trulysmall Review: Pros, Cons, Features, and Pricing

Q: How secure is my financial data with trulysmall?

trulysmall takes data security seriously by implementing industry-standard encryption and secure data storage practices. All your financial data is protected with regular backups and stringent access controls, while compliance with relevant data protection regulations ensures your information remains confidential and secure. You can trust trulysmall to keep your sensitive financial data safe.

Q: Does trulysmall support multi-currency transactions?

The software offers a multi-currency feature that uses real-time exchange rates to convert transactions into the currency of your choice from over 160 options. You can enter exchange rates manually or reduce manual input by using the software provided to calculate them automatically. However, if your business handles more complex multi-currency transactions, it's a good idea to verify that the system fully supports them.

Q: Can trulysmall handle payroll processing?

trulysmall focuses on basic accounting tasks, like invoicing and expense tracking. It doesn't include built-in payroll processing, so if you need payroll management, you might have to use additional software or services to complement trulysmall.

Q: Is trulysmall suitable for tax compliance?

trulysmall offers basic tax management tools to help you stay compliant. It simplifies tax calculations and provides functions that efficiently track tax obligations. However, it might not cover all complex tax scenarios, especially for larger businesses, so be sure to review its tax management capabilities to see if they align with your specific compliance needs.

Q: How does trulysmall handle user permissions?

The software allows you to set user permissions to control access to financial data. You can assign roles and manage who can view or edit specific information to ensure your team members have access to the tools they need, while keeping sensitive data secure. This helps maintain a balance between accessibility and security within your organization.

Q: Can trulysmall generate detailed financial reports?

trulysmall provides straightforward financial reporting tools, and you can generate standard bookkeeping reports to get a clear view of your business's financial health. While it meets essential reporting needs, it might not offer highly detailed or customized reports that larger businesses require. For more complex reporting, additional tools may be necessary.

Q: What type of support does trulysmall offer?

trulysmall provides customer support via email and chat. Further guidance is available through tutorials, how-to guides, and FAQs; however, more detailed assistance would enhance the user experience. If you need help, reaching out to their support team is your best option.

Q: How easy is it to switch to trulysmall from another accounting software?

Switching to trulysmall is generally straightforward, thanks to its user-friendly design and simple onboarding process. However, you might need some time to manually transfer data from your previous software, as trulysmall doesn't offer dedicated migration services. Planning and preparing your data beforehand will make the switch smoother.

TrulySmall is an accounting software built for freelancers, solopreneurs, and very small businesses that need basic bookkeeping without the overhead of a full-featured platform. It covers invoicing, expense tracking, and simple reporting in a stripped-down interface. I'd consider it if your books are straightforward and QuickBooks feels like more tool than you actually need—TrulySmall is designed to remove complexity rather than add to it, which makes it a better fit when your priority is speed and simplicity over depth.

TrulySmall Evaluation Summary

Automates small business bookkeeping and financial reporting tasks.

Customer Rating

4 /5

Pricing

From $89.99/year
14-day free trial

Why Trust Our Software Reviews

TrulySmall Overview

In my opinion, trulysmall is a solid choice for small businesses or freelancers looking for easy-to-use accounting software. Its standout feature is its simplicity, making it accessible to users who don't have a deep accounting background. And while it lacks some advanced functionalities found in more complex software, it compensates with its intuitive interface and affordability. trulysmall is best suited for those who require simple accounting processes, including invoice creation, expense management, credit card payment processing, and basic sales tax handling.

pros

You can quickly learn the software due to its user-friendly interface.
It simplifies invoice management and expense tracking for your team.
Financial reports are easy to generate.

cons

A lack of third-party integrations may affect practicality and workflow.
Some advanced options offered by competitors aren't available.
Customer support may not always be as responsive as you'd like.

Is TrulySmall Right For Your Needs?

Who Would be a Good Fit for TrulySmall?

trulysmall is a great fit for freelancers, startups, and truly small businesses that need straightforward accounting without the fuss. If you're a solo entrepreneur or have a small creative industry team that doesn't require complex accounting capabilities, you'll appreciate its simplicity in invoicing, expense tracking, and streamlined reporting, which makes it easy to keep track of finances without getting bogged down in details.

Freelancers

You'll find trulysmall perfect for invoicing clients and managing your expenses with ease.
Startups

trulysmall helps your team focus on growth by simplifying financial management tasks.
Creative Agencies

Your agency can benefit from quick invoicing and straightforward financial reports, without complex setups.
Consultants

trulysmall makes it easy for you to track billable hours and generate invoices efficiently.
Small Retailers

You'll appreciate trulysmall's ability to simply and effectively handle sales and expenses data.
Nonprofits

trulysmall provides your organization with easy-to-use financial tracking and reporting tools.

Who Would be a Bad Fit for TrulySmall?

trulysmall may not be ideal for large enterprises or businesses requiring advanced accounting functions. If your team relies on complex financial analytics, detailed inventory management, extensive integrations, or heavy customization, you may find trulysmall lacks some of the features you need.

Large Enterprises

Your team will miss the advanced functionalities needed to handle complex financial operations.
Manufacturing Companies

You'll find trulysmall insufficient for managing detailed inventory and supply chain processes.
Financial Services

trulysmall lacks the sophisticated analytics and reporting that your industry demands.
Corporate Accounting Departments

Your department will likely need more advanced capabilities and integrations than trulysmall offers.
Publicly Traded Companies

You'll require more comprehensive reporting and compliance features than trulysmall can provide.

How We Test & Score Tools

We’ve spent years building, refining, and improving our software testing and scoring system. The rubric is designed to capture the nuances of software selection and what makes a tool effective, focusing on critical aspects of the decision-making process.

Below, you can see exactly how our testing and scoring works across seven criteria. It allows us to provide an unbiased evaluation of the software based on core functionality, standout features, ease of use, onboarding, customer support, integrations, customer reviews, and value for money.

Core Functionality (25% of final scoring)

The starting point of our evaluation is always the core functionality of the tool. Does it have the basic features and functions that a user would expect to see? Are any of those core features locked to higher-tiered pricing plans? At its core, we expect a tool to stand up against the baseline capabilities of its competitors.

Standout Features (25% of final scoring)

Next, we evaluate uncommon standout features that go above and beyond the core functionality typically found in tools of its kind. A high score reflects specialized or unique features that make the product faster, more efficient, or offer additional value to the user.

We also evaluate how easy it is to integrate with other tools typically found in the tech stack to expand the functionality and utility of the software. Tools offering plentiful native integrations, 3rd party connections, and API access to build custom integrations score best.

Ease of Use (10% of final scoring)

We consider how quick and easy it is to execute the tasks defined in the core functionality using the tool. High scoring software is well designed, intuitive to use, offers mobile apps, provides templates, and makes relatively complex tasks seem simple.

Onboarding (10% of final scoring)

We know how important rapid team adoption is for a new platform, so we evaluate how easy it is to learn and use a tool with minimal training. We evaluate how quickly a team member can get set up and start using the tool with no experience. High scoring solutions indicate little or no support is required.

Customer Support (10% of final scoring)

We review how quick and easy it is to get unstuck and find help by phone, live chat, or knowledge base. Tools and companies that provide real-time support score best, while chatbots score worst.

Customer Reviews (10% of final scoring)

Beyond our own testing and evaluation, we consider the net promoter score from current and past customers. We review their likelihood, given the option, to choose the tool again for the core functionality. A high scoring software reflects a high net promoter score from current or past customers.

Value for Money (10% of final scoring)

Lastly, in consideration of all the other criteria, we review the average price of entry level plans against the core features and consider the value of the other evaluation criteria. Software that delivers more, for less, will score higher.

Core Features

Invoicing

Easily create and send professional invoices to save time on billing. Enjoy simple yet professional, customizable templates that you can tailor to your brand.

Expense Tracking

Track your expenses effortlessly with trulysmall's intuitive interface. You'll find it easy to categorize and manage your expenses, ensuring your finances are in check.

Financial Reporting

Generate straightforward financial reports that give you a clear view of your business's health and provide essential insights into your financial performance.

Bank Reconciliation

Match the transactions from your bank account with your business's accounting records using bank feeds, transaction files, or receipts to spot any cash flow discrepancies and keep your accounts balanced.

Tax Management

Stay on top of your tax obligations with trulysmall's tax management tools, which simplify tax calculations and help you prepare for tax season without stress.

Mobile App

Navigate your accounting tasks with the easy-to-use dashboard and practical companion mobile app, which provide quick access to vital information and help you manage your finances efficiently.

screenshot - trulysmall Review: Pros, Cons, Features, and Pricing — Create and send branded invoices quickly and easily.

Standout Features

Simple User Interface

trulysmall's interface is designed for ease of use, making it accessible even if you're not tech-savvy. It reduces the learning curve so you can get started quickly.

Quick Setup

Streamline your accounting system and get it up and running in no time with trulysmall's fast and easy setup process. You'll spend less time getting started and more time focusing on your business.

Ease of Use

trulysmall stands out for its straightforward design, making it easy for your team to navigate and use daily. The intuitive dashboard, simple setup process, and quick access to essential tools, such as invoicing and expense tracking, mean you won't waste time learning complex functions.

Onboarding

While the onboarding process for trulysmall is straightforward, it can take a bit of time to get up to speed and understand all of its capabilities. trulysmall provides basic resources to guide you, but more detailed guidance would help you achieve quicker time to value.

Customer Support

trulysmall's customer support can be accessed via email and chat, but real-time assistance availability varies. If you encounter issues, you might find the support adequate but not exceptional, leaving room for improvement in user assistance.

Integrations

trulysmall appears to have no integration with other popular accounting tools or third-party applications based on available information. trulysmall does not currently offer an API or connect with third-party integration tools.

Value for Money

trulysmall offers good value for money with its straightforward, competitive pricing plans, which are accessible for those seeking basic accounting functionalities without breaking the bank. The Expenses and Accounting plans also offer a 14-day free trial, so you can try it out and ensure it's the right fit for your needs.

trulysmall Invoices: $89.99/year; organize and send invoices and estimates.
trulysmall Expenses: $89.99/year; automate expense recordings, import receipts, and track budget and spending.
trulysmall Accounting: $216/year; automate accounting processes, send invoices, track income and expenses, track sales tax, and generate essential reporting.

TrulySmall Specs

2-Factor Authentication
Accounts Payable
Accounts Receivable
API
Balance Sheet
Billing/Invoicing
BitCoin
Budgeting
Calendar Management
Contact Management
CRM Integration
Customer Management
Dashboard
Data Export
Data Import
Data Visualization
Expense Tracking
External Integrations
Forecasting
General Account Ledger
Inventory Tracking
Multi-Currency
Multi-User
Notifications
P&L
PayPal
Payroll
SAP Integration
Stripe
Supplier Management
Tax Management

TrulySmall FAQs

How secure is my financial data with trulysmall?

Does trulysmall support multi-currency transactions?

Can trulysmall handle payroll processing?

Is trulysmall suitable for tax compliance?

How does trulysmall handle user permissions?

Can trulysmall generate detailed financial reports?

What type of support does trulysmall offer?

How easy is it to switch to trulysmall from another accounting software?

TrulySmall Company Overview & History

Made by the group at Kashoo, trulysmall is a set of financing tools built for trulysmall businesses that need trulysmall accounting solutions without complexities and fuss. The team spent over a decade helping small businesses grow before creating trulysmall as a dedicated product line.

The trulysmall group describe themselves as a small team of entrepreneurs, doers, and helpers who’ve started, grown, and sold 12 small businesses. They understand the struggles and the feeling of putting heart and soul into a business, and they're committed to helping small businesses thrive. trulysmall doesn’t publish details such as their headquarters location, employee count, valuation, revenue, or funding, so there’s no verified public information of that kind to share.

trulysmall Major Milestones

2021: trulysmall is introduced as a product line “made by the folks at Kashoo.”
2024: trulysmall is acquired by DataTax.