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Bookkeeping Needed - Xandoo.com?

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Topics relating to managing people and relationships

SethChild

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Sep 27, 2018
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St. Louis, Missouri
We are needing to switch bookkeeping services, and I was wondering if anyone has any input on choosing a bookkeeper. While doing a web search, I found xendoo.com and also wondering if anyone knows anything of that company, and can provide any recommendations or cautions. I realize that MJ recommends interviewing multiple people for accountants. We are in a maze of activity right now, and don't know if we have the time to do this. Thanks!
 
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AgainstAllOdds

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@SethChild -- change the link from Xandoo to Xendoo. Xandoo redirects to some bs app - I was angry at the clever "spam" and ready to be an a**hole.

:rofl:

Now to answer your question, I've never used Xendoo, but here's an option I'd look at:
  • Go on Upwork and similar sites
  • Find an accountant that's employed by one of the Big 4 Accounting Firms in India
  • Hire one of those individuals to do your bookkeeping
They're already well versed in American accounting principles, and will give you great value.

Note: I've never done this myself, we just use WaveApps.com (free), and Google Sheets for anything more complex, however, I know "a friend" that hired these guys to do countless hours of boring/complex accounting homework and projects. Let me know which route you enjoy up going. I'm curious what you determine to be the best option.
 

B. Cole

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I’m in the market for one as well, but am looking for a local person that I can walk up to if I have an issue. Arcane I know, but being able to walk up to the person handling my financials makes me feel better. Never underestimate the value of face to face (or a good slap).
 

CareCPA

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I'd be interested to hear how well they do. Their top package is only $300 a month. If you're doing millions in sales a year, can they really handle that for $300 a month (including unlimited tax planning)?
 
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SethChild

Contributor
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Sep 27, 2018
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37
St. Louis, Missouri
@SethChild -- change the link from Xandoo to Xendoo. Xandoo redirects to some bs app - I was angry at the clever "spam" and ready to be an a**hole.

:rofl:

Now to answer your question, I've never used Xendoo, but here's an option I'd look at:
  • Go on Upwork and similar sites
  • Find an accountant that's employed by one of the Big 4 Accounting Firms in India
  • Hire one of those individuals to do your bookkeeping
They're already well versed in American accounting principles, and will give you great value.

Note: I've never done this myself, we just use WaveApps.com (free), and Google Sheets for anything more complex, however, I know "a friend" that hired these guys to do countless hours of boring/complex accounting homework and projects. Let me know which route you enjoy up going. I'm curious what you determine to be the best option.
What an outside of the box idea. Thank you!!
 

SethChild

Contributor
Read Fastlane!
Sep 27, 2018
36
37
St. Louis, Missouri
I'd be interested to hear how well they do. Their top package is only $300 a month. If you're doing millions in sales a year, can they really handle that for $300 a month (including unlimited tax planning)?
Our accountant friend said risk, with being a startup with 10 employees is that they might go out of business.
 

SethChild

Contributor
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Sep 27, 2018
36
37
St. Louis, Missouri
Am I Making the Right Decision?
As mentioned above, we are switching bookkeepers due to them not delivering on essential details, commitments with regard to our bookkeeping.
The Problem: Included in their monthly fee ($250) they also provide administrative support and good advice. For example, when I was ready to pass on a business opportunity due to the high price of the courier quote, they called around to different couriers and got a better rate, because they knew that couriers are competitive in their rates. There's no way that I would have had time to do this, or the knowledge that courier rates could vary so much.
  • I'm finding that other bookkeepers don't necessarily include these types of services, yet they're in a position, due to their intimate knowledge of their client's business, to offer this kind of advice.
  • Due to my inexperience, I feel like I need this kind of helpful business-savvy consultative and administrative advice.
  • Due to advice from Millionaire Fastlane on making sure that you have topnotch attorneys and accountants, I decided to stop working with this bookkeeper despite the tremendous overall value, because of the breach in confidence and trust with the numbers.
  • Because of how snowed-under we are, we really need someone who is on the ball with our numbers and following up with us if we let something slide a little too long.
  • As I look on the internet for other "business services" type companies in the St. Louis area, there's nothing that really tells me what these companies offer, and if they'd be anywhere in the price range of our current provider, who likes us and knows our businesses well, and is giving us a cut rate I think because she believes in us and our businesses, and thinks we will grow.
  • You might say, "dig in Seth and start interviewing different companies. Don't expect others to do your work for you." I agree to a certain extent, but it doesn't seem like I have the time to do this, or the confidence that I should/can set aside other priorities in order to launch into a search for a different provider, without a great way of knowing if I'd end up with anyone better.
  • My wife/business-partner seems to have less trust, and a more strained relationship with the bookkeeper than I do.
  • I already talked with the bookkeeper about my concerns and they're ready to try doing better, and we have some tentative steps in place to do this (to ensure better timeliness on both sides)
Question(s):
  • Should I give the company another chance due to the potential overall value they could provide, combined with my lack of time to search for another company?
  • If not, any advice on how to effectively search for another provider of administrative/consultation support without a lengthy, complicated search?
 
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