{"id":28626,"date":"2025-01-06T17:19:15","date_gmt":"2025-01-06T17:19:15","guid":{"rendered":"https:\/\/synder.com\/blog\/?p=28626"},"modified":"2025-01-06T17:19:18","modified_gmt":"2025-01-06T17:19:18","slug":"bench-accounting-alternatives","status":"publish","type":"post","link":"https:\/\/synder.com\/blog\/bench-accounting-alternatives\/","title":{"rendered":"Bench Accounting Alternatives: Choose the Best Bench Alternative ASAP"},"content":{"rendered":"\n

Unexpected problems are never easy and when they hit your business, your response and timing often define if you make it or break it. On December 27th, Bench shocked the business world with an abrupt closure, leaving over 12,000 U.S. businesses scrambling to access their critical accounting and tax records. <\/p>\n\n\n\n

Bench as you knew it? No more.<\/strong> While it’s not really gone, the chaos speaks volumes. Now under Employer.com<\/a>, Bench is working to steady the ship and restore operations\u2014but will it sail smoothly or sink further? Only time will tell. In the meantime, a smart backup plan, like switching to a reliable, user-friendly solution, is your safest bet.<\/p>\n\n\n\n

As frustrating as it is, it\u2019s also your chance to level up. That\u2019s why we\u2019ve handpicked the best Bench accounting alternatives to turn this chaos into an opportunity. We will break them down one by one and find the perfect solution for your business. But first, let’s talk about what you\u2019ll need for a smooth transfer.<\/p>\n\n\n\n

Bench let you down? Here\u2019s how to bounce<\/strong><\/h2>\n\n\n\n

Here are the essentials you need to smoothly switch your company to a new accounting software:<\/p>\n\n\n\n

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  1. Trial balance: <\/strong>The backbone of your books, ensuring debits and credits are balanced for a smooth transfer.<\/li>\n\n\n\n
  2. Balance sheet<\/strong><\/a>: Your financial snapshot\u2014assets, liabilities, and equity all in one place, ready for the new system.<\/li>\n\n\n\n
  3. Income statement (<\/strong>P&L statement<\/strong><\/a>): <\/strong>Tracks revenue, expenses, and net income, making sure your profitability history stays intact.<\/li>\n\n\n\n
  4. General ledger: <\/strong>The hub of all transactions\u2014transferring it ensures no data gets left behind.<\/li>\n\n\n\n
  5. AR and AP details<\/strong>: Know what customers owe you, so no payments slip through the cracks (AR) and stay on top of vendor payments to avoid disruptions or late fees (AP).<\/li>\n\n\n\n
  6. Bank and credit card reconciliations: <\/strong>Matches your records with statements to catch discrepancies and keep data accurate.<\/li>\n<\/ol>\n\n\n\n