TrulySmall Accounting: Connecting Bank Accounts

Connecting your bank accounts to TrulySmall Accounting removes the risk of input errors and increases accuracy. By using standardized bank codes, you will categorize and properly account for your expenses and various types of income.

If you didn't connect your bank accounts with TrulySmall Accounting during business creation, or if you have additional accounts you need to connect, you can still link them at any time.

If no accounts have been connected, you will see a link to Connect Your Bank Now at the top of your Smart Inbox. Select it to launch a window that will walk you through the process.

If you have already connected bank accounts, from the Smart Inbox click on the dropdown arrow then click on the + Connect a bank account link.
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You can also connect banks from the Accounts screen. Click on the + icon above the accounts list and select the Add Account from Bank Feed option to access the connection screens.

Pro Tip: Before starting the Bank Feed Connection process, check your TrulySmall Accounting Opening Balance Date in Settings. If they are available from your bank, TrulySmall Accounting will import transactions back to this date.

Related Article: Settings

The Connect Your Bank Accounts window will list all financial institutions that are connected to your business, even if none of your accounts within that bank have been linked.

To add a new bank to your business, click on the + Add another bank account link below the list.
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In Canada and the US, TrulySmall Accounting uses Plaid to help you connect your financial accounts to their businesses. Once you agree to their user privacy policy, Plaid will get you going quickly.

Your bank will require you to verify your access by submitting your account credentials (Credentials are not stored or shared by Kashoo). Depending on the financial institution, you may be asked for secondary authentication.

Once the connection is made, you will choose the individual accounts you would like to connect and import. Click on the name field to change the display name if you like. If there are accounts that you would prefer not to link to your business, click on the Connect toggle to inactivate that connection. When you click on the Finish button, TrulySmall Accounting will import transactions as far back as your bank will provide, back to your business’ TrulySmall Accounting Transaction Start Date.

If your bank does not provide transactions that far back, you can still backfill older transactions by uploading transaction files from your bank.

Related Article: Transactions

If you have a previously connected bank but an account in that bank is not yet linked to your business, click on the Connect a bank account link to see the bank list, then expand the relevant bank to see the list of accounts you have. Any account that is not currently linked will have the toggle in the off position. Click on the toggle to select it for inclusion, then click on the Finish button to begin importing those transactions.

When your transactions have been imported from your bank accounts, they will appear on your Transactions page automatically categorized and posted.

However, if you have disabled the Auto-post feature in your settings, imported transactions will appear on your Inbox page ready for you to review and post them.

Related Article: The Smart Inbox

If TrulySmall Accounting cannot connect to your bank account, you will see a message above the bank accounts pane along with a red or grey symbol next to each account name that has a problem connecting. There could be several reasons such as outdated banking credentials or the institution requires you to re-authenticate periodically.

Click on the message link to correct the issue. The Plaid window will launch and walk you through reconnecting your bank account to TrulySmall Accounting.

Once successful, the icon will return to green and your account balance and transactions will be up-to-date.

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