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TrulySmall Accounting: Quick Start Guide
TrulySmall Accounting: Quick Start Guide

Stop thinking about accounting, and get started running your business. Let us do the heavy lifting for you.

Kashoo avatar
Written by Kashoo
Updated over 8 months ago

Home > Start Up Guide

What is Different About TrulySmall Accounting?

TrulySmall Accounting is simply revolutionary, and it's about time. With current technology and secure transfer of financial data, we are able to move away from the cumbersome work flow of accountants and design an accounting system tuned to the needs of business owners.

TrulySmall Accounting takes care of the accounting complexities for you, by eliminating time-consuming data entry and bookkeeping activities of the past. Follow our recommended time-saving methods and enjoy the confidence of having accurate financials.

Getting started with TrulySmall Accounting is simple. You can be up and running in minutes without needing all your business data at your fingertips before getting started. You can use TrulySmall Accounting immediately, and fill in any historical or missing data when you are ready.
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Step 1: Create a User Account 

Create your TrulySmall Accounting login "Email" and "Password" to get started. If you already have a user account for an existing business, click on the Log in here link at the bottom of the page.

Step 2: Input Business Data

Besides your name, address, and phone, we'd like to know about your business.

Choose a "Transaction Start Date" that reflects how much data you would like to pull into TrulySmall Accounting. If you are thinking of bringing in historical data, be sure to choose a date that reflects that. Otherwise, we suggest using the start of most recent fiscal year.

It is important to choose your business "Industry", because TrulySmall Accounting creates a Chart of Accounts specific to your industry based on this information. Our Chart of Accounts is optimized for automatic tax calculation and reporting to the CRA and IRS.

Step 3: Connect your Bank Accounts

The most important step is to connect your business bank accounts. This is where the magic of TrulySmall Accounting happens. When your bank feeds us your transaction data, we have the most accurate records, and can calculate tax, categorize records, and reconcile accounts automatically. This is the best way to minimize effort, and reduce errors in your business accounting.

Step 4: Start Using TrulySmall Accounting!

Now that your business has been created, you will enter the Transactions page where our smart technology has automatically categorized, reconciled and posted your bank feed transactions for you. Simply review the records for completeness and you're done.

If you don’t like how we categorized an entry? No problem! To edit any of your auto-categorized transactions, just edit the entry and we will learn and apply that same logic to future transactions. Over time, your need to review will be reduced, as TrulySmall Accounting's machine learning and user-defined rules will automatically categorize and post incoming records to your preference. Each time you use TrulySmall Accounting, you train TrulySmall Accounting to handle your transactions in the manner you want for your business.

Additional tools are provided for the quick and efficient review of your business information. Throughout the application, you can collapse the menu for more room to view your data. You may sort, filter or search to locate records, then use bulk editing and posting to quickly update your transactions.

What's Next?

Any transactions we could not categorize and post automatically will be displayed on the Inbox page for you to review. Once there are no more records in your Inbox, it's time to navigate to the other areas of TrulySmall Accounting to view your dashboard, create invoices, upload receipts, run reports, and handle many more functions integral to your business. See our simplified menu for your next steps.

Settings:

  1. Update Business Contact information.

  2. Manage additional User Accounts. You can have an unlimited number of users within one TrulySmall Accounting Business Account.

  3. Manage your TrulySmall Accounting Subscription and Billing.
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Inbox: 

  1. Review and categorize all new transactions coming into your account. The yellow badge displays how many items are ready for review. If there are 100 or more you will see an exclamation mark.

  2. Upload receipts, transaction files from your bank.

  3. View your account's connection status, or connect additional bank accounts.

Dashboard: 

  1. See business health graphs and charts.

  2. Review key financial figures such as sales income and expenses to date.

Transactions:

  1. View all posted transactions.

  2. Add individual records for income, expenses, transfers, income refunds and expense refunds.

Invoices:

  1. Create and manage client invoices.

  2. Accept payments.

Bills to Pay:

  1. Create, manage, and pay your bills.

Contacts:

  1. Create and manage business and individual contacts.

  2. View all transactions related to a specific contact.

  3. Create groups of contacts for reporting is coming soon.

Accounts:

  1. Manage your Chart of Accounts.

  2. Reconcile bank and credit accounts.

  3. Add adjustments.

  4. Edit opening balances.

Taxes:

  1. Canadian taxes are pre-configured for each business.

  2. Creation and management of US sales tax coming soon.

Reports:

  1. View Profit and Loss, Balance Sheet, Sales Tax, General Ledger, and Unpaid Bills & Invoices reports.

  2. Create and save customized reports.

The TrulySmall Accounting Mobile App

Download the TrulySmall Accounting mobile app today from the iOS App Store and Google Play Store and you'll have TrulySmall Accounting in your pocket whenever you need it.

Related article: Welcome to TrulySmall Accounting TSB On-the-Go!

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Start Up Guide      Smart Inbox       Importing Data        Accounts        Dashboard
​Transactions      Contacts        Invoices    Bills to Pay Reports       Settings      Taxes 

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