Bench Accounting Pricing Plans and Features

Bench Accounting offers flexible pricing plans to suit different business needs. Their pricing plans start at $39 per month for a basic plan.

One of the notable features of Bench Accounting is their ability to handle complex financial tasks, including payroll and invoicing. This is a game-changer for small business owners who struggle with these tasks on their own.

Their basic plan includes 5-10 invoices per month, which is suitable for solo entrepreneurs or small businesses. This plan also includes access to their expert accountants and bookkeepers.

Bench Accounting's expert team can handle tasks such as financial statement preparation, tax planning, and more. They can also provide guidance on financial management and planning.

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Bench Accounting offers two pricing tiers: bookkeeping and bookkeeping + tax. The bookkeeping tier costs $299/month if billed annually, or $349/month if billed monthly.

You can save money by paying annually, but the 25% savings may not be feasible for many startups. Bench's pricing is competitive, and it doesn't change based on your business's annual revenue, unlike some of its competitors.

Here's a breakdown of the pricing plans:

Bench's pricing is relatively affordable, starting at $249 per month, making it a great option for small businesses and startups.

Bench offers two pricing plans, which vary based on whether you bill month-to-month or commit to an annual contract. The more advanced plan requires a one-year contract.

Both plans are competitively priced and don't change based on your business's annual revenue. This is a relief for many small business owners who don't want their prices to increase as their business grows.

The free 30-day trial is a great way to get a feel for the software before committing to a plan. You can try out the features and see if it's a good fit for your business.

Bench's pricing is as follows:

Some competitors' prices increase as your average monthly expenses rise, so Bench's pricing is a refreshing change.

Bench offers a free one-month trial that lets you experience their bookkeeping service without providing any payment information upfront.

You'll have access to the prior month's bookkeeping, which is completed in one to two days.

During the trial, you can speak with bookkeepers on the phone to review the financial statements and ask any questions.

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Bench Accounting has received an 8.3-star rating on Trustpilot, indicating a high level of satisfaction among clients.

The company's professionalism and thoroughness are praised by many clients, who appreciate their trustworthy service. They have a clean and easy-to-use interface, making it simple to submit expenses and review accounts.

However, some clients have experienced issues with the transition of bookkeepers, which can lead to mistakes and frustration. They have also reported slow response times and difficulty reaching the support team.

The monthly service fee of $345 can be a drawback for some, especially if clients need to spend additional time correcting errors. On the other hand, the included monthly call with the customer rep is a valuable feature that many clients appreciate.

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People are generally happy with Bench Accounting, with an 8.3-star rating on Trustpilot. Some clients praise the company for being professional and trustworthy.

Many users appreciate the ease of use, with one reviewer noting that the interface is clean and easy to navigate. They also like the automated expense submission feature.

Some clients appreciate the personal touch, with one reviewer mentioning that they like the monthly calls with their team, which is included in the service fee. Another reviewer praises the responsiveness of their team.

However, not everyone has a positive experience, with one reviewer mentioning that the transition to a new bookkeeper was terrible, resulting in errors and unresponsiveness.

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When working with QuickBooks, you'll appreciate the good service and support for clients. However, some clients have complained that it can take days to hear a response.

The software generates quick and accurate reports that are user-friendly, with interactive financial statements sent out each month. These reports will help you stay on top of your company's finances.

Each client is assigned a dedicated bookkeeper, which ensures a more accurate approach to your company's finances. This bookkeeper will manage your invoices, receivables, and other financial tasks.

Some clients have complained that bookkeepers change frequently, but overall, this dedicated support is a valuable asset.

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Some integrations with other services can be a bit glitchy. This can lead to frustration when trying to get everything to work smoothly.

The hands-off approach of our accounting services can be a double-edged sword. While it's great to have experts handle your finances, it also means you can't easily make changes to your data if needed. This can be a problem if you want to re-categorize your expenses or make other adjustments.

Assigned bookkeepers can change frequently, which can be a hassle for clients who need to keep explaining their financial situation to new people.

For small businesses, our services may be too expensive. This can be a barrier for those who are just starting out or have limited budgets.

Here are some of the specific cons of our accounting services:

Bench Accounting offers a range of features to help small business owners manage their finances. You'll have access to 1099 reporting, which categorizes transactions by date, details, and payee name, making it easier to process with the IRS.

Bench also provides access to the IRS forms you need to file, giving you everything you need to file on time. I've found that this feature is especially helpful when it comes to staying organized and meeting deadlines.

The platform integrates with several third-party apps, including Stripe, Square, and PayPal, making it easy to manage your finances in one place. You can also use Bench's cash flow management tool, Pulse, to get a clear picture of your business's financial health.

Here are the pricing options for Bench:

In addition to these features, Bench offers historical and monthly bookkeeping, cash flow and expense tracking, and financial reporting. Your bookkeeping team will categorize your transactions, reconcile your bank accounts, and prepare financial statements, all within 15 business days.

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Bench offers 1099 reporting with year-round reports available, making it easier to process with the IRS when the time comes.

Bench is available on desktop and iOS mobile app, giving you flexibility to manage your finances on the go.

Bench's core product is online bookkeeping software paired with in-house bookkeepers, providing expert help with financial tasks.

Historical and monthly bookkeeping, cash flow and expense tracking, and financial reporting are all part of Bench's services.

Bench integrates with several third-party apps, including Stripe, Square, and PayPal, making it easy to connect your accounts.

Bench launched a new cash flow management tool called Pulse in June 2019, helping you stay on top of your finances.

BenchTax, launched in partnership with Taxfyle in August 2019, provides tax preparation and filing for clients.

If you need help with payroll, Bench will advise you to use Gusto, and you'll even get a 30% discount on their services.

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Bench offers two pricing plans: Essential and Premium. The Essential plan costs $249/month (billed annually) or $299/month (billed monthly), while the Premium plan costs $399/month (billed annually) or $499/month (billed monthly).

The Premium plan includes all the features of the Essential plan, plus annual income tax filing and tax support. This makes it a great option for businesses that need help with tax filing.

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You can choose to pay month-to-month or commit to an annual contract. If you commit to an annual contract, you'll get a discount on your monthly price.

Here's a summary of the pricing plans:

Bench's pricing is competitive and doesn't change based on your business's annual revenue. This is a big advantage over other companies that increase their pricing as your business grows.

Bench Accounting takes care of your bookkeeping for you, categorizing all your transactions, reconciling your bank accounts, and preparing financial statements. This process is completed within 15 business days once you've sent all the necessary documents.

Bench employees work on your bookkeeping, not just software tools. Each month, a team of three in-house Bench employees will handle your bookkeeping.

You'll receive a message when your bookkeeping is done for the month, and you can view your financial statements and account information online.

Bench offers unlimited customer support, which is a rarity in the industry.

Their customer support team is highly persistent and will keep trying to reach you until you answer. I was impressed by how they followed up with me after the first call.

Navigating the service's self-help features can be a bit tricky, but there are several ways to get support. You can message your bookkeeper directly from your account dashboard.

If you need more detailed information, you can click the "More Details" button to access additional support materials and FAQs. I found the live chat feature to be very helpful, with a human responding to my inquiry in under 2 minutes.

You can also access more resources and the live chat button from the website's footer, even if you're not logged into your account. This makes it easy to get support from anywhere.

Bench bookkeepers are available Monday through Friday during normal business hours PST, and they'll reply to your messages within one business day.

Bench Accounting offers unlimited customer support, which is a game-changer for businesses.

You can send a message to your Bench team from your computer or the app at any time, and your bookkeeper will reply within one business day.

Their bookkeepers are available Monday through Friday during "normal business hours PST", according to Bench's website.

You'll also get a phone call from an account onboarding specialist within a few minutes of signing up, to schedule your demo.

If you can't answer the first call, they'll call back a couple of times until you connect with them.

Navigating to the service's self-help features can be a bit tricky, but there's a live chat feature that's accessible from the homepage.

Clicking the "Ask a Question" button will take you to your Messages inbox, where you can ask your question and get a response from a human named Kris in under 2 minutes.

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You can also access more support materials and FAQs by clicking the "More Details" button.

If you're not logged into your Bench account, you can still get support by visiting the site's footer, where you'll find more resources and the live chat button.

Bench has a clear commitment to serving their new customers, as evidenced by their persistence in reaching out to you.

Bench Accounting offers basic financial reporting, including an income statement and a balance sheet.

You can find your Profit and Loss statement and Top Expenses in the Overview tab.

The income statement provides more detail on your P&L, making it easy to understand your financial performance.

Bench's proprietary software doesn't integrate with other accounting systems like Quickbooks.

Connecting your bank accounts, credit card accounts, and a few merchant accounts is a straightforward process that can be completed in a few clicks.

Bank reconciliation is a crucial part of financial management, and Bench makes it relatively easy to do so.

Bench uses Plaid to link your bank accounts and credit cards, automatically pulling up a range of well-known banking institutions, including Chase, Bank of America, and Wells Fargo.

You can search for your institution if you don't see it in the list, and after selecting your bank or credit card issuer, you must enter your account login information and choose the accounts you want to share with Bench.

Your login information isn't stored, so everything is secure.

It took a while for the machines to do their thing, but Bench was able to pull in all my accounts, and I could mark which accounts I used for business and which I did not.

You also have the option to add your bank statements to serve as a backup method for reconciling accounts, but I chose to skip this step since everything in the automatic connection looked good.

Bench integrates with Stripe accounts, Square accounts, and Shopify accounts, so you'll need to use one of these merchant processors if you want to take advantage of automatic transactions from the start.

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I tested it with Stripe, and it worked well, but as with my bank account, it did take some time to pull in all the information and categorize it.

Be patient and double-check everything's accuracy, especially if you're connecting a personal checking account that you use for business purposes because you're a sole proprietor.

Financial reporting is a crucial aspect of financial management. You can get a basic sense of your financial situation with Bench, which offers an income statement and a balance sheet.

Bench's financial reporting includes a Profit and Loss statement and Top Expenses in the Overview tab.

If you need more detail on your P&L, you can click on your income statement for more information.

Bench charges $249/month for the Essentials plan if you pay for the year upfront.

If you choose the Premium plan with monthly billing, the cost is $399/month.

Paying annually for the Premium plan will cost you $499/month.

Accrual adjustments cost extra, which can be a significant consideration for small businesses. Bench offers accrual adjustments, but they start at an extra $100 per month.

Small businesses don't have to use accrual basis accounting, but it typically provides more accurate insight into your finances than cash basis accounting does.

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Bench Accounting's acquisition and closure were announced in a surprise move. On December 27, 2024, Bench emailed its customers and posted a notice on its website stating that the platform would be immediately inaccessible.

The company's website was shut down, leaving customers without access to their accounts. This sudden closure caught many users off guard.

On December 30, it was announced that the company would be acquired by the HR technology firm Employer.com. This acquisition marked the end of Bench Accounting as a standalone platform.

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Bench Accounting offers two pricing tiers: Bookkeeping and Bookkeeping & Tax.

The Bookkeeping plan costs $299/month if billed annually, or $349/month if billed monthly.

The Bookkeeping & Tax plan is available for $599/month if billed annually, or $699/month if billed monthly.

Bench also offers a 25% savings for paying in full up front, but this may be difficult for most startups to take advantage of.

Pricing varies based on whether you bill month-to-month or commit to an annual contract.

Here's a breakdown of the pricing plans:

Bench's pricing is competitive and doesn't change based on your business's annual revenue, unlike some other companies that adjust pricing upward as your business grows.

If you're not sure Bench is the right solution for you, consider these alternatives.

Wave Accounting offers similar features to Bench, including expense tracking and invoicing.

Zoho Books is another option, providing a range of accounting tools and integrations with other Zoho apps.

QuickBooks is a well-established accounting platform that offers a variety of features, including invoicing and financial reporting.

Xero is a cloud-based accounting system that provides features such as invoicing, expense tracking, and bank reconciliations.

Each of these alternatives can help you manage your finances, but it's worth exploring which one best suits your needs.

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Bench Accounting has received significant funding to support its growth and expansion. The company launched with a $2 million seed round in 2013.

Bench has secured a total of over $100 million in funding as of December 2024, with its most recent round being $60 million in Series C funding led by Contour Venture Partners in 2021. This funding has allowed the company to expand its offerings to include integrated banking services.

Bench's funding milestones include a $7 million Series A funding in 2015, a $16 million Series B funding in 2016, and an $18 million Series B-1 funding in 2018, all of which have contributed to the company's growth and development.

Bench launched with a $2 million seed round in 2013.

The company's early funding was a crucial step in its growth, providing a solid foundation for future investments.

In 2014, Bench raised an additional $1 million from VCs and angel investors, further boosting its financial resources.

This influx of capital helped the company expand its offerings and build a strong team.

By 2015, Bench had secured $7 million in Series A funding, led by Altos Ventures and Contour Venture Partners.

The company's Series A funding marked a significant milestone in its development, enabling it to scale its operations and reach new customers.

In 2016, Bench raised $16 million in Series B funding, led by Bain Capital Ventures, with participation from existing investors Altos Ventures and Contour Venture Partners.

This substantial investment allowed the company to further develop its products and services.

The company's Series B funding also paved the way for future growth, including a subsequent $18 million Series B-1 funding in 2018.

Led by iNovia Capital, this funding round brought in new investors and further solidified Bench's position in the market.

In 2021, Bench secured $60 million in Series C funding, led by Contour Venture Partners, which enabled the company to expand its offerings to include integrated banking services.

This significant investment marked a major turning point for the company, allowing it to diversify its products and reach new customers.

By December 2024, Bench's total funding had exceeded $100 million, a testament to the company's successful fundraising efforts.

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