When Bench.co abruptly shut down on December 27, 2024, over 35,000 small businesses lost access to their bookkeeping platform overnight. Although Employer.com later acquired Bench and temporarily restored data access, many business owners decided it was time to move to a more established accounting platform. Xero has emerged as one of the most popular destinations for former Bench customers, offering robust features, strong third-party integrations, and the reliability of a publicly traded company.

Whether you have already exported your Bench data or are still deciding on your next bookkeeping solution, this guide walks you through everything you need to know about migrating from Bench to Xero.

Why Former Bench Customers Are Choosing Xero

The Bench shutdown highlighted a risk that many small business owners had not considered: what happens when your bookkeeping provider disappears? Xero addresses several of the concerns that the Bench closure raised.

Xero is a publicly traded company with millions of subscribers worldwide, which provides a level of financial stability that a venture-backed startup could not guarantee. Unlike Bench’s proprietary system, Xero stores your data in an open format that you can export at any time. The platform integrates with over 1,000 third-party apps including payment processors, inventory tools, and CRM systems. And because Xero is a self-service platform, you maintain full control of your books while still being able to grant access to an external bookkeeper or accountant.

For businesses that relied on Bench’s done-for-you model, the transition to Xero can be paired with an outsourced bookkeeping service that handles the day-to-day work within Xero on your behalf.

Before You Begin: Gathering Your Bench Data

If you have not already downloaded your financial records from Bench, time may be limited. Employer.com provided access to Bench data through early 2025, but that window has since closed for most accounts. If you still have copies of your exported data, locate the following files before starting your migration:

Your general ledger or chart of accounts export, typically in CSV or Excel format. Bank transaction history for all connected accounts. Any year-end financial statements, including profit and loss reports and balance sheets. Copies of receipts and supporting documents you uploaded to Bench. Previous tax returns or tax packages that Bench prepared on your behalf.

If you no longer have access to your Bench data, your bank and credit card statements can serve as the foundation for rebuilding your books in Xero. A professional bookkeeper can help reconstruct your records from these primary source documents.

Step 1: Set Up Your Xero Account

Start by creating a Xero account and selecting the plan that fits your business. Xero offers three tiers—Starter, Standard, and Premium—with pricing based on the number of invoices, bills, and bank connections you need. Most small businesses migrating from Bench find that the Standard plan provides comparable functionality.

During setup, configure your company details including your legal business name, tax identification number, fiscal year end, and base currency. Set your chart of accounts to match the categories you used in Bench as closely as possible. Xero includes a default chart of accounts that works well for most small businesses, but you can customize it to mirror your Bench setup for consistency in your historical reporting.

Step 2: Connect Your Bank Accounts

One of Xero’s strongest features is its automatic bank feed system. Connect each of your business bank accounts and credit cards directly to Xero. The platform supports direct feeds from most major banks, which means transactions flow into Xero automatically each day.

Once connected, Xero will begin importing recent transactions. Depending on your bank, you may receive up to 12 months of historical transactions through the direct feed. For older data, you can manually import the CSV files you exported from Bench.

Step 3: Import Your Historical Data

Use Xero’s import tools to upload your Bench data files. Navigate to the Accounting menu, select your target area such as the chart of accounts or bank transactions, and follow the import wizard to map your CSV columns to Xero’s fields.

Pay close attention to date formats, as mismatches are the most common source of import errors. Xero expects dates in the format set during your account configuration. If your Bench exports use a different format, adjust them in your spreadsheet before importing.

For businesses with complex data—multiple bank accounts, foreign currency transactions, or inventory—consider importing in stages rather than all at once. This makes it easier to verify accuracy at each step.

Step 4: Reconcile Your Accounts

After importing, reconcile your accounts by matching the imported transactions against your bank statements. Xero’s reconciliation tool suggests matches automatically, which speeds up the process significantly. Review each suggested match carefully, paying attention to amounts, dates, and descriptions.

Compare your Xero balances against the last known good balances from your Bench records or your most recent bank statements. Any discrepancies should be investigated and resolved before you begin using Xero for ongoing bookkeeping. Common issues include duplicate transactions from overlapping imports and miscategorized expenses.

Step 5: Customize Your Workflow

With your data imported and reconciled, take time to set up the features that will make Xero work for your business going forward. Configure invoice templates with your branding. Set up recurring invoices for regular clients. Connect the third-party apps your business relies on, such as payment processors like Stripe or PayPal, expense tracking tools, or your e-commerce platform.

If you used Bench’s tax preparation service, you will need to establish a relationship with a tax professional who can access your Xero data. Xero makes it easy to invite your accountant or tax preparer as a user with appropriate access permissions.

Common Migration Challenges and How to Solve Them

The most frequent issue former Bench customers encounter is incomplete data exports. Bench’s proprietary system did not always export data in clean, standardized formats, which can make mapping to Xero’s fields more complex. If your exports contain merged cells, inconsistent categories, or missing date fields, cleaning the data in a spreadsheet before importing saves significant time.

Another common challenge is reconciling the transition period—the weeks or months between when you stopped using Bench and when you started using Xero. During this gap, transactions may not have been categorized or reconciled. Working with a professional bookkeeping service to catch up on this backlog ensures your records are complete and accurate.

When to Consider Professional Help

While Xero is designed to be user-friendly, migrating an entire bookkeeping history from one platform to another involves nuances that can trip up business owners who are not accounting professionals. If any of the following apply to you, working with an experienced bookkeeper can save hours of frustration and prevent costly errors:

Your business has more than two years of historical data to migrate. You have multiple bank accounts, credit cards, or payment processors. Your Bench data exports are incomplete or poorly formatted. You need to file back taxes using data from your Bench account. You operate in an industry with specialized bookkeeping requirements such as construction, property management, or restaurant management.

How Maxim Liberty Can Help

At Maxim Liberty, we have helped numerous former Bench customers transition to Xero and other accounting platforms. Our team handles the entire migration process—from data cleanup and import to reconciliation and ongoing bookkeeping—so you can focus on running your business instead of learning a new software platform.

We offer the same done-for-you bookkeeping model that Bench provided, but with the added security of working with an established firm that has served U.S. and Canadian businesses since 2005. Contact us today to discuss your migration needs.

Frequently Asked Questions

Can I still access my data from Bench after the shutdown?

Employer.com acquired Bench in late December 2024 and temporarily restored data access. However, the data download window closed in early 2025 for most accounts. If you did not export your data during that period, your bank and credit card statements can be used to reconstruct your books.

How long does the migration from Bench to Xero take?

For a small business with one or two bank accounts and a few years of history, the migration typically takes one to two weeks when handled by a professional. DIY migrations may take longer depending on the complexity of your data and your familiarity with Xero.

Is Xero the only alternative to Bench?

No. QuickBooks Online is another popular option for former Bench customers. The best choice depends on your business needs, budget, and whether you prefer a self-service platform or a done-for-you bookkeeping model. Many businesses pair Xero or QuickBooks with an outsourced bookkeeping service for a similar experience to what Bench provided.

Will my historical financial reports look the same in Xero?

Your financial reports in Xero will contain the same underlying data, but the formatting and presentation will differ from Bench’s reports. Xero offers extensive report customization, so you can adjust layouts and categories to match your preferences once your data is imported.