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Bench accounting services shutting down

bench.co

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Re: Bench accounting services shutting down

#221

Post by justinhj »

pkkkzip wrote: post #216

hmmm another "unicorn" from vancouver that bites the dust, i remember one with an owl as mascot logo can't recall what they did or their names but many ppl from vancouver mentioned it while ago. I wonder why that place can't compete with American cities, i think even Toronto /Montreal is more successful than Vancouver. for one the low salary must be demoralizing on top of being one of the most expensive cities in the…

US companies pay more and obviosuly it’s a bigger market. It means the pool of good engineers and leaders is constantly leaking across the border. I’ve made Vancouver work for me for 20 years but there are significant headwinds and for young people with no ties there is very little incentive to stay. There is a lot more happening on the East coast though.

Re: Bench accounting services shutting down

#224

Post by ttul »

yolo2122 wrote: post #176

Founder/Former CEO Ian Crosby's post about the Bench closure: https://x.com/ianwcrosby/status/1872724231999381790

I advise caution in believing his statements to be true, particularly about Bench’s board and investors. The truth will live in their financial statements, which no doubt will be revealed in bankruptcy proceedings in the coming months.

Re: Bench accounting services shutting down

#225

Post by rudolf1995 »

willcipriano wrote: post #61
pplante wrote: post #58

Earlier quoted context omitted.

What gave you that impression? I always consulted my financials when making decisions. Unfortunately the books were wrong and I made incorrect choices from that bad data.

When I go over my household budget I'd notice if I wasn't paying my mortgage even if someone deleted it from my spreadsheet. It's important enough to me that it's front of mind when I'm thinking about money. I expect to see it on the list. I'd look for it if it wasn't there. Salaries are apparently not that big of a deal in the same way so asking for a higher one seems like a good idea.

Seems like a pretty sweeping generalization to take from a single anecdote about how one person was confused by a bad UI.

Re: Bench accounting services shutting down

#227

Post by jnwatson »

thayne wrote: post #34
foolfoolz wrote: post #14

Earlier quoted context omitted.

“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.

It is irony of all ironies that an accounting services company would be surprised about their own insolvency.

In reality, they had to have known for months. The director were probably just holding out for a Hail Mary funding injection.

This is bad bad business, especially for a financial services company.

Re: Bench accounting services shutting down

#229

Post by kopirgan »

conradwa wrote: post #145

I can’t imagine the frustration you’re going through if you’re a Bench user. Paying for a service and not getting what you expect, especially when it comes to your taxes is no joke. Instead of having to start from scratch, our team at Kick is moved quickly to build these resources to help prior Bench customers: 1. Free Bench migration 2. Free 2024 Bookkeeping review calls 3. Free Daily Live Q&As (coming soon) We’re m…

Strange that kick seems to know and had time to build all this but customers didn't get any heads up?!
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