Kash is King - The Official Kashoo Blog

Accounting, business and technology insights for those who are blazing their own trail to success.

Business Owners: Are You Ready?

Posted by Nikki Layton on October 13, 2016 at 1:00 PM

When you’re a small business owner, being “ready” is the name of the game, especially when it comes to your business’ finances. Every year, every season, every month, and every week has deadlines you need to prepare for.

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Ask Yourself These Questions

  • Are you ready to remit sales tax?
  • Are you ready to take on new clients?
  • Are you ready to make payroll?
  • Are you ready to face an audit?
  • Are you ready to grow your business?

So, how’d you do? The good news is, you’re in the right place. With Kashoo Simple Online Accounting, you can be ready for all of those things, and be confident facing whatever else may come your way. So the next logical question is… how does Kashoo help me get ready?

Remit Sales Tax

Sales tax is a vital recurring deadline in your business. Creating systems that allow you to minimize the amount of work that you need to do to have accurate data at your fingertips is going to save you money and time! A great place to start is to set up your taxes in Kashoo. Every time you make a sale or input an expense, the tax that you charge or the tax you’ve paid is being tracked. No more spreadsheets or shoeboxes. No nasty surprises at the end of the quarter. You can see your tax liability or your tax refund every time you sign into Kashoo, and plan accordingly.

Learn the 3 most important things you can do with your online accounting to make tax prep a breeze.

Take on New Clients

As a small business owner, growing your business is crucial, but are you ready? Do you have the staff you need to service new clients? Do you have the inventory? Can you afford to acquire the additional resources and supplies you may need to take on new contracts?

Kashoo gives you access to valuable financial reports on your business. Get instant visibility into numbers like your net profit, your bank and line of credit balances, current and past due account receivables, and other important aspects of your business. This information is what you really need to make wise decisions for your business.

Payroll

As a small business owner making sure that your staff are happy is critical to your success, and part of keeping your staff happy is making sure that they get paid correctly and on-time. Kashoo knows that sometimes payroll comes before that big customer has paid their outstanding invoice. This is why we have invoice funding options that integrate with Kashoo, to ensure you have cash when you need it. Not to mention, we have some pretty great integrations with industry leading payroll providers. When someone is taking care of your payroll for you, it ensures your payroll is calculated accurately, and enables your payroll data to flow seamlessly into your payroll expense accounts in Kashoo.

Audits - Yikes

The word “audit” strikes fear into the hearts of every small business owner. But really, it doesn’t have to be scary, and the best defense is a good offense.  That’s exactly the reason why Kashoo has a built in Activity Report that allows you to track and view every transaction ever entered into your Kashoo account. Then, you can select any transaction, click on the “Change” link at the bottom, and quickly see a list of changes related to that specific transaction. Instantly know when the transaction was entered, when it was changed, and by whom.

When you are sitting in the room with your accountant and the auditor, you’ll have peace of mind knowing that all the answers are in the palm of your hand.

Growing Your Business

Growing your small business isn’t easy. Knowing which customers are your big spenders and which have lowered their purchasing volume is a really good first step to helping your business grow. If you have customers that spend a lot of money with you, they might be a great choice to do some cross promotion with or get a testimonial or referral from. Every business is different, but word of mouth is one of the most cost effective ways to grow your business. So which customers are your best customers? With Kashoo, your Profit and Loss Report can be sorted by Customer and Vendor, and you have all the information you need instantly. Analyze it month-over-month, know who to send “thank-you” cards to, and when to pick up the phone and get your customers re-engaged with your business.  

Start Using Kashoo and Be Ready

Kashoo Simple Online Accounting is used by thousands of small businesses to make sure they are ready for anything that’s thrown at them. You can start a 14-Day FREE Trial today, and see what Kashoo can do for you. No commitments, no hassle, and cancel at any time.

Topics: Accounting