Frequently Asked Questions

Bookkeeping

We connect digitally with your bank transactions so we will not need your receipts. However, it is advisable to keep them for IRS audit purposes for 3 years.

We’re confident you’ll find writing checks in Xero to be no trouble at all. Here is a short VIDEO on how to write checks.

You have many options to automate bill pay, whether through your bank, Xero or other software provider such as Bill.com. Xero bill pay and invoicing are not managed by your xendoo bookkeeping team.

Xero has a basic inventory tracking feature built in. Many customers prefer to use other 3rd parties such as TradeGecko for more robust inventory tracking features.

Catch-Up Services

Being behind on your books is not uncommon for small business owners who wear many hats. Xendoo provides peace of mind by catching you up quickly on bookkeeping and tax returns. Let our small business accounting team get you out of the past and looking ahead.

Absolutely not! There are many customers that are behind on their books when they get started with us. We offer catch-up services to help with this.

To follow accounting and bookkeeping best practice, yes. It is recommended to catch up all at once for each year. If you have multiple years of catch up, we recommend starting with the most recent year.

On average, it takes 2-4 weeks to complete catch up services. Depending on the number of months to catch-up and complexity, the timeframe may vary. We complete some catch-up services in just one week, and other more complex services take up to 4.

Catch up bookkeeping starts at $150 per month of catch-up work needed. Catch up tax returns start at $850.

Taxes

That depends on your business structure. We have a handy guide HERE >

We all get a shiver down our spine when we see an IRS notice. With Xendoo, simply open your mobile app and upload your IRS notice to your account. It’s that easy! If the notice was issued while we are handling your accounting, this feature is included free within all of our packages.

Whether or not a taxpayer is required to file a state tax return depends on many factors such as the state you live in, where you conduct business, etc. Your Xendoo CPA can help you determine whether or not you need to file a state return. Or, check out the list of states here.

The IRS statute of limitations is usually 3 years to audit or make an assessment. There are many exceptions from this rule that give the IRS 6 years or longer. And once an assessment is made, the IRS collection statute is normally 10 years. If you owe back taxes, please schedule a call to review with your dedicated Xendoo CPA.

Sales Tax

Sales tax is a specialty all by itself and your dedicated Xendoo CPA team is here to assist. For companies with more complex sales tax filings, we recommend a 3rd party software such as TaxJar or Taxify, which directly integrates into Xero software.

The determination and frequency of filing sales tax returns depend on factors such as sales volume, sales tax due, State, City, County, etc. To learn more, speak to your Xendoo CPA.

Payroll

We partner with Gusto for payroll services and offer our clients 15% discount plus two months free. Click HERE for more information.

Generally speaking, you must send out a Form 1099-MISC to all contractors, including Partnerships and LLC’s, you’ve hired and paid more than $600 during the year. We recommend using Gusto for payroll services, which includes features for issuing and filing 1099s.

Accounting Methods

The cash basis accounting method recognizes revenues when cash is received, and expenses when they are paid. This method does not recognize accounts receivable or accounts payable.

Modified accrual accounting is an alternative bookkeeping method that combines accrual basis accounting with cash basis accounting. This includes loan payable(s), month-end inventory adjustment and reports include AR and AP if you utilize invoice and billing in Xero. Invoicing and billing is managed by the customer. This does not include deferred revenue, prepaid expenses, prepaid insurance, and other accruals. A year-end entry for depreciation and amortization is made if Xendoo files the company’s tax return.

ECommerce

We love Amazon sellers! We have hundreds of eCommerce and Amazon sellers as customers. We partner with A2X for more visibility into your eCommerce sales.

Yes! We are a premier partner. After you register your account, ask your onboarding specialist for a promo code to use when signing up for A2X.

A2X posts your eCommerce sales and fees into Xero in tidy summaries that reconcile to the payments in your bank account. Get more visibility into your online shop’s performance.

We set up PayPal so it comes through your bank account as sales. Best practice is not to pay bills out of PayPal.

Yes, we integrate directly with Shopify or via A2X which offers more visibility into sales and fees

Yes, we can integrate your paypal and reconcile incoming sales from that account.

Deductions

Bonus! Professional services are 100% tax deductible.

Go to Xendoo.com to login to your account. Once logged in, select the dropdown in the upper lefthand corner and choose “add new”

About Us

Xendoo is a technology-based bookkeeping and accounting service focused on small business owners. By harnessing technology we give our accounting teams more time to work directly with clients and their individual business needs. Xendoo offers a low, flat monthly rate with unprecedented service and response. Your monthly financials are prepared by the (unheard-of!) 5th of the following month and are available on our website or mobile app.

CHECK OUT > this helpful graph on how we different from our online competitors.

Our free trial includes a calendar month of bookkeeping plus the profit and loss statement and balance sheet.

Fast! We can get you connected within an hour.

After you have finished the online sign-up process, we’ll schedule a short, 15-minute onboarding call. We’ll need YTD balance sheet and P&L, or we can discuss catch-up work. Visit our HOW IT WORKS page for more info.

Our valued customers are billed on the first day of the month for services provided for that month.

Picture this… It’s seven months into the year. You call a traditional accountant who doesn’t know what your tax liability is until tax time the following year. Missed business opportunities may happen when you don’t have clarity on your taxes. With Xendoo, we keep your financials tax-ready from day one, so you have a clear picture of your tax liabilities and potential tax savings opportunities throughout the year.

Services

Our services and cutting-edge technology is tailored for the small business. Overlooked by traditional accountants, we feel the small business community isn’t getting the service it deserves. At Xendoo, our passion is helping small business entrepreneurs by providing bookkeeping and accounting services so you can focus on growing your business.

Xendoo offers a variety of packages because we know not all business owners are created equal. Choose the package that works best for you and your business. To view the full list, visit our pricing page.

Personal tax returns are offered for select plans or can be added on to any package for a fee. Please chat with us below for details.

Yes! Whether you have tax planning questions or you’re starting a new venture, our team is here to help you take the guesswork out of small business accounting.

Absolutely not! All of our bookkeepers and accountants are located under one roof in the US.

Your bookkeeper is available by phone, email or text to answer any questions you may have. You are welcome to reach them at your convenience. Your bookkeeper will be in touch with you if they need any clarification on transactions.

Absolutely. Our team is here to help! You will have the opportunity to schedule an appointment with your dedicated bookkeeper at your convenience.

We know business owners are short on time and that’s why we are available to communicate via your preferred method – phone, email, text or chat.

Our CPAs are readily available during standard business hours of 8am – 6pm EST. With advanced scheduling notice, CPAs are available after hours as well.

Of course! We’re sorry to see any customer of ours go, but we understand life happens and things change in business. If you request to cancel, services will be provided up to the last day of that month. To cancel, simply LOGIN and go to My Account or call 855-912-8965 to speak with us directly.

Absolutely. We would just transfer the billing to your name if you decide to cancel your Xendoo services. Please contact customer support to facilitate the transfer.

Our customers find peace of mind in no longer needing to worry about their financials – we do it all for them! Real-time accounting, tax planning, fixed flat monthly rate and a supportive team that has your back!

Plans

Yes! To easily change plans, simply login to your account and click modify. Plan modifications take effect on the first of the following month. Depending on the time of year the plan changes, there may be additional costs to services such as tax returns. Visit our plan options here.

We consider every Customer situation as unique and we will work with you, if needed, to customize a plan to suit your specific needs.

How To

Go to Xendoo.com to login to your account. Once logged in, click Reports on the top navigation menu.

Go to Xendoo.com to login to your account. Once logged in, click Reports on the top navigation menu.

Go to Xendoo.com and login to your account. Once logged in, click on Billing at the top navigation menu. From there, select Manage then “Add or replace credit card”

We are here for you! Your dedicated bookkeeper will be best to speak with about reconciled transactions.

Our team of expert CPAs is here at your service. You can click here to schedule an appointment at your convenience.

As often as you’d like! We are here to help. You can use this link to book an appointment with our CPAs at your convenience.

We assign one dedicated bookkeeper to your account and that person is supported by a full bookkeeping team to optimize availability and access.

Xero’s website has great tips on how to navigate the portal. They have plenty of help and how-to’s for you to take advantage of. We are always happy to help if you get stuck!

You can easily log into Xendoo by going to Xendoo.com OR logging into our mobile app. If you don’t recall your password, click “forgot password” to reset it.

We are so sorry to see any customer go! We understand there are up’s and down’s with businesses and you may need to terminate your account with us. To do so, email support@xendoo.com and we can help.

Is Xendoo right for you?

We support thousands of small businesses with their financial needs to help set them up for success. Want to get in on their secret? Learn more today.

Is Xendoo right for you?

We support thousands of small businesses with their financial needs to help set them up for success. Want to get in on their secret? Learn more today.

JP is one of our Xendoo accountants.