FloQast vs Bench

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Our analysts compared FloQast vs Bench based on data from our 400+ point analysis of Accounting Software, user reviews and our own crowdsourced data from our free software selection platform.

Bench Software Tool

Product Basics

FloQast is a comprehensive software solution designed to streamline and enhance the accounting processes for businesses. It is particularly well-suited for medium to large-sized companies looking for an efficient way to manage their accounting tasks, including closing books faster and more accurately. One of the key benefits of using FloQast is its ability to improve collaboration among accounting team members, thereby enhancing overall productivity. The software boasts popular features such as close management, reconciliation, and integration with existing ERP systems, which collectively help in automating and simplifying the accounting workflow. When compared to similar products in the market, users often highlight FloQast's user-friendly interface and robust support as distinguishing factors. Pricing considerations for FloQast typically involve a subscription model, where the cost can vary based on the size of the organization and the specific features required, ensuring that businesses only pay for what they need. Payment frequency is usually on a monthly or annual basis, providing flexibility to suit different budgeting requirements.
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Bench automates bookkeeping and provides financial assistance to small business owners. It automatically connects all transaction data from the business accounts each month. Users can take advantage of the subscription to cloud-based modules and or in-house professional consultants. Access it through the iPhone app to track cash flow and financial health with income statements, intuitive expense reports and more.
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$1,920 Annually
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$249 Monthly
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Tailored to your specific needs
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Chromebook
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Mobile
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Product Assistance

Documentation
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Videos
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Email
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Knowledge Base
24/7 Live Support
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24/7 Live Support

Product Insights

  • Speedy Accounting Process: Connect people, documents and reconciliations for a streamlined accounting process. Boost the most common accounting processes like expense management, billing and credit and close at an average of three days faster.
  • Easy Collaboration: Provide the tools to connect team members quickly and easily anywhere, anytime. Operate as a single, unified virtual team from anywhere.  
  • Stay Audit Ready: Organize data to keep the business ready for smooth and efficient audits by documenting and time-stamping all the work processes. 
  • Streamline Accounting Workflow: Streamline and automate common accounting workflow to save time, money and person-hours that would be otherwise spent on mundane tasks.  
  • Easy Integration: Integrate with ERP systems and Excel workbooks to automate reconciliation ties-ups. Leverage traditional accounting tools. 
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  • More Dedicated Bookkeepers: Leverage the expertise of a team of dedicated bookkeepers who work in-house every month to import bank statements and prepare financial statements. Communicate with a client research team for answers to all economic questions. 
  • Tax-Ready Finances: Track business performance and get insights into monthly financial reporting. Bundle with the tax module to help with preparation, year-end taxes and other assistance. Work with an existing CPA firm to ensure all accounts are ready for the IRS. 
  • Rich Insights: Get monthly statements and expense overviews to stay clued in and keep everything in control. Take control of finances with visual reports. 
  • Better Mobile Capabilities: Access it on a desktop or an iPhone and take a look at crucial financial information on the go. 
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  • Security: Get SOC1 Type II certifications, which ensure review viability by a third-party auditor. Leverage a financial management software that utilizes SSL 256 AES encryption and leading authentication protocols. 
  • Multi-Currency Support: Support all the major currencies, giving businesses the power to conduct transactions globally and seamlessly manage the month-end close across international boundaries 
  • Zero Storage Fee: Ensure that sensitive data gets well secured in the system without charging an extra fee.  
  • Implementation: Get implementation on the phone by a team of CPAs and accounting experts in only a few weeks, unlike other alternatives, which can take months.  
  • GL Integration: Provide seamless integration with Cloud ERP that pulls out the GL balance and automatically matches it to the Excel spreadsheet, without any human intervention 
  • Quick Implementation: Get it up and running in a few weeks. Eliminate costly, time-consuming implementations that come with associated risks.  
  • Other Products:
    • Close Management: Use Close to ensure that wrapping up the books is quick and easy. Save three days every month by organizing, automating and executing the close in the cloud.  
    • Account Reconciliation: Use Auto Rec Matching to match bank transactions to the general ledger in real time. Improve your account reconciliation without spending hours manipulating, color coding and copy-pasting data in Excel. Automate the accounting process and reduce review time and audit questions.  
    • Financial Reporting: Prepare the data for IPO day by documenting and assigning everything in the close process. Identify bottlenecks while the model documents and assigns respective work to team members. 
    • Flux: Automate report building and gain the flexibility to meet the business’s requirements. Deliver flux reports on time by periodically tracking sign-offs and communication. 
    • Analyze: Get rich insights to identify the problem areas and maximize productivity to enhance future closes. Promote a culture of accountability and improvement with historical financial data 
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  • Monthly Bookkeeping: Get dedicated bookkeepers who take time to understand the business by gathering the information they need. Ensure taxes get filed at the right time by importing transactions every month. 
  • Reports: Check financial statements and expense overviews, along with visual reports to identify loopholes and get actionable insights into how the organization should move forward. 
  • Bench Tax: Ensure that financials are filed on time, and the business never misses any deadlines with an all-in-one tax and bookkeeping solution backed by a professional team. Timely and accurate returns ensure that companies get the deduction they deserve. 
  • Catch-Up Bookkeeping: Get quick and accurately managed overdue finances for companies less than two years behind on bookkeeping. Offer extensive experience managing historical bookkeeping. 
  • Bench Retro: Tackle years of missing records, back taxes if the business is several years behind on record keeping. Ensure quick turnaround with a customizable and affordable bookkeeping plan. 
  • Free Trial: Get a month-long free trial to ensure the system works well for the company. 
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Product Ranking

#133

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Accounting Software

#140

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Accounting Software

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User Sentiment Summary

Excellent User Sentiment 52 reviews
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97%
of users recommend this product

FloQast has a 'excellent' User Satisfaction Rating of 97% when considering 52 user reviews from 1 recognized software review sites.

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4.83 (52)
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Awards

FloQast stands above the rest by achieving an ‘Excellent’ rating as a User Favorite.

User Favorite Award

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Synopsis of User Ratings and Reviews

Streamlined Close Process: FloQast offers features to centralize and automate tasks, such as reconciliations and checklists, which can significantly reduce the time it takes to close the books each month.
Improved Visibility and Control: The platform provides real-time dashboards and reporting tools that give accounting teams better insights into the close process, allowing for proactive issue identification and resolution.
Enhanced Collaboration: FloQast facilitates communication and collaboration among team members by providing a centralized platform for task management, document sharing, and communication.
Reduced Risk of Errors: Automation and standardization of processes can help minimize the risk of human error, leading to more accurate financial reporting.
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Intuitive Interface: Many users find Bench's platform easy to navigate, simplifying tasks like categorizing transactions and generating financial reports.
Automated Bookkeeping: Bench automates many bookkeeping tasks, such as importing bank statements and categorizing transactions, saving users time and effort.
Dedicated Bookkeeper Support: Users appreciate having access to a dedicated bookkeeper who can answer questions and provide personalized support.
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Steep Learning Curve: The initial setup and configuration of FloQast can be complex, requiring significant time investment and training to understand its functionalities and workflows effectively.
Limited Customization: FloQast's features and workflows may not align perfectly with the specific needs and preferences of all accounting teams, potentially leading to inefficiencies or workarounds.
Integration Challenges: Integrating FloQast with existing accounting software or other business systems can be technically challenging and may require additional IT support or custom development.
Cost Considerations: FloQast's pricing structure may be a concern for smaller businesses or those with limited budgets, as the cost can vary depending on the number of users and features required.
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Limited Features for Accountants: Some users have expressed that Bench lacks robust features specifically designed for accounting professionals, such as advanced reporting capabilities or complex inventory management.
Customer Support Concerns: A few users have reported experiencing delays or difficulties in getting timely support from Bench's customer service team.
Pricing Structure: While Bench offers transparent pricing, some users have found it to be relatively expensive compared to alternative bookkeeping solutions, especially for businesses with higher transaction volumes.
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FloQast is a cloud-based accounting software specializing in cash flow management, bank reconciliation, and financial close processes. While some users praise its ease of use and time-saving features like automated reconciliation for various accounts, others express concerns about its price and limited features compared to competitors. For example, unlike Bill4Time, FloQast is a standalone accounting solution, meaning it may not integrate with as many other business tools. FloQast's strength lies in its focus on streamlining financial close processes with templatized checklists for tasks like requesting information from department heads and confirming payments. This makes it particularly well-suited for businesses that prioritize efficient financial close procedures. However, businesses seeking a more comprehensive accounting solution with extensive integrations might find FloQast lacking.

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Is Bench the right software to help your business come out on top? Bench is a cloud-based accounting software that aims to simplify financial management for small businesses. User reviews highlight its user-friendliness as a major strength, making it ideal for those without extensive accounting experience. Features like invoicing, expense tracking, and payroll streamline financial tasks, saving users time and effort. However, pricing emerges as a significant drawback, potentially deterring budget-conscious businesses. Bench differentiates itself through its dedicated team of bookkeepers who provide personalized support and ensure tax readiness. This hands-on approach sets it apart from competitors like Xero and QuickBooks Online, which primarily offer software tools without the same level of human assistance. This is particularly valuable for businesses seeking expert guidance and peace of mind regarding their financial records. Overall, Bench is best suited for small business owners who prioritize ease of use and personalized bookkeeping support, even if it comes at a higher cost. Those comfortable handling their own accounting or seeking more budget-friendly options might find other software more suitable.

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