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Kashflow – Online Business Accounting Software

Kashflow Accounting Software From time to time we get clients and colleagues asking us what accounting software we use, if any. We use Kashflow which is an online accounting system that does everything we need and more.

Kashflow is ideal for sole traders, companies and also whether you are VAT registered or not. It allows you to store all of your accounts online securely, and access them from any web enabled computer or even an iPhone via their dedicated app. Kashflow allows not only your standard accounts but also an easy way to generate invoices and quotes for your customers, including setting up repeating billing, so once the repeat invoice is set up it can go out every X weeks, months or years. Invoices are automatically added to your turnover once they’re paid too.

For VAT registered businesses, the VAT liability for the quarter is always shown to you on the front overview page as soon as you log in, which is useful to know how much you need to be putting aside towards the VAT bill each quarter. You can also set your account up with your HMRC login details to submit your VAT return directly from Kashflow, saving you the hassle of copying the figures over to HMRC and doing it directly on there.

Finally, the number of reports available are excellent. There is a self assessment report, useful for sole traders, plus profit and loss reports, VAT reports and more. Kashflow isn’t just applicable to only web businesses such as ours, but any type of business would find it easier and more efficient to use than most of the standard accountancy packages such as Sage. Our Accountant has a login to our account too which means we can easily ask him to log in and check over items that we’re not sure if they’ve been correctly entered, or he can just get the end of year accounts and reports direct from the system, saving us the time having to download the accounts and take or email them over to him.

Kashflow has a 60 day trial period available, where you can sign up and try all of the account’s features for free. You don’t even need to give any card details. This is certainly a decent length of time to be able to assess whether it’s ideal for you. If you do then choose to pay for it, it costs £15.99 + VAT, however if you visit them by clicking on the icon above, this reduces the price by £1 + VAT per month.

It’s certainly worth a try if you haven’t got a suitable accounts system or you’re thinking about switching. It’s a major time saver for us which frees us up to be able to do more work!