bench accounting

Here’s a summary of Bench Accounting — what it was, what happened, and what you should know if you were considering using it or currently are affected:

🧾 What was Bench Accounting?

Bench (sometimes “Bench Accounting”) was a fintech / bookkeeping startup founded in 2012 (originally called 10Sheet Inc.), offering bookkeeping services for small businesses.
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Its model combined software + human bookkeepers, so you got automated data processing plus real people overseeing or doing parts of the bookkeeping.
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They offered services such as monthly bookkeeping, catch‑up bookkeeping (if your books were behind), tax filing and advisory, real time financial reporting, expense tracking, document uploads, etc.
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⚠️ What happened to Bench

On December 27, 2024, Bench abruptly announced that their platform would be shut down. The shutdown was effective immediately.
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They instructed customers to download their financial data / documents by March 7, 2025.
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After the shutdown, Bench was acquired by Employer.com.
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There were many complaints / confusion from customers: missing year‑end packages, renewal issues, refunds, disrupted service, etc.
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🔍 What this means in practice

If you were using Bench (or considering it), here are important take‑aways and what you may need to do:

Data Retrieval

If you have Bench documents, financial statements etc., see if you downloaded backups. Bench gave a window for data access.
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After that window, you may lose access (unless Employer.com has taken over and offers some continuity).

Switching Services

You’ll need an alternative bookkeeping / accounting service. Some Bench customers started searching for alternatives like QuickBooks, Xero, local accountants, etc. Reddit threads show people doing that.
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If you do switch, ensure the transition includes cleanup of past books, getting year‑end / tax documents, etc.

Contracts / Renewals / Refunds

There are reports of disputed charges, renewals, and that some customers paid in advance but didn’t get services.
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You might want to check your contract terms, what you paid, whether you’re owed refunds, and how to handle cancellation or dispute.

Legal / Tax Implications

If you were counting on Bench to file taxes, produce year‑end statements, etc., missing those can affect your tax filings. You may need to request extensions (where applicable) and ensure your financial statements are in order.
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