One on One: Kashoo

*One on One is a series of reviews. Instead of a long-winded breakdown, I give you a quick summary along with one positive and one negative. *


In my first One on One review I talked about Wave. I thought I'd keep going through the bookkeeping services I use with my clients, so today I will be featuring another great service based in Canada.

Name: Kashoo

Description: Kashoo is a bookkeeping service based in Canada. It syncs and downloads bank transactions automatically, syncs with services like FreshBooks for invoicing and PaymentEvolution for payroll, and has very full featured mobile apps.

Cost: $5/m for Solo and $20/m for Business

One Positive: Kashoo’s implementation of the FreshBooks API makes it’s sync far better than any other FreshBooks integration I’ve used. (hint: someone else’s FB sync will be their “one negative” on a future post)

Once you have authorized Kashoo to sync with your FreshBooks account, you have a lot of control with how the data comes into Kashoo. Every line item and payment method gets mapped to the proper account in Kashoo. Other apps just let you pick one default bank account and one default income account, so this eliminates a lot of unwanted manual work.

While there are plenty of other good things to mention, they did so much better at this than their competitors I just had to highlight it.

One Negative: Setting up automatic downloads from your bank account is a great feature. But when it doesn’t work I often have to use spreadsheets or bank downloads to manually upload statements.

Kashoo is the only app that I’ve had consistent problems using csv files (one of the common filetypes for this type of thing). The issues I’ve had are a bit too complex to try to summarize, but let’s just say it makes bank reconcilations a nightmare if things don’t go well during the upload.

Final Thoughts: Kashoo is a powerful service on its own, but it really shines when you also use FreshBooks for invoicing and something like PaymentEvolution for payroll.

Kashoo

One on One: Wave

One on One is a series of reviews. Instead of a long-winded breakdown, I give you a quick summary along with one positive and one negative.


Name: Wave

Description: Wave is a bookkeeping service. It handles all aspects of small business bookkeeping. It handles invoicing, syncs and downloads transactions from your bank accounts, and even keeps track of your personal finances in a separate tab.

Cost: Wave is completely free for the core bookkeeping services. It also offers an optional payroll service for a (very) small fee based on number of employees, and they have paid premium training provided by accounting professionals.

One Positive: The transaction reconciliation screen has been improved dramatically over the years and just might be my favourite implementation across all the bookkeeping services I use. If you have a large list of transactions to categorize Wave does a great job of selecting, categorizing, and approving multiple transactions at once. If it was to implement a rules system like Xero uses it would be pretty close to perfect.

One Negative: The way Wave displays reports drive me bonkers. To be honest, no bookkeeping software does reports the way I'd prefer, but this one is particularly bad. The big thing I dislike is the way they're actually displayed. Income Statements will tend to default to either sorting the accounts by account number or name. I find it important to give the option to toggle between these two, but I can live with one or the other. For some reason Wave doesn't do either. The accounts seem to be displayed randomly, and the only way to display them properly is to download them to Excel and sort them there.

Final Thoughts: If you are running a small business on a budget and would like to keep all your bookkeeping in one app, I think you should take Wave for a test drive.