Can I switch to Kashoo TSB right away?

February and March are the most popular times for Business Owners to sign up for accounting software. We really wanted to get Kashoo TSB into the hands of new subscribers. At the same time, this is also the busiest time for our current clients and in the past, you’ve asked that we not introduce big changes during tax season. 

Therefore we released Kashoo TSB for new customers, with the intent of finalizing steps for our existing customers to switch later. Not everyone will want to wait, but that is why you’re not seeing upgrade messages in the application. There are also some features such as Projects, Bills-To-Pay, and Multi-Currency that are coming shortly, but are not in the initial release. 

Will I Pay Anything More?

Absolutely not! If you are already subscribed to a monthly or annual plan, you can transfer that subscription over to the Kashoo TSB version. Just set up your new Kashoo account in Kashoo TSB and contact our support who will help you transfer over the subscription.

You can still view your historical data in Kashoo Classic once you’ve transferred over by requesting “view-only” access to your account. Otherwise, once you’ve set up your business and subscription within Kashoo TSB, we will automatically remove your Kashoo Classic business.

What Is Different About Kashoo TSB?

The new application is designed around our Smart Inbox, where Kashoo presents your bank transactions pre-reconciled between accounts, pre-categorized, and ready for inclusion in your General Ledger.

We have eliminated time-consuming data entry and the bookkeeping activities of the past. You’ll also see new reports, dashboards, and easier ways to edit and view your information. 

Will I be required to switch to Kashoo TSB?

There are no plans to discontinue our Kashoo Classic application. Businesses will be able to continue using Kashoo Classic as long as they are running their business.

We will continue to upgrade Kashoo Classic as needed.

Are all features I use now supported in Kashoo TSB?

At this time the following features are not available in Kashoo TSB. If you rely on any of these features, stay tuned for updates. 

  • Multiple Currencies 
  • US Sales Tax
  • Items/Inventory
  • Projects
  • Square, Payment Evolution, and SurePayroll Integrations

We also have new iOS and Android apps coming soon. 

Can I switch back to Kashoo Classic if I change my mind?

We cannot switch a business back and forth between the old and new versions of Kashoo. You will need to create a new Kashoo TSB business.

However, the data in your existing Kashoo Classic business will remain, and you will always be able to access your data. You can flip between a Kashoo Classic business and your Kashoo TSB from the Business Selection Menus.

Can I test Kashoo TSB before deciding what to do?

Yes! Simply click on the "Add Kashoo TSB Business" from the Kashoo Business Selection Menu and create a new business.  

Important! When creating a new Business choose a Transaction Start Date that reflects how far back in time you would like to populate Kashoo TSB with data. We recommend starting at the beginning of your current fiscal year.

Can I move my existing Kashoo Classic data to the Kashoo TSB?

Due to the design changes between the two versions, data cannot be automatically migrated from Kashoo Classic to Kashoo TSB.

The recommended process is to migrate any historical data is as follows:

  1. Create Kashoo TSB Business
  2. Connect Bank Feeds in Kashoo TSB.
  3. Adjust COA as needed (or keep the recommended Kashoo provided COA)
  4. Clear Bank Transactions 
  5. Backfill missing transaction data with Bank Transaction file uploads

In Kashoo TSB, you are able to import and clear a year of transaction data in less than 30 minutes. Our auto-categorization and ability to process transactions in bulk makes this the quickest path to import historical data.  

Your contacts are automatically created during the process of clearing transactions as well.

How do I set up my Chart of Accounts?

Kashoo TSB creates a chart of accounts for you, with all expense accounts optimized for tax reporting to the CRA and IRS. 

One of the largest areas of mistakes in accounting and financial reporting, is the creation of a custom COAs that do not adhere to tax reporting standards. We highly recommend businesses use the default COA in Kashoo TSB if possible.

However, you can add additional accounts to the default COA in the Account Section.

Do I have to connect my bank feed?

Kashoo TSB will still accept manual entry of transactions, or transaction file uploads. But, in order to get all the benefits from Kashoo TSB and tap into our machine learning and categorization, you will have to connect your bank feed! 

If my bank does not work with Kashoo, how can I import my transactions?

You will be able to upload bank transaction files into Kashoo. We accept QFX, OFX, or QBO files. Please select one of these options from the export/download section in your online banking portal.

Related Article: Importing Transaction Data

Is there the ability to mass update transactions?

Yes! You can bulk categorize transactions by selecting multiple transactions in your Smart Inbox and posting them all at once. 

Related Article: The Smart Inbox

How do I remove transactions from Kashoo? 

Transactions that come into Kashoo from a connected bank feed, cannot be removed. They are required to accurately reconcile the amounts in your bank account to the cleared transactions in Kashoo. 

However, you can mark a specific transaction as personal if it does not apply to your business, and it will not be incorporated in your Dashboard or Reports.

Can I set user roles?

We currently have two user roles which are Admin (for Bookkeepers & CPAs) and Business Owner. More roles will be added in the future.

Can I import my data from Quickbooks or other programs?

If you are trying to bring in historical transactions from another online accounting system, we recommend simply connecting your bank accounts to Kashoo. We will retrieve all the transactions for you into the Kashoo Chart of Accounts that are optimized for tax reporting to the CRA and IRS. 

Going through even one year of transactional data is fast and easy, and much more streamlined and accurate than importing from other systems.

Will Kashoo TSB support integrations?

Kashoo TSB will not support any integrations at the time of release. New integrations will be announced as they are released.

Can I add additional businesses?

Yes absolutely! Each additional business requires its own subscription. If you have more than 5 business you’d like to add please contact us by phone, email, or live chat to get a package quote. 

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