Bench Accounting vs Merritt Bookkeeping: 2023 Comparison

The best bookkeeping service for you is the one that fits your budget, allows you to be as involved as you want to be, and meets your expectations for communication. To compare Bench vs Merritt Bookkeeping, consider your business needs. Bench provides a broader variety of services besides bookkeeping, while Merritt Bookkeeping offers a flat rate for basic bookkeeping services―no matter the size of your business.

• Bench: Best for small businesses wanting tax advice and filing services along with their bookkeeping
• Merritt: Best for small businesses looking for basic bookkeeping at the lowest price

Neither Bench nor Merritt will invoice your customers or pay your bills. For this, we recommend QuickBooks Online, our top pick for the best small business accounting software.

• QuickBooks Online: Best DIY small business accounting software

Monthly Pricing	Essentials: $249, billed annually* Premium: $399, billed annually**	Flat rate of $190
Our Overall Rubric Score	4.16 out of 5 points	2.65 out of 5 points
Accounts Receivable (A/R) & Accounts Payable (A/P) Tracking	Additional fee	N/A
Invoice Customers	N/A	N/A
Pay Bills	N/A	N/A
Segment Reporting	✓	✓
Account Reconciliation	✓	✓
Account Cleanup	Visit Bench	Visit  Merritt Bookkeeping

**Annual contract required.

Who Should Use Each

Read our guide to the best online bookkeeping services to learn about other services that might best suit your business needs.

Who Should Use an Alternative

• QuickBooks Online users: While Merritt Bookkeeping prepares your books using a QuickBooks Online account, you aren’t allowed to directly access it. Thus, if you need to issue invoices and track unpaid bills, you’ll need to use a separate software. QuickBooks Live is the best solution for QuickBooks Online users, with many useful features that will streamline the process.
• Businesses planning to scale or needing to switch providers: If you have a standard plan with Bench, you’re limited to the number of financial accounts that you can connect to your books. It also operates on proprietary software that doesn’t sync with accounting programs like QuickBooks Online. Consider Pilot if you’re looking for a solution that will scale quickly.
• Businesses that need financial planning and advice: Neither Bench nor Merritt Bookkeeping offers financial planning services like investment and business expansion. If you’re looking for an all-in-one bookkeeping provider that offers financial planning and advice, try Bookkeeper360.

Are you looking for more information about the best platforms to manage your bookkeeping? Check out our recommendations for the best small business accounting software.

Bench vs Merritt Bookkeeping: Pricing

Both of Bench’s plans include monthly bookkeeping and year-end reporting, but the higher tier offers more features, such as unlimited federal and state tax filings and tax advisory services. Bench even has several add-ons, such as invoicing (A/R) and bill payment (A/P), which are available with its specialized bookkeeping package, which starts at $100 per month.

Meanwhile, Merritt Bookkeeping’s pricing is very straightforward: a flat rate of $190 per month—regardless of the size of your business and the number of transactions, accounts, monthly expenses, and employees. You can also opt for its catch-up bookkeeping services, which run from $70 to $140 per month, depending on the number of transactions that must be entered.

So, if you would like to select from a more extensive menu of services with the ability to add on features as needed, go with Bench. But if you’re looking for a no-frills service with basic bookkeeping, then Merritt Bookkeeping is the better solution.

Bench vs Merritt Bookkeeping: Features

Bench offers various services besides basic bookkeeping, including tax preparation and filing. In contrast, Merritt Bookkeeping only offers basic bookkeeping, with no ability to customize any additional services. However, if you want to save money, it’s the better option, especially since it costs the same, regardless of your number of employees and monthly transactions.

The full menu of Bench’s services includes tax support and specialized bookkeeping. Meanwhile, Merritt Bookkeeping is a good option if you want to be more hands-off with your bookkeeping. Your bookkeeper will set up your accounts for you and handle categorizing your transactions. You can access your file through the client portal, which is also how you’ll interact with your bookkeeper, who’ll send you basic financial reports monthly.

Bench vs Merritt Bookkeeping: Ease of Use

Bench’s proprietary software allows you to track income and expenses, and you’ll find that it’s both intuitive and user-friendly. Both you and your bookkeeper can leave notes on transactions, ultimately saving time. Bench’s historical bookkeeping services let you pass on months or years of mismanaged books and recover missing documents to get you back on track. This can be beneficial if you need supporting documents to apply for loans.

Once you enroll with Bench, you’ll be assigned a team of three dedicated bookkeepers, one of which will be your account manager. They’ll learn more about your business and assist you with customizing your account to ensure accurate expense tracking. They’ll also help you connect your bank and merchant accounts so that read-only data will be imported into your Bench account automatically.

You’ll receive monthly financial statements from your bookkeeper, plus a year-end financial package. This includes all of the necessary information for your accountant to file your taxes.

Onboarding process with Bench
(Source: Bench Accounting)

While Merritt Bookkeeping is run by a small team in San Diego, it outsources the actual bookkeeping to several overseas contractors. The San Diego team serves as the point of contact, providing quality control and answering any questions that may come up. You can also reach your assigned bookkeeper by email or phone during regular business hours.

Once you enroll, an employee will assist you with setting up your bank and merchant accounts. You’ll be assigned your own dedicated bookkeeper who’ll manage your finances with QuickBooks Online, which will import read-only versions of your bank statements using LedgerSync, a free third-party software. If you don’t have a QuickBooks file, Merritt Bookkeeping will create one for you, but you won’t have personal access to your file.

Your bookkeeper will categorize your transactions based on the chart of accounts, reconcile your QuickBooks file with the bank statements, and send you PDF reports of your financial data on a monthly basis. After setup, contact will be limited. You’ll receive a link to your dashboard each month that gives you access to your financial reports, transaction details, and links to the support center. If you spot any inaccuracies, type them into the sheet and they’ll be updated.

Example of Merritt Bookkeeping’s review checklist
(Source: Merritt Bookkeeping)

Bench vs Merritt Bookkeeping: Integrations

• Bench integrations: Gusto, FreshBooks, Stripe, Square, Shopify, Attune, Keap, Brex, and Clio

Bench vs Merritt Bookkeeping: Mobile App

Available for iOS, Bench’s mobile app even lets you streamline communication with your dedicated bookkeeper and upload bills or receipts. You can also access reports, view accounts and real-time cash flow updates, check your spending categories, upload documents, and schedule appointments. Merritt Bookkeeping doesn’t currently offer a mobile app.

Bench vs Merritt Bookkeeping: Customer Support

Both Bench and Merritt Bookkeeping assign you to a dedicated bookkeeper upon enrollment. Merritt Bookkeeping outsources the work to overseas contractors, while Bench uses its own employees. Hence, if you want a more extensive level of contact, Bench is a good option. But if you want limited involvement and hand-off management of your books to a bookkeeper, consider Merritt Bookkeeping.

However, while both allow you to communicate via a client portal, neither allow direct access to your file. To access your financial information, you need to log onto your account on the Bench website. You can also communicate with your bookkeeper via the mobile app, email, and direct message on the Bench website.

Frequently Asked Questions (FAQs)

Can you file 1099s with Merritt Bookkeeping?

Yes, Merritt Bookkeeping allows you to file 1099s.

Will Bench prepare my taxes?

Yes, Bench will prepare and file your taxes for you as part of the Premium plan.

How much does Merritt Bookkeeping cost?

Merritt Bookkeeping charges a flat rate of $190 per month for basic bookkeeping services.

Bottom Line

If you want to save money and are looking for basic bookkeeping services at an affordable rate, then Merritt Bookkeeping is a good option. However, if you prefer the ability to add services, such as tax filing and invoicing clients, then Bench is the best choice.