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TrulySmall Accounting

Automate bookkeeping, invoicing, expense tracking, and financial reporting for small businesses.

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  • Overview
  • Features
  • Pricing
  • Pros
  • Cons
  • Reviews

TrulySmall Accounting Overview

  • Updated December 18, 2025

TrulySmall Accounting is a cloud-based software designed for small businesses, offering tools to streamline financial tasks. It automates bookkeeping, tracks expenses, manages invoices, and generates real-time financial reports.

With features like bank reconciliation, tax compliance, and customizable invoicing, it simplifies accounting processes. Its user-friendly interface and affordable pricing make it ideal for entrepreneurs and small teams looking to manage finances efficiently without needing extensive accounting expertise.

Key Features

  • Automated Bookkeeping: Connect to bank accounts to categorize and post transactions automatically, reducing manual entry.
  • Customizable Invoicing: Offer templates in PDF, Word, and Excel to create and send professional invoices quickly.
  • Expense Tracking: Use OCR to scan receipts, categorize expenses, and link them to invoices for chargebacks.
  • Financial Reporting: Generate real-time reports like profit and loss, tax summaries, and balance sheets in minutes.
  • Multi-Currency Support: Handle transactions and invoices in multiple currencies, ideal for international clients.
  • Payment Tracking: Monitor invoice statuses, send automated payment reminders, and reconcile payments.
  • Budgeting Tools: Allow creation of custom budgets to track and analyze spending trends.
  • Mobile App Access: Support invoicing and financial tracking on iOS and Android devices.
  • Bank Reconciliation: Match transactions with bank records to ensure accurate bookkeeping.
  • Tax Compliance Support: Simplify tax preparation with organized data and tax-specific reports.

Price

Plan / Edition Price / Fee What’s Included / Notes
Base plan (monthly billing) $20.00 / month Full accounting features: invoicing, expense tracking, income/expense ledger, double-entry bookkeeping, sales-tax tracking, reporting.
Base plan (annual billing) $216.00 / year (equivalent to $18/month) Same full feature set as monthly plan; advertised savings vs monthly.
Invoice-only plan (for simple invoicing) $8.99 / month Basic invoicing: send invoices/estimates, accept payments, basic invoice management.
Expense-only plan (expense tracking) US $8.99 / month Track expenses, import receipts, separate personal/business funds, basic expense-tracking tools.
Free trial 14-day free trial (for Expense and Accounting plans) Allows testing full features before committing.

Pros

Competitor Pros of TrulySmall Accounting
QuickBooks Online TrulySmall Accounting offers a simpler, more affordable solution for microbusinesses at $20/month or $216/year, compared to QuickBooks Online’s higher-tier plans starting at $30/month. Its minimalist interface is easier to navigate for users with no accounting background, and it provides core features like automated bookkeeping, OCR receipt matching, and multi-currency support, making it ideal for freelancers and small teams who don’t need QuickBooks’ advanced inventory or payroll tools.
FreshBooks TrulySmall Accounting is more cost-effective at $20/month or $216/year compared to FreshBooks’ Lite plan at $17/month, which limits users to five clients. TrulySmall’s unlimited invoicing and client support, along with its mobile app for iOS and Android, provide flexibility for freelancers. Its real-time financial reports and OCR receipt scanning match FreshBooks’ capabilities but cater better to users seeking a straightforward accounting tool without project management features.
Wave TrulySmall Accounting provides a paid solution with robust features like multi-currency support and real-time reporting, which Wave’s free plan lacks. At $20/month, TrulySmall offers better automation for expense categorization and bank reconciliation, making it more reliable for small businesses needing accurate bookkeeping. Its mobile app enhances usability over Wave’s limited mobile functionality, appealing to users who prioritize on-the-go access.
Xero TrulySmall Accounting is more affordable at $20/month compared to Xero’s Early plan, which caps invoices at 20 and bills at five monthly. TrulySmall’s unlimited invoicing and simpler setup process suit freelancers and small businesses with basic needs. Its machine-learning-driven expense categorization and OCR receipt matching provide efficient automation without Xero’s complexity, making it a better fit for users who don’t manage multiple businesses.
Zoho Books TrulySmall Accounting is priced competitively at $20/month or $216/year, while Zoho Books’ free plan is limited to businesses with under $50K revenue. TrulySmall’s intuitive interface and mobile app make it more accessible for users with limited accounting knowledge. Its focus on core accounting tasks like invoicing, expense tracking, and real-time reporting suits small teams better than Zoho’s broader suite, which includes CRM integration.

Cons

Competitor Cons of TrulySmall Accounting
QuickBooks Online TrulySmall Accounting lacks advanced features like inventory management, payroll, and extensive integrations that QuickBooks Online offers, making it less suitable for growing businesses or large teams. Its $20/month price is high for its limited functionality compared to QuickBooks’ robust tools at $30/month. TrulySmall also doesn’t support saving invoices as PDFs or creating estimates, which QuickBooks handles seamlessly.
FreshBooks TrulySmall Accounting falls short of FreshBooks’ advanced features like project management, mileage tracking, and retainer billing, which are valuable for service-based businesses. Its $20/month cost is less competitive given FreshBooks’ Lite plan at $17/month offers more functionality for small teams. TrulySmall’s limited integration options and lack of client portals reduce its appeal compared to FreshBooks’ comprehensive client management tools.
Wave TrulySmall Accounting’s $20/month cost is a drawback compared to Wave’s free plan, which supports unlimited invoicing and basic accounting for microbusinesses. TrulySmall struggles with handling multiple transactions simultaneously and has limited data import options, making it less efficient for high-transaction businesses like e-commerce. Wave’s free receipt scanning add-on at $8/month undercuts TrulySmall’s paid model.
Xero TrulySmall Accounting lacks Xero’s extensive app ecosystem and unlimited user support, which are critical for middle-sized teams managing multiple businesses. Its inability to handle complex workflows or simultaneous transaction processing makes it less versatile than Xero’s scalable plans. TrulySmall’s $20/month price feels steep for its basic feature set compared to Xero’s more comprehensive functionality at similar or lower costs.
Zoho Books TrulySmall Accounting doesn’t match Zoho Books’ feature depth, including CRM integration, document management, and collaboration tools, which benefit growing businesses. Its $20/month price is less appealing compared to Zoho’s free plan for businesses under $50K revenue. TrulySmall’s limited help articles and manual GST filing processes are less robust than Zoho’s automated compliance features, making it less suitable for complex accounting needs.

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