Questions and Support
1. How do I import my existing books into Xero?
Send your Figurit Bookkeeper your most up-to-date Balance Sheet and Income Statement, and you’re done. If you don’t know where to find those, we’ll help you get started!
2. How do I upload my bank and credit card statements?
While Xero’s “bank connect” feature automatically extracts your financial data, we also request that you send your Figurit Bookkeeper .PDF copies of your bank and credit card statements. These ensure that the data coming through bank connect is completely accurate, and provide an additional physical record of all financial transactions – which is important for keeping the IRS happy and your business safe.
3. Do you do Accrual or Cash-based accounting?
Xero does bookkeeping on a cash basis – this means we record transactions as soon as the money has been deposited into your bank or charged to your debit/credit card. We find this approach simpler and more effective when it comes to filing taxes.
Alternatively, bookkeeping can be done on an accrual basis, meaning that money you owe or money owed to you is accounted for in your reports. Speak to your Figurit Bookkeeper to find out any additional fee for this service.
4. How can I speed up my Figurit Bookkeeping?
In order to reconcile your accounts and close your books, we request that you send us your bank and credit card statements on monthly basis. Once we have the statements, we guarantee to have your Figurit Bookkeeping completed within 15 business days.
However, the date that you opt to receive your statements can affect this process. One very common issue is mid-month credit card statements; this can slow things up. For example, if the closing date on your credit card statement is the 25th of the month, we would have to wait a full 30 days (until your following statement becomes available) in order to account for the final 5 days of the preceding month.
If this is the case with your statements, we recommend that you ask to change your statement date to the month end – most banks and financial institutions will be happy to do this for you. This simple change will reduce any delay in your Figurit Bookkeeping by up to 30 days.
5. When will I get my first bill?
You pay your joining fee upfront (we’ll invoice you) and, if you’re taking advantage of our annual pre-payment discount, we’ll send you a bill to pay before we start work. If you’re paying monthly, we’ll bill you monthly in advance and you should pay by the 10th of each month, by check or ACH to our bank account.
6. Do you work with PayPal?
Yes, we work with PayPal.
7. I haven’t done my books for a long time. Do you provide catch-up services?
Yes we do! Speak to your Figurit Bookkeeper to find out more.
8. Will you file my taxes?
We don’t file taxes, but we can refer you to an excellent Certified Public Accountant (CPA) in our network. We will also work directly with your CPA to ensure that they have all the reports they need to file your taxes on time.
9. Can I cancel?
You can cancel anytime. We never lock you in. It’s your data and we make sure it’s easy for you to retrieve.
10. If I do wish to leave the service, how do I export my data?
It’s easy. Notify your Figurit Bookkeeper, and they will help you download all your receipt images and reports into a csv/excel file.
Need further support? Please call our Support Line T: (305) 296 0630 or email E: firstname.lastname@example.org.