When you run a business, you don’t just need to worry about the goals and activities that concern your sales or service providers. There are also a lot of additional aspects that you need to take care of, and one of the most important ones is accounting.
Whether you hire an external accountant or you want to do it yourself, keeping track of every income and expense is your responsibility. Luckily enough, there is accounting software today that can make the bookkeeping and accounting process a lot easier.
In this article, we’d like to compare two of the most popular accounting software options: Bench and Quickbooks. We’re going to go through their features and value for the money, and we’ll also try to understand which one is more suitable for you, or if you should be considering a third alternative.
Without further delay, let’s dig deep into our Bench VS Quickbooks comparison.
Bench is more than a simple accounting software that can help you manage your bookkeeping and accounting processes: it is an accounting service that provides proprietary software and also a team of professional accountants to assist you and your business.
Bench is therefore both an accounting software and a bookkeeping online service.
When you subscribe to Bench services, you are assigned a dedicated bookkeeper. It’s no different from hiring a bookkeeper online or in person, but with Bench you also get access to a fully-working bookkeeping platform.
You can connect multiple financial accounts: bank accounts, credit cards, loans…
You can generate financial reports at any moment and periodically. Financial reports include income statements, balance sheets, and more…
You can receive tax-specific support, including tax filings.
The dashboard allows you to track your cash flow constantly.
Bench offers three plans. These prices include both access to accounting software and professional bookkeeper assistance.
Pro Plan: $449 per month, billed annually.
While Bench is an accounting service that also provides proprietary software to their clients, Quickbooks is strictly an accounting software, even though you can get access to some assistance through this platform too.
Quickbooks is a web app: you don’t need to download and install it on your computer but instead you can access it through your browser from any location as long as you have access to an Internet connection (and from any device).
You can connect Quickbooks to your business bank account so that it will automatically import transactions.
The transactions are not only registered but also automatically sorted into tax categories.
This platform can also become the place where you store all your receipts.
You can run general reports for profit and loss statements, expenses, balance sheets, and more…
Quickbooks Live is an additional feature that you need to pay for, giving you access to a professional bookkeeper that you can contact through live chat.
The premium plans give access to some very advanced features like:
Because Quickbooks doesn’t provide professional accounting assistance, the prices for this software are a lot lower than Bench’s. In particular, there are four plans available:
Now that you understand what Bench and Quickbooks are, let’s move on to discuss which one is more suitable for your needs.
As you’ve probably already noticed, the main difference between Bench and Quickbooks relies on the presence – for Bench – of professional assistance. This is also what makes Bench far more expensive than Quickbooks.
So, who should pick Bench? Bench can be considered as an alternative to the classic practice of hiring a professional accountant. The accounting service is enhanced thanks to the accounting software that is also provided with all plans.
Therefore, if you need to hire a professional accountant to manage your business’s bookkeeping process, then Bench can be the most valid choice.
Hiring an accountant is not mandatory and not every business needs one. Private professionals and small businesses, for example, don’t need a professional accountant. For them, subscribing to Bench’s services would be too expensive and result in a waste of money.
For them, Quickbooks is the most valid choice because it provides the software they need to take care of their accounting and bookkeeping processes on their own in an affordable way.
If you are a complete beginner or if you like simple and user-friendly tools that every member of your team can use without difficulties, then neither Bench nor Quickbooks would be your best choice.
There is an alternative that provides an even more user-friendly interface and that you can learn how to use in half a day: it’s called Less Accounting software. Other than its simplicity, many business owners and managers are picking this alternative over the previous two because of the affordable price that includes professional assistance for their clients.
In a way, Less Accounting is the middle way between Bench and Quickbooks: an affordable and simple platform that you can use even if you have zero previous experience with this kind of software, since it also allows you to receive professional assistance when needed.