It would be great if you could print out your statements and have database that could recognise every item bought by a code so that it could streamline spending into categories, so for example I could just print of petrol receipts or grocery etc
I’m curious, why do you want a paper copy of your transactions when you can use an electronic copy and grep it?
On the app you can split spending into categories but not yet export by category.
On the current account (on iOS at least) you’re able to export the data as either a CSV (comma separated value) or QIF (proprietary format used by various bits of accounting software) which includes categories as one of its fields.
I guess therefore that it wouldn’t be too tricky to do given that each of these has a category or even add additional options to the export so that it could export as a PDF statement of everything or per category
I’m sure someone techy around here is already working on a way to use Monzo CSV files.
Excuse my ignorance if this is a well-known fact, but how do you export your statements data from the Monzo app under Android?
This is the pre-paid account I’m talking about.
You have to contact support via chat. Due to some issues with the system, Android exports are now being done manually for the moment which may cause some delays
EDIT: to be clear, these are issues with the system COPs use to generate the statements
In a word or acronym HMRC. I have to do a lot of admin every year to categorise my spending as this is a requirement when submitting my tax. As I intend to do all my business spending on this card it would be fantastic if the database was smart enough to streamline spending. No pressure Monzo
Great I’ll wait for the nod…
Interesting, and it’s still entirely paper based? I was able to do my self assessment entirely online but admit I haven’t had to do business expenses
No. They have online services for business as well as for individuals
Don’t get me wrong guys I do my tax online and it works fine, but it’s compiling the invoices and receipts to get grand totals that I find tedious. I am trying to move away from the traditional method to add expenses manually on a spreadsheet. Can you see where I’m going ??
For business expenses you could try the Expend card or a Tide business account as they are intended for business expenses which Monzo is not. Tide is also backed by one of Monzo’s main shareholders. Tide is for ltd co and self employed, there is also another company Coconut which for self employed, freelancers and contractors - but not sure if that one is out of beta yet.
I don’t think this one is available yet. I’m on the waiting list. It looks interesting.
The latest update on Coconut is:
They’re going to start testing cards and current accounts in November, beginning with a select group of sole-traders who make up 60% of those who expressed an interest in getting an account.
In January sole-traders will be starting off their new year with the official Beta launch of Coconut. Limited companies may have to wait until the 2nd Quarter before they start receiving invites.