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Bench accounting services shutting down

bench.co

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Re: Bench accounting services shutting down

#391

Post by Baglanal »

To everyone navigating this transition, we understand the challenges and want to help make this process smoother. At Docyt, we are offering 30 days free to businesses impacted by this change, and we won’t enforce annual contracts because we believe flexibility and support are critical.

Docyt has extensive experience with migrations and can: * Perform rapid migration of unlimited years of Bench data. * Deliver full accrual basis bookkeeping. * Support 20+ industry verticals and 30+ revenue systems. * Handle multi-entity and intercompany accounting. * Provide continuous reconciliation of key balance sheet accounts done daily. * Offer integrated bill pay, receipt management, and expense reporting software.

We know this transition may feel overwhelming, but you don’t have to face it alone. Docyt is here to help businesses keep their books accurate and operations seamless. Reach out to me via LinkedIn if this has affected you - we are here to help!

Re: Bench accounting services shutting down

#392

Post by pratt210484 »

nervous_jessica wrote: post #342
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…

I tried to sign up for Kick and received an email that you don’t support my industry. Were an artist studio that makes and retails physical goods. Do you expect to support more industries soon?

I am with an accounting firm and if u need any help will be happy to provide that.

Re: Bench accounting services shutting down

#393

Post by aitchnyu »

lotsofpulp wrote: post #279
ezekg wrote: post #10

Earlier quoted context omitted.

I'd guess staffing issues, since my bookkeeper would change every month. I'm still not sure how they couldn't afford to hire better staff, though. You're right that it could be something nefarious. Where did you move to?

> I'm still not sure how they couldn't afford to hire better staff, Because they never figured out how to automate enough of the process to scale revenue up without scaling expenses. All the investments in these VC funded companies is a bet that the companies will develop automation that will allow them to not hire staff, period (relative to the growth in customers).

Which companies have actually succeeded at becoming a profitable and break-even human-less $ESTABLISHED_INDUSTRY?

Re: Bench accounting services shutting down

#394

Post by brianbreslin »

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…

Does Kick integrate with my existing quickbooks?

Re: Bench accounting services shutting down

#395

Post by wslh »

yolo2122 wrote: post #176

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

With all due respect to the founder, it's impossible to know, even in hindsight, whether things in a startup would have been similar, better, or worse. This is not an endorsement to firing the CEO or saying that the board was capable in any way. This founder or CEO trap is more common that we think about. It is not only a Steve Jobs story. Founders know that giving equity and power to others include risks.

Re: Bench accounting services shutting down

#397

Post by JordanMerritt »

cj wrote: post #359
wdaher wrote: post #307

Earlier quoted context omitted.

It's a fairly capital-intensive business. Here's my best articulation of specifically what makes it hard: https://waseem.substack.com/p/tech-enabled-services

The disconnect you have with me (your customer) is that I don’t want or need a “tech enabled service”. I just want the service. Sometimes being a Pilot customer feels like I’m being experimented on. Instead of humans reliably doing our books, now I need to hire a fractional CFO (which you conveniently also provide) to double check your work. We find errors in our Pilot books at a staggering rate. Things that would ne…

Hey cj, just created an account here to reply to your thoughts, as they strike home. I own Merrittbookkeeping.com. It's a bookkeeping service run by humans, offering very affordable monthly rates. I'm surprised how many new companies are launching "AI powered bookkeeping", but for more money than we are! Why would the end user care if it's AI, unless it's way cheaper? Same thing you are expressing here. Not sure why companies promote fancy tech unless it is a benefit to the end user, not the company themselves.

Re: Bench accounting services shutting down

#398

Post by ensemblehq »

bagelss wrote: post #97
arjawn wrote: post #87

Hey, Arjun here, CEO of doola (Business-in-a-Box for LLCs) (YC S20) If you are a solopreneur or run an Ecom business and are looking for support with dedicated bookkeeping (including a human bookkeeper), check out https://www.doola.com/bookkeeping/ Happy to support anyone looking for help with bookkeeping + business tax filings for their business going into the new year (we support Non-US tax filings as well if you a…

I’m interested in migrating over. We have one account in GBP currency, can you handle this too? It’s with wise.com. Do you over 2024 catch up too?

Hey, if you're interested, happy to introduce you to my accountant. He handles our books that includes multiple currencies including GBP on wise.com.
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