Quickbooks Integration - is it in the works?

Hi all,

Firstly I am new to this forum so please forgive me if this is the wrong place for my post.

I would love to go #FullMonzo, but currently the only thing holding me back is the fact that I use Quickbooks Self Employed to manage all of my business income and expenditure. The Quickbooks app links directly to my TSB current account and allows me to mark transactions and business or personal allowing me to generate my tax return at the end of the year.

My question is: are there any plans to allow Monzo to integrate with Quickbooks? I know I could export my transactions manually, but that defeats the object of Quickbooks in my opinion. The moment this functionality is added I could (very happily) close my TSB account entirely.

Cheers!

Monzo are only trialling business accounts at the moment, and what with MTD being a thing now, I’d be surprised if they didn’t try to integrate with as many accounting packages as possible.

You’ll know for sure when they release their business accounts to the general public.

I had read about their business accounts, but the beauty of Quickbooks is that allows me to use one bank account for personal and business spending and filter the transactions in the app. It would be very disappointing if only the upcoming Monzo Business accounts (which presumably will carry a cost) had Quickbooks connectivity.

Thanks for your reply!

I can see that, but Monzo accounts aren’t supposed to be used as a business account. They are personal accounts. I guess, if they thought someone was using a personal account as a business account, they could close it.

I’ll admit that I haven’t seen that in the T&Cs (because I haven’t looked), but I don’t see why they would have business accounts as well as personal accounts if customers could just use their personal accounts as business accounts.

I think you would be hard pushed to find many (if any) self employed freelancers who use a paid business acount for their day to day work…

For reference, every high street bank allows Quickbooks connectivity from their personal accounts. My TSB account is a personal account, not a business account.

There have been no announcements or hints that there is a fee for opening a business account :slight_smile:

If you’re a self-employed freelancer then you’re not really running a business, hence wanting a freelance account.

I assume you’ve seen you can export statements to QIF file?

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I expect you are right. I know, if I was a self employed freelance worker, I’d not pay for an account.

Would the onus not be on Quickbooks to integrate with Monzos API?

I think there has!

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@tommy5dollar Yeah I could manually export, it just defeats the object of paying for Quickbooks for me.

@Codf You may well be right. I have requested Monzo within the Quickbooks app.

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I stand corrected, my bad.

So does the business account have Quickbooks integration, is that what the fee is for?

No, as above I think the onus would be on Quickbooks to integrate with Monzo.

I think the fee is just because Monzo feel there should be a fee.

Personally I feel the Monzo business offering needs a lot of work and would be looking at Coconut or Starling first and just let Monzo do it’s thing in the background.