Introducing: Xero and FreeAgent for Business Accounts!

Hi Monzo Biz team, thanks for your great work! I can see on the trello board that you included Quickbooks integration in the “From our community” column. Is there an ETA when you might be working on it? It’s the only thing stopping me from switching right now.

I’m on the waiting list for a business account and in the mean time I’m going to move away from Harvest, my current time tracking and invoicing software to another provider that will integrate with my Monzo account. Should I go for Xero or FreeAgent?

My basic requirements would be to manage clients & projects, add tasks to a project, track time on a project and then invoice time at the end of the month. I’d also like the ability to do recurring invoices as currently have lots of those in place.

Finally I’d like to do my Self Assessment digitally, do both those options integrate with HMRC?

Thanks :slight_smile:

I think you’d need to add xero projects onto your Xero subscription for that. Not something I use but it looks good from a quick google

Recurring invoices are available and so is making tax digital.

I like Xero compared to sage which I used before and

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I think you can do this all with FreeAgent. For some clients I input my time worked each day and your invoices can either show a total, breakdown by day, or no time breakdown. You can definitely add clients and projects, and assign PO numbers to projects so they come up on all invoices. And you can do recurring invoices - which can automatically pull in unbilled hours (I’m fairly sure it does this, I’ve not done it, but am 95% sure I saw the option).

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@633shane Have a look at the FreeAgent software for all your needs and the technical support is absolutely brilliant, best I’ve used

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Thank you, I have actually decided that before fully committing to anything I am going to try them both as well as Quickbooks. That way I can be sure that it does everything I need before putting too much time in and backdating all my info. I’ll report back which suits best :smile: …thank you for your replies though :ok_hand: …just need that business account now too please Monzo! :pray: :rocket:

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Ok, so don’t bother with QuickBooks, the support community is terrible and doesn’t even load most of the time. The main issue though is that like many freelancers, I have a full time job. It doesn’t allow you to add earnings etc. from that employment which maxes the tax calculation tab a complete waste of time (one of the main reasons I’d want to use accounting software!). Theres no tracking for time either and no client management… at least with the subscription level I set up.

100% spot on with this, I’ve tried all 3 solutions now and FreeAgent is slick and takes in to account my normal salary too. It works really well for adding clients, tracking time and invoicing plus it does a really good job of categorisation of my transactions. Thankfully I’ve always kept a separate bank account for freelance earnings with Halifax… soon to switch over to Monzo when I get an invite… :):pray::rocket: :point_up:

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FreeAgent is real good, I’ve been using it for years, but the best bit for me is their support, just amazing and a great help, I’m always very impressed :smile:

Hi. I’m mid-move from Starling to Monzo Business due to a few reasons, mainly:
1/ I’m all in on Monzo anyway with personal and joint; and
2/ their pot/space doesn’t work well with FreeAgent integration: they show as transfers out but no pseudo account for it to go into.

However, their live integration is great, found it really useful, it really helps over a daily dump that we get at the moment with Monzo. Are there plans to being this functionality in? I’ve checked Trello and can’t see it.


I can add another vote for FreeAgent. Been using it for years without any problems. I find it great for project tracking & invoicing.

Would definitely recommend giving it a trial.

At the moment I’ve been using my monzo account as a gateway into my current business account. I sanded up to the business list about 4 months ago and can’t wait to move my business from coconut biz banking to monzo.

I love monzo personal, and coconut is missing many feature I’d like. Please hurry and let me in.

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I’m already on the waitlist and I’ve just got a message saying no more Business Accounts are being opened for the time being.

Can you therefore offer full integration with Free Agent for regular accounts in the meantime as this was really the only reason why I was after a business account? The software is there clearly so why can’t it be offered to personal account users? I’d even be happy to pay a small fee for this feature if necessary.

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Unless you really want all of your banking with Monzo, you are probably best off opening a Starling business account which offers the FreeAgent integration and is completely free.

Gut feel is that this delay could be many months before new accounts are offered.

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I would recommend using soft that your accountant is familiar with. I use Xero, because it was recommended by my accountant, which did all the setup and does most of the management.

The original announcement mentioned “we’re working hard to bring instant syncing really soon.”. Do you have a time frame for this feature please?

:wave: we don’t have solid timelines for this unfortunately. we’re not actively working on instant syncing right now since we have a few other things we’re working to get off the ground first

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Ok, although it’s worth knowing that the only reason I signed up for Monzo business was because of this announcement. Your biggest competitor has this feature and the account is free…just sayin’!

As I understand it Monzo is using FreeAgent’s API to push transactions into their system? Unlike with high street banks where FreeAgent is pulling transactions using Open Banking API.

If that’s the case, does FreeAgent’s "Guess explanations for my bank transactions
" feature work with Monzo BCA? I would guess that it’s probably not due to different way of integration.

Is there a reason why the date of transaction isn’t pulled through? Makes adding receipts super annoying.

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