We are thrilled to announce that Prestige Accounting Services Group (previously Prestige Wealth Accounting Group) has joined forces with Bacchetta & Company in an exciting new partnership!
The Real Cost of Cheap Bookkeeping: Lessons from Bench’s Abrupt Shutdown
Remember when Bench closed its doors on December 27—practically overnight—and everyone collectively gasped at their screens? If you’re a small or medium-sized business owner who used the platform, you probably felt that wave of panic: Wait, who’s got my books? How do I trust these online platforms?
Then came the news that Employer.com would acquire Bench, stirring up more questions such as “Is my data really safe?”
The wake-up call no one asked for
Bench’s abrupt shutdown was more than a public relations nightmare for the brand (and its subsequent buyer). It was a major wake-up call for anyone who has ever typed “cheap online bookkeeping” into Google.
Sure, Bench had been a big name in the DIY bookkeeping space for a while. But the cautionary tale here is crystal clear: the bargain-basement providers—where you have no idea who’s actually handling your finances—might not offer the solid financial foundation you thought they did.
It’s not about technology. It’s about trust.
Technology isn’t the bad guy here – in fact, tech products are making it easier than ever for tax and accounting professionals to deliver the high-value services they want to provide, and that ultimately help clients like you. AI and automation are game-changers, helping to reduce tedious tasks and allow humans to focus on strategic thinking. That’s a huge win.
But here’s the thing: if AI is the engine of your finances, you still need a driver who knows how to steer. It’s kind of like trying to win the Indianapolis 500 with Mario from Mario Kart, instead of Mario Andretti. That is because a tool—no matter how powerful—can only do what it’s told.
For instance:
AI can sort data in seconds
AI can auto-categorize expenses
AI can generate reports you barely need to glance at
Yet AI can’t console you during a tax crisis. can’t sit down to develop an actual plan that factors in your business’s growth, your personal goals, and today’s uncertain economic climate.
Why a human expert is your business’s best ally
Ever tried to negotiate with the IRS with just a chatbot? Did you get anywhere? Exactly.
We see nuances: A human accountant reads between the lines. We can spot hidden deductions or signals that your business is about to explode—or implode.
We speak human: Your finances may benumbers, but your livelihood is people. You need someone who speaks your language, not just “Balance Sheet 101.”
We adapt: Economic and regulatory changes are constant. What worked a year ago might be irrelevant today. An experienced pro has their finger on the pulse.
“I’ve got my AI + a cheap solution, isn’t that enough?”
That’s exactly what Bench’s former customers thought. Until it wasn’t.
They believed they could hand over their bookkeeping to a semi-automated system—and walk away. But when Bench imploded, the question everyone asked was: Who do I even call?
The real ROI of working with a qualified tax pro
Some business owners think, “I can’t afford a high-quality accountant.” But let’s flip that around:
How much money are you losing with patchy books?
How many tax benefits are you missing out on because the software didn’t prompt you correctly?
How many sleep-deprived nights did you waste worrying about inaccurate numbers?
When you invest in a proper accounting expert, you’re not just paying for someone to do your books. You’re buying peace of mind and confidence to make bigger moves in your business.
AI is here to stay—use it wisely
Here’s the truth: AI isn’t the villain. It’s an incredibly powerful sidekick – the Robin to your Batman, if you will. Imagine being able to offload all that repetitive data entry so your advisor can dive into high-level strategy.
But that only works when you pair AI with a trusted human partner. If Bench’s story taught us anything, it’s this:
Make sure you know who is behind the technology.
Choose expertise over a rock-bottom price tag.
Keep an actual human in your corner—someone who’s been there and gets your specific financial challenges.
Your next step: Don’t leave your finances to chance
If you’re rethinking your relationship with your current bookkeeping platform—good. This is your chance to break free from the “cheaper is better” trap and put your money where it actually counts: in building a partnership with a real-life expert.
Ready to talk specifics? Let’s discuss how we can integrate the best AI tools and real human smarts to keep your books pristine, your taxes optimized, and your business on a solid footing.
Talk to a Human (Us!)
Want to know how a qualified tax and accounting pro can bring clarity and confidence to your finances—while still leveraging the best of AI? Reach out to our firm for real advice. It’s time to invest in your business’s financial future without getting blindsided by the next “cheap solution” meltdown.
More About Us
Get to Know Prestige Accounting Services Group (previously Prestige Wealth Accounting Group)
Offices in Flemington, NJ and Califon, NJ
Our Mission: At Prestige Accounting Services Group (previously Prestige Wealth Accounting Group), we are on a mission to redefine the tax experience for individuals and small businesses. With a focus on personalized service, strategic planning, and expert guidance, we aim to empower our clients to succeed financially with confidence and ease.
Expertise in Action: With a wealth of experience and a team of dedicated professionals, we specialize in individual and small business tax preparation. While we excel in all areas of taxation, our passion lies in serving the unique needs of small business owners in New Jersey. We understand that small business taxation requires specialized knowledge and attention to detail, which is why we go above and beyond to ensure our clients receive the guidance and support they deserve.
Tailored Solutions for Every Client: Whether you're a high-net-worth individual seeking comprehensive tax planning or a small business owner in need of accounting and bookkeeping assistance, we have the expertise to meet your needs. Our team takes the time to understand your specific situation and develop customized solutions that align with your goals and objectives.
Why Choose Us?: What sets us apart from other New Jersey tax firms is our commitment to excellence and innovation in the field of taxation. We don't just prepare tax returns; we provide strategic insights, proactive planning, and actionable advice to help our clients achieve their financial goals. With a team of two CPAs, an EA, and an ERO, we have the expertise and resources to deliver exceptional service and results.
Your Success is Our Priority: At Prestige Accounting Services Group (previously Prestige Wealth Accounting Group), we measure our success by the success of our clients. We are dedicated to building long-lasting relationships, providing unparalleled service, and helping our clients thrive in today's ever-changing tax landscape.
We can't wait for you to experience the Prestige Accounting Services Group (previously Prestige Wealth Accounting Group) difference.
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