🎉 We're excited to announce that Pry has raised a $4.2m seed round! Read The Announcement

Bookkeeping / Overview

Overview

Pry has everything you need to do your bookkeeping in cash basis and prepare for tax filing. Cash basis is simpler and easier for founders to manage. It recognizes the transactions as they occur.

Common Terms

Accounts

  • Financial Accounts are accounts where transactions occur, such as bank accounts and credit cards.
  • Category Accounts are accounts in which transactions are categorized in, such as Advertising, Meals & Entertainment, Travel, etc.
  • Chart of Accounts organizes the categories and consists of 5 major categories: income, expenses, assets, liabilities, and equity.

Transactions

  • Bank transaction is a record of money that has moved in and out of your bank account.
  • Journal entry is used to record a business transaction in two places as a credit and a debit, also known as double entry accounting.

Budget

  • Simple budgets are best for forecasting one time expenses, investments, or recurring expenses with fixed amounts. For more info, check out our Simple Budgeting doc.
  • Budgets created from a model are based on drivers and formulas. To learn more about modeling variable expenses, check out our Financial Modeling doc.

Financial Reports

  • Financial reports feature allows you to customize reports and export them to Google sheets.
  • Financial Report discloses a company's financial details and business activities over time.
  • Profit & Loss(aka income statement) shows the company's revenues and expenses during a particular period.
  • Balance Sheet provides a snapshot of the company’s assets, liabilities, and equity as of a certain date.