As of December 27, 2024, Bench Bookkeeping, one of the most popular bookkeeping services for small businesses, is officially closing its doors. For thousands of small business owners who relied on Bench to manage their financials, this news is sudden, unsettling, and leaves them in a difficult position just before the new year.
Updates from Bench to their clients:
- While Bench states that current clients can download reports AFTER 12/30/24, we don’t know yet if this will be a true data export, or just summarized financials. Either way, HBC can take that data and work with Bench clients to make sure they hit 2024 tax deadlines.
- Bench is advising their current clients to file for a tax extension, so HBC is taking this to mean that books will NOT be complete or ready for 1099 filings nor tax deadlines.
While the closure itself and these less-than-desirable-updates from Bench are significant, it also highlights a larger issue: the importance of choosing a bookkeeping partner who is truly invested in your business’s success.
The Risks of Outsourced Bookkeeping Services
Bench’s model often relied on outsourcing bookkeeping tasks. While this approach may seem cost-effective, it can come with significant drawbacks, including:
- Lack of Personalization: Outsourced services often follow a one-size-fits-all approach, which may not address your specific business needs.
- Timely Communication Barriers: Working with overseas or low budget teams can lead to missed communications, delays, and frustration when trying to resolve issues.
- Reliability Concerns: As demonstrated by Bench’s closure, relying on large, impersonal companies can leave your business vulnerable to unexpected service disruptions.
When you entrust your financials to a company that lacks direct involvement in your business’s day-to-day operations, you risk losing more than just data—you lose peace of mind.
Why Hill Bookkeeping & Consulting Is Different
At Hill Bookkeeping & Consulting, we’ve built our services around the needs of small business owners. We understand that accurate, reliable financial management is the backbone of any successful business, and we’re here to help you build a strong foundation.
Here’s why small businesses trust Hill Bookkeeping:
1. We Never Outsource
Every aspect of your bookkeeping is handled by our in-house team of dedicated professionals. This means you always know who is working on your financials, ensuring accuracy and accountability at every step.
2. Personalized Service
We believe in building relationships with our clients. By understanding your unique challenges and goals, we provide tailored financial solutions that help your business grow.
3. Proven Expertise
Our team is nationally recognized for our commitment to excellence. As a two-time Woodard Top 50 Accounting Services (CAS) Practice, we have the experience and knowledge to support your business through any financial challenge.
4. Peace of Mind
With Hill Bookkeeping, you’ll never have to worry about abrupt closures or unreliable service. We’re here for the long haul, committed to helping your business achieve financial clarity and success.
What to Do if You’re a Bench Customer
If you’re one of the many small business owners affected by Bench’s closure, don’t panic—but don’t wait, either. The end of the year is a critical time for financial management, and transitioning your bookkeeping needs to a reliable partner is essential.
Here’s how Hill Bookkeeping & Consulting can help:
- Quick Transition: We’ll seamlessly onboard your business.
- Accurate Records: We’ll do everything we can to ensure your books are clean, accurate, and up to date.
- Custom Solutions: Our team will work with you to develop a financial plan tailored to your business’s needs.
Don’t Wait Until It’s Too Late
The closure of Bench Bookkeeping is a reminder that not all bookkeeping services are created equal. By choosing a trusted partner like Hill Bookkeeping & Consulting, you can ensure your financial health is in good hands—today, tomorrow, and beyond.
If you’re ready to take control of your finances and work with a team that truly cares about your success, let’s talk.
Contact us today to schedule a free consultation: https://www.hill-bookkeeping.com/bookings/
