The story out of Bench Accounting is wild.

They closed today.  They are telling their clients they can access their data on Dec 30th.  We will see if that happens or not.  Further they are telling all of their now former clients to file an income tax extension.

They market themselves as the largest bookkeeping company in North America.  Over 600 employees.  They claim they have over 35,000 US business clients.  They raised 113 million dollars of VC cash.  They are 13 years old.

One would think they would sell; however, they just closed.  Their balance sheet must be pretty bad.  I have a feeling a lot of stories are coming and the mess must be quite large.  I imagine lawsuits are coming.

I have not been able to verify this; however, a couple of people have said they were recently selling annual contracts to a lot of their customers.

A lot of similar firms are now trying to gain former Bench Accounting clients as their own.

Why would you want to go from one FINTECH company to another?

Why would you want to go from one VC owned company to another?

My firm handles a lot of bookkeeping for clients and there are a lot of other great firms on X that do that same...  If you are looking for a new firm to handle your bookkeeping and your income taxes let me know.

If you are a former customer of @Bench speak up.

If you are a former employee of @Bench speak up.

What a mess...