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Online accounting review: KashFlow

Launched in 2005, KashFlow is one of the more established online accounts services available in the UK. It is a couple of years since I last reviewed it and I was frankly blown away by the depth and breadth of the current version. At only £15.99 + VAT per month – which is guaranteed NEVER to increase in future once you sign up – it represents outstanding value and has to be on the shortlist for any SME looking to go online.

Getting started

Initial setup is quick and easy, and no credit card is required to create a free 60-day trial account. Your user credentials comprise a user name, password and “memorable word”, from which you have to enter three randomly selected letters each time you log on. Unlike other services, your business has only one login which must be shared between users, so you cannot give restricted access to some users. Initial data can be imported from a CSV file or Sage 50, and customer and supplier details (only) can be imported from QuickBooks. The program opens with a good looking Overview screen with charts of bank and sales movements, quick links to commonly used areas and a useful RSS feed of recent changes and additions to KashFlow. KashFlow doesn't handle full multi-currency accounting, but you can invoice in foreign currency and use automatic currency conversion with constantly updated exchange rates and automatic posting of currency gains and losses.

Data entry

Bank postings are straightforward. Non-ledger transactions, whether balance sheet or P&L, are posted from the same screen; you simply specify whether it's a receipt or a payment. KashFlow does not support automatic bank feeds or bank data import from standard electronic bank statements. KashFlow has adopted a plain English approach, so if you want to post a purchase invoice you need to go to the menu option entitled Add New Receipt. You then have an unpaid “receipt”, which seems contradictory! I am not convinced that this makes the software any easier for the lay person to understand. There is good integration with PayPal and most merchant account providers, so users can take card payments for sales from within KashFlow. If you use quotes or estimates these can be used as the entry point for all orders, and can be converted into invoices later.

Accountant / Bookkeeper - Quickbooks Online - Australian Business ...

Job purpose: to provide bookkeeping and basic accounting services to support the small business. You will be setting up a Quickbooks Online-based bookkeeping system that is appropriate for the business, and you will be keeping the books accurate and up-to-date and using this to provide high-level advice to management to allow decisions to be made.

Requirements: - ongoing: long-term (1+ years): separate contract for this. This would average perhaps 10-20 hours / month. (You will already have automated most of the repetitive tasks via BankLink.)

To be considered for this role, you must include in your application the following information:

- Which Australian banks can QuickBooks Online import statements from automatically?

(This would take a few minutes to look up, and shows that you have read this job description.

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