- What do you do? Are you a sole proprietor, contractor, limited company?
Building Contractor - Limited
- What are the big pain points in managing your business finances? (think about things like invoices, expenses, payroll, taxes, etc.)
We don’t have too many pain points but I would say keeping track of monthly spending with different suppliers and tax prediction are the main issues. We did try tracking expenses with an app but it got to complicated with materials returned and credits. Most of our monthly spending is through supplier credit accounts.
- What tools do you currently use to manage your business finances?
Currently we use Starling for banking and an app called Joist for estimates and invoices which has been a game changer for us. I still have a Barclays account but only because I have a long trading history with them which is useful for account applications.
- What do you like / dislike about your current business bank account?
Starling is good and there isn’t really anything I would change. A additional feature would be custom categories so that we can categorise tools, materials, labour etc so that I have an ongoing breakdown of what’s being spent within each area.
- If you could request one key feature for your business current account, what would it be? Are there any other features you look for in a BCA?
As I mentioned before custom categories would be great and real time profit and loss and basic tax prediction so that we would could put by a percentage into a pot. I’m not fussed about invoicing within the app but maybe a link to Joist for example could be beneficial.