![]() ![]() You can also upload receipts from a computer file or your phone on both the browser-based and mobile versions (more on that later). Manual income and expense transactions are allowed. It’s not possible to pay bills through TrulySmall Accounting like you can in Intuit QuickBooks Online, but there’s a form for recording payments. You can enter very basic details about bills in a table and view all of them on a landing page similar to the invoices landing page (only for payables, of course). You can’t view them on screen you can only see them when you generate a PDF. Second, summary statements are simplified lists of outstanding invoices. ![]() ![]() First, activity statements are detailed tallies of invoices, payments, and credits. These aren’t rocket science, but I didn’t expect to see them in this app. TrulySmall Accounting also supports customer statements. All this is standard stuff for small business accounting. If you set up payments (extra fees apply), your customers will be able to pay you quickly using credit cards or direct bank payments. Buttons at the top of the page display your fiscal year total, average days to pay, total outstanding, and past due. Individual invoices or batches of them can be edited, removed, sent by email, duplicated, and paid. You can filter the list, search for transactions, and view them by status (All, Paid, Current, and Past Due). Your invoices get a landing page where they’re all listed. I could use it for my own business easily. Sales tax and attachments are supported, and you can preview invoices before you email them. Consequently, you have to type in a description the first time you invoice for a new item or service. While you can create contact records containing basic but sufficient details, you can’t build records for products and services. TrulySmall Accounting has fewer fields than other competitors, but that’s intentional. You select data from drop-down lists for fields like Client, Description, Category, and Price. (Credit: TrulySmall/PCMag) Simple Invoice CreationĬreating invoices in all small business accounting apps is simple and similar. Account balances are there, too, as well as total due, current due, and past due for receivables and payables. It shows your total current income, expenses, and net income in both numbers and charts. Like the rest of the site, the dashboard is a simple, understandable page. Once you’ve done that, TrulySmall Accounting immediately starts giving you feedback on your dashboard. Your connected accounts are color-coded in the Inbox, so you know whether each connection is OK, delayed, or needs re-authentication. If you'd like, you can bypass the Inbox and send imported income and expenses directly to the Transactions page, where they are categorized and stored. Here, you can edit them, assign correct categories if TrulySmall Accounting didn’t guess them right, and post them (send them to the Transactions page). Your imported transactions go into a table in your Inbox by default. Transactions are automatically imported from your financial accounts beginning with a date you specify during setup. The setup process for your account mirrors that of competitors: enter data about your business, set up security, and provide usernames and passwords for your online bank accounts. The company also provides a demo account that you can use before entering your own live data. It has a lot of helpful introductory material. Users who are brand new to online accounting-or accounting, period-should visit TrulySmall's home page before starting. Getting Started With TrulySmall Accounting Each costs $8.99 per month or $79.99 per year. Both can sync with TrulySmall Accounting, and there’s a lot of feature duplication (though different user experiences) among the three. TrulySmall offers two other tools for microbusinesses: TrulySmall Invoices and TrulySmall Expenses. It’s built on a chart of accounts and handles debits and credits in the background. Like all of these other apps, TrulySmall Accounting supports true double-entry accounting. Patriot Software Accounting is only $20–$30 per month for much more functionality, but it's still pricey for microbusinesses. FreshBooks Lite, which costs $17 per month, does much more than TrulySmall Accounting, though it limits you to five clients. This brings its price up to $8 per month or $72 billed annually. Wave is free unless you want to scan and upload receipts. ![]()
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