Designed specifically for small businesses
In 2008, May and Dobes Vandermeer spent weeks researching options for managing their growing software consulting business and never quite found what they were looking for, so out of a need for simple software for themselves, they designed Kashoo, “the first online accounting software aimed at helping small businesses organize and manage their finances,” and built the software using cloud computing and have made it completely mobile and focused on collaboration between team members.
Canada’s largest small business tax preparation and planning firm, FBC, invested n the company, and Kashoo was offered to FBC’s 50,000 clients overnight. The Vancouver startup has since expanded globally and is a leader in online accounting for small businesses from independent retailers, real estate professionals, photographers, to web developers.
Kashoo acknowledges that there are great tools for invoice tracking available and a lot of apps that record your receipts, but their major advantage is that they are more holistic and Kashoo follows the rules of GAAP (generally accepted accounting principles) so your accountant or tax preparation company will have everything they need (which saves you money).
Additionally, many accounting software options do not support most banks, but Kashoo is bank agnostic and they say “bank reconciliation is as simple as downloading your bank and credit card transactions and uploading them into Kashoo” as opposed to closed systems that force you to switch banks in order to use them – this is a huge win for small businesses that are support (or are being supported by) smaller, local banks.
Kashoo is software as a service (SaaS) which means they don’t charge you maintenance, update or upgrade fees whereas most accounting software does. There’s no set-up fee, no contract and they charge less than $10 per month for fully supported, unlimited user, accounting software. It’s all web based and you don’t have to install any software.
The company says, “Kashoo was born out of a need for collaborative accounting. It is now our mission to make sure your books are up to date.”