By the time they are ready, the information will become outdated and not useful for decision-making. Tax laws are constantly changing, and failing to keep up with them can lead to penalties and fines for businesses. However, these bookkeeping platforms help businesses stay updated with changing tax laws, making it easier to file accurate and timely tax returns. Service-based business owners and freelancers may want accounting apps that let them send estimates, quotes, and invoices. It’s also convenient to snap and send photos of receipts or other financial documents, view key financial metrics, and track time or miles.
1-800 Accountant
This ensures that our clients receive accurate and relevant information that helps them make informed decisions about growing their business. Xero has a tiered pricing model that may be more appealing to businesses with varying needs or just more control over the features they pay for. Their basic plan starts at just $15/month and goes up to $78/month, depending on the features you select.
Cost-Effective Solution
- Compare features, ratings, user reviews, pricing, and more from Bench Accounting competitors and alternatives in order to make an informed decision for your business.
- 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.
- This list of the best accounting software outlines each provider’s bookkeeping features, customer support, and cost.
- This not only saves time but also reduces the chances of errors significantly, making it a more cost-effective option in the long run.
If you’re a freelancer or solopreneur who wants to keep track of your billables and stay on top of your income, FreshBooks has all of the bookkeeping power you need. It has everything covered, from the moment you start a project to the time you get paid. Designed for business owners, CO— is a site that connects like minds and delivers actionable insights for next-level growth. However, before making any business decision, you should consult a professional who can advise you based on your individual situation.
Whether you prefer hands-on support or a DIY approach, here are the key factors to consider to make an informed choice.
Some clients have complained that it takes a long time to connect with a human at Bench. While this might work well for some businesses, others may prefer having a dedicated accountant who can provide personalized support and advice tailored to their specific financial needs. Most platforms offer expert support from certified bookkeepers to keep your books in order. This can be beneficial for small businesses that do not have the resources to hire a full-time accountant but still need professional guidance in managing their finances. Bookkeeping platforms automate mundane bookkeeping tasks such as recording transactions, generating reports, and tracking expenses. This not only saves time but also reduces the chances of human error in accounting processes.
What is the best bookkeeping tool for small businesses?
Wave and Xendoo are great choices for businesses on a budget, offering essential bookkeeping services at competitive prices. Pilot is an accounting service designed for startups and small businesses offering bookkeeping, tax preparation, and CFO services, all managed by experienced accountants powered by proprietary software. QuickBooks Live is an online bookkeeping service that connects small businesses with trusted, QuickBooks-certified virtual bookkeepers. If you want small business accounting software for handling taxes, look for solutions that provide IRS tax forms and tax-specific reports.
Bookkeeping and Taxes: When Is It Time to Stop DIY?
Our best expert advice on how to grow your business — from attracting new customers to keeping existing customers happy and having the capital to do it. However, like Xero and QuickBooks, Zoho might be too unwieldy for smaller businesses that plan to stay small. Follow these steps to ensure a seamless migration and set your business up for success with your new bookkeeping solution. For a more detailed comparison of Pilot and Bench features, pricing, and reviews, check out this Pilot vs Bench comparison.
Expert Support
Make sure to read both the pros and cons to get a realistic view of the software in regular use. One of the best alternatives to Bench, doola Bookkeeping is an all-in-one solution that handles your back-office needs, including bookkeeping, accounting and tax filings. So you get more time to concentrate on scaling your business instead of being buried under endless paperwork. Instead of providing real-time updates like most accounting software, Bench finalizes books for a given month at least a month later.
BookKeeping Express
- We understand that every business has different financial requirements and, therefore, tailor our services accordingly.
- This means no vendor lock-in, no data accessibility concerns, and no unpleasant surprises.
- It’s also convenient to snap and send photos of receipts or other financial documents, view key financial metrics, and track time or miles.
- 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.
- Unify your business back office with doola—an all-in-one platform that handles LLC Formation, Bookkeeping, Taxes, and E-commerce Analytics.
This frees up enterprises to concentrate on their main company activities rather than handling financial record-keeping. After evaluating and comparing the various competitors, it is evident that doola Bookkeeping stands out among all of the best bench alternatives. Unlike other competitors who offer generic bookkeeping services, we have taken a bench accounting competitors personalized approach.
Evaluate small business accounting services to find the right solution for tracking money, analyzing profitability, and organizing financial transactions for tax time. The best accounting software offers affordable pricing tiers and has a clean, user-friendly layout. Additionally, several options provide free accounting apps for startups and freelancers with advanced versions available as your company grows. While some providers focus solely on basic bookkeeping or transactional tasks, CoCountant handles your financial operations end-to-end. Businesses can choose between cash-basis or accrual-basis accounting, with services customized to meet their specific needs. Services include bookkeeping (cash or accrual), payroll, invoicing, bill payments, and detailed financial reporting.
With simpler bookkeeping solutions, you may need to import bank data and manually match transactions. Conversely, automated reconciliation features match bank activities to general ledger entries and flag discrepancies. Most use double-entry accounting, which complies with generally accepted accounting principles (GAAP). Explore the top small business accounting services and an in-depth guide to choosing bookkeeping software for your budget, business model, and needs. Several business owners told us that they used Wave in their business’s early stages but pivoted to another program (usually QuickBooks) when their needs increased.
Whether you want dedicated bookkeeping software to manage your books, need tax advisory and filing assistance, or have fallen behind and need to catch up, doola has you covered. This level of dedication to clients has earned us a loyal customer base and numerous positive reviews. Using manual bookkeeping methods can lead to errors, which can have serious repercussions. On the other hand, bookkeeping platforms use advanced algorithms and automation techniques that significantly reduce human error and improve data entry accuracy. While Bench Accounting offers a comprehensive bookkeeping service with a blend of intuitive software and professional assistance, there are several noteworthy alternatives depending on your business needs.
Founded in 2006, Xero has quickly gained popularity among entrepreneurs due to its user-friendly interface and advanced bookkeeping capabilities. Likewise, small business accounting software with payroll integration boosts operational efficiency and improves reporting accuracy. Many small businesses handle day-to-day accounting tasks but may hire a business accountant for advisory purposes or need professional assistance when seeking external funding or dealing with the IRS. Most small business accounting software allows accountant access, but permission levels and collaboration features vary. Compare accountant options when reviewing bookkeeping solutions, or if you work with an accountant during tax season, ask if there’s anything you should consider.
Also, factor in time and wages for backing up your files, training, and implementation. If you’ve landed here, chances are you’re already aware of the disruption Bench’s sudden shutdown caused for over 11,000 small business owners. Read reviews from verified users on third-party sites like Capterra and G2 to see how each Bench alternative stacks up in terms of features, ease of use, customer service and value for money.
This not only saves time but also reduces the chances of errors significantly, making it a more cost-effective option in the long run. Freshbooks’ pricing structure is more flexible, which makes it a better choice for businesses with varying levels of activity throughout the year. Their base plan starts at $19 per month for up to five billable clients, and their advanced Premium is priced at $60 per month for unlimited clients. While Bench Accounting is primarily for bookkeeping, it may not meet the needs of businesses that require accrual-based bookkeeping since it is much more suitable for cash-based accounting. Bench Accounting can be more expensive than its alternatives, starting at $249 per month.