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Bench accounting services shutting down

bench.co

31–40 of 399 posts

Re: Bench accounting services shutting down

#31
post #9

The company is over a decade old and was not cheap to use, I don't think they could have suddenly run out of money as customers typically pay upfront and are in long term contracts. Could it be staffing issues? Corporate misbehavior? Data loss? Ransomware? Has a member of their team gone rogue? Misappropriation of funds? We were bench customers until a few months ago, paying thousands of dollars per year for what cou…

what service did you move to?

Re: Bench accounting services shutting down

#32
post #6

FYI: "You will have until Friday, March 7th at 5:00pm ET to download your Bench data from this website."

Additionally, they took down all of their accounting articles without notice. They had valuable summaries on various tax topics. Thankfully, Wayback Machine has archives of my bookmarks.

All the more reason to self-host your own archived versions of bookmarks...

Re: Bench accounting services shutting down

#34
post #8

This is really frustrating. I'll admit their services have been going downhill dramatically (all my books Jan-Nov were still open as of last week and usually they would close subsequent month), but I still think shutting down right before the tax year ends is downright scummy. What are the alternatives that handle bookkeeping and tax filing? Maybe I should just get a local CPA...

“shutting down right before the tax year ends is downright scummy” as if a dying business can magically decide to stay open longer and shut down at a more convenient time

It seems unlikely they didn't know they were going down until just a few days before having to shut down services.

And given that this happens during the holidays, ot wouldn't surprise me if some customers don't find out about this until after the window to extract your data has expired. Or people have to work on fixing this mess who were supposed to be on PTO.

Re: Bench accounting services shutting down

#40
post #9

The company is over a decade old and was not cheap to use, I don't think they could have suddenly run out of money as customers typically pay upfront and are in long term contracts. Could it be staffing issues? Corporate misbehavior? Data loss? Ransomware? Has a member of their team gone rogue? Misappropriation of funds? We were bench customers until a few months ago, paying thousands of dollars per year for what cou…

Why do you think it wasn't possible for them to run out of money? It's not like a 10 year old business is immune to failure.

The simplest explanation is usually the correct one.

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