FAQs

Bookkeeping

• What software do you use to do my 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

• How should I manage my payroll?

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

• How do I setup a 1099?

  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

• What is cash basis accounting?

  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.

• What is modified accrual accounting?

  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

• Do you work with Amazon sellers?

  We love Amazon sellers! Our expert accountants specialize in eCommerce bookkeeping and accounting and are well-versed in the complexities of Amazon sales, including fees, refunds, and payout schedules. If you are not integrated with A2X, our team will request detailed sales reports from Amazon to keep your books accurate and ensure your monthly reports are delivered on time. Speak with our onboarding team to see if A2X is the right integration for your business.

• Do you integrate with A2X?

  Yes! We are a premier partner of A2X. Our integration specialist will get your account fully set up for no extra cost. Be sure to ask your onboarding specialist for a promo code to receive 10% off.

  Learn more about our premier partnership with A2X.

• What are the benefits of using A2X?

  A2X posts your sales, fees, and COGS into your accounting software in organized summaries that reconcile to the payments in your bank account. This delivers more visibility into your online business’s performance.

• Do you integrate with PayPal?

  Yes, we integrate with PayPal. We make sure your revenue and expense transactions are recorded correctly.

• How do you work with my PayPal?

  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.

• Do you integrate with Shopify?

  Yes, we integrate directly with Shopify via A2X. If you do not use A2X, our expert accountants will request reports from Shopify to keep your books accurate and ensure your monthly reports are published on time. Our team is experienced in the complexities of managing Shopify financials, including order volume, refunds, transaction fees, and payout reconciliation.

• Do you integrate with eBay sales?

  Yes, we integrate directly with eBay via A2X. If you do not use A2X, our expert accountants will request reports from eBay to keep your books accurate and ensure your monthly reports are published on time. Our accountants understand selling on eBay and will accurately reconcile your books weekly.

• What sales platforms do your customers use?

  Our valued customers sell on most major eCommerce platforms, including Shopify, Amazon, Wix, WooCommerce, BigCommerce, eBay, Etsy, Walmart, Facebook, Instagram, TikTok, and more.

Deductions

• Are Xendoo services tax deductible?

  Bonus! Professional services are 100% tax deductible.

About Us

• Who is Xendoo?

  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

• What types of industries do you serve?

  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.

• How fast can I get started?

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

• What do you need from me?

  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.

• How will you bill me?

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

• What are tax ready financials?

  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

• Who is our service for?

  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.

• What does our service include?

  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.

• Do you offer personal tax returns?

  Personal tax returns are offered and can be added on to any package for a fee. Speak to your Xendoo team to discuss your options.

• Are my services outsourced to another country?

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

• How often will I speak to my bookkeeper?

  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.

• Can we have monthly calls to go over my financials?

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

• Can I speak to my bookkeeper nights or weekends?

  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.

• When do you deliver monthly reports?

  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.

• Can I cancel anytime?

  There are no annual contracts. You can cancel with a 30-day notice. For full terms and conditions, please visit this page.

• If I leave Xendoo, can I keep my Quickbooks or Xero account?

  Yes! The accounting software subscription and financial records are yours! If you choose for the Xero account to be transferred to you upon cancellation, there is a $50 fee to transfer the account.

• What is the value of using Xendoo?

  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

• Can I change my plan at anytime?

  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.

• Do you offer custom plans?

  Yes! If our standard plans aren’t quite the right fit, we’re happy to tailor a plan to your business needs. Schedule a free consultation and we’ll find the right fit.