Frequently Asked Questions
Who is Xendoo?
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.
How do we compare?
CHECK OUT > this helpful graph on how we different from our online competitors.
What does the free trial include?
Our free trial includes a calendar month of bookkeeping plus the profit and loss statement and balance sheet.
How fast can I get started?
Fast! We can get you connected within an hour.
What do you need from me?
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.
How will you bill me?
Our clients are billed on the first day of the month for services provided for that month.
What are tax ready financials?
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.
Who is our service for?
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.
What does our service include?
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. For a full list of services, please visit our PRICING PAGE.
Do you offer personal tax returns?
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.
Is it really unlimited tax consulting?
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 for questions you may have. They’ll also reach out to you when they need clarification on transactions.
Can we have monthly calls to go over financials?
Yes and this should be scheduled with your team.
How may I reach my dedicated CPA team?
Your team can be reached by phone, email, text or chat. We understand small business owners are short on time, at Xendoo we communicate via your preferred method.
Can I speak to my CPA nights or weekends?
After hours calls are availble with advanced scheduling notice.
Can I cancel at anytime?
Of course! We’re sorry to see you go, but understand people sell businesses or things change. There are no contracts with us. When canceling, 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.
If I leave Xendoo, do I keep my Xero account?
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.
Can I change my plan at any time?
To easily change your plan, simply LOGIN to your account and click modify. Plan modifications take effect on the first of the following month. There may be additional costs to services such as tax returns depending on the time of year the plan changes.
Do you offer custom plans?
We consider every Customer situation as unique and we will work with you, if needed, to customize a plan to suit your specific needs.
Is this tax deductible?
Bonus! Professional services are 100% tax deductible.
Are there any new IRS tax incentives for my industry?
The IRS frequently offers industry specific incentives and it changes all time. We recommend speaking with your dedicated Xendoo CPA team.
How do you work with my PayPal?
We set up PayPal so it comes through your bank account as sales. Best practice is not to pay bills out of PayPal.
Do you integrate with my eBay sales?
Yes, we can integrate your paypal and reconcile incoming sales from that account.
How do I transition from QuickBooks to Xero?
When transitioning from Quickbooks to Xero, our goal is to provide a seamless migration to Xero. There a few ways to transition from Quickbooks to Xero.
What do I do with my receipts?
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.
How do I write checks in Xero?
Writing checks in Xero is easy. Here is a short VIDEO on how to write checks.
How do I automate my bill pay?
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.
How do I manage my inventory?
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.
What are 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.
Do I need to be caught-up in order to move forward?
Not necessarily. We can catch you up for a fee, or you can do the historical bookkeeping and provide us with summary totals.
Do I have to do all my catch-up all at once?
For each year, yes. If you have multiple years of catch up, we recommend starting with the most recent year. This is following accounting and bookkeeping best practice.
How long does it take to finish catch-up?
This depends on the amount and complexity of the transactions, plus how available the customer makes themselves. Our average is 2-4 weeks.
How much is catch-up?
Catch up bookkeeping starts at $100/ month. Catch up tax returns are $450/yr
What type of return do I file?
That depends on your business structure. We have a handy guide HERE >
How does Xendoo help with IRS notices?
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 bookkeeping plus tax packages.
Do I have to file a state return?
Whether or not a taxpayer is required to a state tax return depends on matter facotrs such as the state you live in, where you conduct business, etc… (list states here that don’t have a state return)
What state should I be incorporated in?
Is there a statute of limitations on back taxes?
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.
How do I handle my 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, which directly integrates into Xero software.
Do I need to file sales tax monthly, quarterly, annually?
Whether or not your business is required to file sales tax returns and the frequency depends on factors such as sales volume, sales tax due, State, City, County, etc…
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 set up 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.
What is cash basis accounting?
What is modified accrual accounting?
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.