Kashflow accounting software is one of the new breed of software as a service providers that offer easy access to your accounts via cloud hosting. You don't need to install an app - just access the website and log in from whichever device you are using. When I setup the Storebuilder Limited company in May it was suggested to me by my accountant that I take a look at Kashflow because of it's ease of use, and yes indeed it is very user-friendly, even for those who have a dislike for bean counting.
The ability to be able to produce invoices or quotes while out of the office visiting clients is a brilliant feature and that alone is worth the monthly fee. These days giving quotes with speed and accuracy is necessary to win new business and to have to wait until you get back to the office is SO old fashioned.
Let's have a look at some of the great features of Kashflow accounting software:
1. It's ease of use.
If you've used Quickbooks or a similar system in the past, then Kashflow is going to come very easy to use. The user interface is very intuitive, and it's easy to find your way around. Setting up invoices and quotes is straightforward and customising them by adding your company logo and details is simple to do.
Setting up your client accounts and creating repeat payments is going to take a bit of time to do but that's true of any accounting system and my advice is that once you've got the basics of it sorted out ask your accountant to take a look and make sure everything looks right including verifying that the profit and loss works correctly.
Incidentally, another good reason for using Kashflow is that it is very easy for your accountant to check the entries and anything that reduces an accountants bill is a positive in my book!
2. It's Cloud Based
Being able to access your accounts whether sitting in your office on a desktop or waiting at the airport and checking things while you have 30 minutes to kill - cloud-based software is a huge progression over traditional software that is tied to a desktop or laptop and even limited by IP address. Software as a service (SaaS) makes everything easy for both the provider (easy licensing) and the user (easy access).
3. Rapid Quotations and Invoicing
Getting back to the office to generate a quotation is a thing of the past. If you want to compete for business in a rapidly changing marketplace, then you need to be fleet of foot. Generating quotes and invoices quickly is one of Kashflow's major strengths.
4. Dashboard Overview
Knowing exactly where you stand financially, what your VAT liability is and how much credit you have extended is just prudent business practice. The Kashflow dashboard makes it easy to see the whole picture.
5. Bank Reconciliation.
For a business like mine where incomes come from many streams (clients, affiliate revenues, advertising revenue, etc.Cost) and many payment methods (Paypal, Skrill, direct bank payments) being able to check each transaction and then reconcile and lock the transaction is one of the most powerful features.
The cost of ownership.
Accounting software has always been expensive in the past. I'm thinking of packages like Pegasus and Sage accounting which as well as being tied to a desktop or laptop come with a myriad of support options from the supplier (at a cost of course) and usually require a dedicated accounts person or three to manage them.
Starting at just £5 per month Kashflow is perfect for a new business startup, and if you want to add Payroll and Payslip integration, then you can go through the £10 per month option to £15 per month depending on your requirements.
Kashflow comes with a free trial, so you can use it for a couple of weeks and discover what it can do for you.
I'd recommend this software for any new business startup and those in the technology space in particular. For any business owner who wants to be able to view their overall financial standing wherever they are in the world then Kashflow is a great option.