From the March 2013 Review of SaaS Small Business Accounting systems.
Kashoo is a SaaS accounting software company which pitches itself as a “real, simple cloud accounting solution for small business, with anytime, anywhere access via your iPad or Web Browser.” The product has a strong following in Canada, and is currently used by users in over 130 countries. Key features include a true double-entry general ledger, a permanent audit trail, simple reports, and the Kashoo “MVP” program for accounting professionals.
The name “Kashoo” is a play on words which arose from the business phrase, “are you making your nut?” (e.g. are you making money, does income exceed expenses?) This product is an easy to use tool which has traditional a double entry ledger, along with good iPad functionality.
Basic System Function: 4.5 Stars
Kashoo is a web-based tool designed to help small business owners and self employed people track their income, expenses, and cash flows. The product’s dashboard provides users with a snapshot of the company’s cash position, credit card balances, and net income. Users can enter most transactions without leaving this screen. All screens have a toolbar of shortcuts on the left side of the screen which offer quick access to other tasks, including reports, adjustments (journal entries), check printing, banking, add-ons, and settings.
Kashoo offers a free iPad application (no Android app as of yet), and the company’s website supports most major web browsers, including Firefox, Chrome, Safari, and Internet Explorer. The product includes a single simple chart of accounts, although users can import their own chart of accounts if needed. Complex account structures to facilitate profit center reporting are not natively supported.
Core Accounting Capabilities: 4 Stars
The product has a limited, but functional, set of basic reports, including accounts receivable aging, accounts payable aging, profit and loss, balance sheet, trial balance, transactions (general ledger), and a good audit trail report. Report customization is not supported, and third party report writers (e.g. Crystal Reports) cannot access company data.
Sales tax and value added tax (GST/HST/PST) calculations are supported from within the product, and users can withhold more than one sales tax rate on a single transaction (e.g. state, county, and local rates) and prepare reports for use when preparing sales tax returns. Integrated payroll is available as an add-on service for Canadian customers, but is not yet available for U.S. companies. The product is available only in English, and there are foreign localizations only for the U.S. and Canada.
Kashoo has extensive support for multiple currencies, and allows users to select from a list of supported currencies at setup. Transactions can be recorded in any of the selected currencies, and will be automatically translated into the reporting currency based on exchange rate tables maintained on the company’s servers.
Invoices can be sent via e-mail from the product, or can be downloaded as PDF files and printed. Mail merge of customer reminder letters is not supported, although there are third party integrations which make it possible for users to market to customers and prospects using the MailChimp e-mail marketing service.
Vendors and bills can be managed with the system, and check printing is supported using a special three-part check format. Users cannot initiate payments to customers from within the product, but instead must initiate these transactions using external bank or payment service websites.