Frequently Asked Questions

Ximplifi is an accounting services firm, and we use accounting software on behalf of our clients. By combining the technical capabilities of financial systems with human expertise and ongoing management of accounting processes, we help property managers set their businesses up for success and free up time to focus on achieving their strategic goals. 

At this time, Ximplifi is only able to serve property management companies with a U.S. business entity. If you operate in multiple countries including the U.S., please make sure to bring this up on your discovery call.

We have a 10-property minimum for new clients. If you have fewer than 10 properties, we recommend starting out with a solution like VRPlatform that’s been designed by accountants to automate the trust accounting workload.

Yes! If you manage short-term rental properties or hotels alongside long-term rentals or other businesses, our team can take over some or all of your accounting processes.

Yes! We can either help you get your existing QuickBooks records in order, or we can help you start fresh with a new environment.

Yes! Our service packages include tiered volume discounts, so you can save more as your business grows. This ensures you receive cost-effective, scalable accounting solutions tailored to the unique needs of your vacation rental management company.

Many of our clients who own and operate short-term rentals choose outsourced accounting with Ximplifi to reduce their financial workload, gain peace of mind, and receive expert guidance to maximize profits.

Today, we work with property managers using Guesty, Hostaway, Track, Hostfully, Hospitable, OwnerRez, Avantio, and Lodgify. If you don’t see your software listed, please reach out to our team to help us support you in the future.

Yes! If you prefer to have your tax filings managed by a tax accountant or CPA, Ximplifi offers Tax Liaison support, which includes up to 5 hours of tax preparation support.

VRConsult is our consulting and onboarding solution, which is a one-time fee equivalent to one month of accounting services.

For Ximplifi’s team to manage bill pay for your owners and vendors, we require that you use one of the systems we support. If you have any questions or concerns about this, we would be happy to discuss it further on your discovery call.

For Ximplifi’s team to manage payroll for your business, we require that you use either Gusto or QuickBooks Online Payroll. If you have any questions or concerns about this, we would be happy to discuss it further on your discovery call.

At this time, Ximplifi only offers financial advisory to clients with an ongoing accounting services plan.

Yes! Our team has experience supporting vacation rental managers through M&A transactions with in-depth financial reviews, cleanup of financial records, and preparation of historical financial statements.

Yes! Our team will report your taxable income by unit and channel to MyLodgeTax each month for properties that are set up in the platform.

While Ximplifi can help you select and implement QuickBooks Online, your software subscription is not included in the cost of our services. However, as a ProAdvisor certified accounting firm, we can help lower your monthly subscription.

For clients on a Gold membership, we offer virtual coaching calls on a quarterly basis. For Platinum clients, we offer coaching calls on a monthly basis.

Our team will prepare and deliver a monthly financial reporting package that contains: a complete profit and loss statement, a summary of balance sheet account activity, and a statement of cash flows for your business. We can also develop custom reports by request.

It is entirely up to you, but our clients typically choose QuickBooks Plus or QuickBooks Advanced because it provides the ability to track financials for each property.

A 1099-MISC is used for reporting rents paid to property owners, while a 1099-NEC is used for reporting non-employee compensation, such as payments to contractors.

While no payroll software is one-size-fits-all, our team can help you weigh the different options and select a system that meets the requirements of your business.

While no bill pay software is one-size-fits-all, our team can help you weigh the different options and select a system that meets the requirements of your business.

VRPlatform is a software that automates trust accounting and produces better-looking owner statements. While it is designed to simplify trust accounting for vacation rental properties, it is not a full replacement for accounting software like QuickBooks Online.

There is no minimum for property managers who want to use VRPlatform.