Bench Accounting Review: A comparison with Maxim Liberty
In this Bench Accounting review, we look at how it compares to Maxim Liberty’s bookkeeping services. Bench provides a tech-based solution where you get a dedicated bookkeeper. However, Maxim Liberty offers more personal support and costs less. In this review, we will help you decide which bookkeeping service works best for your business.
Bench Accounting Review vs. Maxim Liberty
The Core Difference: Bench.co Software vs. Customized Service
Bench.co: Bench.co is primarily a software as a service (SaaS) company that relies on its proprietary software to handle your bookkeeping. However, you’re confined to the features available within their platform. If your needs evolve and require more advanced capabilities, you might find yourself limited. Additionally, switching to a different service can present difficulties in transferring your bookkeeping data.
Maxim Liberty: Maxim Liberty focuses solely on providing bookkeeping services, giving you the freedom to choose from industry-standard software like QuickBooks, Xero, Wave, Sage, or any other popular platform. They also support various industry-specific software, ensuring you maintain flexibility and ease of switching providers. With Maxim Liberty, your data remains yours to keep, and you’re free to take it with you if you decide to move on. They aim to retain your business because of the quality of their service, not because your data is locked into a proprietary system.
Customer Rating: 3.6 vs. 5.0
Bench Accounting Reviews
As of now, Bench.co holds a 3.6-star rating on Trustpilot, based on over 1,500 reviews. While it offers a user-friendly platform and dedicated bookkeeper services, some users have raised concerns about its pricing and service limitations.
Key Highlights:
- Ease of Use: Bench offers an intuitive interface, making it easy for business owners with little to no accounting knowledge.
- Dedicated Bookkeeper: Customers appreciate the personal touch of having a dedicated bookkeeper, making financial management less of a hassle.
Concerns Raised:
- Pricing: Starting at $249 per month, Bench is significantly more expensive compared to other bookkeeping services.
- Limited Services: Bench is primarily designed for cash-based accounting, which may not meet the needs of businesses that require more advanced accrual-based bookkeeping.
Rating:
★★★☆☆ 3.6/5 based on 1,500+ reviews.
Maxim Liberty Reviews
Maxim Liberty has consistently impressed its clients and currently holds a 5.0-star rating on Trustindex.io. Clients frequently highlight the company’s personalized services, affordability, and long-standing relationships.
Key Highlights:
- Affordability: Maxim Liberty starts at just $50 per month, a fraction of Bench’s pricing. This makes Maxim Liberty one of the most cost-effective bookkeeping services in the industry.
- Custom Solutions: Clients appreciate the ability to tailor services to their specific bookkeeping needs, including both cash-based and accrual-based accounting.
- Outstanding Customer Service: Clients rave about the responsive and personalized customer support, ensuring that every business receives attention to detail.
- A+ BBB Rating: The Better Business Bureau has given Maxim Liberty it’s highest possible A+ rating.
Rating:
★★★★★ 5.0/5 based on verified client feedback.
Service Offerings: Monthly vs. Flexible Plans
Bench Accounting services are primarily focused on downloads, reconciliation, and reporting on a “monthly” basis. There is no support for weekly or daily updates. Also, they do not focus on crucial bookkeeping services such as manual data entry, accounts payable management, accounts receivable management and sales tax filings.
Maxim Liberty services are customized to meet your needs. You can choose from monthly, weekly and even daily update plans. And from a wide variety of bookkeeping services.
Pricing: $249/mo vs. $50/mo
Bench Accounting’s $249/mo plan
Bench.co offers services that are comparable to Maxim Liberty’s most basic $50/mo starter plan. The bench.co plan includes the monthly software subscription. In Maxim Liberty’s case, the software subscription may vary from $0 to $100 per month depending on the features you need. However, you get the best bookkeeping service using the best bookkeeping software for your business. Bench.co does not offer plans to match Maxim Liberty’s $100/mo weekly update and $200/mo daily update / full service capabilities.
Maxim Liberty Plans from $50/mo
Maxim Liberty offers various bookkeeping pricing plans tailored to meet your diverse needs:
- $50 per month: Comparable services to the Bench’s $249/mo plan. The plan includes one-time catch-up or clean-up, automated and manual data entry, bank reconciliations and financial reporting on a monthly basis.
- $100 per month: Same services as $50/mo plan but with updates done on a weekly basis.
- $200 per month: Comprehensive full service plan with daily updates. In addition to all the basic services, this plan includes accounts payable management, accounts receivable management, sales tax filings, and more. The plan also includes payroll processing as long as your software includes a full-service subscription for payroll.
- $225 per month for accounting firms: Special plans to handle the multiple clients for accounting firms.
Cancellation Policy: Annual Contract vs. Cancel Any Time
With Bench Accounting, you commit to an annual contract. In contrast, Maxim Liberty offers a “cancel anytime with prorated refunds” policy. They want you to stay because you like their service, not because you’re locked into a contract. And the best part? The very first payment comes with a 100% money-back guarantee.
Summary: Why Maxim Liberty is the Best Choice for Your Bookkeeping Needs
When comparing Maxim Liberty with Bench.co, the differences become clear. Maxim Liberty charges just $50 per month, while Bench.co sets its rate at $249 per month. This price difference allows small businesses to save significantly without lowering service quality.
Small businesses seeking reliable, affordable, and highly-rated bookkeeping services often choose Maxim Liberty. The company tailors its services and offers competitive pricing, making it an excellent option for businesses that need bookkeeping support without the high cost.
Unlike Bench.co, which relies on proprietary software as a SaaS company, Maxim Liberty provides personalized service. They use popular bookkeeping software like QuickBooks, Xero, Wave, and Sage, and assign a dedicated bookkeeper to meet each business’s needs.
Maxim Liberty offers flexibility. Whether a business requires simple monthly bookkeeping or more frequent updates, there is a plan that fits. The company also offers additional services, such as payroll and tax filings.
Choosing Maxim Liberty gives businesses the flexibility, customization, and personal attention that Bench.co may not provide. The lower price reduces risks and offers greater value to businesses.
