Smart Accounting for Small Business
Track your finances with confidence. Comprehensive accounting tools designed for entrepreneurs who want to focus on growing their business.
Current Accounting Features
Available
Chart of Accounts
Comprehensive account management with default account structure
Available
Transaction Management
Record and categorize all business transactions
Available
Financial Summary
Real-time overview of assets, liabilities, income, and expenses
Available
Account Types
Support for assets, liabilities, equity, revenue, and expense accounts
Available
Transaction Status
Track posted, draft, and reconciled transactions
Understanding Account Types
Assets
What your business owns
Examples:
- Bank Account
- Accounts Receivable
- Equipment
- Inventory
Liabilities
What your business owes
Examples:
- Accounts Payable
- Loans
- Credit Cards
- Accrued Expenses
Equity
Owner's stake in the business
Examples:
- Owner's Equity
- Retained Earnings
- Capital Contributions
Revenue
Income from business operations
Examples:
- Sales Revenue
- Service Income
- Interest Income
Expenses
Costs of running the business
Examples:
- Office Supplies
- Rent
- Utilities
- Marketing
Accounting Workflow
Step 1
Set Up Accounts
Create or use default chart of accounts structure
Step 2
Record Transactions
Manually enter or import business transactions
COMING SOON: Bank integration for automatic import
Partial Support
Step 3
Categorize & Reconcile
Match transactions with bank statements
COMING SOON: Reconciliation tools needed
Step 4
Generate Reports
Create financial statements and tax reports
COMING SOON: Report generation system needed