Books that already know the local taxes.
Kaiso Bookkeeping is accounting for small businesses in the Eastern Caribbean and the accountants who look after them. Invoices, bills, the bank, stock and VAT in one place, with payroll, marina billing and till takings posted for you.
Everything a small business files
Invoices, quotes and credit notes
In EC$ or US$, printed as a tax invoice with your VAT number and bank details. A quote becomes an invoice in one click, and you can see who has paid and who is late.
Bills and expenses
Supplier bills to pay later, receipts paid on the spot, and supplier credits. VAT paid at Customs on imports is recorded separately, so you claim all of it.
Stock at average cost
Bills bring stock in at what you paid. Every sale takes it out and records the cost, so your gross profit is right each month. Stock counts post any difference.
VAT returns
Taxable, zero-rated and exempt sales, VAT on local purchases and at Customs, and the amount to pay or claim back, with the invoices and bills behind each figure.
Reports your accountant expects
Profit and loss, balance sheet, trial balance, general ledger, and who owes what by age, for any period and as a spreadsheet.
Lock the books
Once a VAT period or year is filed, close it. Nothing dated on or before that day can be changed, so the figures you filed stay filed.
Your bank statement, matched in minutes
Download the statement from your bank's online banking as a CSV and upload it. Kaiso reads the dates and amounts, skips lines it has already seen, and suggests a match for each one.
- 1Customer paymentsA deposit with the invoice number or the right amount is matched to that invoice.
- 2Your own rules"SERVICE CHARGE" always goes to bank charges; "GRENLEC" always goes to electricity, with the VAT split out.
- 3ReconcileEnter the statement's closing balance and Kaiso shows any difference to find.
Year end without the shoebox
The taxes a Grenada company deals with each year are worked out from the books you already keep.
Income tax: the year's profit, with depreciation added back, capital allowances on your assets, and losses brought forward from earlier years.
Annual Stamp Tax: gross receipts for the year, with anything that isn't a receipt left out, at the rate for your turnover.
Assets and loans: monthly depreciation, gains and losses when you sell, and each loan payment split into interest and capital.
Questions
Can I bring my figures over from another system?
Yes. Enter what's in each bank on your start date, the invoices customers still owe, the bills you still owe, and your stock. Kaiso balances the rest to opening equity, and your accountant can add the full balance sheet as a journal.
Which banks does it work with?
Any bank or credit union that lets you download a statement as CSV or "Excel CSV" from online banking. Kaiso works out the columns and the date format.
Does it file my VAT return?
No. It works out every figure and shows the invoices and bills behind them. You copy the figures into the IRD's online filing system, then record the payment in Kaiso.
Do I need Kaiso Payroll?
Payroll comes with it under the same login. If you run your pay runs in Kaiso, wages, NIS and PAYE post to the books when each pay run is approved.
What does it cost?
Try it free for 30 days. Get in touch for the monthly price in EC$, or ask your accountant about practice rates.