FAQ

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 AccountantGuys 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.

Being behind on your books is not uncommon for small business owners who wear many hats. AccountantGuys 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.

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 AccountantGuys, 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 AccountantGuys CPA can help you determine whether or not you need to file a state return. Or, check out the list of states here.

SEE ARTICLE >

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 CPA.

Sales tax is a specialty all by itself and your dedicated AccountantGuys 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 AccountantGuys CPA.

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.

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 AccountantGuys files the company’s tax return.

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.

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.

Bonus! Professional services are 100% tax deductible.

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

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.

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

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

Go to AccountantGuys.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 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 AccountantGuys by going to AccountantGuys.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@AccountantGuys.com and we can help.