My Honest Review of Kashoo For Accounting

My Honest Review of Kashoo For Accounting | Accounting Smarts
Charles Hall

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Charles Hall

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June 10, 2022

As a small business owner, you understand the late hours required to keep your bookkeeping in order. With Kashoo, many of these tasks can be automated easily.

As a small business owner, you understand the late hours required to keep your bookkeeping in order. With Kashoo, many of these tasks can be automated easily.

Kashoo prides itself on being the simplest accounting software to use to best serve all types of business owners. Kashoo even provides a freemium plan for those just starting out, equipping even the smallest business owners with reliable support. Features range from simple invoicing, basic accounting to payroll capabilities too.

Kashoo often targets freelancers in their advertising efforts, but they fail to provide important tools like time tracking. As a small business owner, it includes everything you need to successfully improve your accounting efforts but is outdone in key areas compared to competitors. Overall, Kashoo is reliable and affordable for most of the basics and a few double-entry accounting needs.

We have tested nearly every accounting software on the market, so we understand what is available and how Kashoo aligns in the market compared to competitors. Additional tools and features are important when you decide on your new software upgrade, and it is best to create a list of must-have features. This allows you to determine whether or not a platform like Kashoo would best serve you.

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What Is Kashoo?

Kashoo is a cloud-based accounting software solution that allows small business owners to scale and automate all of their tedious bookkeeping tasks cheaply. Kashoo is unique because it uses machine learning within the platform to categorize and reconcile expenses more accurately and give you real-time data with one-click reports.

Accounting software is a vital tool for every business. Kashoo accounting software has many features that are helpful to small and medium businesses.

All the data on the Kashoo server is encrypted, so it is safe from hackers and cybercriminals. The program offers integration with major banks so you can pay employees, contractors, or vendors in a few minutes without a hassle.

Kashoo started out as an idea of making money management easier for small businesses by offering an affordable solution to track transactions with powerful analytical tools. After a transition, it now focuses on simplifying accounting processes so they are less time-consuming, bringing together all your financial information into one place, and automating tasks like account reconciliation.

Kashoo Features

Kashoo is a cloud-based accounting software that is designed specifically for small businesses. It has been used by many different types of business owners and has helped them change their business life.

Kashoo is interconnected with other apps and services enabling the user to import needed data automatically. This connection eliminates the need for accountants to manually enter transactions. The app also helps keep track of expenses, income, and payrolls.

Kashoo also provides a dashboard where users can monitor all finances in one place. The dashboard displays information such as sales, taxes, payroll, cash flow, and more in an easy-to-understand way.

Double Entry Ledger

Double-entry accounting is an important tool for accounting for a company's transactions. It allows companies to keep track of spending and generate accurate reports for the upcoming tax season. Proper management will save you plenty of time and money at the end of the year.

Kashoo includes an excellent double entry for users. The intuitive platform automatically posts each transaction in the ledger to eliminate tedious tasks for business owners. This automation of the accounting process saves the accountant time and money, while also providing more accurate accounting in the long run.

It is important to note that Kashoo's double-entry ledger accounting is different from other cloud-based bookkeeping services because of the machine learning they rely on to be so accurate.

Advanced Reporting

Kashoo offers advanced reporting and visual dashboards to help businesses succeed. They offer a wide range of features and services, including a business dashboard, which tracks sales, customers, and inventory.

The visual dashboard is where you can manage everything important related to the financial health of your business in one place. Kashoo aims to please the entry-level user too. It is extremely easy to navigate and customize to simply your overall experience.

Some of the most notable reports you can create include profit and loss statements, income statements, balance sheet, general ledger, unpaid bills, and many more.  

Payroll Integration

Kashoo’s payroll integration is one of the best features of their software. It allows you to connect the accounting and payroll software and create an automated system. This means that all employee hours and pay can be tracked in one place.

With payroll integration, the HR team can not only communicate with employees but also see their progress. It also allows them to set up their own payroll system and pay employees through that system rather than relying on multiple tools.

Transaction Tracking

Kashoo transaction tracking is a tool for small businesses, freelancers, and accounting professionals to further optimize the way they spend their time handling business finances. It keeps track of customer details, projects, and finances from a single interface to see where money is going and coming from.

The features include income tracking, expense tracking, automated categorization, bulk transaction editing, and project transaction tracking. These expenses can all be separated into specific reports to gauge how well things are going.

Payments

Kashoo’s features include sending and receiving money and mobile payments. You can use the payments feature to send out invoices and collect payments directly all in the same place. Payments can be made with cards and bank transfers too with maximum flexibility.

The software is excellent for managing a business’s invoices and payments. It not only provides lots of options for sending and receiving but also makes it easier to manage the whole process both from the individual company’s point of view as well as from the client's point of view.

Mobile App

The mobile app offered by Kashoo is reliable and easy to use. It gives you better access from your mobile device from anywhere in the world to access important information needed.

Kashoo’s mobile app makes it easier to manage your business on the go. You can also sync all your data automatically with the cloud version of Kashoo so that you can get access to all your reports and data from anywhere in the world.

The Kashoo mobile app does carry some basic limitations like no multi-currency access, but as a secondary tool, it works flawlessly.  

Invoicing

Kashoo puts an emphasis on creating one of the best invoicing tools available. The free plan gives you access to this tool, but with limited customizations available.

As you scale up your plan, the invoices improve too. This means you can add more customizations to the templates around your business to improve your branding and credibility.

Why Is Kashoo Good For Accounting?

Kashoo has been catering to the needs of accountants and bookkeepers for almost a decade now. They have created a best-in-class accounting software to help you with all your accounting needs.

Their software is designed specifically for accountants and bookkeepers, so it offers one of the most user-friendly experiences on the market that’s perfect for those who are looking for simplicity and ease of use.

You can easily generate financial reports in a matter of seconds without any hassle or complicated workarounds which is great for businesses of all sizes.

Kashoo is a platform that is designed in such a way that it caters to the needs of its users. Their aim is to build an accounting tool that can be used by anybody, irrespective of their level of knowledge or skills.

Kashoo has been designed with the idea of simplifying complicated accounting processes. With Kashoo, you can create invoices and track your expenses, manage inventory and taxes, manage your clients’ payments and financials and do many more things with just one login.

Kashoo Plans and Pricing

There are three pricing tiers offered by Kashoo to keep things simple for users. The starter plan is free with limited access and as you start to pay monthly, the available features expand.

Starter

The starter plan is meant for individual users, freelancers, and solopreneurs who need access to an invoicing tool for their business to run smoothly. Features are limited because pricing is $0/mo but it is a reliable tool nonetheless.

  • FREE
  • Invoicing tool only
  • Accept ten credit card payments per month (coming soon)
  • Track 10 expenses per month (coming soon)

Basic

The basic plan provides more advanced features along with the invoicing and customization tool. This plan is best suited for small businesses or individuals that need a full-service accounting software solution to handle things related to their business.

  • $20/mo
  • Invoicing
  • Accept payments
  • Key reporting access
  • Track invoices, expenses, sales, and tax
  • Double-entry ledger

Advanced

The advanced plan is best for scaling or growing small businesses that need inventory management and multiple user licenses. The smaller plans do not allow the same type of team access at such an affordable price. This is why Kashoo is so great, you can scale without breaking the bank.

  • $30/mo
  • Track income, expenses, sales, taxes, and payments.
  • Advanced reporting access
  • Multi-currency use
  • Inventory management
  • Payroll access
  • Multiple user licenses

Kashoo Pros and Cons

Pros

  • Simple and advanced reporting functionality.
  • Complete control over income and expense tracking.
  • Machine learning automation to identify and categorize transactions.
  • Fully functional mobile app.
  • Low-cost pricing at each tier.
  • Free invoicing tool for beginners.

Cons

  • Lack of customization for reporting.
  • No multi-currency option available on mobile app.
  • Limited access for the free plan.

Kashoo Alternatives

If you are not sold on Kashoo, here are a few of the best alternatives available that mimic some of the same features and functionality Kashoo can offer.

FreshBooks

Freshbooks is an accounting software that helps you to track your time, invoice clients, and send reminders. It is a cloud-based accounting software solution that helps you to track your time, invoice clients, and manage finances in one place.

Similar to Kashoo, the interface is easy to use and it allows for seamless integration with other important apps that many use to run a business. It also offers real-time customer support and syncing across devices with a reliable mobile application.

FreshBooks is a straightforward cloud-based accounting solution that offers features such as tracking time, managing expenses, and getting paid online.

However, compared to Kashoo the interface isn't very intuitive and can be confusing for newcomers to use when setting up their account for the first time. If you are looking for an easy option as a beginner, Kashoo is a better choice.

Overall, FreshBooks is a good accounting software solution with some drawbacks such as poor interface design and a steeper learning curve.

Xero

Xero is a cloud accounting software that helps small businesses manage their finances. It offers a number of powerful features and is easy to use for both businesses and accountants, but there are still some limitations.

The Xero accounting software has become popular among small business owners because it is so easy to use. It offers a number of powerful features, including streamlined invoicing and an intuitive dashboard.

Xero creates many useful tools that users can take advantage of too. They are one of the best accounting software options when you consider the wide range of integrations they support along with the free content and tools provided.

However, as you scale with Xero it can become extremely expensive fast. This is why Kashoo is so reliable because they maintain a low price despite adding better features as you upgrade your plans.

Wave

Wave accounting software review offers an easy-to-use, robust, and affordable accounting solution to small business owners. It is the most similar of these alternatives to Kashoo because of the low upfront cost and easy-to-understand interface.

The Wave platform is a cloud-based accounting software that is available on all devices and allows you to get up and running quickly. It’s designed for the small business owner who doesn't want the hassle of using an Excel spreadsheet or accessing multiple platforms to manage their finances. Wave provides a single platform that can be accessed from any device.

The main features of Wave accounting software are low monthly fees, a simple interface, multiple bank connections, invoicing, and many more.

Charles Hall

Charles Hall

Charles has spent 25 plus years in the world of accounting and business. His experience includes working as a CPA/Auditor international accounting firms. He has worked as a controller and as a COO for small to medium sized companies.

Learn more about Charles Hall