Frequently Asked Questions

Read from our FAQ broken down into separate sections below.


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

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.

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 Xero bill pay and invoicing are not managed by your AccountantGuys 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.

Catch-Up Services

What are catch-up services?

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.

Do I need to be caught up to move forward?

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.

Do I have to do all of my catch-up at once?

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.

How long does it take to finish catch-up?

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.

How much is catch-up?

Catch up bookkeeping starts at $150 per month of catch-up work needed. Catch up tax returns start at $850.


What type of return do I file?

That depends on your business structure. We have a handy guide HERE >

Do you help with IRS notices?

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.

Do I have to file a state return?

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.

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 CPA.

Sales Tax

How do I handle my sales tax?

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.

Do I need to file sales tax monthly, quarterly, annually?

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.


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.

Accounting Methods

What is cash basis accounting?

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.

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 AccountantGuys files the company’s tax return.


Do you work with Amazon Sellers?

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.

Do you integrate with A2X?

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.

How do you work with 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 Shopify?

Yes, we integrate directly with Shopify or via A2X which offers more visibility into sales and fees.

Do you integrate with eBay sales?

Yes, we can integrate your paypal and reconcile incoming sales from that account.


Is this tax deductable?

Bonus! Professional services are 100% tax deductible.

How do I add an additional company?

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


Can I change my plan at any time?

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.

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.

How To

Where can I find my reports?

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

How do I add an additional company?

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

How do I update my credit card?

Go to 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”

If I have questions about reconciled transactions, who do I speak with?

We are here for you! Your dedicated bookkeeper will be best to speak with about reconciled transactions.

How do I speak to a CPA?

Our team of expert CPAs is here at your service. You can schedule an appointment at your convenience.

How often can I speak to a CPA?

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.

Do I receive one bookkeeper or are multiple bookkeepers are available?

We assign one dedicated bookkeeper to your account and that person is supported by a full bookkeeping team to optimize availability and access.

How do I navigate on Xero?

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!

How do I log into AccountantGuys?

You can easily log into AccountantGuys by going to OR logging into our mobile app. If you don’t recall your password, click “forgot password” to reset it.

How do I cancel my account?

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 and we can help.