What is Kashoo?
Kashoo is a cloud-based accounting software designed specifically for small businesses, freelancers, and independent entrepreneurs. It is renowned for its user-friendly interface and affordability, making it an ideal solution for those with no prior accounting or bookkeeping experience.
Key Features and Functionality
Invoicing and Payments
Kashoo allows users to create, customize, and send invoices directly from the platform. You can add sales taxes, set up recurring invoices, and even attach receipts and other supporting documents to the invoices. However, direct payments through Kashoo are not supported, but you can integrate online payment options using services like Stripe.
Income and Expenses
The software enables easy tracking and categorization of income and expense transactions. Users can digitally capture receipts and attach them to expenses, and the system supports multiple currencies. This feature helps in maintaining a clear picture of the business’s financial health and simplifies tax filing.
Bills to Pay
Kashoo includes basic bill management features, allowing users to enter and track bills, view unpaid bills, and print checks for payments. However, it does not support direct bill payments through the system.
Bank Reconciliation
Kashoo offers full bank reconciliation, enabling users to sync their bank accounts and credit cards. This feature ensures that all financial transactions are accurately reflected in the system, making it easier to manage end-of-quarter or yearly financial reports.
Financial Reporting
The software provides various types of reports, including income statements, unpaid invoices and bills, trial balance, general ledger, balance sheet, and transactions summary. These reports can be exported to formats like Excel, CSV, HTML, PDF, or Google Sheets.
Client and Supplier Management
Kashoo allows users to save and manage information about clients and suppliers, including default income accounts and sales tax rates. This helps in maintaining organized and accurate records.
Users and Account Management
One of the standout features of Kashoo is its ability to add an unlimited number of users for free, with four different access levels. This makes it a collaborative platform for business owners and accounting professionals.
Mobile Access
Kashoo offers a mobile app that allows users to manage their finances on the go. While the mobile app does not support all features, such as issuing customer invoices, it is useful for tasks like capturing receipts and tracking expenses.
Budgeting and Forecasting
The dashboard in Kashoo provides forecasting capabilities, allowing users to forecast for the following quarter and view monthly and annual totals, expenses, and accounts payable and receivable balances. This helps in better cash management and financial planning.
Security and Backup
Kashoo ensures the security of user data through fully encrypted account connections and robust backup systems, providing a safe and reliable environment for financial management.
Additional Features
- Project Tracking: Kashoo supports project tracking, which is useful for businesses that need to manage multiple projects simultaneously.
- Sales Tax Management: The software helps in managing sales taxes, making it easier to comply with tax regulations.
- Inventory Management: Basic inventory management features are available, helping businesses keep track of their stock levels.
- Customizable Invoices: Users can customize invoices by adding their logos and other branding elements.
Overall, Kashoo is a comprehensive yet straightforward accounting solution that caters to the needs of small businesses and freelancers, offering a range of features that simplify financial management without requiring extensive accounting knowledge.