Bench Accounting's Sudden Shutdown: What Small Business Owners Need to Know to Choose an Accounting Partner They Can Trust – Ep. 205

The abrupt closure of Vancouver, Canada-based venture capital bookkeeping and accounting firm, Bench, left 30,000 business owners scrambling last month and also served as a powerful wake-up call: how well do you know your bookkeeping partner and are they really working for you? In this episode, Danielle Hayden, CPA and founder of Kickstart Accounting, Inc., discusses what we can learn from the fallout of Bench Accounting's unexpected shutdown and shares must-know tips for choosing an accounting partner who'll support your business with stability, transparency, and care.

From spotting red flags, like use of proprietary software that can trap your data, to finding a team that supports your goals, Danielle equips you with the questions you need to ask before partnering with a bookkeeping or accounting firm. That way you can make the switch to a partner you trust and is truly there for your business.

Key Takeaways:

• The Importance of Monthly Financial Statements: Ensure your bookkeeper isn't just handling your numbers but is providing clear, consistent financial reports to help you make informed decisions.

• Stay in Control of Your Data: Avoid accounting services that use proprietary software, which limits access to your data and ultimately, can halt your business's momentum. Choose partners who give you full control over your financial history.

• Choose a Team That Cares: Your bookkeeping partner should celebrate your wins, support you through challenges, use transparent practices, and provide personal, reliable communication. In other words, give you genuine human connection and insights.

• The Value of a Well-Established Brand with a Proven Track Record: Stability matters. Work with firms that have a reputation for success built on a strong foundation with long-term goals and a commitment to their clients, not ones susceptible to abrupt closures or operational risks.

Topics Discussed:

The Bench Accounting Shutdown (00:00:21 – 00:03:28)

Checklist for Choosing the Right Bookkeeping and Accounting Partner (00:03:28 – 00:07:30)

Why Kickstart Accounting's Framework Is a Step Above the Rest (00:08:22 – 00:12:38)

Kickstart's Seamless Onboarding Process for Hassle-Free Switching (00:12:05 – 00:13:04)

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