81–90 of 92 posts
For Bench customers that want to look elsewhere, Pilot is doing free migrations from Bench to QBO, even if you don't want to use Pilot. (So you can even take advantage of it if you want to instead DIY or work with some local firm.) https://pilot.com/bench-qbo-migration (Disclaimer is that I'm one of Pilot's founders.)
Your free BOI filing (even if you don't want to use Pilot) is why I use Pilot.
Former Bench user here - I selected to opt-out and download my financial data over an hour ago. I still haven't received it and am getting concerned. Has anyone actually received their data from Bench yet?
As someone who was affected by this, I opted to go ahead and try and get my money's worth (although I have another service doing this in parallel). Also they were supposed to file an S Corp election for me, so hopefully I'll be able to find out the latest status of that. This whole thing is such a mess.
For Bench customers that want to look elsewhere, Pilot is doing free migrations from Bench to QBO, even if you don't want to use Pilot. (So you can even take advantage of it if you want to instead DIY or work with some local firm.) https://pilot.com/bench-qbo-migration (Disclaimer is that I'm one of Pilot's founders.)
Your free BOI filing (even if you don't want to use Pilot) is why I use Pilot.
Seems like a last second deal. Doesn't inspire confidence. For context: https://news.ycombinator.com/item?id=42523061 And former CEO's post: https://x.com/ianwcrosby/status/1872724231999381790
It's very possible it has been a deal long time in the making. When you're in an acquisition process, the acquirer will often prey on your weaknesses to get a better deal. If Employer.com had already been in talks prior to the shutdown, then they already knew the financial condition, they may have surprised Bench with a dramatic decrease in the purchase price at the 11th hour in an effort to get a better deal knowing…
No.
From the acquirer:
“It fits our product roadmap. It was super serendipitous…I saw that news. I was like, ‘This is perfect.’ It checks a lot of boxes for us. It was just a really good synergistic opportunity, so we went for it.”
https://multitudes.weisser.io/p/how-employercom-acquired-ben...
I received an email with subject "Bench is Back — Here’s What You Need to Know". The contents looked like a copy of the previous mail: "We regret to inform you that we will be shutting down Bench services. Effective immediately, [...]".
On a hunch, I checked the HTML version rather than the plain text. "
Bench has been acquired by Employer.com and we’re thrilled to share with you that as of today, December 30, 2024, we’re back in action.
[...]"Somehow, they managed to send out an HTML mail that has the plain-text of a completely different mail. How does that even happen? What possible steps would lead to sending such a mail?
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For anyone curious about the complete contents of the mail sent to Bench customers (the HTML one they seem to have actually intended to send):
Dear Bench customer,
We wanted to get in touch with you to give you an update on Bench Accounting.
Bench has been acquired by Employer.com and we’re thrilled to share with you that as of today, December 30, 2024, we’re back in action.
What You Should Know
Is anything changing?
No, you will continue to work with the same great team, platform, and service. We’re preparing to wrap up your year-end financials and get you set for a smooth tax season in Q1 2025.
Who will be doing my books?
The same great Bench team will continue to be supporting you with your books using the Bench.co platform, ensuring that you have a seamless experience moving forward.
Next Steps
To continue working with the Bench team and platform, simply login to your account, and click “I Consent.”
This gives us the permission to continue supporting your account, and transfers your data ownership from Bench to Employer.com
If you do not wish to provide consent, you will have the option to opt out. Please note that once opted out, we cannot reverse the action nor can we provide any refunds.
We know the sudden shutdown of Bench disrupted things, and for that, we’re truly sorry. This acquisition is about turning things around and making sure your bookkeeping needs are met — better than ever. We look forward to working with you for a successful tax season ahead.
Thank you for your patience and understanding, and please reach out if you have any questions.
The Bench Team
Earlier quoted context omitted.
It's very possible it has been a deal long time in the making. When you're in an acquisition process, the acquirer will often prey on your weaknesses to get a better deal. If Employer.com had already been in talks prior to the shutdown, then they already knew the financial condition, they may have surprised Bench with a dramatic decrease in the purchase price at the 11th hour in an effort to get a better deal knowing…
Lousy behavior all the way around. And with SMB accounting on the last days of the year.
Earlier quoted context omitted.
Now with a list of Board of Directors https://x.com/amasad/status/1873018020895047744
The lust for a simple good guy vs bad guy narrative is insatiable.
You can’t fight against a vague idea. You can’t fight against something which you’re complicit in. You can’t fight against ‘the good guys’ without being a ‘bad guy’.
So eventually, either we stop spoiling for a fight…. Or someone gives us this kind of fight.
Has anyone figured out how to download your data from Bench? In the original email they sent out that announced they were shutting down, they said data would be available to download from http://data.bench.co . But right now, this domain appears to be inactive. When I logged back in, they gave me the option to: give employer.com permission to access my data, or download my data. I selected the former option so that I…