XYPN Books Setup & Training

What is it?

XYPN Books New Firm Setup & Training service includes the setup of your business’s books in accordance with your state's RIA regulations, as well as a training session to teach you how to get started keeping your own books.

The team will set you up with the Michael Kitces-recommended Chart of Accounts. Then, during the training session, you will be taught how to navigate QuickBooks (QBO), along with how to enter any expenses you paid out of pocket. To follow up, you will receive a list of videos to help you with your QBO processes. A QBO subscription discount is included if signing up for QBO through XYPN!

Why is it important?

RIAs are part of a regulated industry. As such, you are required to keep a financial set of books. We've compiled a state-by-state registration guide that identifies which states require a balance sheet at the time of registration. If your state requires a balance sheet for registration, reach out to the XYPN Books team to get started.

When the state or SEC regulators audit your company, you must submit up-to-date Balance Sheets and Profit & Loss statements, Reconciliation Reports, and a General Ledger. The XYPN Books team members are experts on accounting requirements for financial advisors in your state and will help ensure your books are set up in accordance with these regulations. Starting on the right foot with your new business’s books is essential to your success, and XYPN Books will help get you there!

Pricing & Services

Setup & Training: One-Time Fee of $445

Need Financial Statements Fast? For an additional $199, receive your statements sooner for registration.

For those who need financial statements for registration ASAP, jumpstart your Setup & Training with a focused, 30-minute call scheduled within two weeks of signing up. We’ll collect your key financial data and deliver your financial statements within one week of this call, pending data access. If your state requires financials for registration, you’ll get what you need faster—so you move forward with confidence through Setup & Training.

Account Management

Sign up for XYPN Books New Firm Setup & Training

1. You can sign up right from your Member Portal.
2. Under Sign Up, confirm your account information.
3. Click Submit.
4. You're all set! XYPN Books will be in touch with you on the next steps for your New Firm Set-Up & Training.

Billing

• Billing will be directly through XYPN monthly with your membership dues.

Questions?

• Join us for XYPN Books Office Hours!

FAQ's

Is the XYPN Books New Firm Set-Up & Training included for those who sign up for XYPN Books? No, it is not included. For new Monthly Bookkeeping clients, a one-time onboarding fee of $525 for XYPN members or $685 for non-members will be assessed; this includes new firm set-up and training. Please note this does not include the QuickBooks (QBO) subscription, which can be billed at a discount starting at $30/month through XYPN if we set up your QBO account. Our onboarding process includes: group training, review and modification of the chart of accounts, balance sheet review, two hours of book cleanup (cleanup exceeding two hours will be charged at $260/hour), and reconciliation of bank-type accounts.

Do I need to pay for and complete the XYPN Books New Firm Set-Up & Training webinar if I would like to receive the QuickBooks discount? Yes, you are required to attend the XYPN Books New Firm Set-Up & Training if you are setting up a new QuickBooks account and would like to receive the discount.

Does the XYPN Books New Firm Set-Up & Training fee of $445 include the first month of my QuickBooks (QBO) subscription? No, it does not. Both the $445 one-time fee and the QuickBooks monthly subscription fee will be billed through XYPN on your monthly invoice as separate costs.

Contact

For questions or concerns, please contact XYPN Books directly at xypnbooks@xyplanningnetwork.com