive year-round support.

Pricing

1-800 Accountant offers three pricing plans:

• Business: $139 per month, access to year-round proactive tax planning and tax advice services
• Corporation: $239 per month, access to year-round proactive tax planning, tax advice, and tax preparation services
• Enterprise: $399 per month, access to year-round tax advice, proactive tax planning, tax preparation, and bookkeeping services

You will need to attend a live bookkeeping consultation – for free – before signing up, and you must pay for an annual subscription for the plan you choose. You also get the option to customize a 1-800 Accountant package to better suit your business needs.

Our Methodology for Selecting the Best Bench Accounting Alternatives

We have gone beyond the basic accounting functionalities and assessed numerous factors when evaluating the best alternatives for Bench bookkeeping services. We have looked at factors like advanced accounting features, analytics and reporting capabilities, pricing structure, scalability, learning curve, and ease of use.

Additionally, we have also considered customer support, remote accessibility, and access to learning (or training) resources to compile the list of five best alternatives to Bench’s online bookkeeping service.

Conclusion

Access to the right accounting and bookkeeping solution can often be the difference between the success and failure of a small business, especially when it comes to reporting and regulatory compliance.

Although Bench may be a great fit for self-employed individuals and small businesses, its lack of scalability may be a challenge for growing businesses. Therefore, it is crucial to look at competitors and alternatives to Bench bookkeeping services to select the solution best suited to your business’s current and future accounting needs.

Frequently Asked Questions