The numbers do themselves with iK Accounting

Here are a few benefits of using iK Accounting:

1. Saves you time: automates routine tasks like expense tracking.
2. Improves accuracy: reduces mistakes normally made with manual data entry and calculations.
3. Saves you money: it’s more affordable than hiring a full-time accountant.
4. Better planning: gives you real-time insights into your financial health, helping with better decision-making.
5. Pain-free compliance: helps ensure compliance with tax regulations by keeping accurate records and generating reports for you.
6. Scalability: this small business accounting software grows with your business, evolving without the need for new systems or upgrades.
7. Accessibility: Allows you to access financial data from anywhere, making it easier to manage finances on the go.
8. Simplifies collaboration: you can share access to your real-time financial data with accountants or financial advisors.

Setting up iK Accounting is easy:

1. Login to your iK Dashboard. iK Accounting is only available to iKhokha merchants that are actively getting payouts through us. So, if you haven’t signed up, do that first.
2. On your dashboard open tap “Tell me more” in the iK Accounting banner.
3. Start your 30-day free trial.
4. Connect your bank account to iK Accounting to get the full automated experience.
5. After the free trial, we’ll automatically deduct the R189 (excl. VAT) subscription fee from your payouts on the day of billing.

Yes, you can use iK Accounting software without any accounting experience. In fact, it’s designed with simplicity in mind, making it easy to use for the novice right up to the professional.

iK Accounting easily and securely connects with your business bank account through stub’s software. Once you’ve signed up for your free trial, you’ll see the option to connect your bank account on your dashboard. Follow the prompts to get set up.

Used alongside your iK sales dashboard, here are some features you can use:

1. Invoicing: iK Invoice lets you create, send, and track your professional invoices.
2. Expense tracking: easily categorise and track expenses connecting your bank account. This helps in monitoring spending and managing cash flow.
3. Bank reconciliation: Connect your bank account and sync bank transactions to know how your business makes money.
4. Financial reporting: generate detailed financial reports like profit and loss statements, balance sheets, and cash flow statements. These reports give insights and help in decision-making.
5. Cash flow graph: Helps you see exactly how cash moves in and out of your business.
6. Tax preparation: simplify tax filing by keeping track of income and expenses throughout the year.
7. iKhokha payouts reconciliation: Automatically syncs iK Payouts and assigns them to income and expenses so that you know when and how much you’ve been paid.
8. Inventory management: use My Product and Services to track inventory levels, manage stock, bill for services, and create purchase orders.
9. Mobile access: the iK Dashboard is available on your iKhokha App. This lets you manage your finances on-the-go.

Accounting software helps small businesses operate more efficiently, stay organised, protect their sensitive financial data, and make better financial decisions, all of which are critical to their success and growth.