Bench Accounting Shuts Down: What Restaurant & Brewery Owners Can Learn from the Fallout
If you’ve been using Bench Accounting to handle your bar, restaurant, or brewery’s finances, you’re probably still feeling the shock of their sudden closure just days after Christmas. It’s hard to imagine a worse time to be left high and dry, especially with tax season right around the corner. For thousands of small businesses, this was more than a rude awakening—it was a complete disruption. Even though Employer.com swooped in several days later and acquired Bench, it has left many questioning the continuity of the platform.
While it’s tempting to dwell on the frustration (better yet, anger), there are key lessons from Bench accounting shutting down. Safeguard your business and make the right choice for your financial data. we can take away to protect your business moving forward.
Let’s break it down.
What Happened with Bench?
First things first, what happened?
Bench Accounting was a Vancouver-based tech company offering bookkeeping and tax services to small businesses. They marketed themselves as a modern, “tech” solution, blending software with a team of bookkeepers.
On the surface, it seemed like a solid bet for business owners wanting streamlined financial management.
But then, in a flash, they shut down without notice, leaving over 12,000 business owners without access to critical financial data.
Their parting message to customers? “File for an IRS extension.”
That’s hardly the kind of human-centered support you expect when you’re in a bind.
It’s clear their business model wasn’t sustainable. Despite tech funding and private equity backing, the reality of managing finances—something that requires deep expertise and consistency—couldn’t be automated or scaled the way they hoped.
And unfortunately, it’s the business owners who trusted them who are paying the price.
Lessons Learned
This situation underscores the importance of having safeguards in place to protect your financial operations.
Here are four lessons every restaurant and brewery owner should take to heart:
1. Always Back Up Your Financial Data
The biggest takeaway?
Have multiple backups of your financial data—and store them in different locations. Keep one in a secure cloud platform and another on a password-protected external drive that you update regularly. And don’t just save the current year’s records—maintain a complete financial history. Tax audits or lender requirements can pop up years later, and you’ll need access to that information.
2. Be Cautious About Custom Solutions
While specialized tools can be appealing, relying on a smaller, niche provider comes with risks. Bench’s collapse is a harsh reminder that the “custom” solution often isn’t as stable as industry staples like Xero or QuickBooks. (If you’ve been around us long enough, you know that Xero is the only accounting software we recommend for hospitality businesses!) These larger platforms are backed by publicly traded companies with the resources to ensure long-term stability. Sometimes, the marginal benefits of what seems like a new and “cutting edge” solution aren’t worth the risk of a sudden blackout.
3. Separate Tools from Expertise
Think of bookkeeping software as a tool, not a replacement for expertise.
Just like Salesforce doesn’t close deals for sales teams, accounting software isn’t a substitute for a skilled bookkeeper or accountant.
Software companies excel at building products, while human experts bring the knowledge and judgment needed to manage your finances effectively.
Combining both is the key to success.
4. Have a Contingency Plan
Before committing to any bookkeeping software, ask yourself: How easy would it be to switch providers if I’m unhappy? Look beyond features and pricing. Consider how secure your data is, how easily it can be migrated, and whether the provider has a track record of reliability. These questions can save you from being stranded down the line.
We’ve written a great blog post about changing accounting firms that you might find helpful, here.
Why Human-First Accounting Matters
In the end, the biggest takeaway is that we still need accounting with a human touch.
At Unique Accounting, we’ve always believed in a human-first approach. Our team works directly with restaurant and brewery owners to ensure you’re never just another account number. When you partner with us, you get real people who understand your industry, your challenges, and your goals—not just software algorithms or automated responses.
Bench’s collapse highlights the difference between a tech-driven model and a human-focused business.
While we do use the latest tools to streamline processes, we’re not here to replace the human touch. We’re here to enhance it.
Protecting Your Bar, Restaurant, or Brewery’s Future
While there’s a glimmer of hope for Bench customers (Employer.com acquired the platform several days later), the lessons are clear: When it comes to your financial operations, don’t leave anything to chance.
If you’re looking for a partner who understands your unique needs as a restaurant or brewery owner, reach out to us at Unique Accounting. Just use the calendar below to get in touch.
Let’s make sure your business is protected, no matter what surprises the future holds.
Until next time!
By MATT CIANCIARULO
