TurboCASH is an open-source accounting software package that aims to help you streamline your accounting processes. The lead development team is based in South Africa, but contributors to the project are from all over the world. As a result, TurboCASH offers multiple language, currency, and taxation support. The upkeep provided by the development community means that users can expect timely updates whenever taxation rules and guidelines change. TurboCASH adheres to generally accepted accounting practices (GAAP) as well as international financial reporting standards (IFRS).
Who Uses TurboCASH?
Most TurboCASH users are small and midsize companies in Africa. It tends to be used by company owners who have opted to exert an active role over their financial processes. A variety of businesses have opted to use TurboCASH, such as restaurants, private academies, consultants and self-employed accounting auditors.
The following features are found in the fully licensed version of TurboCASH:
- General ledger (GL): This application allows users to copy existing books over from spreadsheets, take advantage of included templates, or create new books from scratch. The TurboCASH templates are highly recommended for all users; particularly those who operate cost centers in more than one supported country.
- Cash books: Connect to your bank account with the app in order to take advantage of their bank reconciliation function. This will help make sure that all of your accounts are giving you consistent and accurate information.
- Automated sales tax calculation: To help you stay nimble and compliant, the TurboCASH templates include sample books from various American jurisdictions such as California, Indiana, Kentucky, and New York. Even the free version of TurboCASH includes this valuable feature.
- Budgeting: Multiple cost centers and special projects can be configured when drafting budgets and tracking expenses.
- PDF reports: TurboCASH has all the standard financial reporting tools. Each of them can be configured in various ways according to your jurisdiction and style of business operations. The automated formatting feature makes all reports look visually appealing when converted to PDF format.
- Cloud implementation: The double-entry accounting function of TurboCASH can be accessed from the cloud as long as it’s deployed on Microsoft Azure or Amazon Web Services. This means that you can share real-time reports with users who connect from mobile devices. You can also retain the services of remote bookkeepers and accountants because they won’t need to come into the office to review your books.
- Multiple language and currency support: The open-source advantage of TurboCASH has allowed the application to support dozens of languages and currencies from around the world.
There are various software licensing options for this app. The annual license is a one-time payment that is tailored for single-user systems. Multi-user licenses are also available on a monthly subscription option. A free download of TurboCASH is always available for users who may not need the advanced options. For more pricing information, you can visit their website.
If you are the owner of a business and would like to have complete control over your company’s finances, TurboCASH could be right for you.