Wave Accounting (suitable for smaller businesses) vs Kashoo
As a small business owner, choosing the right accounting software can be a daunting task. There are different accounting software programs available in the market, each with its unique sets of features and pricing plans. In this article, we will compare two popular accounting software, Wave Accounting and Kashoo, to help you make an informed decision on which one best suits your business needs.
Introduction: Understanding the importance of choosing the right accounting software
Accounting is a crucial aspect of any business, regardless of its size. As a business owner, you need to keep track of your expenses, sales, inventory, and taxes, among other things. Manual accounting can be time-consuming and error-prone, which is why many businesses are turning to automated accounting software to streamline their accounting processes. However, with so many options available, it can be difficult to choose the right accounting software for your business.
When choosing accounting software, it’s important to consider your business’s specific needs and requirements. For example, if you have a large inventory, you may need software that can handle inventory management and tracking. If you have multiple locations or employees, you may need software that allows for collaboration and access from different devices. Additionally, you should consider the cost of the software, as well as any ongoing fees or support costs. By carefully evaluating your options and choosing the right accounting software, you can save time, reduce errors, and improve the overall efficiency of your business.
Overview of Wave Accounting and Kashoo
Wave Accounting is a Toronto-based accounting software company that offers free and paid automated accounting and invoicing tools. It was founded in 2009 and currently serves over 4 million businesses worldwide. On the other hand, Kashoo is a Vancouver-based accounting software company that offers cloud-based accounting and invoicing software. It was founded in 2008 and currently serves over 30,000 businesses worldwide.
Both Wave Accounting and Kashoo offer a range of features to help businesses manage their finances. Wave Accounting’s free software includes accounting, invoicing, and receipt scanning tools, while their paid software offers additional features such as payroll and payment processing. Kashoo’s software includes features such as bank reconciliation, expense tracking, and financial reporting.
One key difference between the two companies is their pricing models. While Wave Accounting offers a free version of their software, Kashoo only offers a 14-day free trial before requiring users to sign up for a paid subscription. However, Kashoo’s pricing plans are more affordable than Wave Accounting’s paid plans, making it a more budget-friendly option for small businesses.
Features offered by Wave Accounting and Kashoo
Wave Accounting offers a range of features, including automated accounting, invoicing, receipt scanning, payroll management, and payment processing. The software is free to use, with additional paid features such as credit card processing and tax services. Kashoo also offers a range of features, including automated accounting, invoicing, receipt tracking, bank reconciliation, and expense tracking. The software has a 14-day free trial period, with different pricing plans based on the number of users and features required.
One of the unique features of Wave Accounting is its ability to integrate with other business tools such as PayPal, Etsy, and Shopify. This integration allows for seamless transactions and data transfer between platforms, making it easier for businesses to manage their finances. Additionally, Wave Accounting offers a mobile app that allows users to access their accounts and perform tasks on-the-go.
Kashoo, on the other hand, offers a feature called “Smart Inbox” which automatically categorizes and organizes receipts and invoices. This feature saves time and reduces the risk of errors in data entry. Kashoo also offers multi-currency support, making it a great option for businesses that operate internationally. With this feature, businesses can easily manage transactions in different currencies and get real-time exchange rate updates.
Pricing comparison between Wave Accounting and Kashoo
Wave Accounting offers a free accounting software with additional paid features such as credit card processing and payroll management. Kashoo offers a 14-day free trial period, with pricing plans starting at $19.95 per month. Both companies offer affordable pricing plans, making them an excellent choice for small businesses with limited budgets.
However, there are some differences between the two software options. Wave Accounting is known for its user-friendly interface and ease of use, making it a great option for those who are new to accounting software. On the other hand, Kashoo offers more advanced features such as inventory management and multi-currency support, making it a better choice for businesses with more complex accounting needs.
Another factor to consider is customer support. Wave Accounting offers email support and a comprehensive knowledge base, while Kashoo offers phone and email support during business hours. Depending on your business’s needs, one option may be more appealing than the other.
Ease of use and user interface comparison between Wave Accounting and Kashoo
Wave Accounting has a simple and user-friendly interface that makes accounting easy for small business owners. The software’s dashboard displays the latest financial transactions, account balances, and cash flow, making it easy to manage invoices, expenses, and payments. Kashoo also has a user-friendly interface that simplifies accounting for small business owners. The software’s dashboard displays the latest financial transactions, account balances, and payments, making it easy to manage accounting tasks.
However, when it comes to ease of use, Wave Accounting has an edge over Kashoo. Wave Accounting offers a more intuitive and streamlined user experience, with fewer clicks required to complete tasks. Additionally, Wave Accounting provides more customization options, allowing users to tailor the software to their specific business needs.
On the other hand, Kashoo offers more advanced features for accounting professionals, such as double-entry accounting and bank reconciliation. These features may be more suitable for businesses with more complex financial needs. Kashoo also offers a mobile app, which allows users to manage their accounting tasks on-the-go.
Customer support comparison between Wave Accounting and Kashoo
Wave Accounting offers free customer support through email, phone, and live chat, making it easy for users to get help when they need it. The company also has an online help center with detailed articles and tutorials on various accounting topics. Kashoo offers customer support through email and phone, making it easy for users to get help when they need it. The company also has an online help center with detailed articles and tutorials on various accounting topics.
However, there are some differences in the level of customer support offered by Wave Accounting and Kashoo. Wave Accounting provides 24/7 customer support through live chat, while Kashoo’s customer support is only available during business hours. Additionally, Wave Accounting offers a community forum where users can ask questions and get answers from other users, while Kashoo does not have this feature.
Another important aspect to consider is the quality of customer support. Wave Accounting has received high ratings for their customer support, with many users praising the quick response times and helpfulness of the support team. Kashoo has also received positive feedback for their customer support, but some users have reported longer wait times for responses and less helpful support.
Integrations offered by Wave Accounting and Kashoo
Wave Accounting integrates with a range of third-party applications, including PayPal, Shopify, and Etsy, among others. The software also has an open API that allows users to build custom integrations. Kashoo also integrates with a range of third-party applications, including Stripe, PayPal, and Square, among others.
Additionally, Wave Accounting offers integration with Google Sheets, allowing users to import and export data between the two platforms. Kashoo also offers integration with HubSpot, enabling users to sync customer data and invoices between the two systems.
Security features comparison between Wave Accounting and Kashoo
Wave Accounting uses bank-level security to protect user data, with SSL encryption and secure servers. The software also requires two-factor authentication for added security. Kashoo also uses bank-level security to protect user data, with SSL encryption and secure servers. The software also requires two-factor authentication for added security.
However, Wave Accounting offers an additional layer of security by regularly conducting vulnerability scans and penetration testing to identify and address any potential security threats. This ensures that the software is always up-to-date with the latest security measures and can quickly respond to any security breaches.
On the other hand, Kashoo provides users with the ability to set up role-based access control, which allows them to control who has access to sensitive financial information. This feature is particularly useful for businesses with multiple employees who need access to financial data, but not necessarily all of it.
Pros and cons of using Wave Accounting for small businesses
- Free accounting software with additional paid features
- Simple and user-friendly interface
- Integrates with a range of third-party applications
- Limited payroll features
- Reports have limited customization options
- No phone support
One additional advantage of using Wave Accounting is that it offers a mobile app for both iOS and Android devices, allowing small business owners to manage their finances on-the-go. The app provides access to key features such as invoicing, receipt scanning, and expense tracking, making it easier for business owners to stay on top of their finances even when they are away from their desk.
Pros and cons of using Kashoo for small businesses
- Cloud-based accounting software
- Integrates with a range of third-party applications
- Offers a mobile app for iOS and Android
- No live chat support
- No automatic bank feeds feature
- Mobile app has limited features compared to desktop version
One additional advantage of using Kashoo for small businesses is its affordability. Compared to other accounting software options, Kashoo offers a relatively low monthly subscription fee, making it a cost-effective choice for small businesses with limited budgets. Additionally, Kashoo offers a free trial period, allowing businesses to test the software before committing to a subscription.
Final verdict: Which accounting software is better for small businesses?
Both Wave Accounting and Kashoo offer excellent accounting software for small businesses, with unique sets of features and pricing plans. Wave Accounting is an excellent choice for businesses with limited budgets, while Kashoo is ideal for businesses that require a range of accounting features. Ultimately, the choice between Wave Accounting and Kashoo depends on your business needs and budget.
It is important to note that both Wave Accounting and Kashoo offer user-friendly interfaces and excellent customer support. Wave Accounting has a larger user base and a more established reputation, while Kashoo is a newer player in the market but has received positive reviews for its innovative features.
Another factor to consider is the integration with other business tools. Wave Accounting integrates with a wide range of third-party apps, while Kashoo has limited integration options. If your business relies heavily on other tools such as CRM or project management software, Wave Accounting may be the better choice.
Conclusion: Making the right choice for your business’s accounting needs
Choosing the right accounting software for your business is crucial, as it can make a significant difference in your accounting processes. Wave Accounting and Kashoo are both excellent accounting software programs that offer unique sets of features at affordable prices. Evaluate your business’s needs and budget to determine which software is right for you.