Hello Monzo Community,
As a Monzo Business account user, I have been impressed with the existing features and integrations provided by the platform. Two standout features are the spending categories and invoice, which greatly simplify expense and income tracking and make third-party accounting tools less essential. However, there are still areas where Monzo Business could be even more convenient and efficient for users .
I propose the following feature enhancements to further streamline the Monzo Business experience:
- Payroll Integration: A built-in payroll system would enable users to manage salaries, employee taxes, and deductions directly within the Monzo Business platform, eliminating the need for external tools or services.
- RTI Reports: Real-Time Information (RTI) reporting is crucial for businesses to comply with HMRC requirements. Incorporating this feature would save time and reduce the potential for errors.
- Dividend Management: A tool to calculate and distribute dividends to shareholders would be invaluable. This could include features such as calculating tax allowances for the current tax year and determining taxes due, even when the tax year differs from the company year.
- Reporting Reminders & Templates: Reminders and templates for various reports (including account and Confirmation Statement submissions to Companies House) would ensure that businesses remain compliant with their reporting obligations while simplifying the process.
- Self-Assessment & Corporation Tax: Integrating self-assessment and corporation tax features would make it easy for businesses to manage their tax liabilities and payments from within Monzo Business.
By implementing these features, Monzo Business could become the ultimate one-stop-shop for small business owners, making accounting and financial management even more seamless and user-friendly. What are your thoughts on these suggested enhancements? Are there any additional features you’d like to see in Monzo Business? Let’s discuss how we can make our Monzo experience even better!