Bench vs Novo

Detailed side-by-side comparison

Bench

From $349/mo

Bench is an online bookkeeping service that pairs dedicated professional bookkeepers with intuitive software to manage your business finances. It's designed for small business owners who want expert bookkeeping handled for them without the cost of hiring in-house accounting staff.

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Novo

Free

Novo is a digital business banking platform built specifically for small businesses, startups, and freelancers. It offers fee-free business checking accounts with integrated financial management tools like invoicing, expense tracking, and accounting software integrations.

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Feature Comparison

Feature	Bench	Novo
Core Service	Full-service bookkeeping with dedicated human bookkeepers who manage your books, categorize transactions, and prepare monthly financial statements	Business banking platform providing checking accounts with built-in financial management tools and integrations
Financial Statements	Professional bookkeepers prepare monthly income statements, balance sheets, and year-end tax-ready financials	Provides automatic expense categorization and tracking, but relies on integration with accounting software like QuickBooks or Xero for full financial statements
Transaction Management	Automated imports with human review and categorization by professional bookkeepers, ensuring accuracy	Automatic expense categorization for transactions in your Novo account, with manual adjustments available
Invoicing & Payments	Not a core feature; focuses on bookkeeping reconciliation rather than payment processing	Built-in invoicing tools and payment acceptance directly through the banking platform
Tax Support	Provides year-end tax preparation support and ensures books are tax-ready, though full tax filing requires a separate service	No direct tax support; integrates with accounting software that can be used for tax preparation
Setup & Historical Data	Offers catch-up bookkeeping services to clean up historical records and backlogged transactions	Quick account opening for new banking, but no bookkeeping cleanup services for historical data

Pricing Comparison

Bench starts at $349/month for professional bookkeeping services, while Novo is completely free with no monthly fees or minimum balance requirements. The comparison is not direct—Bench is a professional service investment, while Novo is a free banking platform with optional paid integrations.

Verdict

Choose Bench if...

Choose Bench if you need comprehensive bookkeeping services with dedicated professional bookkeepers who will manage your books, prepare financial statements, and ensure your records are accurate and tax-ready. It's ideal for businesses that want hands-off bookkeeping and have the budget for a premium service.

Choose Novo if...

Choose Novo if you need a modern business banking solution with integrated financial tools and want to avoid monthly banking fees. It's perfect for startups, freelancers, and small businesses comfortable managing their own bookkeeping with the help of software integrations.

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Pros & Cons

Bench

Pros

+ Human bookkeepers provide personalized service and catch errors software might miss
+ All-inclusive pricing with no hidden fees or per-transaction charges
+ Handles historical bookkeeping cleanup and backlog efficiently
+ Simple onboarding process with minimal setup required

Cons

- More expensive than DIY accounting software options
- Limited real-time access since bookkeepers update monthly
- Does not include full-service tax filing (only preparation support)

Novo

Pros

+ No monthly account fees or minimum balance requirements
+ User-friendly interface designed for small business owners
+ Fast account opening process with minimal paperwork
+ Built-in tools reduce need for multiple financial platforms

Cons

- Limited physical banking options as it's digital-only
- Interest rates on deposits are typically lower than traditional banks
- Some advanced features require third-party integrations