Finding the right bookkeeping service can be a challenge for most small businesses. Here are just a few areas an average small business needs their accounting service to handle: bookkeeping, catch-up services, monthly reporting, and organizing everything in preparation for tax season. Each bookkeeping service currently on the market today offers unique specialization, allowing them to focus their talents on specific industries or agencies. With that in mind, let’s compare the different aspects of Bench vs AccountsBalance to help you determine which option is right for you.
Bench vs AccountsBalance 2023 Comparison
Bench is a bookkeeping service geared toward small businesses by offering a dedicated bookkeeper for your business, review calls to check in with your bookkeeper, financial statements, monthly reports, and taxes with a user-friendly platform and proprietary software. With Bench, there are other small business tools integrated into their platform, making it easy for you to share information, such as daily sales, with your bookkeeper. They also offer Catch Up Bookkeeping for businesses that have gotten behind in their bookkeeping or filing their taxes.
AccountsBalance also offers bookkeeping services, giving their clients the benefit of years of experience in bookkeeping and accounting for SAAS, agencies, and service providers, regardless of the size of their business. They also provide a dedicated online bookkeeping team, allowing you to build a relationship with your team as your business grows. Your books are completed on time every month, giving you the ability to see where your business is financially right now. They can easily transfer information to your CPA to get your taxes completed accurately and provide year-end tax-ready financial statements. With fast support via email, text, or video calls, AccountsBalance provides bookkeeping services with strong and efficient processes in place to manage the finances of your business as it grows.
Bench vs AccountsBalance Overview
| Bench |
AccountsBalance
|
|
| Who’s It Best For? | Small businesses and freelancers |
SAAS, agencies, & service providers.
|
| Monthly Pricing | Starts at $199 monthly with an annual contract |
Starts at $299/mo
|
| Clean Up Services | Yes, at one time cost. |
Yes, one time cost.
|
| Catch Up Services | Yes, at one time cost. |
Yes, one time cost.
|
| Account Reconciliation | Yes, monthly | Yes, monthly. |
| AR & AP Work | $100 per month | Not at this time. |
| Tax Services | Yes, as part of their Premium package. | Not at this time. |
| CFO Services | Not at this time. | Not at this time. |
| Dedicated Bookkeeper | Yes | Yes |
| Reviews | 4.1 Stars | 5 stars |
| Website | Visit | Visit |
Who Should Use Bench and AccountsBalance?
Bench is ideal for freelancers and small businesses that are looking for regular monthly bookkeeping and tax filing services. Their platform is simple to use and allows for integration with most payment systems. They also offer catch-up and Bench Retro, both aimed at getting your bookkeeping caught up within a few weeks to a month. For small business owners that don’t have time to focus on bookkeeping or freelancers who already have a lot on their plate, Bench can handle many of these repetitive tasks with ease.
AccountsBalance is geared toward SAAS, agencies, and service providers, with efficient and strong processes in place to meet your needs. They also provide monthly bookkeeping services, but they also utilize a variety of software options, making it easy for you to transition as your business grows. Additionally, pricing is geared toward the size of your business and the number of transactions you are processing. That means they can grow with your business, meeting your bookkeeping needs as they become more complex.
Bench vs AccountsBalance Pricing
While both Bench and AccountsBalance offer many similar features, their pricing can be tailored to fit the needs of your business. Each offers monthly payment plans, but Bench also offers a discount with an annual plan.
| Bench |
AccountsBalance
|
|
| Monthly Pricing | Starts at $199 monthly for a basic plan with an annual contract and $299 for a premium plan. Offer one month free. |
Starts at $299/mo. Based on size and complexity of business.
|
| Catch Up Work | $299 with Catch-Up |
Get a pricing quote w/in 1 business day.
|
| Clean Up Work | Get a pricing quote with Bench Retro |
Get a pricing quote w/in 1 business day.
|
| Set Up | No cost |
$499 for new QBO or Xero account
|
| Invoicing | Not at this time. | Not at this time. |
| AP & AR | Available for $100 monthly | Not at this time. |
| Tax Services | Available as part of Premium package | Not at this time. |
| Free Trial | Yes, 1st month is free. |
Yes, 1st month free.
|
| Pricing Details | Bench Pricing |
Bench vs AccountsBalance Features
While both services offer a variety of similar features, there are some differences that can impact which service is the right fit for your business, particularly as it relates to tax services and accounts receivable.
| Bench |
AccountsBalance
|
|
| Dedicated Bookkeeper | Yes | Yes |
| Controller Oversight | Yes | Yes |
| Connect Bank Accounts | Yes | Yes |
| Categorize Transactions | Yes | Yes |
| Pay Bills | Not at this time. | Not at this time. |
| Invoice Customers | Not at this time. | Not at this time. |
| Account Reconciliation | Yes | Yes |
| Tax Consulting | Yes | Not at this time. |
| Tax Filing | Yes | Not at this time. |
| CFO Services | Not at this time. | Not at this time. |
| Income Statement | Yes | Yes |
| Balance Sheet | Yes | Yes |
| Cash Flow Statement | Yes | Yes |
| Reports Delivered By | Within 15 days after monthly information is submitted | 15th monthly |
| Catch Up Services | Yes, for a fixed cost. |
Yes, for fixed cost.
|
| Clean Up Services | Yes, for a fixed cost. |
Yes, for fixed cost.
|
| Payroll Services | Not at this time. | Not at this time. |
| International Support | No | Yes |
| Support | Yes, responses in 1 biz day |
Yes, responses in 1 biz day
|
Bench vs AccountsBalance Software
Bench uses proprietary software, which is not compatible with Quickbooks Online or Xero. If you are looking to transition to different software as your business grows, it can be difficult. However, they do allow for historical data to be downloaded into Excel spreadsheets, which can be uploaded into different software. AccountsBalance is compatible with Quickbooks Online and Xero, making it easy for you to transition to another software as your business grows or needs to add other features.
Bench vs AccountsBalance Customer Support
As a business owner, you understand why quality customer support is so critical to long-term customer retention. Being able to solve problems for your clients quickly and with solutions that meet their needs is essential, but even more so when it comes to your bookkeeping and accounting services. Both Bench and AccountsBalance offer quality support services geared to meet their clients’ needs effectively, especially when they have questions or concerns. Your time is money, and quality support respects your time by offering prompt replies and transparency.
| Bench |
AccountsBalance
|
|
| Unlimited Support | Yes | Yes |
| Community Support | Yes | Yes |
| Email Support | Yes | Yes |
| Text Support | Yes | Yes |
| Live Chat Support | Yes | Not at this time |
| Phone Support | Yes | Yes |
|
Searchable Knowledgebase
|
Yes, on their blog. |
Yes, on their blog.
|
| Online Help Resources | Yes, on their blog. |
Yes, on their blog.
|
| Responses Within | 1 business day | 1 business day |
Frequently Asked Questions (FAQs)
1. Which is better for online businesses?
AccountsBalance is better for online businesses, as it is compatible with various software while also providing features for a growing business.
2. What should I consider when hiring a bookkeeper online?
Before hiring a bookkeeper online, it is important to know what tasks you want them to handle and what tasks you want to keep in-house. That can assist you in determining if a bookkeeping service offers the features you want and need for your business, both now and in the future.
3. What’s different between a freelance bookkeeper and these bookkeeping companies?
A freelance bookkeeper can focus solely on your business, but they are limited by experience and the level of support they can offer. Plus, if they are ill, then your bookkeeping can fall behind. These bookkeeping companies offer a high level of support, along with a team that can keep your bookkeeping on track as they get to know your business.
4. How much does an online bookkeeping cost on average?
An online bookkeeping service can average around $200 to $300 per month, but this cost can increase as your number of transactions goes up or if you require additional services for your business.
What Is AccountsBalance?
AccountsBalance is a monthly bookkeeping service specialized for agencies & SAAS companies.
We take monthly bookkeeping off your plate and deliver you your financial statements by the 15th or 20th of each month.
You’ll have your Profit and Loss Statement, Balance Sheet, and Cash Flow Statement ready for analysis each month so you and your business partners can make better business decisions.
Interested in learning more? Schedule a call with our CEO, Nathan Hirsch.
And here’s some free resources:
In Summary
Bench offers a personalized experience for freelancers and small business owners who want to limit the amount of bookkeeping they have to handle. However, as your business grows, Bench might no longer be the right fit, and you will likely have to pay another service to take your historical data and input it into your new accounting software. AccountsBalance is built on strong and efficient processes with the goal of growing with your business. They focus on SAAS, agencies, and entrepreneurs, providing the bookkeeping services necessary to keep your business on track.
