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If they're insolvent, depending on who they're using for their infrastructure their systems and services may have literally been turned off on them.
Bench accounting services shutting down
121–130 of 399 posts
Re: Bench accounting services shutting down
#122Re: Bench accounting services shutting down
#123[dead]
Re: Bench accounting services shutting down
#124What are the best alternatives?
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Re: Bench accounting services shutting down
#125You guys are lucky. I didn't even get an e-mail. I just found out I couldn't login and happened across the website. So what are the chances of getting any kind of refund for the services I paid for and will not receive?
I'm wondering the same thing. I paid for Bench through Freshbooks, who said they'll be offering refunds for services not rendered. If they didn't get back to me with this, I was going to dispute the charge with my credit card company. If you paid by CC, you could try that.
Re: Bench accounting services shutting down
#126[dead]
Re: Bench accounting services shutting down
#127[dead]
Your website doesn't mention tax filing. Is this a new offering or am I missing it somewhere?
Re: Bench accounting services shutting down
#128Wow. We need an alternative to Intuit.
Re: Bench accounting services shutting down
#129Re: Bench accounting services shutting down
#130Earlier quoted context omitted.
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.
Anything is possible and running out of money is the most probable explanation but it seems so hard for this type of business to get itself into this type of situation. Customers pay thousands of dollars per year, usually upfront. That’s the type of revenue predictability that most of us would love for our businesses because it makes forecasting so much easier. They must have known months ago that they were running o…
And yet, it's as simple as money ran out. They never turned a profit, investors ran out, the last round of funding was a loan with strings attached that led to a bunch of cost cutting and other poor decisions that explain the poor service quality.
A few staff guessed it might close 3 weeks ago at best though everything was very uncertain, but most of the accountants probably didn't see this coming either.
source: I know a few former employees.