KashFlow pricing review – Is it the right choice for your business?

Managing finances effectively is a critical aspect of running a successful business. KashFlow, a UK-based cloud accounting software, promises to simplify accounting tasks for SMEs. This review examines KashFlow pricing structure, its features, and whether it’s the right choice for your business.

What is KashFlow?

KashFlow is designed with simplicity in mind, catering primarily to SMEs, freelancers, and sole traders. Its cloud-based platform allows users to manage invoicing, payroll, VAT returns, and more from any device with internet access. By automating time-consuming tasks, KashFlow aims to help businesses focus on growth.

KashFlow pricing plans review

KashFlow offers three main pricing tiers to suit different business needs. Each plan includes a 14-day free trial, allowing users to test the software before committing.

Starter Plan – £8 per month + VAT

The Starter Plan is ideal for sole traders and freelancers with basic accounting needs. Features include:

• Unlimited invoices and quotes
• Bank reconciliation
• VAT returns and MTD compliance
• Access for one user

While affordable, the plan lacks payroll functionality and multi-user access.

Business Plan – £15 per month + VAT

The Business Plan is tailored for growing SMEs. Features include:

• Everything in the Starter Plan
• Multi-currency functionality
• Additional user access

This plan strikes a balance between affordability and functionality, making it suitable for businesses with expanding operations.

Business + Payroll Plan – £21 per month + VAT

This comprehensive plan includes all features of the Business Plan plus payroll services for up to five employees. Features include:

• HMRC-recognised payroll system
• Automatic pension enrolment management

Businesses requiring both accounting and payroll services will find this plan highly convenient.

Key features of KashFlow

KashFlow’s features are designed to simplify and streamline business operations:

1. Invoicing – Customisable invoices and automated reminders help businesses maintain professionalism and ensure timely payments.
2. Bank feeds and reconciliation – KashFlow connects to major UK banks, allowing for real-time transaction tracking and effortless bank reconciliation.
3. VAT and tax compliance – The software is MTD-compliant, making VAT submissions to HMRC straightforward.
4. Payroll integration – Available in the Business + Payroll Plan, KashFlow’s payroll module ensures employees are paid accurately and on time while remaining HMRC-compliant.
5. Reporting and insights – KashFlow provides detailed financial reports, including profit and loss statements and cash flow forecasts, enabling informed decision-making.
6. Customisation and integrations – KashFlow integrates with popular tools like PayPal, GoCardless, and Mailchimp, offering seamless connectivity for enhanced efficiency.

Pros and cons of KashFlow

Pros

• User-friendly interface
• Affordable pricing tailored to SMEs
• MTD and HMRC compliance
• Flexible payroll options in higher-tier plans
• Integration with various business tools

Cons

• Limited features in the Starter Plan
• Payroll is only included in the highest-tier plan
• Customer support availability is limited to weekdays

Review verdict – Is KashFlow the right choice for your business?

KashFlow is a strong contender for UK SMEs looking for an intuitive, affordable accounting solution. It is particularly well-suited to sole traders and small businesses that require straightforward accounting tools without a steep learning curve.

However, businesses with complex requirements, such as advanced reporting or inventory management, may find KashFlow’s offerings limited compared to competitors like Xero or QuickBooks. Additionally, if you require payroll for a larger workforce, the system may become less cost-effective.

Conclusion

Here we conclude our Kashflow pricing review. KashFlow’s competitive pricing and robust features make it an attractive option for many UK businesses. Its ease of use and MTD compliance are significant advantages for SMEs navigating the complexities of accounting and tax regulations. However, it’s essential to evaluate your business needs thoroughly to ensure that KashFlow aligns with your operational goals.

By taking advantage of KashFlow’s free trial, you can assess whether it meets your expectations before committing. Ultimately, the decision comes down to your business’s size, budget, and specific accounting requirements.

FAQ – KashFlow pricing review