Seamless migration from Bench to Finaloop

Switch with confidence to an accounting service built for your ecommerce brand.

Trusted by 2,500+ consumer brands

If you are an ecommerce client of Bench Accounting, chances are you are now looking to migrate from Bench to a Bench Accounting alternative. While plenty of Bench Accounting competitors exist, only Finaloop specializes in ecommerce.

Finaloop migrates your Bench books, catches up your history, and gives you what Bench never had: real-time financials with inventory and COGS built for ecommerce.

Finance built for where you are now. Ready for where you're going.

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(Human) ecommerce experts handling your books

Finaloop has a team of ecommerce bookkeepers, CPAs, finance experts, and tax specialists, who are almost exclusively from ex Big-4 accounting firms. They handle your bookkeeping for you and are here to support you every step of the way.

Real-time financials, available 24/7

You connect your banks, credit cards, ecommerce platforms, and business apps, and get 100% accurate financials you can trust.

Unlike many other Bench accounting competitors, our team powered by our automation, accurately pulls and reviews the data - so you never need to worry about missing information or manual updates.

Unmatched instant financial visibility

Get fully reconciled Profit & Loss and Cash Flow reports with the last 2 months of your financial data—absolutely free. Plus, all your critical financial KPIs and tax-saving tools a click away. Our dashboard doesn't just crunch numbers, it tells your brand's story.

Expert-powered bookkeeping, done for you

We're not just smart software; we're your dedicated team of ecommerce finance vets. Our accuracy-obsessive experts ensure perfect categorization and precision, and only bug you when we absolutely must – promise!

Top rated by ecommerce brands like you

Finaloop vs your current stack

We integrate with the best platforms

The #1 Bench alternative for ecommerce

Switching to Finaloop transformed the way I use my financials in my day-to-day operations. Plus, working with their ecommerce experts saved me thousands in taxes. I switched and never looked back.”
Austin Witte
Founder & COO, The Magic Brand

FAQs

Which is more cost-effective for growing ecommerce businesses: Finaloop or Bench?

Finaloop Pros:

• Flexible, Growth-Aligned Pricing: Pricing scales with your business growth, ensuring that you only pay for what you need as your business expands.
• Comprehensive ecommerce Features: Includes real-time COGS, inventory tracking, and platform integrations, offering more value for ecommerce brands.

Finaloop Cons:

• Not for Non-ecommerce Brands: Finaloop’s software and services are designed for ecommerce, multichannel, and wholesale brands, so it may not be the best fit for other types of businesses (e.g., SaaS).

Bench Pros:

• Lower Starting Price: Bench’s plans start at a more affordable price, making it a good choice for smaller businesses with simpler bookkeeping needs.
• Simplified Pricing: Fixed pricing for basic and tax-inclusive services, offering more predictability for smaller businesses.

Bench Cons:

• Limited ecommerce Features: Lacks real-time inventory and SKU-level insights, making it less suitable for growing ecommerce brands.
• Delayed Bookkeeping: Monthly reports are available up to 15 days after the month ends, which can delay critical financial decisions for fast-moving ecommerce businesses.

What happened to Bench Accounting?

In December 2024, Bench Accounting abruptly shut down, temporarily leaving roughly 12,000 small businesses without access to their books. It was acquired by Employer.com a few days later and has operated under new ownership since. Many former Bench customers — especially ecommerce brands — used the disruption to move to accounting solutions built specifically for their business model.

How do I get my books and data out of Bench?

Log in to your Bench account (now operated through Employer.com) and export your financial statements, transaction records, and receipts. If you've lost access, contact Bench support to request your historical data. Once you have your records — or even if you don't — Finaloop's team can rebuild and catch up your books from your connected bank, store, and payment accounts, typically going back to the start of the year and often further.

How long does it take to migrate from Bench to Finaloop?

Most brands connect their accounts in minutes, and Finaloop typically completes historical catch-up within 48 hours of receiving the information needed to configure your account. The transition from Bench is free, and there's a 14-day free trial with no credit card required.

Why do brands switch from Bench to Finaloop?

Bench offers general cash-basis bookkeeping for small businesses — reports arrive weeks after month-end, and there are no native inventory or COGS tools. Ecommerce brands outgrow that fast. Finaloop is built exclusively for ecommerce: real-time accrual and cash books, inventory and COGS tracking, and tax-ready financials. And after Bench's abrupt 2024 shutdown and acquisition by Employer.com, many brands also simply want a partner whose books — and business — run in real time. Switching is free.

How does Finaloop manage inventory and COGS?

Finaloop connects inventory directly to your accounting and financial reporting and offers three methods of COGS and inventory tracking so you can choose which best works for your business:

1. Purchase based COGS: For brands with little inventory (usually less than $3,000 a month), like dropshippers
2. Sales based COGS: For brands with larger inventory values that track their COGS in an external software, like an ERP or inventory management software, and
3. InventoryIQ: For brands with larger inventory values that need a real-time inventory management system to track their inventory and COGS. InventoryIQ gives you FIFO inventory valuation, landed costs, purchasing, and cost of goods sold (COGS) in real time.