Since I’m a Starling customer (using via True Layer for Coconut accounting), I thought I’d take this new Tool Kit for a spin to see how it compares to Coconut, here is my experience below.
Initial reactions, the email sells the features well, and wow 3 months free sounds great. It’s well marketed and enticing. So I allow sharing permissions in-app and sign up for the subscription.
Let’s dive straight in -
I quickly realised that this is a web only offering, having just signed up via the app, which I find very strange and backwards.
No mobile version exists, so the features needed to be really good to convince me, since the Coconuts mobile experince is one of the key reasons accounting is so frictionless.
The UI is simple, but extremely bland.
Invoices are very manual and there is no intergration with companines house search like in Coconut, which I find really useful since it pulls all the company info straight in.
Bookeeeping - wow stay away from that mess, you might as well use an excel spreadsheet.
You can add an external transaction - which I think is a feature still missing in Cocconut, since this can only be done as a total amount fo rall missing income.
Digital VAT submissions connected to HMRC seems like the only great feature here.
There’s no predictions for VAT estimations or a way to appply the same rate to multiple items. A new feature recently launch in Coconut which I absolutley love. I hope to see more of these AI predictions in the future.
Like Monzo’s business account this feels like a beta product that’s not ready for mainstream consumption. It feels like the big honchos upstairs just wan to tick a box to show their investors that they have Coconut features.
The consumer offering is very poor
Starting to wish I’d invested more than £10 on Crowdcube now ; )