Introduction
For businesses that had relied on Bench Accounting for their tax and bookkeeping needs, the news of their sudden shutdown during the holidays, came as a shock – both to its thousands of clients and dedicated employees. The rapidly shifting accounting needs based on technologies and complex regulations, offers benefits as well as disadvantages. The ill-fruit of which is mainly borne by the small businesses and budding entrepreneurs who need accurate financial data to make monthly strategic decisions.
In this blog, we will discuss why businesses associated with bench needs bench accounting alternative solutions quickly, and as to what features to look for while choosing the top accounting firm that can meet all their custom and unique needs. We will also discuss on the benefits of working with an experienced top accounting firm like Corient Business Solutions, to navigate this change.
Why Businesses Are Seeking Alternatives to Bench Accounting
Having a portfolio of over 11K clients – largely based in North America, Bench lost all to its abrupt closure, leading businesses to delay in tax obligations and carrying their day-to-day operations without reliable financial records to guide them. Many small business owners are now facing a mind-numbing task to once again look for ‘the’ trusted accounting service provider that is not only reliable, and cost effective, but also in alignment to the goals and vision of the company, while being on a time-constraint.
Accounting migration is a critical step in ensuring business continuity. For small businesses, this transition can be daunting due to the complexities involved in shifting financial data, managing taxes, and ensuring the right systems are in place. Bench accounting alternatives will ensure that a new flexible system is chosen to bring business consistency and maintain long-term stability for business growth.
The Importance of Smooth Accounting Migration for Small Businesses
Sudden changes in the accounting practices – even change in the software used, can lead to missed deadlines, errors in financial statement and even tax penalties if not carefully planned. A carefully planned migration ensures that your financial data is transferred accurately, on time, so that your accounting process remain unaffected. Migration of not just data takes place, but also the relations and expectations that the new firm must uphold to bring the vision into reality.
The Significance of Maintaining Accounting Stability During Transition
Accounting stability is a must during any transition. Whether you are transitioning from Bench, which used certain software, such as Xero, to compute your accounting needs, or following a specific format, the new outsourcing company must maintain the same format and software use to avoid businesses losing track of their financial position, profitability, and regulatory compliance.
Why Small Businesses Need Reliable Accounting Alternatives
Small businesses are more prone to faulty decisions and tax reporting, if the consistency in finance report preparation is not maintained. The risk margin associated with such growing firms is very low, leaving a little to no room for errors. Mistakes, and learning from them often proves to be a costly affair – as even minor discrepancies in financial records can lead to regulatory fines, loss of investor trust and strained relationship with vendors and clients.
The right Bench Accounting alternative ensures that the businesses can continue their operations and finances without disruption. It allows the small business to gain access to advanced tools and resources that ensures better control over their financial management. Be it through cloud -based accounting software, or hiring an outsourced accounting service provider, businesses can find solutions that satisfies their unique needs, while propelling them towards the growth trajectory.
Features to Look for in Bench Accounting Alternatives for Accounting for Small Business
When searching for Bench Accounting Alternative, it is essential to consider several key features, such as:
User-friendly platforms:
Small Businesses have a wide range of needs that are limited by their budget. They require a comprehensive solution that is cost-effective, and can quickly adapt to new systems, while minimizing the error. The need is for a holistic, simple platform that can perform diverse functions, and is easy to use even for those without extensive accounting knowledge- the kind of platform that makes interpretation simple.
For Example: QuickBooks Online which provides its users with an interactive dashboard where that can manage invoices, track expenses, and generate reports with just a few clicks. Its simplicity and flexibility allow small business owners to take charge of their finances without needing a dedicated accounting team.
Integration Capabilities:
The best bench accounting alternative should be able to able to integrate payroll systems, inventory management, CRM software and more, ensuring that your financial data is accurate and up-to-date without requiring manual entry.
For example: Corient works with a variety of third-party accounting software, which is specialized by its team of professionals, covering all aspects of finance and accounting. This allows the firm to deliver solutions that are a perfect blend of software precision and human expertise – enabling businesses to make informed decision.
The integration ensures that all the financial data is centralized within one intuitive dashboard, allowing businesses to access and analyze their financial information in one place, promoting accuracy as well as providing a clear, comprehensive interpretation of the data.
Support and Guidance for Migration:
Migration is a complex and daunting task that requires full attention, dedicated support and guidance throughout. From data transfer to troubleshooting, having a team of experts to guide you, guarantees that the transition is smooth and successful, without affecting the business operations and growth.
Top Accounting Firm for Small Businesses
From backing-up all the financial data to double checking every transaction, and consulting with professionals, a top accounting firm preserves the data integrity and accuracy. It facilitates an easy and up-to-date system integration and migration that upholds the value and vision of the company. Small Businesses can benefit from outsourcing such accounting tasks at low-cost, ensuring capable financial management.
Corient is among the trusted, reliable and cost-effective accounting service provider that helps the small businesses by setting a clear timeline for the transition, ensuring continuous communication for smooth process and monitoring the financial health. It is one of the top accounting firms that clearly outlines the risk mitigation strategies, in-case of any unforeseen issues/events.
With having a consistent track record in value-delivery and solving issues that arise during accounting firm switching, Corient ensures to provides each client with fullest customer satisfaction all the way. With Bench shutdown, Corient can be your trusted partner in business accounting solutions – offering tailored solutions. Read our testimonials, to get an idea on how we prioritize client fulfillment and goal-based roadmap for effective migration and business continuity – for the past 20 years.
Benefits of Working with an Experienced Top Accounting Firm – Corient Business Solutions
Corient Business Solutions stands out as the ideal bench accounting alternative for small businesses transitioning from Bench Accounting. Some of its outstanding offerings that they have gained from experience are:
- Personalized bookkeeping to keep the finances organized.
- Tax preparation to ensure compliance and accuracy.
- Financial reporting for clear insights into your business’s performance.
- Advisory services to guide strategic decision-making.
Corient’s hand-on approach combines expert guidance with cutting-edge technology, ensuring that businesses not only transition smoothly but also thrive in their financial operations. From small businesses in all sectors and niche, to growing entrepreneurs, Corient can help everyone with tailored value and growth driven solutions.
Conclusion
Migrating from Bench Accounting to a reliable and consistent alternative is essential for maintaining accounting stability and for small businesses to ensure financial continuity. By choosing the right solution providers, such as Corient Business Solutions or trusted cloud-based software, small businesses can safeguard their financial health during the transition.
If you’re looking for a seamless accounting migration experience, reach out to us at info@corientbs.com or contact us at +1-302-498-8332. We know your struggles and fear, and we can guarantee to solve all your doubts in one-to-one pre-consultation as to why you should choose us. Don’t let accounting disruption hold you back. Focus on your goals and let us take care of all your accounting needs. Don’t be overburdened of where to start, and how to finish, let us help you, while you drive business growth and continuity.
