KashFlow
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| Founded | London, UK |
|---|---|
| Headquarters | London |
| Founder(s) | Duane Jackson |
| Website | www.kashflow.com |
KashFlow is a privately owned software company based in London, United Kingdom that specialises in online accounting software for small businesses owners with an emphasis on ease of use, automation and integration.
History
Established in 1998 Kashflow software developed as a nimble small business enterprise (SME) alternative to traditional desktop accounting software like Sage, Quickbooks or inadequate workarounds such as Word or Excel.
Outdated interfaces and steep learning curves plus the high accounting software package prices charged to startups, were issues the early software sought to redress for SMEs constrained with limited budgets and time.
KashFlow rapidly established a strong following across small and micro businesses after first marketing to members of the Federation of Small Businesses and The Prince’s Trust.
With initial funding from the Prince’s Trust and under guidance from then Chairman Lord Young (former Cable and Wireless Chairman), vigorous early growth was fueled by a combination of how easy their software was to use plus a disruptive low cost pricing model.
KashFlow’s low cost recurring payment model was an industry first and proved popular.
The model paved the way for a new generation of affordable accountancy SaaS products paid for in this way. This ‘rental’ style payment model is now preferred by most software vendors, providing companies with predictable income and aiding financial stability.
Product
The KashFlow product enables small businesses to focus on their day-to-day priorities by removing the complexity associated with accounting and payroll.
Each client pays a flat monthly subscription fee to access their bookkeeping software on the internet. This gives them access to their accounts on any computer or smart enabled device via the ‘Cloud’ without needing to download, install or manage any software.
There are currently three editions of KashFlow software available, offering multi-tiered pricing to suit different types of business from sole traders to corporates.
The ‘Business + Payroll’ edition includes “KashFlow Payroll”, a fully integrated online payroll solution that shares information with KashFlow with the click of a button.
It also provides support for the latest legislative changes such as Real Time Information (RTI) providing hands free reporting to HMRC and other UK legislative bodies.
KEY FEATURES
Automatic bank feeds provide near real time updates for linked bank accounts. (Multiple bank accounts may be added). Bank grade security in the cloud—accounts are therefore safe even if computers die. Magic Reconciliation™—automatically calculates a business's target reconciliation balance, and flags transactions already imported into KashFlow as pre-reconciled helping match bank statements with KashFlow account entries. Unlimited* customisable, editable invoices including repeat invoicing. Unlimited transactions* and transfers between bank accounts. Unlimited quotes and estimates. Multi currency* Automatic Credit control including email notification of unpaid invoices and pre-written reminder letters for overdue invoices. Income, expenditure and general reports. Vat Returns and EC Sales lists can be all be filed directly to HMRC, all from within the software itself.
PAYROLL FEATURES*
- HMRC accredited “KashFlow Payroll” software processes company’s pay, delivers employees’ payslips and automatically files RTI submissions online.
- Unlimited companies and employees can be managed with one software.
- End-to-end auto-enrolment service enables automatic enrolment of qualifying employees. It calculates required employee and employer contribution levels to ensure business owners remain fully compliant with all workplace pensions Automatic Enrolment legislation.
- Keeps employee records compliant and secure managing Statutory Sick (SSP), Maternity (SMP) and Paternity pay (OSPP) as well as Student Loans, Attachment of Earnings Orders and more.
ACCOUNTING FEATURES
- Features such as an Asset Register with options for automatic depreciation (straight line and reducing balance) are included.
- Post journal entries, set up journal templates and reversing journals.
- Departmental accounting; run financial reports (P&L, Nominal Ledger, etc.) based on just a specific department/project as well as on all data.
- Supports Standard VAT, the Flat Rate Scheme, Cash Accounting (as well as Cash FRS) and EC Sales Lists. Vat Returns and EC Sales lists can be filed directly to HMRC from within KashFlow software.
- Support for CIS from both a contractor and subcontractor perspective. Deductions are handled and reports are produced.
- Entries starred above are not available on some versions of KashFlow.
API AND INTEGRATIONS
KashFlow integrates with over 85 other systems such as PayPal, Dropbox, Barclaycard, Worldpay, Stripe, MailChimp and GoCardless to name a few. CRM, ecommerce, email programmes, payment processors, payroll software, inventory management are areas where software vendors partner with KashFlow to extend core functionality.
AWARDS
KashFlow have a history of winning awards. See below.
- KashFlow Accounting Software has been shortlisted for the Digital Business of the Year for the 2015 Lloyds Bank National Business Awards. Finalists were drawn from hundreds of entries across eighteen award categories, winner to be announced November 2015.
- 2015 Internet Business Awards—High Commendation in the Business Product/Service category which sets out to recognise the best in UK internet businesses.
- 2013 UK Business Angels Association—High Growth Team of the Year. KashFlow took the award reflecting the company’s goal to continue doubling growth year on year.
- 2012 Software Satisfaction Awards—Best SME Accounting and Finance. KashFlow took the prize for Best Accounting Software for SMEs. It was the fifth year (out of a possible six) KashFlow won at the SSAs.
- 2012 Smarta 100 Awards—KashFlow named one of the UK’s most exciting and disruptive businesses.
- 2011 Software Satisfaction Awards—Best SME Accounting and Finance. KashFlow won the award with an overall Software Satisfaction Score of 96.25%.
- 2009 Software Satisfaction Awards—Double Winner. KashFlow won across both traditional desktop applications and web-based products.
- 2008 Software Satisfaction Awards—Best Small Business Accounting Software. Sift Media, owners of UKBusinessForums and BusinessZone, surveyed thousands of accountants and small business owners to get their views on the software products they use. The main category was the “Small Business Accounting Software” category. KashFlow was listed amongst the 4 industry leading products and won the category, receiving more than 3 times the share of the vote that Sage 50 received.
- 2007 Software Satisfaction Awards—Best Web-based Accounting Software. Sift Media conducted an independent survey of thousands of users of small business software. People were asked to rate the products they’d used in four key areas: ease of use, functionality, value for money and reliability. KashFlow took 67% of the vote and beat all other products by a wide margin.
See also
- Lord Young
- Accounting software