Pilot is not a public accounting firm and does not provide services that would require a license to practice public accountancy. Whether you’re a startup seeking AI-powered automation or a growing business requiring strategic CFO support, you’ll find a strong contender to streamline your finances and empower confident decision-making. While it may take awhile to explore these Bench alternatives and find the solution that’s right for your business, this guide should give you a place to start the process.

Bench shutdown FAQ

  • Let CoCountant show you what dependable, personalized financial management looks like.
  • Know their technology stack, contract renewal date, top decision-makers, hiring trends, and top company news in one place.
  • When financial data is locked into a proprietary system, businesses are left vulnerable during sudden disruptions, risking data inaccessibility at critical times like tax season.
  • Service-based business owners and freelancers may want accounting apps that let them send estimates, quotes, and invoices.

It also eliminates the need to hire additional staff to manage finances, thus reducing labor costs. The bookkeeping platform gives you real-time access to essential financial information like cash flow, revenue growth, profit margins, etc. This allows you to make quick decisions based on current financial data without wasting time waiting for updates from the accounting team.

If you’re running a one-person show, though — i.e., a wide variety of customizable reports is not a priority — this is likely the pick for you. For small business owners, tax time will never be easy, per se, but there are ways to make it less painful. Chief among them is using good bookkeeping software to keep track of the business’s finances throughout the year. If you have historical financial data in Bench, look for an alternative that offers migration services to transition your records. Choose an accounting solution that connects with the business tools you already use, such as your POS system, payment processor or payroll service. Compare Bench Accounting alternatives for your business or organization using the curated list below.

At a minimum, you can manage basic client profiles, upload your logo, see paid and unpaid invoices, and add standard net terms. However, Wave will likely fall short for more complex small businesses, especially those planning to scale. It does not offer time, project, or inventory tracking, and its automatic transaction bench accounting competitors data requires a bit of manual maintenance to keep it accurate.

Best Bookkeeping Alternatives to Bench

You also get support from dedicated bookkeepers who provide monthly financial statements and expense overviews to keep you in control of your finances. If you’re looking for a tech-forward solution, Pilot offers advanced integrations and automation. LessAccounting stands out for its user-friendly platform and hands-on financial management tools. Bookkeeper360 is a cloud-based accounting solution that provides comprehensive financial management to small and medium-sized businesses. When looking for the best accounting software for your small business, aim for affordable tools to solve your current challenges and support your company as it grows.

The best accounting software and tools for content creators

The average cost of accounting software for small businesses ranges from $7 to $300 per month, with base plans running around $50 monthly. Digits uses artificial intelligence to automate bookkeeping processes and give companies access to real-time financial data. They offer bookkeeping powered by AI in addition to financial adviser access for strategic planning and well-informed decision-making. We are the top US accounting firm specializing in startups and small businesses.

AccountsIQ

Many small business accounting services provide onboarding guides or in-app wizards that help new users set up their bookkeeping software. However, if you’re tracking inventory, adding payment processing, or customizing settings, prepare to spend several hours. All small business accounting software includes core features for bookkeeping.

  • This frees up enterprises to concentrate on their main company activities rather than handling financial record-keeping.
  • If your priority is reliable, scalable financial management without compromising control or transparency, CoCountant is an excellent choice.
  • Look for a Bench alternative that automates manual tasks like data entry, invoicing, and reporting.
  • If you’ve been doing your books in another system, you can’t import the individual transactions into Bench.

Businesses with simpler needs or tighter budgets may find more cost-effective solutions elsewhere. Additionally, Pilot’s heavy reliance on automation may not provide the personalized service some businesses prefer. Pilot 1 is an online bookkeeping service tailored for startups and small businesses. Known for its focus on supporting growing companies, Pilot offers additional services like tax preparation and CFO advisory. While Accountant offers a comprehensive service range, the reliance on proprietary software like ClientBooks poses significant risks, as demonstrated by the recent Bench shutdown.

1-800 Accountant 4 offers a full suite of financial services tailored to small businesses and entrepreneurs, blending human expertise with technology to simplify financial management. With over 20 years of experience, they position themselves as a comprehensive solution for businesses seeking bookkeeping, tax preparation, payroll, and more. The best accounting software for financial reporting pulls more information from your general ledger and uses additional financial metrics to provide deeper insights. These systems may offer accounts payable and accounts receivable aging, expense trend, profit margin analysis, and comparative reports. Some have tax-specific options and let you segment the data in ways that make the most sense for your business goals, model, and industry. While Pilot offers advanced features and services, these come at a premium price point compared to other bookkeeping options.

Compare features, ratings, user reviews, pricing, and more from Bench Accounting competitors and alternatives in order to make an informed decision for your business. QuickBooks Online is one of the most well-known bookkeeping solutions on the market. With its wide range of features and user-friendly interface, it has become a popular choice for businesses of all sizes. This means that businesses may not have access to accurate, up-to-date financial information at any given time, hindering decision-making and financial planning processes. Also, if you haven’t done your books in a long time, you’ll need to pay extra to catch up. Invoicing comes with almost all bookkeeping apps, including free accounting software for startups and freelancers.

If you’re a small business owner looking for a user-friendly and intuitive accounting software that offers a variety of features, consider LessAccounting over Bench. For businesses that require accrual basis accounting, Pilot offers an advanced platform to support growth. In addition to the monthly or annual price of accounting software, consider any one-time or ongoing costs. For example, if you are switching software providers, you may pay a data migration fee to transfer accounting or payroll data.

When financial data is locked into a proprietary system, businesses are left vulnerable during sudden disruptions, risking data inaccessibility at critical times like tax season. Kick 3 offers an AI-powered bookkeeping solution designed for business owners who prioritize efficiency and automation. If your business is scaling or requires a more hands-on approach, it’s worth exploring other alternatives that provide these capabilities.

While Bench Accounting has carved out its niche as a trusted name in online bookkeeping services, it’s not the only player in the field. Xendoo is a cloud-based fintech company providing comprehensive online bookkeeping, accounting, and tax services specifically designed to meet the needs of small businesses. Its automated features for managing bills, expenses, tax deductions, job costing, inventory, etc., offer comprehensive financial management more suitable for complex businesses than Bench.

Businesses on a tight budget or with simpler accounting needs may find better value for their money with other bookkeeping solutions. As a business owner, you focus on generating more revenue and often forget mundane tasks such as bookkeeping and accounting. A bookkeeping platform can help you ensure that your finances are accurate and up-to-date. To understand what features and functionalities you need, consider the financial tasks and workflows that you spend the most time on, like those prone to errors or involving repetitive data entry. Crucially, your financial data remains in your hands, stored securely in widely trusted platforms like QuickBooks Online. This means no vendor lock-in, no data accessibility concerns, and no unpleasant surprises.

As small businesses scale, their financial management needs often surpass the capabilities of basic bookkeeping solutions. Bench’s focus on cash-basis accounting and limited integrations left many business owners feeling constrained. The shutdown became a turning point for customers seeking solutions that could grow with them. The best affordable accounting software for small businesses offers tiered pricing with entry-level plans that include core bookkeeping features for recording income, expenses, sales, and purchases. Slight differences in how the vendor approaches usage limits, feature add-ons, and users can impact accounting software costs. Xero is another popular cloud-based accounting software that offers a range of features and pricing options for businesses of all sizes.

With customizable templates and real-time data, users can easily generate accurate financial reports for their businesses. The software also allows users to create budgets and track expenses against set targets, giving invaluable insights into the financial health of the company. Unlike many other bookkeeping services that offer a generic package, doola provides tailored solutions that address unique challenges affecting businesses and help them achieve their financial objectives. This saves you time and resources spent updating your books and getting them ready for year-end accounting and tax filing.