Having just paid my Corporation tax (ouch) I realise that one key benefit of a Monzo Business Bank will be that ‘Tax Pot’.
However I currently use Paystream for my accountant (it was recommended to me when i started contracting a couple of years ago). Would this cause them issues when looking at my account?
(there is a larger followup question of: surely I can just do my own accounts as my income is mostly static every week…)
I’ve commented elsewhere that statements are a mess, particularly with use of pots. I completely ignore pot movements when doing my accounts but it’s a complete pain. They are not separate accounts, so there are no statements. Yet the account statement shows what is effectively an incorrect balance, as it does not include pot balances. It’s the thing I most hate and I’m dreading going through it with my accountant come the end of September.
I use FreeAgent with my Starling business account. Transfers to Pots/Goals don’t show up automatically, I had to create an ‘account’ in FreeAgent and manually enter a transfer each time I move money in/out.