Xendoo Review: In-Depth Look at the Small Business Accounting Service (2023)

Small business owners have a lot on their plate on any given day: managing inventory, directing employees, providing customer service, and often doing all the work themselves. One of the least interesting and often most difficult tasks for small business owners is managing their finances. Knowing how to best record purchases, pay taxes, or keep the books current can be impossible for those wearing multiple hats.

Xendoo aims to solve this problem by being your accounting and bookkeeping department. Instead of hiring a dedicated accountant or finance department, Xendoo fills that role practically entirely with its bookkeeping services tailored to small businesses. Whether just keeping the books in order or needing a CFO to help raise money, Xendoo can tackle it all.

This review will examine Xendoo and the features you’ll love the most. We’ll dive into their bookkeeper offering, how hands-on they are, and some of their additional services, like helping you catch up if you’re behind on your books. Lastly, we’ll look at their tax preparation and fractional CFO services to round out having an entire finance department on staff without hiring anyone.

Xendoo Features

Tapping out and letting an accounting firm handle your books takes a giant leap of faith. Xendoo recognizes this, and every client they take on is assigned a dedicated bookkeeper. So long as you’re a Xendoo customer, that person is your accountant–you won’t be handed off to a new person every week wondering if they know what’s going on.

If your accountant is unavailable, though, their team has backups to ensure you don’t miss a beat.

With plans starting at just $395 per month with a 30-day money-back guarantee (check out the entire pricing structure below), Xendoo offers monthly account reconciliation and financial statements, so you’re always in the loop about the state of your business. Your bookkeeper will also track and compile transactions from various sources (your business credit cards, bank accounts, PayPal, etc.).

Sometimes we fall behind with our books–I know it’s happened to me a few times over the years. Xendoo is also happy to help get you caught up with their Catch-up service. We’ll go over what that looks like a bit later. (Jump to that section.)

Being an online-based service, Xendoo also ties in with all the major e-commerce platforms. If your business deals its wares or services on the Internet, they’ve got you covered. Say goodbye to manually importing or paying extra to tie two disparate services together. 

But Johnathan, I have multiple companies! I’m not sure Xendoo will work for me. Fret not, my multi-faceted business owner. Xendoo supports multiple businesses and franchises just as well as single operation owners.

Payroll is a snap, too, if you use Gusto. Xendoo integrates with the slick and modern payroll solution, too. 

When you are on the go, Xendoo’s mobile app for iOS and Android will give you an insight into your financial operations, so you don’t need to be tethered to a computer to stay current.

Xendoo Comparison

Dedicated Bookkeeper

When you sign on with Xendoo, they’ll assign a bookkeeper, your primary point of contact. Before all that happens, though, you’ll start working through an onboarding process with the Xendoo team. They’ll kick things off by integrating their platform with your bookkeeping software.

After spending just a few minutes tying everything together, they’ll set up an onboarding call that lasts about 30 minutes. You’ll want to bring your most current profit and loss statement (P&L) and balance sheet. If you’re not up to date on your books, they’ll review their Catch-up option and what it’ll take to get you back on track.

From there, your dedicated bookkeeper will get the rest of your accounts connected to Xendoo, including your bank accounts, credit cards, and other platforms you use, like Shopify and PayPal. From here, you can sit back and relax and get back to the million other things you probably have going on.

Your bookkeeper will handle all the reporting and reconciliation going forward. Your books are trued up weekly, and you can follow along from the mobile app and Xendoo website.

You’ll also now have an insight into your financial health, too. You’ll get to see your monthly profit and revenue reports and a summary of your top expenses, all in one place. Even though you’re handing off the day-to-day of your finances to someone else, you’ll never be out of the loop.

All of Xendoo’s bookkeepers are in-house, not contractors, and are all within the United States. If your bookkeeper is ever unavailable–perhaps they’re taking a vacation–they’re part of a larger team that has immediate access to all of the information and can immediately pick up when your person left off. Your bookkeeper and their team will ensure your previous month’s books are always entirely done by the 5^th business day of the month.

Catch-up Services

Not everyone has the time or the resources to manage their books effectively, so sometimes, we fall behind. Xendoo can help handle this and get you back on track with their catch-up accounting offering. 

Starting at an additional $295/month, you’ll start with an onboarding call with your Xendoo team so they can get a complete picture of the work needed to make your books current. Xendoo’s catchup team will work with your dedicated bookkeeper to ensure everything is reconciled correctly and accurately. Once you’re caught up, you’ll pay the regular monthly rate.

Tax Help

Some of us are a little weird and enjoy doing our taxes. The rest of us have better things to do, or find ourselves getting lost in the tax code’s chaos. Xendoo can take over your tax filing responsibilities, too, which can be a massive burden lifted off your shoulders.

Starting at just $1,200 per year, the Xendoo tax team will always be on top of every tax filing deadline throughout the year and can file your returns and estimated payments accurately because your bookkeeper is ensuring your books are spot on. Xendoo guarantees the accuracy of every filing.

Xendoo handles all the primary income tax forms for all major U.S. business types: Form 1120-S for S Corps, Form 1065 for partnerships, Form 1120 for C Corps, and even Schedule C forms for sole proprietors or single-member LLCs. Speaking of sole member businesses, if you’re operating one, Xendoo can also help with your personal returns to ensure your business taxes are being appropriately recorded on your 1040 tax return form.

Fractional CFO Services

Sometimes you need a heavy hitter on your team to accomplish something huge. When it comes to growing your business, that can mean having someone who knows the ins and outs of your business’s finances, growth, and more. Having access to a Fractional CFO can be a great solution for a small business that may not always need one on staff.

Xendoo offers access to a specific team of CFOs and can tap one specific to your industry to help you with a variety of needs. Your new CFO will meet with you to discuss cash flow, key performance indicators (KPIs), and talk growth strategies. Fractional CFOs start at $1,500 per month.

Fractional CFO services include revenue forecasting, cash flow management, employee and headcount expenses and planning, budgeting, and more. When you’re ready to start raising money, your CFO can help raise capital with financial modeling, analyzing burn rate, cost analysis, and more. They’ll even go so far as to help craft your pitch and investor decks, and business plans.

Integrations

Xendoo ties in with various accounting, e-commerce, payroll, tax, and payment processing platforms. On the accounting front, Xendoo hooks up to Xero and Quickbooks, though they also support A2X if you have a more bespoke solution. If you’re an e-commerce business, you’ll find support for Amazon, Shopify, Stripe, and TaxJar. Xendoo also integrates with Gusto for payroll, and Billo.com for bill pay needs to round out the integrations.

Pricing

Xendoo Pros and Cons

Wrap Up

Xendoo is a full-service bookkeeping and accounting platform that handles all aspects of your business’s financial landscape. From essential bookkeeping services to tax preparation, catching up on past months or years, and even stepping in as your CFO, Xendoo can do it all. We’re a big fan of Xendoo and their service offering, and we believe they can be a significant benefit to businesses that have the need for financial staff but maybe don’t have the resources to hire an accounting department. Xendoo will do the heavy lifting so you can get back to running your business.