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Besides having an unusual name, Kashoo Classic has several attributes that might make it attractive to very small companies ready to automate their accounting system. For example, Kashoo was the first to develop an iPad app for its online service. It offers free chat, voice, and email support. Kashoo Classic also includes project cost tracking and can be integrated with SurePayroll, one of the best services of its kind. It follows the rules of double-entry accounting and does a good job of tracking income and expenses. Since our last review, the company made changes to the website, including improved categorization and bank feeds.Considering that most of its subscribers are micro-businesses, the company decided to take a step back and meet the needs of new, very small businesses that hadn’t yet switched from manual bookkeeping to a cloud-based accounting solution. Since the first task that a new business (or one that just wants to dip its toe into automation) is likely to start with is invoicing, Kashoo introduced a free, very simple invoicing solution called TrulySmall Invoices. Kashoo also launched TrulySmall Accounting ($20 per month), a double-entry accounting solution that allows you to download transactions from your bank accounts; track income and expenses and bills; send invoices and accept payments; and run essential reports. Both TrulySmall applications were created for mobile first (both iOS and Android apps are available), so they’re easy to use, simply designed, and aesthetically pleasing. Kashoo has introduced a new accounting website, TrulySmall Accounting. It lacks some of Kashoo’s functionality, but it’s a good entry-level solution. Its subscription fee is $20 per month. TrulySmall Invoices is free.But neither these new products nor the flagship application, Kashoo Classic, can compete with our Editors’ Choice-winning services, Intuit QuickBooks Online Plus and FreshBooks.How Much Does Kashoo Cost?Kashoo Classic’s subscription fee is now $30 per month, with extra fees for payroll and merchant accounts. It lands about in the middle of the small- to medium-sized business pricing scale. Wave and Sunrise, which offer more functionality, are free. The version of FreshBooks we reviewed is $45 per month (billed annually), and QuickBooks Online is $80 per month.For your Kashoo Classic subscription price, you get a good selection of tools for managing your company's income and expenses, while staying compliant with double-entry bookkeeping rules. The site ably covers the basics required by accounting applications. Included are a Chart of Accounts; record templates for clients, suppliers, and items and services; transaction forms for invoices and other income, bills, and other expenses; and preformatted reports.Kashoo Classic can connect to your financial institutions, download transactions, and then reconcile accounts. The site makes all these activities easy by housing them in a clean, simple user interface with equally simple navigation tools. Email, chat, and phone support are free and unlimited, and the online documentation is good.Laying the GroundworkKashoo Classic doesn’t offer a step-by-step setup wizard like some sites do, but if you work your way through the Settings menu, you can easily lay the foundation for your

Credit to customers. Many times, a business will buy products in one month and not sell them until the next month, and with the cash basis method, there is no functionality for recording these kinds of transactions. Most business owners eventually switch to accrual-based accounting to more accurately reflect actual revenues and expenses. For a complete picture of your company’s finances, you need to be able to track revenues and expenses as well as know how much cash you have available in your bank accounts. Kashoo Small business Accounting uses the accrual basis accounting method, but also allows you to download your bank and credit card statements and upload the transactions into the appropriate line items—either manually or automatically. Your total financial history is available to you and your bookkeeper or accountant—continually updated and in real-time: simple bookkeeping at your fingertips. For more information on how Kashoo Small Business Accounting offers you real accounting for your small business, even if your company is a “business of one” call us at +1-888-520-5274 or email us at [email protected].

Agreement states that they cooperate with taxman, whoever they may be. Don’t get bitten by the CRA! Let’s face some facts; nobody wants their tax agency sniffing around, but the fact is, it’s almost inevitable. You can’t fight it, but what you can do is be prepared by tracking your sales (and all applicable taxes) in a reliable accounting software program, like Kashoo. Remember, the sales tax you owe Mr. Taxman is based on the sales tax you received on sales Income less the sales tax you paid on eligible Expenses. Once your income and expenses are entered into Kashoo, this amount is figured out for you effortlessly. Add to that, you can record those remittance transactions with the click of a button. Kashoo is hound friendly Our focus is and always has been to develop simple accounting software, and tracking sales tax is a feature we strive to make as easy as possible. If you’re using Square as your POS system, or receiving payments some other way, while we can’t guarantee you won’t get hounded by Mr. Taxman, we can make the difference between a happy hound and an unpleasant one. Start your FREE trial today, and see how Kashoo can help your business.

Instantaneously and are digitally recorded without the use of a bank or payment processor. In accounting, blockchain technology can automate auditing and make fraud almost impossible. But don’t expect to see any sweeping changes yet; only 15% of Canadian, US and European banks are providing any blockchain-based solutions in 2017. The technology is still too new. 4. OCR Eliminates Manual Receipt Entry With so many exciting new developments like AI and blockchain, it almost seems inappropriate to talk about a technology that has been in development since as early as 1914. What began as a way to convert characters into telegraph code is now standard practice in the financial sector, where OCR (Optical Character Recognition) saves countless hours of processing time by using machines to read handwritten characters and translate them into electronic data. Today, users can snap pictures of receipts with their smartphones and upload them to mobile versions of their accounting software, which automatically creates expenses complete with vendor name and amounts. This substantially reduces data entry time and errors that come along with it. The Future is Bright with Kashoo With all the technological advances in accounting software, it’s not surprising that 88% of small businesses use it. If you’re looking for innovative accounting software that works as well on your iPad as it does on your desktop, why not give Kashoo a try? Not only were we the first accounting app available for the iPad, our developers are constantly integrating your feedback to make Kashoo the best it can be. Get started for free today.