IT Contractor ideas

Here are a few things that would make it easy for me as an IT contractor to use a Monzo business account.

  1. Rules
    The ability to automatically process inbound transactions and split money off into pots. When I get a payment from a certain customer or for a certain amount (over £10,000 for example) to be able to take 1/6th of it and put it into my VAT pot and another 20% into my corporation tax pot would be great and save me doing it manually.
  2. Receipt attachment
    Monzo personal already has this so I hope it carries over - the ability to attach notes and receipts to transactions so I can keep all my expenses information in one place.
  3. Client tags
    To be able to create client or project specific tags so I can attach them to expense transactions and report on them would be just great.
  4. Accountant reports
    My accountant takes pdf copies of my bank statements and then does my accounts from there. Obviously they need to know if I have VAT receipts for expenses and also sometimes some notes on the transactions explaining what they are - having this information attached to the transactions in the app is great but it would be even better if I could generate monthly or quarterly reports and send them straight to my accountant.

Hope you can do some/all of these things.

7 Likes

I really like number 4 especially.

Btw I’ve moved this threas to feedback so people can vote .

A flexible rules system would be amazing.

I do my own account but I have to question the qualifications of someone who uses PDF over CSV or similar. That sounds like utter madness.