In our product update for Mat 2018, we talk about our latest app release. We’ve primarily focused on adapting and tweaking existing features so they work better for you.
With this app release, we’ve primarily focused on adapting and tweaking existing features so they work better for you.With 1,200 customers now using their Coconut current accounts, we’ve been able to take on board a lot of feedback to ensure every update provides something valuable.
It's been really useful to hear what categories you think are missing. On the back of those conversations, we’ve enhanced our categorisation to include more comprehensive guidance about tax rules and more categories, including:
Plus some added bonus categories to help you keep track of your finances:
We've also updated the way you can pay to and from your personal account.Previously, we had 3 categories that you could use for these sorts of payments:
We’ve found that some of you are already familiar with the accounting terminology for these kinds of payments (“Capital Introduced” and “Drawings”). So we’re updating these categories as follows:
We've removed the "Transfers" category, as most customers found this too broad. We’ve grouped these new categories in a section called “Your Personal Payments”.
You can now see which transactions you’ve added receipts to with a little paperclip indicator in your transactions list, handy for remembering which ones you still need to add.
We’ve made some updates that bring us in-line with the new European data protection rules (GDPR) that came into force on Friday 25th May:
We’ve updated the design of the More tab, cleaned up some of our icons and increased the minimum text size.We’ve also moved things around within the tax tab. The Tax Profile is now broken into its own row, which we hope will make this more obvious when you’re exploring the app. And if you’re new to Coconut, you’ll also notice a prompt to fill it out when you first arrive on the tax tab.
We're working hard on new features, here's a couple of the things we're working on.Split transactionsSoon we’ll be introducing this nifty feature, whereby you can split individual expenses and transactions between categories.This is especially helpful for splitting personal and business expenses or differentiating between income and expenses.New Accounts tabWe want to pack a lot into the Coconut app, including an invoicing tool. We’re currently using all 5 tabs in the app though, so we’re going to combine the Activity and Card tabs into an Accounts tab.This will let you get access to your Card functions through a drawer, and also lay the groundwork for an accounts switcher for when you can have multiple accounts.
You can check out these along with our other plans on our interactive product roadmap, and we'd love to hear your feedback.
VAT management has arrived at Coconut. Start recording VAT on all of the transactions you make through your Coconut account today.
We have emailed everyone affected. If you didn't receive an email from us then you were not affected by the breach, but if you have any questions please feel free to get in touch.
Coconut gives you a personal tax estimate for sole traders, and a corporation tax estimate for limited companies. Make sure you set it up right, here's how.