Kashoo vs Wave Accounting (suitable for smaller businesses)

If you are a small business owner, you likely recognize the importance of tracking financial information. Despite the crucial role accounting plays in running a business, deciding on the right accounting software can be challenging. In this article, we will compare Kashoo and Wave Accounting – two popular accounting software options for small businesses. By the time you finish reading, you will have a better understanding of which software is best suited to your business needs.

Introduction to Kashoo and Wave Accounting

Before jumping into the differences between Kashoo and Wave Accounting, it is crucial to understand the basic features of each software. Kashoo is cloud-based accounting software that allows small business owners to manage financial accounts, track expenses, and create professional invoices. On the other hand, Wave Accounting offers free accounting software, which includes the same features as Kashoo, such as invoicing, expense tracking, and accounting tools. Wave Accounting also offers additional options such as receipt scanning, personal finance management tools, and payroll services.

One of the key differences between Kashoo and Wave Accounting is their pricing structure. While Wave Accounting offers a free version of their software, they also have paid plans that offer additional features and support. Kashoo, on the other hand, only offers paid plans, but they do offer a 14-day free trial for new users to test out the software before committing to a subscription.

Another important factor to consider when choosing between Kashoo and Wave Accounting is their customer support. Kashoo offers phone and email support during business hours, as well as a comprehensive knowledge base and community forum. Wave Accounting, on the other hand, offers email support and a help center with articles and tutorials, but does not offer phone support.

Key features of Kashoo and Wave Accounting

When comparing the key features of Kashoo and Wave Accounting, both options provide essential accounting functionality to small businesses. However, Kashoo has more robust features than Wave Accounting, including multi-currency support, inventory tracking, and multi-user functionality. Conversely, Wave Accounting has a more extensive range of service options, such as receipt scanning, expense tracking, and personal finance management tools. Additionally, Wave Accounting has payroll integration, which Kashoo does not offer directly.

It is important to note that both Kashoo and Wave Accounting offer cloud-based accounting software, which allows for easy access to financial data from anywhere with an internet connection. This feature is particularly useful for small business owners who need to access their financial information on-the-go or from multiple devices. Additionally, both options offer affordable pricing plans, with Kashoo starting at $16.65 per month and Wave Accounting offering a free option for basic accounting needs.

Cost comparison between Kashoo and Wave Accounting

One of the critical factors small business owners consider when choosing accounting software is the cost. While Kashoo offers a 14-day free trial, it is not entirely free; the pricing ranges from $19.95 to $29.95 per month, depending on the subscription plan selected. Wave Accounting, on the other hand, offers a more budget-friendly solution, with a free accounting software version that includes accounting tools, invoicing, and expense tracking features. For businesses looking for additional functionalities, Wave Accounting offers paid services, starting at $20 per month, such as receipt scanning, payroll integration, and additional accounting support.

Another factor to consider when choosing between Kashoo and Wave Accounting is the level of customer support provided. Kashoo offers email and phone support during business hours, as well as a comprehensive knowledge base and video tutorials. In contrast, Wave Accounting offers email support only, with no phone support available. However, Wave Accounting has an active online community forum where users can ask questions and receive support from other users.

Finally, it is worth noting that Kashoo and Wave Accounting differ in terms of their target audience. Kashoo is designed for small businesses with up to 10 employees, while Wave Accounting is suitable for businesses of all sizes. Additionally, Kashoo is more focused on providing accounting solutions, while Wave Accounting offers a broader range of features, including invoicing, payment processing, and payroll integration.

Ease of use comparison between Kashoo and Wave Accounting

Accounting software can be complicated to navigate and understand, particularly for those who are not finance-minded. When compared, both Kashoo and Wave Accounting are relatively easy to use. Kashoo offers a simple user interface, which allows users to navigate easily. However, some features may require additional learning for non-accountants. Conversely, Wave Accounting offers a user-friendly experience, with straightforward navigation menus that are easy to understand. From a usability standpoint, both options provide excellent choices for small businesses without finance backgrounds.

One area where Kashoo stands out is in its customer support. The company offers a variety of resources, including a knowledge base, video tutorials, and live chat support. This can be particularly helpful for those who are new to accounting software and need additional guidance. On the other hand, Wave Accounting offers limited customer support options, with only email support available for free users.

Another factor to consider when comparing Kashoo and Wave Accounting is their pricing models. Kashoo offers a free trial period, after which users must pay a monthly subscription fee. The cost varies depending on the number of users and features required. In contrast, Wave Accounting is completely free to use, with no hidden fees or charges. However, some advanced features may require payment.

Integration options with other software/tools

Small businesses often require integration with other software tools to work efficiently. Both Kashoo and Wave Accounting offer integrations with a wide range of other software tools. For example, Kashoo allows integration with third-party payment platforms like Stripe and Square, as well as other business software solutions such as Shopify. In contrast, Wave Accounting offers integrations with Salesforce, G Suite, and PayPal. While it ultimately depends on the specific software integration needs, both Kashoo and Wave Accounting provide excellent choices for businesses looking for integration options with other software/tools.

Another software tool that Kashoo integrates with is HubSpot, a popular customer relationship management (CRM) platform. This integration allows businesses to easily track their sales and customer interactions in one place. Additionally, Kashoo also offers integration with TSheets, a time tracking software, which can be useful for businesses that need to track employee hours for payroll purposes.

On the other hand, Wave Accounting also offers integration with popular e-commerce platforms such as Etsy and Amazon, which can be beneficial for businesses that sell products online. Furthermore, Wave Accounting also integrates with Zapier, a platform that allows businesses to automate tasks between different software tools, saving time and increasing efficiency.

Customer support comparison between Kashoo and Wave Accounting

When it comes to customer support, both Kashoo and Wave Accounting offer similar options. Both provide email support and phone support during regular business hours. Kashoo additionally offers live chat support, whereas Wave Accounting offers a more extensive help center with online resources and community forums. Therefore, both options provide excellent customer support features, with Kashoo offering live chat support leading the way in this category.

Security and data privacy comparison between Kashoo and Wave Accounting

Data privacy and security have become increasingly important for businesses, and accounting software that prioritizes these aspects is essential. When compared, Kashoo and Wave Accounting both provide secure options for businesses, with 256-bit secure socket layer (SSL) encryption for data transmission. Kashoo additionally provides an extra layer of security by encrypting user data using the advanced encryption standard (AES)-256. Both options also allow for data export and provide the ability to download financial reports onto the user’s device.

User reviews of Kashoo and Wave Accounting

User reviews can shine a bright light on the quality, reliability, and usability of a product. When comparing the two options, both Kashoo and Wave Accounting have generally positive reviews. Kashoo users appreciate the software’s robust features, especially for multi-lingual and multi-currency support, inventory tracking, and custom reporting. On the other hand, many Wave Accounting users appreciate the free version’s unlimited invoicing, receipt scanning, and personal finance management tools. The payroll integration feature in Wave Accounting is also widely appreciated among users. Overall, both options have relatively positive reviews, with positive feedback outweighing negative comments.

Which accounting software is best for your small business?

After comparing Kashoo and Wave Accounting across various categories, it is essential to consider which option is best for your business. If you have an international business or require multi-currency and language support, Kashoo is likely a better choice. However, if you prefer a free accounting software option with personal finance management, receipt scanning, and unlimited invoicing capabilities, Wave Accounting is a better choice. Both options provide excellent accounting software solutions for small businesses, and it ultimately comes down to which features and options are most important for your business needs.

Pros and cons of using Kashoo for small businesses

Pros:

• Robust features, including multi-currency support and inventory tracking
• Provides an encryption layer beyond SSL
• Allows for customization of financial reports

Cons:

• Higher monthly subscription cost compared to Wave Accounting
• May require additional training for non-accountants to use
• Limited customer support options compared to Wave Accounting

Pros and cons of using Wave Accounting for small businesses

Pros:

• Free accounting software version with accounting tools and unlimited invoicing
• Payroll integration options
• Receipt scanning and personal finance management tools

Cons:

• Limited robust features when compared to Kashoo
• Less flexibility in customization of financial reporting
• Paid services can accumulate costs quickly for additional functionality

How to switch from one accounting software to another

Switching from one accounting software to another can be a daunting task, but it does not have to be challenging. Before switching software, it is essential to back up and download all current financial data to avoid data loss. Next, select a new software solution to use and take advantage of any training materials provided for a seamless transition. Finally, import all backed-up financial data, check for accuracy and begin using the new software. Take time to learn the new features and options to maximize the software’s benefits.

Tips for getting the most out of your accounting software

To get the most out of your accounting software, it is essential to maintain accurate financial records and keep organized transaction data. Additionally, take advantage of all the software’s features, including invoicing, receipt tracking, and financial reporting, to get a complete picture of the business’s financial position. By regularly reconciling all transactions and reviewing financial reports, businesses can make informed decisions to improve performance and profitability.

Alternatives to Kashoo and Wave Accounting for small businesses

While Kashoo and Wave Accounting provide excellent accounting software options for small businesses, there are other alternatives available. For example, QuickBooks Online, Zoho Books, and Xero are all popular accounting software choices for small businesses. These options offer a range of features, customizations, and integrations with other software and tools.

Conclusion

Choosing the right accounting software is essential for small businesses and can have a significant impact on financial management and business performance. Kashoo and Wave Accounting are popular accounting software options suitable for small businesses. By comparing their features, ease of use, customer service options, and cost, business owners can make an informed decision on which option suits their needs best. No matter which accounting software is chosen, it is vital to stay organized, keep accurate financial records, and take advantage of all the features for improved financial management and business success.