Flabbergasted
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Bench Accounting and Pilot Accounting are both online bookkeeping services, but they cater to different types of businesses and offer distinct features. Here are the key differences:

Bookkeeping Method

  • Bench uses modified cash-basis accounting, which is simpler and suitable for small businesses with straightforward transactions. It works well for businesses that do not deal with inventory or accounts payable/receivable123.
  • Pilot defaults to accrual-basis accounting, which provides a more comprehensive financial picture by recognizing revenue and expenses when incurred. This method is preferred by growing businesses, venture capitalists, and the IRS for certain companies123.

Target Audience

  • Bench focuses on very small businesses, particularly those with less than $5 million in gross sales annually, making it ideal for companies with simple financial needs12.
  • Pilot is tailored for startups and rapidly-growing businesses that may require advanced financial services like accounts payable/receivable management, inventory tracking, and CFO consulting145.

Software Integration

  • Bench uses proprietary software for bookkeeping. While effective, it can limit flexibility if you switch providers3.
  • Pilot uses QuickBooks Online, allowing seamless integration with other financial tools and easier transitions to other services if needed3.

Additional Services

  • Bench offers tax filing and consulting as add-ons but does not provide advanced services like CFO support or multi-entity management12.
  • Pilot provides a broader range of advanced services, including CFO consulting, R&D tax credit assistance, multi-entity support, and custom reporting. These are particularly beneficial for high-growth startups45.

Pricing

  • Bench starts at $249 per month (billed annually), making it more affordable for small businesses6.
  • Pilot starts at $599 per month for businesses with less than $30,000 in monthly expenses. Pricing adjusts based on business complexity and includes an onboarding fee equal to one month’s cost46.

Support

  • Both services offer dedicated bookkeepers, but Pilot provides additional features such as priority support and monthly phone reviews in higher-tier plans43.

In summary:

  • Bench is better suited for small businesses with simple financial needs.
  • Pilot is ideal for startups or growing companies requiring accrual accounting and advanced financial services.
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Footnotes

  1. https://www.linkedin.com/pulse/pilot-vs-bench-features-limitations-frank-mastronuzzi ↩ ↩2 ↩3 ↩4 ↩5

  2. https://infin.ai/blog/bench-vs-pilot-bookkeeping-service.html ↩ ↩2 ↩3 ↩4

  3. https://pilot.com/blog/bench-vs-pilot-bookkeeping-service ↩ ↩2 ↩3 ↩4 ↩5

  4. https://www.nerdwallet.com/article/small-business/pilot-bookkeeping ↩ ↩2 ↩3 ↩4

  5. https://fitsmallbusiness.com/pilot-bookkeeping-review/ ↩ ↩2

  6. https://www.bench.co/blog/bookkeeping/pilot-vs-bench ↩ ↩2