Home > Start Up Guide
What is Different About The New Kashoo TSB?
Our latest version of Kashoo is simply revolutionary, and it's about time. With current technology and secure transfer of financial data, we are able to move away from the cumbersome work flow of accountants and design an accounting system tuned to the needs of business owners.
Kashoo takes care of the accounting complexities for you, by eliminating time-consuming data entry and bookkeeping activities of the past. Follow our recommended time-saving methods and enjoy the confidence of having accurate financials.
Getting Started with Kashoo is simple. You can be up and running in minutes without needing all your business data at your fingertips before getting started. You can use Kashoo immediately, and fill in any historical or missing data when you are ready.
Step 1: Create a User Account
Create your Kashoo login "Email" and "Password" to get started. If you already have a Kashoo user account for an existing Kashoo Business, click on the Log in here link at the bottom of the page.
Step 2: Input Business Data
Besides your name, address, and phone, we'd like to know about your business.
Choose a "Transaction Start Date" that reflects how much data you would like to pull into Kashoo. If you are thinking of bringing in historical data, be sure to choose a date that reflects that. Otherwise, we suggest using the start of most recent fiscal year.
It is important to choose your business "Industry", because Kashoo creates a Chart of Accounts specific to your industry based on this information. Our Chart of Accounts is optimized for automatic tax calculation and reporting to the CRA and IRS.
Step 3: Input Tax Filing Details
Next, let us know your tax filing status. Kashoo will track and report, and even calculate and extract the correct amount of tax from your transactions and receipts.
Changing your tax filing status after data has been imported, impacts categorization of your transactions and reporting. If you skip this step, be sure to update your Tax Filing status within the application prior to importing any transactions. You can safely change your Tax ID at any time from within the application.
Step 4: Connect your Bank Accounts
Last and most important, connect your business bank accounts. This is where the magic of Kashoo happens. When your bank feeds us your transaction data, we have the most accurate records, and can calculate tax, categorize records, and reconcile accounts for you. This is the best way to minimize effort, and reduce errors in your business accounting.
Step 5: Start Using Kashoo! Head to the Smart Inbox.
Now that your business has been created, you will enter the Smart Inbox where all the imported records are displayed. At the top of the display, you will see your connected accounts, from which these records were received. Review the records for completeness and click on the post function to move the records to your company ledger.
Over time, your need to review will be reduced, as Kashoo's machine learning and user-defined rules will automatically categorize and post incoming records for you. Each time you use Kashoo, you train Kashoo to handle your transactions in the manner you want for your business.
Tools are provided for the efficient and quick review of records. Throughout the application, you can collapse the menu for more room to view your data. You may sort, filter or search to locate records, then use bulk editing and posting to quickly move through your transactions. For an in-depth look at how to manage your Smart Inbox, see:
Related Article: The Smart Inbox
When there are no more items in your Inbox, it's time to navigate to the other areas of Kashoo to view your dashboard, create Invoices, upload receipts, run reports, and handle many more functions integral to your business. See our simplified menu for your next steps.
- Update Business Contact information
- Manage additional User Accounts. You can have an unlimited number of users within one Kashoo Business Account.
- Manage your Kashoo Subscription and Billing.
- Review and categorize all new transactions coming into your account. The yellow badge displays how many items are ready for review.
- Upload receipts, transaction files from your bank
- View your account's connection status, or connect additional bank accounts.
- See business health graphs and charts.
- Key financial figures such as sales income and expenses to date.
- View all reviewed transactions.
- Add individual records for income, expenses, transfers, income refunds and expense refunds.
- Create and manage client invoices.
- Accept payments.
Bills to Pay:
- Create, manage, and pay your bills.
- Create and manage business and individual contacts.
- View all transactions related to a specific contact.
- Create groups of contacts for reporting is coming soon.
- Manage your Chart of Accounts.
- Reconcile bank and credit accounts.
- Add adjustments.
- Edit opening balances.
- Canadian taxes are pre-configured for each business.
- Creation and management of US sales tax coming soon.
- View Profit and Loss, Balance Sheet, Sales Tax, General Ledger and Unpaid Bills & Invoices reports.
- Create and save customized reports.