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Artificial intelligence has moved beyond experimentation and into the operational core of modern businesses. Companies are no longer asking whether AI belongs in their workflows. They are evaluating how deeply it should be integrated. Accounting is one of the areas where this shift has the greatest impact. Financial data influences hiring decisions, expansion
Franchise systems depend on financial consistency. Every franchisee operates under the same brand, pricing model, operational framework, and unit economics. However, without standardized and accurate bookkeeping across locations, franchisors lose visibility into system performance, unit economics, and financial benchmarks. Accurate bookkeeping at the franchisee level is not only an operational necessity. It directly
Accounting is a core part of running a business. It affects how performance is measured, how decisions are made, and how confidently a business can plan. As businesses have grown more complex, the way accounting is handled has evolved as well. Today, there are different models for managing accounting work. Traditional accounting and
For many SaaS businesses, bookkeeping starts as an internal task. A founder handles it. An ops lead owns it part-time. Eventually, a junior hire takes it on. That approach works until the business scales. As subscriptions grow, transactions multiply, and revenue models become more complex, bookkeeping stops being a background task and starts
Bookkeeping usually falls behind in small, quiet ways. A month is skipped. Reconciliations stop. Transactions pile up in uncategorized accounts. Reports still exist, but they stop being reviewed because they no longer feel dependable. At the start of 2026, catch-up bookkeeping matters because it restores accuracy. That accuracy directly affects financing, cash flow,
Across invoicing and payment platforms, business owners are increasingly seeing a simple prompt: “Get paid now.” It appears helpful. Immediate cash. No application. No paperwork. Just a click. What many business owners don’t realize is that these offers are often a form of embedded invoice factoring, and the long-term cost is rarely obvious
Summary: As businesses become more profitable, choosing the right tax structure becomes an important planning decision. This blog explains when electing S Corporation status makes sense, how it works, and why timing matters. It breaks down the potential tax benefits, eligibility considerations, and steps involved in making the switch, while emphasizing the importance
The new partnership between Xendoo and Boundless AI bridges the gap between clean, up-to-date books and smart, accessible funding. Business owners gain accurate financials, real-time insights, and priority access to over 150 trusted lenders, all in one place. Together, Xendoo and Boundless AI help small businesses stay organized, secure capital faster, and make
Why Small Businesses Need Bookkeeping Services in a Changing Economy For many business owners, the economy feels uncertain. With unexpected market shifts, rising tariffs on outsourced goods, and steadily increasing costs, the path forward may feel uncertain. In moments like these, the pressure of every decision intensifies, yet the expectations remain. You are
Why Business Tax Planning Matters Welcome to the ultimate Business Owner’s Guide to Paying Less in Taxes. Many small business owners overpay in taxes simply because they miss out on deductions, tax credits, and strategic tax planning opportunities. Whether you’re a freelancer, eCommerce entrepreneur, or agency owner, this guide will help you understand
Key Takeaways from the Webinar Our CEO and founder recently joined the Better Business Bureau (BBB) of South Florida for a webinar packed with practical accounting, bookkeeping, and small business tax write-off tips for small business owners. Whether you’re a startup, an e-commerce entrepreneur, or scaling your professional services, this webinar offers valuable
Tax write-offs are one of the most effective tools small business owners can use to reduce taxable income and keep more money in their business. But tracking and maximizing these deductions requires a strategic, year-round approach. This guide will help you understand tax write-offs, common mistakes, and practical strategies to ensure you’re not
What Is a Fractional CFO, and Do I Need One? As your business grows, so do its financial complexities. You may find yourself needing more strategic financial guidance than a bookkeeper or accountant can provide but aren’t ready to hire a full-time Chief Financial Officer (CFO). This is where a fractional CFO can
Small Business Resolutions The beginning of a new year is a natural time for reflection and goal-setting, and this applies to businesses just as much as individuals. For small business owners, 2025 is full of opportunities to strengthen operations, build deeper customer connections, and achieve new milestones. To help you make the most
When it comes to taxes, small business owners often think about planning in January. But waiting until the new year to act could mean missing out on critical opportunities to save on 2025 taxes. According to Louis Goldenberg, Director of Tax at xendoo, effective tax planning begins in 2024. Taking action before the
Schedule Your Tax Planning Call Now | Maximize Year-End Savings As the year draws to a close, small business owners face countless priorities, from meeting financial goals to preparing for the new year. However, one task that shouldn’t be overlooked is tax planning. Schedule your tax planning call now to maximize year-end savings
Businesses can grow quickly, and when that happens, keeping your financials and data in order becomes crucial. Potential buyers want transparency and assurance that your business is running smoothly. That’s where exit planning comes in. By managing your business from day one as if you were going to sell it, you set yourself
Running an eCommerce store on Shopify is exciting, but with growth comes responsibility—especially when it comes to accounting. Whether you’re tracking inventory, managing payments, or keeping up with tax requirements, staying on top of your finances can quickly become overwhelming. But with the right approach, you can simplify your Shopify accounting process and
You’ve been in business for a while, and your next steps require you to obtain a small business loan. Your lender responds to your request favorably but asks to see your company’s recent balance sheet. With little experience in reading financial statements, this request makes you freeze in your tracks, uncertain of how
Why the BOI Report Matters As a small business owner, staying compliant with regulations is important to your company’s health. Beyond compliance, understanding the Beneficial Ownership Information (BOI) Report can provide critical insights into your business environment. The BOI Report, mandated by the Corporate Transparency Act (CTA), is designed to increase transparency in
Managing business finances can be challenging, especially when traditional accounting solutions force you into rigid systems and long-term commitments. In today’s world, flexibility and adaptability are crucial for small business owners. Small business owners often struggle with inaccurate bookkeeping, messy tax preparation, or worse—financial mismanagement that can cost them thousands. The reality is
Cybersecurity 101 for Small Businesses: Essential Tips to Protect Your Data In today’s digital age, even the smallest businesses are vulnerable to cyberattacks. Cybercriminals always seek opportunities to exploit weaknesses, whether it’s customer information, payment details, or sensitive business data. For small business owners, understanding cybersecurity basics can be the difference between safeguarding
Data-driven decision-making is crucial for small businesses looking to grow and streamline operations. By leveraging data for small business growth, you can transform how you manage customer trends, sales, and finances. This guide will show you how to leverage data to grow your business, streamline operations, and stay ahead of the competition. The
Financial forecasting is a vital aspect of running a successful small business. It involves predicting future financial performance based on historical data, current trends, and strategic plans. Effective forecasting relies on accurate bookkeeping and thoughtful analysis. Implementing these top five bookkeeping tips will help you enhance your financial forecasting, make informed decisions, and
Maximizing tax savings is essential for any business aiming to optimize its financial health. By strategically leveraging tax-saving opportunities, you can reduce your taxable income, improve your cash flow, and allow you to reinvest in your business. Here are seven effective ways to enhance your tax savings: 1. Change Your Business Structure Changing
In the world of professional services, time is money. Whether you’re a consultant, lawyer, accountant, marketer, or other service provider, your business revolves around selling your time and expertise. So, how can you increase profitability without simply raising your rates? The answer lies in optimizing how you use your time, enhancing productivity, and
As a business owner, one of the most crucial decisions you’ll make is choosing the type of business model that aligns with your personal and professional goals. Should you focus on creating a lifestyle business that offers a balanced work-life dynamic, or is your ambition geared towards a growth business that seeks rapid
The 21st century has brought rapid changes to how businesses operate, and your customers expect you to keep pace. But are your business operations meeting those expectations, or are you still operating with yesterday’s tools? Let’s explore your front and back offices to find out if you’re soaring with the times or lagging.
Bookkeeping is the cornerstone of a successful firm, ensuring compliance and financial stability crucial for growth. For small to medium-sized businesses (SMBs), maintaining accurate and timely financial records is not only a legal requirement but also a strategic necessity for future planning and informed decision-making. However, the complexity of accounting tasks, from tracking
In the ever-evolving business landscape, small to medium-sized businesses (SMBs) are increasingly adopting innovative tools to streamline operations and enhance financial management. One crucial determinant of success for any SMB is how it handles its monthly finances. Good accounting practices not only conform a business to regulations but also create valuable information that
As tax season approaches, getting your financial documents and records in order is crucial to ensure a smooth and accurate filing process. Here’s a step-by-step guide to help you prepare effectively: Obtain Your W-3 Form: Your W-3 form consolidates all individual W-2 forms, reporting employee wages and tax withholdings into one comprehensive
As the election cycle approaches, small business owners must take proactive steps to ensure their businesses remain resilient regardless of the outcome. While the election period can bring uncertainty, strategic planning and sound financial management can help you navigate it successfully. Here’s how small businesses can prepare for the upcoming election and thrive
Technological advancements have continuously reshaped the business landscape, pushing industries into new realms of efficiency and innovation. Understanding these waves—each marked by distinct technological breakthroughs—is crucial for small businesses aiming to thrive in today’s digital era. The Four Waves of Technological Change and Their Impact on Businesses The First Wave: The Industrial Revolution
As small and medium-sized businesses (SMBs) strive to grow and expand, precise financial management becomes increasingly critical. Among the myriad of tasks business owners juggle daily, bookkeeping stands out as a fundamental component that can significantly impact the company’s ability to scale. When done correctly, bookkeeping not only ensures compliance and financial stability
The Value of KPIs for Small Businesses In the business landscape, It may be difficult to succeed in the ever-changing business world, particularly for small and medium-sized enterprises (SMEs). A well-defined strategy is crucial for these small enterprises, the backbone of our economy. However, these smaller companies often face significant challenges on the
In today’s fast-paced business world, small to medium-sized businesses (SMBs) use innovative tools to streamline operations and improve financial management. Cloud-based accounting solutions are leading this shift, offering SMBs a way to simplify their processes and gain better financial insights. Why Switch to Cloud Accounting? Cloud accounting uses web-based software to manage your
In today’s business landscape, small business owners face the challenge of navigating through financial uncertainties to secure a prosperous future for their enterprises. At the heart of this challenge lies the need for adequate financial forecasting. This tool goes beyond mere prediction as a strategic compass guiding businesses toward stability and growth. Recognizing
It is exciting to start a business, but beyond having a great idea, one needs to work out many things as well. Small and medium-sized enterprises (SMEs) frequently need help shaping their brand in a constantly changing environment where invention, market comprehension, and efficient management are key factors. One crucial thing that may
Starting and running an e-commerce business has many fun and exciting aspects, like seeing your target customer segment latch onto your newest product offering or receiving glowing reviews. One less fun aspect of e-commerce is sales tax. This blog post explains e–commerce sales tax and provides a compliance guide. However, dealing with this
As the April 15th tax deadline approaches, small business owners are on a tight schedule to get their financial books in order and finalize their tax filings. Timely tax preparation ensures compliance with the Internal Revenue Service (IRS) and can maximize potential tax savings. This becomes a critical period in business, and specific
As a small business owner, understanding that financial risk management is essential to ensure the long-term success and sustainability of the business well into the future is paramount. By understanding and actively mitigating financial risks, businesses can safeguard their assets, maintain stability during economic fluctuations, and seize growth opportunities. Examples of financial risks,
From managing cash flow to securing funding, navigating financial obligations is a daily reality for small businesses in a rapidly evolving entrepreneurial ecosystem. From operational expenses to emergency bills, debt often piles up on even the best small ventures. A large part of business success is in the management of its finances. Debt
Managing an eCommerce business extends beyond the simple transaction of goods online. Unlike traditional businesses, eCommerce accounting involves unique challenges, like managing inventory costs, tracking marketing spending across multiple channels, and dealing with complex tax regulations. These complexities can leave you needing help to make sense of your finances and unsure of your
Small business financing is vital as it can make or break your business. When first starting, there are many factors that you need to consider, such as your business plan and your financing options. When creating your business plan, it should outline your goals and objectives to have a clear idea of how
The end of the year is a hectic time for small business owners. Between catching your breath after tax season and managing holiday sales, year-end bookkeeping and accounting tasks understandably fall to the bottom of the to-do list. xendoo is here to help you avoid the year-end scramble. Check out our year-end bookkeeping
This article was updated on October 19, 2022 with new links, resources, and templates. Bank reconciliation may sound like a daunting task for a business owner, especially those without an accounting background. As a business owner who already has too many tasks and not enough time, you may overlook or put off this
Doing payroll may not be your favorite part of running a business. If you haven’t yet, the first step is to learn how to set up payroll. It can be quite bureaucratic juggling all these forms—whether it’s a W-2, W-9, W-4, or something else—and by the end, you might not even know where to
When running a small business, you’ll want to track revenue and profit. What is revenue vs. profit? Is one metric more important than the other? While revenue and profit measure your business’s financial performance in different ways, the two metrics are closely intertwined. They are often used to gain a better understanding of
Small business expense tracking can be tedious, but it’s one that all companies–from “mom and pop” shops to international enterprises–must do. Fortunately, business expense tracking apps make the job easier. An app is ideal if you have a business with many employees, sales, and tax considerations. For some small businesses, however, paying a
Since starting your business, you’ve likely filled multiple roles–from product and customer service to bookkeeping and sales–at some point. However, as your business has grown, you may have felt like you don’t want to spend your time doing some of those tasks. For instance, you’ve probably asked yourself: Should I outsource bookkeeping? Whether
Whether they coach chess players or sell organic puppy food online, every small business owner shares a common driving force: a passion for growing their business. Increasing sales and gaining new customers is one part of the equation. Consistent bookkeeping provides the financial insight needed to strategize for long-term success. With so many
Tracking business expenses is one of the smartest things you can do to take control of your company’s finances. With better organization, you’ll find that your business is more streamlined and profitable, and you’ll be dealing with fewer headaches when tax season rolls around. If you ever find yourself facing an IRS audit,
When making a major purchase for your business, you are expected to spread the tax deduction out over the lifespan of that purchase, which provides small tax savings over the years. But, why wait? Business owners can take advantage of Bonus Depreciation and Section 179 to invest in their businesses, resulting in an
As we begin Breast Cancer Awareness Month, we spoke with xendoo COO and breast cancer survivor, Julia Aquino. She was diagnosed with breast cancer in 2012. She knew that she needed a deep understanding of the disease in order to make the best decisions for her health, while also running a successful business.
Running your own business can be tough. Between handling staffing issues, overseeing the procurement of essential resources, and planning your next marketing campaign, you might be stretched thin — not to mention all of that dreaded accounting work that you have to do to keep your books up to date! Like many other
National Women’s Small Business Month celebrates women’s achievements in business, and highlights what they bring to their communities as small business owners. We took a moment to interview xendoo founder and CEO Lil Roberts, to get insight into what it takes to be a successful entrepreneur, and the importance of women leading in
Where to Begin? Businesses are created because business owners have a passion that needs to be pursued. They may be changing the world and even their own lives. Payroll, however, is most likely not their passion. Yet, every business owner faces the unique challenge of figuring out how to pay themselves. Paying yourself
When you’re running a business, keeping track of all of the financial terms can be enough to give you a headache! But two of the most important terms that will affect you are your cash flow and your profit. Cash flow refers to the net flow of cash in and out of a
Small businesses are making the leap into digitalization to respond to evolving consumer behavior and expectations, adapting to new working norms, putting data to work to drive performance and building business resiliency.
There are a lot of things people don’t tell you about being a small business owner before you get started. Between serving customers, managing employees, keeping your books up to date, and struggling to build the reputation of your brand, it’s a constant process of learning on the job. Also, you probably didn’t
Editor’s Note: This post was originally published in November 2019 and has been revamped and updated for accuracy and comprehensiveness. As the owner of a new real estate business, you’re probably aware of the unique characteristics of your industry. You take a personal interest in the real estate market, and you are excited
Editor’s Note: This post was originally published in September 2019 and has been revamped and updated for accuracy and comprehensiveness. As a busy restaurateur, it’s easy to push restaurant bookkeeping tasks to the bottom of your priority list. After all, you have better things to do – right? Not so fast. Restaurant bookkeeping
Editor’s Note: This post was originally published in June 2018 and has been revamped and updated for accuracy and comprehensiveness. Let’s face it, bookkeeping for a business in the real estate industry is complicated. That holds true whether your niche is sales, management, construction, or tax and legal services. Unlike some other types
Ready to start selling your products online? Or have you already built a web presence and you’re looking to expand? From marketplaces like Etsy to building and hosting your own website on Squarespace or Shopify, small businesses have plenty of platforms to sell their products online. But eventually, most professional sellers find themselves
In recent years, we’ve seen a reopening of the debate over minimum wage. Advocates are currently pushing for an increase to $15.00 per hour by 2026, with the door open to possible increases in the years after that. If you’re a worker, this is good news. A slight bump in the Florida minimum
Becoming a third-party seller on Amazon is an exciting opportunity for many small businesses. After evaluating the pros and cons of selling on Amazon, you may decide to go with an Amazon FBA (Fulfilled by Amazon) account. You’ll pay a fee to use Amazon’s warehouses, packaging and shipping, and customer service. One thing
Florida is among the most tax-friendly states in America and has seen huge growth, especially in their tech economy. If you have a small or midsize business in the state of Florida, you may be shielded from many typical forms of small business taxes. But how can you know which tax laws apply to
Is getting people to pay their invoice balance a challenging part of running your own business? You are not alone. According to a report in Entrepreneur, on average, small businesses had $84,000 in unpaid invoices. Waiting weeks and sometimes months for the checks to arrive and managing cash flow in the meantime can
Between accounting for all of your potential deductions and reporting them all accurately, it’s important to have a professional who can help make sure you don’t miss anything. Here’s seven tips to help you get everything mise en place come tax time.
As a small business owner, you want to keep your head in the game. After all, you started your business because you’re passionate about the work you do, and you want to connect your products and services to customers. So why are you trying to juggle your own books? We understand the pressures
This past year has been incredibly hard on retailers, especially small businesses. Retail sales plunged more than 20% between February and April last year, but with pandemic restrictions easing, the industry is starting to recover. As folks are venturing out more, it’s the perfect time to refresh yourself and your sales associates on tips
Editor’s Note: This post was originally published in February 2017 and has been revamped and updated for accuracy and comprehensiveness. It’s no secret that the restaurant business is tough, even in the best of times. Really tough. Even before the COVID-19 shutdowns, industry analysts estimate the failure rate for new restaurants in the
Remember back when you had to decide on a name to register your new business, forming a limited liability company—LLC? Now your small business has grown up thanks to your hard work and dedication. You may have outgrown your current legal status and it’s time to change from an LLC to S Corp
You’ve set up your online store set, and orders are starting to come in. But in your rush to pack, ship, and sell, there’s a good chance you haven’t made time to integrate accounting software with your eCommerce software. By downloading a third-party app plug-in, you are just a few clicks away from
Small business owners are notoriously short on time. They manage everything from sales and marketing to employee scheduling and benefits, not to mention being an expert in whatever good or service it is that their business offers. And there are hurdles every step of the way as you try to grow your business.
Editor’s Note: This post was originally published in October 2017 and has been updated for accuracy and comprehensiveness. As a fitness franchise owner, you know the challenges of getting new members through the door, even in the best of times. It’s never been easy, but the fitness industry has been one of the
Author’s Note: This was updated on Dec 13, 2021, with new information and resources for small business owners. Nearly 25% of businesses are behind on their books and nearly 41% of business owners try to do their bookkeeping themselves. It happens easily— you fall a month or two behind, then by the time
Editor’s Note: This post was originally published in October 2017 and has been updated for accuracy and comprehensiveness. If you’re like most salon owners, the chances are good that you decided to start a hair salon because you love meeting new people and helping them feel more beautiful than when they walked in
Just like a traditional brick-and-mortar business, your eCommerce business needs a good bookkeeping system for essential functions like tracking revenues and expenditures and filing tax returns. There are a lot of compelling reasons you need a bookkeeper, and for most small businesses, it’s generally more cost-effective to outsource the accounting and bookkeeping services
There are different types of bookkeeping services for small businesses. You can handle it all yourself, utilizing software like Quickbooks and Xero; hire a part-time small business bookkeeper; or opt for a full-service bookkeeping service like xendoo that can handle it all for you. What are the different types of bookkeeping services for
Yes, the IRS has entered the digital age! They offer several ways to pay your tax online. Direct Pay with Bank Account There’s no service charge to have the money taken directly from your bank. To make a payment or look up a payment you already made, go to the Direct Pay page
Do you run a business that charges clients by the hour? Whether you’re an accountant, lawyer, designer, or consultant and you’re ready to expand – or hope to one day – there are a few things to consider to make sure your growth strategy is profitable. Let’s start with the basics… How does
There’s no doubt about it, sales tax is getting more complicated for all e-commerce businesses. Ever since the 2018 Supreme Court ruling on South Dakota v. Wayfair, U.S. states have been free to make their own tax nexus rules. No longer is it just about having a physical presence in the state —
Bookkeeping and accounting keep your small business ship sailing. But, do you know the difference between the two? Are you familiar with how each can benefit your business when done properly? Do you have a clear understanding of how both disciplines impact your small business taxes? Well if not, allow us to clear
What do you do when Form 1040 (federal income tax return) doesn’t give you the opportunity to fill in your particular type of income or deductions? The answer is, you attach the appropriate schedule. What’s a Schedule? It’s a separate form that’s designed to meet your circumstances, allowing you to report or claim
If you’re a retailer or similar business, you don’t have to pay sales tax on the goods and services you purchase for the purpose of reselling, renting, or leasing them. Example 1: Your business sells brand name bicycles to the public. You don’t pay sales tax when you buy those bicycles from the manufacturers.
Whether you’re a brick-and-mortar business located in Florida or an e-commerce seller who ships to customers in the state, one hassle you can’t get away from is collecting and remitting the state sales tax. The first thing you need to know is that Florida is a destination-based sales tax state. That means you’ll
What is Form 1040? This is the Individual Tax Return for U.S. citizens. The 2018 form has been redesigned, so if you used to file 1040A or 1040EZ in previous years, you will now use Form 1040. Along with it, there are 6 new Schedules for declaring specific circumstances: Schedule 1: Report additional income
Is it time to purchase the commercial property you’ve been leasing? If you’re a small business owner who currently rents office or retail space, you could be in a position to benefit from becoming an owner. Of course, the decision to own or rent will depend on a number of factors unique to
Just like spring cleaning your house, your business needs a good tidying and updating once a year. Make December the month you get organized, focused, ready and able to create more success than ever in 2019. Catch up on your bookkeeping.
You know you have the inspiration and the drive to launch a business. But it takes more than that to survive and thrive over the long term. Here’s what you should know to make sure it starts off in the right direction and keeps on going that way. What is the ultimate goal?
Does this sound like you? You offer great quality service, you have an excellent customer base, but you’re still making very little if any, profit. There could be many reasons for this, but one of the most frequent is that you’re not charging enough. Here’s how to stop undervaluing yourself and get the
As a professional services provider, did you know that the way you price your services is actually part of your overall marketing strategy? Whether you’re an accountant, lawyer, or business coach — if you’re pricing your services without thinking it all the way through, you could be underselling or underachieving the goals you’ve
Every business has to spend money in order to make money. Here’s how to keep those ongoing expenses from getting too high and impacting your bottom line. Take a fresh look at every single expense. Chances are, some of them have become a habit but can now be either eliminated or achieved in
Small business owners know that every penny counts when paying taxes. The difference between a high and low tax burden can significantly impact a small business’s likelihood of survival. That is why picking the right city to base a business operation is important for entrepreneurial success. From small cities to major ones, certain
A/B Testing: What It Is, Why It Matters, and How to Nail It When you’re running a business, every decision counts. Whether it’s choosing a website design, crafting a catchy headline, or deciding on a marketing strategy, you want to be sure you’re making the right call. That’s where A/B testing comes in.
Artificial intelligence has moved beyond experimentation and into the operational core of modern businesses. Companies are no longer asking whether AI belongs in their workflows. They are evaluating how deeply it should be integrated. Accounting is one of the areas where this shift has the greatest impact. Financial data influences hiring decisions, expansion
Franchise systems depend on financial consistency. Every franchisee operates under the same brand, pricing model, operational framework, and unit economics. However, without standardized and accurate bookkeeping across locations, franchisors lose visibility into system performance, unit economics, and financial benchmarks. Accurate bookkeeping at the franchisee level is not only an operational necessity. It directly
Accounting is a core part of running a business. It affects how performance is measured, how decisions are made, and how confidently a business can plan. As businesses have grown more complex, the way accounting is handled has evolved as well. Today, there are different models for managing accounting work. Traditional accounting and
For many SaaS businesses, bookkeeping starts as an internal task. A founder handles it. An ops lead owns it part-time. Eventually, a junior hire takes it on. That approach works until the business scales. As subscriptions grow, transactions multiply, and revenue models become more complex, bookkeeping stops being a background task and starts
Bookkeeping usually falls behind in small, quiet ways. A month is skipped. Reconciliations stop. Transactions pile up in uncategorized accounts. Reports still exist, but they stop being reviewed because they no longer feel dependable. At the start of 2026, catch-up bookkeeping matters because it restores accuracy. That accuracy directly affects financing, cash flow,
Across invoicing and payment platforms, business owners are increasingly seeing a simple prompt: “Get paid now.” It appears helpful. Immediate cash. No application. No paperwork. Just a click. What many business owners don’t realize is that these offers are often a form of embedded invoice factoring, and the long-term cost is rarely obvious
Summary: As businesses become more profitable, choosing the right tax structure becomes an important planning decision. This blog explains when electing S Corporation status makes sense, how it works, and why timing matters. It breaks down the potential tax benefits, eligibility considerations, and steps involved in making the switch, while emphasizing the importance
The new partnership between Xendoo and Boundless AI bridges the gap between clean, up-to-date books and smart, accessible funding. Business owners gain accurate financials, real-time insights, and priority access to over 150 trusted lenders, all in one place. Together, Xendoo and Boundless AI help small businesses stay organized, secure capital faster, and make
Why Small Businesses Need Bookkeeping Services in a Changing Economy For many business owners, the economy feels uncertain. With unexpected market shifts, rising tariffs on outsourced goods, and steadily increasing costs, the path forward may feel uncertain. In moments like these, the pressure of every decision intensifies, yet the expectations remain. You are
Why Business Tax Planning Matters Welcome to the ultimate Business Owner’s Guide to Paying Less in Taxes. Many small business owners overpay in taxes simply because they miss out on deductions, tax credits, and strategic tax planning opportunities. Whether you’re a freelancer, eCommerce entrepreneur, or agency owner, this guide will help you understand
Key Takeaways from the Webinar Our CEO and founder recently joined the Better Business Bureau (BBB) of South Florida for a webinar packed with practical accounting, bookkeeping, and small business tax write-off tips for small business owners. Whether you’re a startup, an e-commerce entrepreneur, or scaling your professional services, this webinar offers valuable
Tax write-offs are one of the most effective tools small business owners can use to reduce taxable income and keep more money in their business. But tracking and maximizing these deductions requires a strategic, year-round approach. This guide will help you understand tax write-offs, common mistakes, and practical strategies to ensure you’re not
What Is a Fractional CFO, and Do I Need One? As your business grows, so do its financial complexities. You may find yourself needing more strategic financial guidance than a bookkeeper or accountant can provide but aren’t ready to hire a full-time Chief Financial Officer (CFO). This is where a fractional CFO can
Small Business Resolutions The beginning of a new year is a natural time for reflection and goal-setting, and this applies to businesses just as much as individuals. For small business owners, 2025 is full of opportunities to strengthen operations, build deeper customer connections, and achieve new milestones. To help you make the most
When it comes to taxes, small business owners often think about planning in January. But waiting until the new year to act could mean missing out on critical opportunities to save on 2025 taxes. According to Louis Goldenberg, Director of Tax at xendoo, effective tax planning begins in 2024. Taking action before the
Schedule Your Tax Planning Call Now | Maximize Year-End Savings As the year draws to a close, small business owners face countless priorities, from meeting financial goals to preparing for the new year. However, one task that shouldn’t be overlooked is tax planning. Schedule your tax planning call now to maximize year-end savings
Businesses can grow quickly, and when that happens, keeping your financials and data in order becomes crucial. Potential buyers want transparency and assurance that your business is running smoothly. That’s where exit planning comes in. By managing your business from day one as if you were going to sell it, you set yourself
Running an eCommerce store on Shopify is exciting, but with growth comes responsibility—especially when it comes to accounting. Whether you’re tracking inventory, managing payments, or keeping up with tax requirements, staying on top of your finances can quickly become overwhelming. But with the right approach, you can simplify your Shopify accounting process and
You’ve been in business for a while, and your next steps require you to obtain a small business loan. Your lender responds to your request favorably but asks to see your company’s recent balance sheet. With little experience in reading financial statements, this request makes you freeze in your tracks, uncertain of how
Why the BOI Report Matters As a small business owner, staying compliant with regulations is important to your company’s health. Beyond compliance, understanding the Beneficial Ownership Information (BOI) Report can provide critical insights into your business environment. The BOI Report, mandated by the Corporate Transparency Act (CTA), is designed to increase transparency in
Managing business finances can be challenging, especially when traditional accounting solutions force you into rigid systems and long-term commitments. In today’s world, flexibility and adaptability are crucial for small business owners. Small business owners often struggle with inaccurate bookkeeping, messy tax preparation, or worse—financial mismanagement that can cost them thousands. The reality is
Cybersecurity 101 for Small Businesses: Essential Tips to Protect Your Data In today’s digital age, even the smallest businesses are vulnerable to cyberattacks. Cybercriminals always seek opportunities to exploit weaknesses, whether it’s customer information, payment details, or sensitive business data. For small business owners, understanding cybersecurity basics can be the difference between safeguarding
Data-driven decision-making is crucial for small businesses looking to grow and streamline operations. By leveraging data for small business growth, you can transform how you manage customer trends, sales, and finances. This guide will show you how to leverage data to grow your business, streamline operations, and stay ahead of the competition. The
Financial forecasting is a vital aspect of running a successful small business. It involves predicting future financial performance based on historical data, current trends, and strategic plans. Effective forecasting relies on accurate bookkeeping and thoughtful analysis. Implementing these top five bookkeeping tips will help you enhance your financial forecasting, make informed decisions, and
Maximizing tax savings is essential for any business aiming to optimize its financial health. By strategically leveraging tax-saving opportunities, you can reduce your taxable income, improve your cash flow, and allow you to reinvest in your business. Here are seven effective ways to enhance your tax savings: 1. Change Your Business Structure Changing
In the world of professional services, time is money. Whether you’re a consultant, lawyer, accountant, marketer, or other service provider, your business revolves around selling your time and expertise. So, how can you increase profitability without simply raising your rates? The answer lies in optimizing how you use your time, enhancing productivity, and
As a business owner, one of the most crucial decisions you’ll make is choosing the type of business model that aligns with your personal and professional goals. Should you focus on creating a lifestyle business that offers a balanced work-life dynamic, or is your ambition geared towards a growth business that seeks rapid
The 21st century has brought rapid changes to how businesses operate, and your customers expect you to keep pace. But are your business operations meeting those expectations, or are you still operating with yesterday’s tools? Let’s explore your front and back offices to find out if you’re soaring with the times or lagging.
Bookkeeping is the cornerstone of a successful firm, ensuring compliance and financial stability crucial for growth. For small to medium-sized businesses (SMBs), maintaining accurate and timely financial records is not only a legal requirement but also a strategic necessity for future planning and informed decision-making. However, the complexity of accounting tasks, from tracking
In the ever-evolving business landscape, small to medium-sized businesses (SMBs) are increasingly adopting innovative tools to streamline operations and enhance financial management. One crucial determinant of success for any SMB is how it handles its monthly finances. Good accounting practices not only conform a business to regulations but also create valuable information that
As tax season approaches, getting your financial documents and records in order is crucial to ensure a smooth and accurate filing process. Here’s a step-by-step guide to help you prepare effectively: Obtain Your W-3 Form: Your W-3 form consolidates all individual W-2 forms, reporting employee wages and tax withholdings into one comprehensive
As the election cycle approaches, small business owners must take proactive steps to ensure their businesses remain resilient regardless of the outcome. While the election period can bring uncertainty, strategic planning and sound financial management can help you navigate it successfully. Here’s how small businesses can prepare for the upcoming election and thrive
Technological advancements have continuously reshaped the business landscape, pushing industries into new realms of efficiency and innovation. Understanding these waves—each marked by distinct technological breakthroughs—is crucial for small businesses aiming to thrive in today’s digital era. The Four Waves of Technological Change and Their Impact on Businesses The First Wave: The Industrial Revolution
As small and medium-sized businesses (SMBs) strive to grow and expand, precise financial management becomes increasingly critical. Among the myriad of tasks business owners juggle daily, bookkeeping stands out as a fundamental component that can significantly impact the company’s ability to scale. When done correctly, bookkeeping not only ensures compliance and financial stability
The Value of KPIs for Small Businesses In the business landscape, It may be difficult to succeed in the ever-changing business world, particularly for small and medium-sized enterprises (SMEs). A well-defined strategy is crucial for these small enterprises, the backbone of our economy. However, these smaller companies often face significant challenges on the
In today’s fast-paced business world, small to medium-sized businesses (SMBs) use innovative tools to streamline operations and improve financial management. Cloud-based accounting solutions are leading this shift, offering SMBs a way to simplify their processes and gain better financial insights. Why Switch to Cloud Accounting? Cloud accounting uses web-based software to manage your
In today’s business landscape, small business owners face the challenge of navigating through financial uncertainties to secure a prosperous future for their enterprises. At the heart of this challenge lies the need for adequate financial forecasting. This tool goes beyond mere prediction as a strategic compass guiding businesses toward stability and growth. Recognizing
It is exciting to start a business, but beyond having a great idea, one needs to work out many things as well. Small and medium-sized enterprises (SMEs) frequently need help shaping their brand in a constantly changing environment where invention, market comprehension, and efficient management are key factors. One crucial thing that may
Starting and running an e-commerce business has many fun and exciting aspects, like seeing your target customer segment latch onto your newest product offering or receiving glowing reviews. One less fun aspect of e-commerce is sales tax. This blog post explains e–commerce sales tax and provides a compliance guide. However, dealing with this
As the April 15th tax deadline approaches, small business owners are on a tight schedule to get their financial books in order and finalize their tax filings. Timely tax preparation ensures compliance with the Internal Revenue Service (IRS) and can maximize potential tax savings. This becomes a critical period in business, and specific
As a small business owner, understanding that financial risk management is essential to ensure the long-term success and sustainability of the business well into the future is paramount. By understanding and actively mitigating financial risks, businesses can safeguard their assets, maintain stability during economic fluctuations, and seize growth opportunities. Examples of financial risks,
From managing cash flow to securing funding, navigating financial obligations is a daily reality for small businesses in a rapidly evolving entrepreneurial ecosystem. From operational expenses to emergency bills, debt often piles up on even the best small ventures. A large part of business success is in the management of its finances. Debt
Managing an eCommerce business extends beyond the simple transaction of goods online. Unlike traditional businesses, eCommerce accounting involves unique challenges, like managing inventory costs, tracking marketing spending across multiple channels, and dealing with complex tax regulations. These complexities can leave you needing help to make sense of your finances and unsure of your
Small business financing is vital as it can make or break your business. When first starting, there are many factors that you need to consider, such as your business plan and your financing options. When creating your business plan, it should outline your goals and objectives to have a clear idea of how
The end of the year is a hectic time for small business owners. Between catching your breath after tax season and managing holiday sales, year-end bookkeeping and accounting tasks understandably fall to the bottom of the to-do list. xendoo is here to help you avoid the year-end scramble. Check out our year-end bookkeeping
This article was updated on October 19, 2022 with new links, resources, and templates. Bank reconciliation may sound like a daunting task for a business owner, especially those without an accounting background. As a business owner who already has too many tasks and not enough time, you may overlook or put off this
Doing payroll may not be your favorite part of running a business. If you haven’t yet, the first step is to learn how to set up payroll. It can be quite bureaucratic juggling all these forms—whether it’s a W-2, W-9, W-4, or something else—and by the end, you might not even know where to
When running a small business, you’ll want to track revenue and profit. What is revenue vs. profit? Is one metric more important than the other? While revenue and profit measure your business’s financial performance in different ways, the two metrics are closely intertwined. They are often used to gain a better understanding of
Small business expense tracking can be tedious, but it’s one that all companies–from “mom and pop” shops to international enterprises–must do. Fortunately, business expense tracking apps make the job easier. An app is ideal if you have a business with many employees, sales, and tax considerations. For some small businesses, however, paying a
Since starting your business, you’ve likely filled multiple roles–from product and customer service to bookkeeping and sales–at some point. However, as your business has grown, you may have felt like you don’t want to spend your time doing some of those tasks. For instance, you’ve probably asked yourself: Should I outsource bookkeeping? Whether
Whether they coach chess players or sell organic puppy food online, every small business owner shares a common driving force: a passion for growing their business. Increasing sales and gaining new customers is one part of the equation. Consistent bookkeeping provides the financial insight needed to strategize for long-term success. With so many
Tracking business expenses is one of the smartest things you can do to take control of your company’s finances. With better organization, you’ll find that your business is more streamlined and profitable, and you’ll be dealing with fewer headaches when tax season rolls around. If you ever find yourself facing an IRS audit,
When making a major purchase for your business, you are expected to spread the tax deduction out over the lifespan of that purchase, which provides small tax savings over the years. But, why wait? Business owners can take advantage of Bonus Depreciation and Section 179 to invest in their businesses, resulting in an
As we begin Breast Cancer Awareness Month, we spoke with xendoo COO and breast cancer survivor, Julia Aquino. She was diagnosed with breast cancer in 2012. She knew that she needed a deep understanding of the disease in order to make the best decisions for her health, while also running a successful business.
Running your own business can be tough. Between handling staffing issues, overseeing the procurement of essential resources, and planning your next marketing campaign, you might be stretched thin — not to mention all of that dreaded accounting work that you have to do to keep your books up to date! Like many other
National Women’s Small Business Month celebrates women’s achievements in business, and highlights what they bring to their communities as small business owners. We took a moment to interview xendoo founder and CEO Lil Roberts, to get insight into what it takes to be a successful entrepreneur, and the importance of women leading in
Where to Begin? Businesses are created because business owners have a passion that needs to be pursued. They may be changing the world and even their own lives. Payroll, however, is most likely not their passion. Yet, every business owner faces the unique challenge of figuring out how to pay themselves. Paying yourself
When you’re running a business, keeping track of all of the financial terms can be enough to give you a headache! But two of the most important terms that will affect you are your cash flow and your profit. Cash flow refers to the net flow of cash in and out of a
Small businesses are making the leap into digitalization to respond to evolving consumer behavior and expectations, adapting to new working norms, putting data to work to drive performance and building business resiliency.
There are a lot of things people don’t tell you about being a small business owner before you get started. Between serving customers, managing employees, keeping your books up to date, and struggling to build the reputation of your brand, it’s a constant process of learning on the job. Also, you probably didn’t
Editor’s Note: This post was originally published in November 2019 and has been revamped and updated for accuracy and comprehensiveness. As the owner of a new real estate business, you’re probably aware of the unique characteristics of your industry. You take a personal interest in the real estate market, and you are excited
Editor’s Note: This post was originally published in September 2019 and has been revamped and updated for accuracy and comprehensiveness. As a busy restaurateur, it’s easy to push restaurant bookkeeping tasks to the bottom of your priority list. After all, you have better things to do – right? Not so fast. Restaurant bookkeeping
Editor’s Note: This post was originally published in June 2018 and has been revamped and updated for accuracy and comprehensiveness. Let’s face it, bookkeeping for a business in the real estate industry is complicated. That holds true whether your niche is sales, management, construction, or tax and legal services. Unlike some other types
Ready to start selling your products online? Or have you already built a web presence and you’re looking to expand? From marketplaces like Etsy to building and hosting your own website on Squarespace or Shopify, small businesses have plenty of platforms to sell their products online. But eventually, most professional sellers find themselves
In recent years, we’ve seen a reopening of the debate over minimum wage. Advocates are currently pushing for an increase to $15.00 per hour by 2026, with the door open to possible increases in the years after that. If you’re a worker, this is good news. A slight bump in the Florida minimum
Becoming a third-party seller on Amazon is an exciting opportunity for many small businesses. After evaluating the pros and cons of selling on Amazon, you may decide to go with an Amazon FBA (Fulfilled by Amazon) account. You’ll pay a fee to use Amazon’s warehouses, packaging and shipping, and customer service. One thing
Florida is among the most tax-friendly states in America and has seen huge growth, especially in their tech economy. If you have a small or midsize business in the state of Florida, you may be shielded from many typical forms of small business taxes. But how can you know which tax laws apply to
Is getting people to pay their invoice balance a challenging part of running your own business? You are not alone. According to a report in Entrepreneur, on average, small businesses had $84,000 in unpaid invoices. Waiting weeks and sometimes months for the checks to arrive and managing cash flow in the meantime can
Between accounting for all of your potential deductions and reporting them all accurately, it’s important to have a professional who can help make sure you don’t miss anything. Here’s seven tips to help you get everything mise en place come tax time.
As a small business owner, you want to keep your head in the game. After all, you started your business because you’re passionate about the work you do, and you want to connect your products and services to customers. So why are you trying to juggle your own books? We understand the pressures
This past year has been incredibly hard on retailers, especially small businesses. Retail sales plunged more than 20% between February and April last year, but with pandemic restrictions easing, the industry is starting to recover. As folks are venturing out more, it’s the perfect time to refresh yourself and your sales associates on tips
Editor’s Note: This post was originally published in February 2017 and has been revamped and updated for accuracy and comprehensiveness. It’s no secret that the restaurant business is tough, even in the best of times. Really tough. Even before the COVID-19 shutdowns, industry analysts estimate the failure rate for new restaurants in the
Remember back when you had to decide on a name to register your new business, forming a limited liability company—LLC? Now your small business has grown up thanks to your hard work and dedication. You may have outgrown your current legal status and it’s time to change from an LLC to S Corp
You’ve set up your online store set, and orders are starting to come in. But in your rush to pack, ship, and sell, there’s a good chance you haven’t made time to integrate accounting software with your eCommerce software. By downloading a third-party app plug-in, you are just a few clicks away from
Small business owners are notoriously short on time. They manage everything from sales and marketing to employee scheduling and benefits, not to mention being an expert in whatever good or service it is that their business offers. And there are hurdles every step of the way as you try to grow your business.
Editor’s Note: This post was originally published in October 2017 and has been updated for accuracy and comprehensiveness. As a fitness franchise owner, you know the challenges of getting new members through the door, even in the best of times. It’s never been easy, but the fitness industry has been one of the
Author’s Note: This was updated on Dec 13, 2021, with new information and resources for small business owners. Nearly 25% of businesses are behind on their books and nearly 41% of business owners try to do their bookkeeping themselves. It happens easily— you fall a month or two behind, then by the time
Editor’s Note: This post was originally published in October 2017 and has been updated for accuracy and comprehensiveness. If you’re like most salon owners, the chances are good that you decided to start a hair salon because you love meeting new people and helping them feel more beautiful than when they walked in
Just like a traditional brick-and-mortar business, your eCommerce business needs a good bookkeeping system for essential functions like tracking revenues and expenditures and filing tax returns. There are a lot of compelling reasons you need a bookkeeper, and for most small businesses, it’s generally more cost-effective to outsource the accounting and bookkeeping services
There are different types of bookkeeping services for small businesses. You can handle it all yourself, utilizing software like Quickbooks and Xero; hire a part-time small business bookkeeper; or opt for a full-service bookkeeping service like xendoo that can handle it all for you. What are the different types of bookkeeping services for
Yes, the IRS has entered the digital age! They offer several ways to pay your tax online. Direct Pay with Bank Account There’s no service charge to have the money taken directly from your bank. To make a payment or look up a payment you already made, go to the Direct Pay page
Do you run a business that charges clients by the hour? Whether you’re an accountant, lawyer, designer, or consultant and you’re ready to expand – or hope to one day – there are a few things to consider to make sure your growth strategy is profitable. Let’s start with the basics… How does
There’s no doubt about it, sales tax is getting more complicated for all e-commerce businesses. Ever since the 2018 Supreme Court ruling on South Dakota v. Wayfair, U.S. states have been free to make their own tax nexus rules. No longer is it just about having a physical presence in the state —
Bookkeeping and accounting keep your small business ship sailing. But, do you know the difference between the two? Are you familiar with how each can benefit your business when done properly? Do you have a clear understanding of how both disciplines impact your small business taxes? Well if not, allow us to clear
What do you do when Form 1040 (federal income tax return) doesn’t give you the opportunity to fill in your particular type of income or deductions? The answer is, you attach the appropriate schedule. What’s a Schedule? It’s a separate form that’s designed to meet your circumstances, allowing you to report or claim
If you’re a retailer or similar business, you don’t have to pay sales tax on the goods and services you purchase for the purpose of reselling, renting, or leasing them. Example 1: Your business sells brand name bicycles to the public. You don’t pay sales tax when you buy those bicycles from the manufacturers.
Whether you’re a brick-and-mortar business located in Florida or an e-commerce seller who ships to customers in the state, one hassle you can’t get away from is collecting and remitting the state sales tax. The first thing you need to know is that Florida is a destination-based sales tax state. That means you’ll
What is Form 1040? This is the Individual Tax Return for U.S. citizens. The 2018 form has been redesigned, so if you used to file 1040A or 1040EZ in previous years, you will now use Form 1040. Along with it, there are 6 new Schedules for declaring specific circumstances: Schedule 1: Report additional income
Is it time to purchase the commercial property you’ve been leasing? If you’re a small business owner who currently rents office or retail space, you could be in a position to benefit from becoming an owner. Of course, the decision to own or rent will depend on a number of factors unique to
Just like spring cleaning your house, your business needs a good tidying and updating once a year. Make December the month you get organized, focused, ready and able to create more success than ever in 2019. Catch up on your bookkeeping.
You know you have the inspiration and the drive to launch a business. But it takes more than that to survive and thrive over the long term. Here’s what you should know to make sure it starts off in the right direction and keeps on going that way. What is the ultimate goal?
Does this sound like you? You offer great quality service, you have an excellent customer base, but you’re still making very little if any, profit. There could be many reasons for this, but one of the most frequent is that you’re not charging enough. Here’s how to stop undervaluing yourself and get the
As a professional services provider, did you know that the way you price your services is actually part of your overall marketing strategy? Whether you’re an accountant, lawyer, or business coach — if you’re pricing your services without thinking it all the way through, you could be underselling or underachieving the goals you’ve
Every business has to spend money in order to make money. Here’s how to keep those ongoing expenses from getting too high and impacting your bottom line. Take a fresh look at every single expense. Chances are, some of them have become a habit but can now be either eliminated or achieved in
Small business owners know that every penny counts when paying taxes. The difference between a high and low tax burden can significantly impact a small business’s likelihood of survival. That is why picking the right city to base a business operation is important for entrepreneurial success. From small cities to major ones, certain
A/B Testing: What It Is, Why It Matters, and How to Nail It When you’re running a business, every decision counts. Whether it’s choosing a website design, crafting a catchy headline, or deciding on a marketing strategy, you want to be sure you’re making the right call. That’s where A/B testing comes in.
