This product update features the news that Android is now live in the Google Play Store, invoicing is coming soon, and we're launching Limited Company accounts. Get in touch if you'd like to be the first to try it out.
Our Android app is now live in the Google Play Store. Thanks to everyone who has helped us during our private testing period. You guys are awesome.This month we'll be adding data exports, bank statements and Direct Debits into the Android app too.
We started Coconut because we wanted to simplify the way people manage money when they work for themselves. We reimagined the way that self-employed people, freelancers and small business owners manage their money.Our aspiration is for Coconut to be one product you can use to managing your banking, accounting and tax all in one place. That’s why I’m pumped about the upcoming launch of our invoicing tool.
We’ve designed our invoicing tool with a real focus on getting paid. This includes an invoices list that prioritises invoices based on which need your attention, with markers that show what's late and what's not.
We found in our research that invoicing often wasn’t something that would happen all in one sitting. So, we've made sure that invoices can be created as drafts easily - so you can come back to them later.
We’ve thought about the person receiving the invoice too. Often they’ll need to enter them into their own accounting system. The invoices sends as a PDF in an email so that they can be forwarded to invoice capture tools for processing without having to follow a web link to download it.
By having your invoicing tool and bank account side by side, you can automate the matching of invoice to payment in real-time. This also means we can provide automated invoice reminder functionality and you won’t accidentally send chasers to your clients when they’ve already paid you.
If you want to get involved in testing out invoicing, please get in touch.
We made the decision early on to launch sole trader accounts first; allowing us to make a product that is really unique. It’s the only place you can get a full UK current account that automates your accounting right from payment through to your tax return.Limited companies are a little different to sole traders. They have a different legal structure, which has a knock on effect to the way your accounting works. They're more complex and a lot of small business owners enlist an accountant to help manage things like year end accounts and corporation tax returns.We’ll be rolling out our limited company accounts over the next few months. Here's what we’ll be doing at launch stage, and what we’ve got planned:On launch next month:
We’ll be starting our limited company testing next month, so stay tuned. If you’re interested in being one of the first to try it out, let us know.
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.