Do More Than Just Send Invoices (Product Update)

Did you know that as a TrulySmall Invoices user, you’re already getting ahead of your small business accounting? While you’re sending invoices and collecting payments, you’re actually also tracking your business income. Although that information isn’t apparent within TS Invoices, we’re introducing a new way for you to use that data to grow your business.

You can now easily connect your TS Invoices account to TrulySmall Accounting and get access to all the smart features that it has to offer. If you’re on your way to your first tax season, this is the easiest (and most stress-free!) way to get your finances sorted and prepared.

What is Accounting and why does it matter?

Accounting is the handling and organization of your business’s finances internally and allows you to track your business’ assets, liabilities, and income. With this data, you can get a clear overview of your company’s health, projected growth, strengths and weaknesses and next steps. It’ll also help to produce all the crucial financial reports needed for filing taxes and applying for loans.

There are two major parts of your business that accounting highlights: income and expenses. Understanding and documenting your income and expenses will allow you to make changes to your business based on your current revenue.

Learn more: What is Accounting and Why Do Small Business Owners Need It

Using accounting data to grow your small business

Beyond just tracking your income and expenses and getting you ready to file taxes, accounting software provides you with useful business data that can help you make better business decisions and run your business more efficiently. Accounting software takes all of your financial data from the bank and translates it into easy-to-understand insights for your business. This data shows up in your visual dashboard in the form of graphs and charts as well as in the ‘Reports’ section through your Profit and Loss Statement (aka Income Statement), Balance Sheet, and more.

Learn more: Using Business Reports and Data to Grow Your Small Business

How TrulySmall Accounting helps

With TS Accounting set up, you’ll be able to

• see real time insights of your business’s financial health through the visual dashboard,
• automatically track and sync all invoice payments,
• have all your expenses imported and categorized,
• have up-to-date financial reports anywhere, anytime,
• pinpoint your most profitable product or service offering,
• track payment performance,
• and understand your cash flow.

Learn more about TS Accounting and see how it’ll benefit your business. 

How to connect TrulySmall Invoices and Accounting

If you’re already using TS Invoices, connecting to TS Accounting is simple.

1. Sign in to your TS Invoices account
2. Click ‘Accounting’ in the left-hand navigation
3. Create a TS Accounting account with the same email you use for TS Invoices
4. When asked if you want to import your TS Invoices data, click the green button that says ‘Connect to TrulySmall Invoices’

And voila! You’ll get to experience TS Accounting with demo data initially but once you remove the demo data, you’ll be able to see all of your invoices in the ‘Invoices’ section.