Frequently Asked Questions

Bookkeeping

We work with both QuickBooks Online and Xero because:

– Live in the cloud. You can access your reports and data from wherever you are.
– Essential features. QuickBooks Online and Xero are equipped with key features to simplify and manage your bookkeeping and grow your business. They will keep you tax-ready all year long.
– You own the software. If you ever decide to leave xendoo, you can take your data with you! Your new financial partner can pick up right where we left off.

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 at the time the cash is received and recognizes expenses at the time 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. Modified Accrual Accounting includes loans payable, month-end inventory adjustments, and reports include AR and AP if you utilize invoice and billing in Xero or QBO. Invoicing and billing is managed by the customer. Modified Accrual Accounting 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 specialize in eCommerce accounting and will help you stress less, save money, and grow your business.

Yes! We are a premier partner of A2X. 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 your accounting software in organized summaries that reconcile to the payments in your bank account. This delivers more visibility into your online shop’s performance.

We set up PayPal so it comes through your bank account as a Sales transaction. The best practice is not to pay bills out of PayPal, however, if you do, please advise your bookkeeper so your transactions will be booked appropriately.

Yes! We integrate directly with Shopify or via A2X, which offers more visibility into your sales and fees.

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

Our valued customers sell on most major eCommerce platforms, including Shopify, Amazon, Walmart, Etsy, WooCommerce, and BigCommerce – just to name a few!

Deductions

Do not need to update the answer.

About Us

xendoo is a technology-based online bookkeeping and accounting service focused on helping small business owners take their time back. We do your books so you can do what you love. Your monthly financials are prepared as early as the *5th business day of the following month and are available in your customer portal.

*Depending on the plan you select

Simply put, we serve small businesses. Whether you run a boutique clothing store, sell organic hamster food online, or coach ping pong players, we do your bookkeeping so you can do what you love. Schedule a free consultation to see if we are a fit for your business.

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

Fast! We can get you connected within an hour. Schedule your free consultation today!

Once the sign up process is complete, we will schedule a short onboarding call. We will need your YTD balance sheet and P&L, or we can discuss catch up work.

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

Tax-ready financials include every document needed to file your taxes. xendoo helps you maximize your deductions and keeps your financials tax-ready from day one!

Services

Our services are tailored for small business owners. Overlooked by traditional accountants, we feel the small business community is not getting the service it deserves. At xendoo, our passion is helping small business owners and entrepreneurs by taking the stress of bookkeeping off their plate so they can focus on growing their business.

xendoo offers expert monthly bookkeeping and business tax preparation and filings. We also offer catch up services if you are behind on your books. You can explore all your options here.

Personal tax returns are offered for select plans or can be added on to any package for a fee. Speak to your xendoo team to discuss your options.

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 out to them whenever you need them. Your bookkeeper will be in touch with you if they need any clarification on transactions.

Absolutely. You can schedule an appointment with your dedicated bookkeeper at your convenience.

Your bookkeeper is readily available during standard business hours of 8am – 6pm EST. With advanced notice, they can speak with you after hours as well.

Depending on the plan you select, we deliver your reports as early as the 5th business day of the month! Click here to explore your options.

Of course! We are sorry to see any customer 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.

Yes! The accounting software subscription and financial records are yours! We will transfer the billing to your name if you decide to cancel your xendoo services.

With xendoo, you can enjoy peace of mind knowing your books are up to date and organized. Take your time back and focus on what you love – running your business.

Plans

Yes! 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. Check out our plan options here.

We understand that every customer’s situation is unique. If necessary, we can work with you to customize a plan to suit your specific needs.

How To

We assign one dedicated bookkeeper to your account. They are supported by a full bookkeeping team to ensure your books are always compliant and up-to-date. They will be able to assist you if your bookkeeper is unavailable for any reason.