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TrulySmall Accounting: Kashoo Classic Users
TrulySmall Accounting: Kashoo Classic Users

Frequently asked questions on TrulySmall Accounting

Pooja Rangaraju avatar
Written by Pooja Rangaraju
Updated over a week ago

What Is Different About TrulySmall Accounting?

TrulySmall Accounting is designed around a Smart Inbox, where it presents your bank transactions pre-reconciled between accounts, pre-categorized, and ready for inclusion in your General Ledger.

We have eliminated time-consuming data entry and the bookkeeping activities of the past. You’ll also see new reports, dashboards, and easier ways to edit and view your information. 

Will I Pay Anything More?

Each business requires its own subscription plan. If you are already subscribed to a Kashoo monthly or annual plan, you can cancel that subscription and purchase a new plan on TrulySmall Accounting. However, we recommend fully setting up your business in TrulySmall Accounting before cancelling your Kashoo plan as you will no longer have access to it.

Will I be required to switch to TrulySmall Accounting?

There are no plans to discontinue our Kashoo Classic application. Businesses will be able to continue using Kashoo Classic as long as they are running their business.

We will continue to upgrade Kashoo Classic as needed.

Are all features I use now supported in TrulySmall Accounting?

At this time the following features are not available in TrulySmall Accounting. If you rely on any of these features, stay tuned for updates. 

  • Items/Inventory

  • Projects

  • Square and Payment Evolution Integrations

Can I switch back to Kashoo Classic if I change my mind?

The data in a cancelled Kashoo Classic business cannot be restored after 90 days. However, you can flip between an active Kashoo Classic business and an active TrulySmall Accounting business from the Business Selection Menus.

Can I test TrulySmall Accounting before deciding what to do?

Yes! Simply click on the "Add TSB Accounting Business" from the Kashoo Business Selection Menu and create a new business.  

Important! When creating a new Business choose a Transaction Start Date that reflects how far back in time you would like to populate TrulySmall Accounting with data. We recommend starting at the beginning of your current fiscal year.

Can I move my existing Kashoo Classic data to TrulySmall Accounting?

Due to the design changes between the two versions, data cannot be automatically migrated from Kashoo Classic to TrulySmall Accounting.

The recommended process to migrate any historical data is as follows:

  1. Create TrulySmall Accounting Business

  2. Connect Bank Feeds in TrulySmall Accounting.

  3. Adjust COA as needed (or keep the recommended COA provided)

  4. Clear Bank Transactions 

  5. Backfill missing transaction data with Bank Transaction file uploads

In TrulySmall Accounting, you are able to import and clear a year of transaction data in less than 30 minutes. Our auto-categorization and ability to process transactions in bulk makes this the quickest path to import historical data.  

Your contacts are automatically created during the process of clearing transactions as well.

How do I set up my Chart of Accounts?

TrulySmall Accounting creates a chart of accounts for you, with all expense accounts optimized for tax reporting to the CRA and IRS. 

One of the largest areas of mistakes in accounting and financial reporting, is the creation of a custom COAs that do not adhere to tax reporting standards. We highly recommend businesses use the default COA in TrulySmall Accounting if possible.

However, you can add additional accounts to the default COA in the Account Section.

Do I have to connect my bank feed?

TrulySmall Accounting will still accept manual entry of transactions, or transaction file uploads. But, in order to get all the benefits from TrulySmall Accounting and tap into our machine learning and categorization, you will have to connect your bank feed! 

If my bank does not work with Kashoo, how can I import my transactions?

You will be able to upload bank transaction files into TrulySmall Accounting. We accept QFX, OFX, or QBO files. Please select one of these options from the export/download section in your online banking portal.

Is there the ability to mass update transactions?

Yes! You can bulk categorize transactions by selecting multiple transactions in your Smart Inbox and posting them all at once. 

Related Article: The Smart Inbox

How do I remove transactions from TrulySmall Accounting? 

Transactions that come into TrulySmall Accounting from a connected bank feed cannot be removed. They are required to accurately reconcile the amounts in your bank account to the cleared transactions in TrulySmall Accounting. 

However, you can mark a specific transaction as personal if it does not apply to your business, and it will not be incorporated in your Dashboard or Reports.

Can I set user roles?

We currently have two user roles which are Admin (for Bookkeepers & CPAs) and Business Owner.

Can I import my data from Quickbooks or other programs?

If you are trying to bring in historical transactions from another online accounting system, we recommend simply connecting your bank accounts to TrulySmall Accounting. We will retrieve all the transactions for you into the TrulySmall Accounting Chart of Accounts that are optimized for tax reporting to the CRA and IRS. 

Going through even one year of transactional data is fast and easy, and much more streamlined and accurate than importing from other systems.

Will TrulySmall Accounting support integrations?

TrulySmall Accounting does not support any integrations at this time. New integrations will be announced as they are released.

Can I add additional businesses?

Yes absolutely! Each additional business requires its own subscription. If you have more than 5 business you’d like to add please contact us by phone, email, or live chat to get a package quote. 

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