Frequently Asked Questions

Tally Assistant is an AI-powered bookkeeping tool for freelancers. It automatically parses bank CSVs from any bank or payment platform, scans payment screenshots using AI vision, converts between 30+ currencies at daily exchange rates, generates professional invoices with PayPal payment links, and sends automated payment reminders. Setup takes under 2 minutes. No accounting knowledge required. Tally Assistant is an independent product — not affiliated with Tally Solutions Pvt Ltd (maker of TallyPrime).

Independent freelancers and solopreneurs who receive payments via PayPal, Stripe, Wise, bank transfer, or platforms like Upwork and Fiverr. Best for service-based professionals (designers, developers, writers, consultants, coaches, photographers) who want to minimize time spent on bookkeeping. Not ideal for businesses needing payroll, inventory management, or multi-user accounting access.

It eliminates five major pain points: (1) manual data entry from bank CSVs of varying formats, (2) lost or disorganized receipt photos and payment screenshots, (3) multi-currency conversion confusion when working with international clients, (4) the awkwardness and time cost of chasing late invoice payments, and (5) the lack of professional invoices with easy payment options for clients.

No. Tally Assistant is designed for freelancers who want to spend zero time learning accounting. The AI handles categorization, currency conversion, and invoice formatting automatically. If you can take a screenshot and type a sentence, you can use Tally Assistant.

Excel requires you to manually format every CSV, calculate every currency conversion, track every invoice status, and remember to follow up on late payments. Tally Assistant automates all of that with AI. For 5 transactions a month, Excel is fine. For 50+, the time savings are dramatic.

Many businesses use separate applications for invoicing, receipt scanning, bookkeeping, time tracking, and reporting. Tally Assistant brings these workflows together so financial information stays connected instead of being scattered across different tools.

Absolutely. AI-generated information can always be reviewed and edited before being saved.

Tally Assistant is designed for business bookkeeping — tracking freelance income, business expenses, and client invoicing. For personal finances, we recommend dedicated personal finance tools. Keeping them separate also makes tax preparation much easier.

Double-entry bookkeeping records every transaction in at least two accounts — a debit in one and a credit in another — so the accounting equation (assets = liabilities + equity) always balances. It is the standard for incorporated businesses, but most solo freelancers use simpler single-entry cash-basis records. Double-entry becomes useful when you incorporate, hold inventory, or need GAAP-compliant statements. Tally Assistant is built for freelancer-friendly single-entry tracking; your accountant can convert the export to double-entry if needed.

For every freelance payment, keep the invoice or contract, the bank or platform statement, and the payment confirmation. Record the date, client, gross amount, platform fee, and net amount received. Store the records by tax year and month, and keep them for 3–7 years depending on your country. Our free 1099 expense tracking guide includes a downloadable spreadsheet with income, expense, mileage, and tax-reserve tabs.

You can import CSV, Excel, and PDF bank statements. AI automatically detects columns and extracts transaction data whenever possible. Supported sources include Stripe CSVs, PayPal CSVs, Wise CSVs, Revolut CSVs, and 200+ bank formats worldwide — regardless of delimiter, date format, or decimal separator.

Yes. Bank statements in CSV, Excel, and PDF formats can be imported. AI helps interpret different layouts and organize transactions into your bookkeeping records.

Yes. The AI automatically assigns transaction categories (Infrastructure, Tools & Software, Food & Dining, Transportation, Office Expenses, Health, Utilities, Shopping, Travel, Entertainment, Project Income, Consulting Services, and Others) based on the merchant name, description, and amount patterns. Categories are fully customizable — you can override any AI-suggested category.

CSV files from any bank or payment platform (Stripe, PayPal, Wise, Revolut, and 200+ banks worldwide) regardless of delimiter, date format, or decimal separator. PNG, JPG, JPEG, and WebP images for screenshot recognition. PDF files for receipt and bank statement scanning. Maximum file size: 10 MB. Images are auto-compressed to 1600px before AI processing.

Yes. Export your data from any of these platforms as CSV and upload to Tally Assistant. The AI parses each platform's CSV format automatically. Your transactions, clients, and invoice history can all be migrated.

In online banking, open the account, choose Download Transactions or Statements & Documents, pick the date range, and export CSV/Excel for transactions or PDF for statements. In the Bank of America app, open the account, tap the transaction list or Statements & Documents, and download or share the file. Upload the file to Tally Assistant as-is — the AI detects the columns, date format, and currency without manual mapping.

Yes. Describe your invoice in natural language — for example: 'Invoice Acme Corp for 20 hours of design work at $80/hour.' Tally Assistant generates a draft invoice with line items, correct calculations, and your branding that you can review before sending. PayPal payment links are embedded automatically.

Yes. Invoices can include a PayPal payment button for online payments.

Yes. Automatic reminder emails can be scheduled, and reminder wording becomes progressively stronger as invoices remain unpaid. Friendly first, firm later — fully automated.

Tally Assistant calculates VAT, GST, and sales tax on invoices based on your configured rates. It also categorizes expenses for tax deduction tracking and provides CSV exports for your accountant.

Yes. Once you add your logo and business details in Settings, every AI-generated invoice automatically includes your branding. You can also customize payment terms, tax rates, and accepted payment methods.

Yes. Add your VAT/GST/HST ID and company registration number in Settings. They appear on every invoice automatically. Essential for B2B invoicing where tax IDs are required.

Yes. When you describe the invoice, mention '50% deposit, 50% on delivery' and the AI creates a deposit invoice with the remaining balance noted. You can also create separate deposit and balance invoices.

Yes. In one click, convert any quote into an invoice. All line items, amounts, and client details carry over automatically.

Yes. 'Brand strategy consulting $3,000 + 5 hours implementation at $150/hr' creates an invoice with both the fixed fee and the hourly charges as separate line items with correct calculations.

Add your PayPal email in Settings, then describe the work in one sentence. The AI builds the invoice with line items, tax, and a Pay with PayPal button, and sends it by email. When the client pays, confirm receipt in Tally Assistant with one click; the invoice is marked PAID and a linked income transaction is created. Automatic PayPal payment detection is on the roadmap.

Tally Assistant flags every invoice whose due date has passed and sends automated email reminders while it remains unpaid, with the tone escalating over time. It works from invoice due dates, not contract-level milestones. If a contract has 30/60/90-day milestones, create a separate invoice for each milestone with its own due date. Custom reminder cadences tied to contract terms are not currently supported.

Yes. Transactions, invoices, and reporting support 30+ currencies with daily auto-updated exchange rates via Frankfurter API. Each transaction, invoice, and time entry can use its own currency. All amounts are converted to your configured base currency for unified reporting.

Yes. Transactions, invoices, and reporting support 30+ currencies with daily auto-updated exchange rates. Invoices can include VAT, GST, or HST at your configured rate. CSV exports are organized for easy tax filing — IRS Schedule C friendly for US freelancers, self-assessment ready for UK, and compatible with tax accountants in Canada, Australia, Germany, and across the EU.

30+ currencies including USD, EUR, GBP, CNY, CAD, AUD, CHF, SEK, NOK, DKK, MXN, BRL, and more. Each invoice can use its own currency, and all amounts are converted to your configured base currency for unified reporting.

Tally Assistant supports 30+ fiat currencies with daily exchange rates. Cryptocurrency is not natively supported, but you can manually enter the fiat-equivalent amount at the time of the transaction. We recommend noting the crypto amount and TXID in the transaction notes.

Yes. Upload a receipt image and Tally Assistant extracts merchant name, amount, date, and other available information. The original image is saved as supporting documentation.

Yes. Receipt and payment screenshot recognition supports more than 50 languages.

AI OCR is highly accurate for clear, well-lit images with English text — typically 90%+ accuracy for extracting merchant names, amounts, dates, and currencies. Multi-language OCR supports 50+ languages with reduced accuracy. The app displays a prominent warning to verify all AI-recognized data before saving.

Downloadable templates require manually filling in receipt number, client name, amount, date, and payment method for every single payment. With Tally Assistant, all of that data already lives in your invoices. One click generates a complete receipt — no re-typing, no copy-pasting, no errors.

On iPhone, open the transaction in your banking app and press the side button plus volume up. On Android, press power plus volume down. On desktop, use your browser's screenshot tool or save the statement as PDF. Capture the date, amount, sender or merchant, account last four digits, and transaction reference. Redact unrelated balances before uploading.

Yes, as supporting documentation. The screenshot shows the amount, date, sender, and transaction reference, and Tally Assistant keeps the original image attached to the transaction. Pair it with the monthly bank statement or CSV export: the statement proves the money reached your account, while the screenshot explains what the payment was for.

All data is encrypted at rest (AES-256) and in transit (TLS 1.3). We never sell your financial data, never use your bank statements or receipts to train public AI models, and process all AI features via OpenAI API with training disabled and 30-day auto-deletion. Database is hosted on Supabase (AWS US West) with automated daily backups and row-level security.

Your financial data is encrypted at rest (AES-256) and in transit (TLS 1.3). We do NOT sell your data, do NOT use your bank statements or receipts to train public AI models, and all AI processing (CSV parsing, receipt OCR, invoice generation) goes through OpenAI API with training explicitly disabled and data auto-deleted after 30 days. Our database runs on Supabase (AWS US West) with automated daily backups. Authentication is handled by Clerk with industry-standard security practices.

Yes. Administrative actions such as create, update, and delete operations are recorded in an audit log.

After account deletion, we retain your data for 90 days, after which it is permanently deleted. Backup copies may persist for up to 30 additional days.

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Yes. The Free plan includes 100 transactions/month, up to 5 clients, basic invoicing, CSV import, and dashboard access. The Pro plan at $12/month unlocks unlimited transactions, unlimited clients, AI screenshot recognition, universal CSV/PDF import, auto payment reminders, multi-currency support, and AI Finance Assistant chat.

The launch period ended September 30, 2026, as announced. The Free plan stays free — 100 transactions/month and 5 clients, no credit card required. Pro is $12/month with a 14-day free trial. Users who signed up during launch keep grandfathered pricing.

We offer a 14-day money-back guarantee on all paid plans. Read our full refund policy at /terms#refund.

No. You can create a free account without a credit card. All features in the Free plan are available immediately without payment information.

Start with the Free plan if you have fewer than 5 clients and under 100 transactions per month — it covers all the basics. Upgrade to Pro ($12/month) if you need unlimited transactions, AI receipt scanning, auto payment reminders, multi-currency, or the AI Finance Assistant — Pro includes every feature we offer.

Yes. Track time in real time or enter it manually, then convert selected time entries into invoices. Set different billing rates per client or project type, and the AI applies the correct rate automatically.

Yes. You can export financial reports in Excel and PowerPoint formats. Transaction data, client lists, and invoice summaries can all be exported as CSV.

Yes. You can ask questions such as: 'How much profit did I make in May?' 'Which invoices are overdue?' 'How much did I spend on software?' 'Who is my highest-paying customer?' The AI assistant searches your own financial records to answer these questions.

Yes. Configure default hourly rates and override them per client or per project. The AI uses these rates when converting time entries to invoices.

Start a timer when you begin working, stop it when you're done. Or enter time manually after the fact. All time entries are linked to clients and can be converted to invoices with one click.

Yes. The AI assigns a category to every imported transaction based on the merchant name, description, amount, and your past corrections. You review the results and can override any category with one click. Unusual vendors and ambiguous charges still need a monthly review, but the routine categorization is automatic.

Partially. Tally Assistant can link expenses to clients and projects and categorize them, so you can report rebillable costs per client. Contract-level rules with exceptions — for example, a travel cap or a specific approval clause — are not fully automated. Use the notes and category fields to mark exceptions, and review the client report before invoicing.

Tally Assistant's free self-employment tax calculator estimates SE tax, federal income tax, and quarterly payments without a sign-up. The IRS Form 1040-ES worksheet is the official manual method, and your state tax department publishes its own estimated-payment worksheets. Use the calculator for a quick planning number and the official worksheet before filing.

If you're a solo freelancer or independent contractor, yes — Tally Assistant handles all your bookkeeping needs (transactions, invoicing, expense tracking, multi-currency) with less setup and more AI automation. If you have employees, need payroll, or require full double-entry accounting with balance sheets, QuickBooks is the better fit.

If you're a solo freelancer, yes. Tally Assistant handles all your core needs (transactions, invoicing, expense tracking, multi-currency) with more AI automation and less setup. If you have employees, need payroll, or your accountant requires formal double-entry books, Xero is the better fit.

For freelancers sending straightforward invoices, Tally Assistant is faster because AI generates the invoice from your description. FreshBooks offers more template customization and a better client-facing portal. Choose Tally Assistant for speed and AI automation; choose FreshBooks if you need highly customized invoice designs or a client portal.

Wave is free but requires significant manual work — manually categorizing transactions, building invoices line-by-line, and sending payment reminders yourself. If you process 10+ transactions a month, the time savings from Tally Assistant's AI automation (CSV parsing, receipt scanning, invoice generation, auto reminders) typically save 5-10 hours/month. At $12/month, that's $1.20-2.40 per hour saved.

Significantly. Tally Assistant is designed for freelancers who want to spend zero time learning accounting. The AI handles categorization, currency conversion, and invoice formatting automatically. Zoho Books is a full accounting suite that requires setup and accounting knowledge to use effectively.

Yes — and it does more. Expensify is excellent at expense tracking but doesn't handle invoicing, income tracking, or multi-currency management. For freelancers who need one tool that covers the full financial picture (what you earn AND what you spend), Tally Assistant replaces both Expensify and your invoicing tool.

It depends on what you value. Tally Assistant is the better fit for freelancers who want AI invoice generation, CSV import, and automated reminders at a flat $12/month with a free plan. FreshBooks remains stronger for highly customized invoice templates and its client portal. Wave is the free manual option, while QuickBooks and Xero are better for full double-entry accounting and accountant collaboration.

There is no single best free option. Wave's free plan covers manual invoicing and accounting. Zoho Books is free under $50K annual revenue but requires accounting setup. Tally Assistant's free plan includes CSV import, manual invoicing, and up to 100 transactions/month for 5 clients, with AI features on Pro at $12/month. Choose based on transaction volume, currencies, and how much manual entry you want to avoid.

Yes. Create a free Tally Assistant account and generate professional invoices with AI at no cost. The free plan includes 100 transactions per month and up to 5 clients — no credit card required.

Static PDF templates require you to manually fill in every field — client name, line items, tax calculations, invoice numbers. Tally Assistant generates the entire invoice from one sentence. Your branding is auto-applied, tax is auto-calculated, client details are auto-matched, and the invoice is sent as a professional PDF with an embedded PayPal payment link.

Yes. In one click, convert any quote into an invoice. All line items, amounts, and client details carry over automatically.

Send a receipt after receiving payment from a client. It confirms the payment was received and serves as documentation for both you and your client. Tally Assistant makes this one click — all payment details are auto-filled from the invoice.