What do we need to build to replace your accounting package?

Our vision for Coconut is to make self-employment easier than being employed.

We’re doing this by building the ultimate accounting and tax tool for self-employed people.

We believe accounting packages should provide a better experience for self-employed people. So instead of putting our time into integrations, we want to build the features you need in one place: Coconut.

So, we’d love to know - what’s stopping you from ditching your accounting package?

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I am so glad you said that. I would love for Coconut to be my all in one Business account and accounting package!

For me, as a freelance service provider, I don’t need most of the features of accounting software. I just need to record my income and expenses, generate invoices (with my logo) and output reports for tax submission and business insight. Coconut is so close, but there are some features I need or am waiting for, it would be good if some of the tools had more features:

  • Receipt scanner was smarter and had features like zooming in, to preview the picture you have taken, to make sure all information is eligible before saving. Cropping, so you can remove background. Text recognition, or even better would be auto matching the receipt to the transaction :slight_smile:
  • Record transactions as partial business expenses, so you can choose a percentage or certain amount of the transaction as business.
  • Add cash purchases to Coconut, so any expenses that were just not possible to pay by card, can be manually recorded for tax output.
  • Vaults to set aside money for saving for tax
  • Mileage tracker. @markpolo idea in this forum for a mileage tracker is perfect! Mileage Tracking
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This is super helpful - thanks @VoiceActor! (CC @russ @adamjgo)

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Hi Vanessa

Number one blocker for every VAT-registered LTD company switching to Coconut for accounting is the lack of accruals-basis VAT reporting!

Thank you.

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I need to be able to integrate PayPal transactions. Many of my customers pay with PayPal, and with quick books I can add PayPal in addition to my other bank accounts. :blush:

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I use Wave and the only reason I’m still using it is because clients can pay invoices by credit/debit card. If this was possible with Coconut invoicing (via Stripe for example) I’d ditch Wave and invoice via Coconut. Some reasons why card payments are important for me:

  • I do work with international clients and paying by card is simpler for them than paying by bank transfer so I get paid quicker
  • I work with a University that has a complex system of being set up as a supplier but if I take card payments then the staff can pay it and claim the training back as an expense
  • Some of my clients are on a tight budget so the option to pay on a credit card means they have a bit of a financial buffer in difficult cashflow situations
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Multi-account. I have a limited company and side projects. I need one log in and to be able to switch to different accounts with their own distinct balances and invoice sequences, from one app. My accounting layer over my distinct bank data streams. Desktop packages do this best at the minute.

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Hi

I would like invoices to be auto completed based on the last invoice I created, so I don’t have to start from scratch every time!

Thanks

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Would love to see a connection with Google Maps which could record mileages/journeys. This is available in Quickbooks Self Employed

Hello - I think I’ve covered some of these else where but really, for me it needs to have some kind customer record keeping function. I know you record the customers name and address when creating an invoice but apart from that you can’t record any other details such as the customers telephone number and there is no search function.

Also If you are looking at competing the likes of xero etc then access to the app need to have desktop access really as when you are dealing with large customer volumes and creating lots of invoices it can sometimes be time consuming tapping it out on a phone and swiping between customer details and Coconut app back and forth. Especially if you are doing invoices with multiple items etc

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Thanks Tony, this is something that we’re looking to do. It’s a popular one. Mileage Tracking

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This is interesting @Rose_Glandfield. I’m guessing you mean for a specific client? Or are you talking about any invoice for any client?

One way of doing this would be that if you create a new client, there’s no autofill but if you select an existing client it pulls the previous details… a bit like when you make a payment and the details carry forward.

I’d love to get your views.

Just wondering if this is to see PayPal transactions in your accounting package?

I’m interested to know if adding PayPal on the invoice would work for you?

Could you share a bit more about this?

Hi, it’s so that I can see the transactions in my accounting package. I need to see both sides of the transactions, not just the transfers from PayPal to my bank account

Hi

Thanks for getting back to me - what would be useful for me would be if the Line Items field could remember what I’ve put in there before.

I’m an editor often working for months on the same project but invoicing every two weeks so ideally I would not need to fill in the “2 weeks editing on x programme on x dates” every time if that makes sense?

Thanks

Rose

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A web portal would be very useful.

For generating and sending invoices. Copying and pasting information, such as PO or reference numbers, client details, previewing invoices, email messages for sending with invoices. Accounting software like Quickbooks, Xero and Wave work well because they utilise the larger space of a desktop page that is not as easy to do on a phone screen. I use Quickbooks and even though a lot of their features are available on the iPhone app, I opt to use the website, because tasks are easier and quicker to manage and execute, especially transferring and reviewing information from one source to another.

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May be add a check box for this as not all people would want this feature. I’m just thinking forward and don’t use invoicing at all. Auto complete feature I am talking about if anyone is wondering. Or having client profiles which could be selected on a drop down to fill the bits in for you???

I have been using Wave for years as I can add manual transactions plus it has a web version which I love but they are stopping support for anyone outside the US so I’m currently looking for a replacement provider. I’d like to use Quickbooks but I cannot integrate my Coconut account. Ideally Coconut would have those missing features and I wouldn’t need anything else. So frustrating having to use (and pay for) more than one service to get everything you need!

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Hi Vanessa,

thanks for asking the question to all the Coconut users, I feel like since I have started using Coconut (Beta user here) everything in terms of keeping a record for my business has simplified. We have seen so many good features being implemented in Coconut and I believe it gets better and better but here are the features I dream of having in the hopefully near future :slight_smile:

  • a Desktop version. Having the app is fantastic, I love that I can snap a photo of a receipt with the phone and categorise it straight away and move money and send invoices all from the phone, but I also find that I am missing being able to do it on my laptop, while I am sitting down at the desk, dedicating time to my business banking, so I would love to see a Desktop software for Coconut in the future

  • a better expenses categorisation. This is probably the most time consuming thing. As said, it’s great to be able to record receipts and log them in the app but at the moment there isn’t a system that allows for an easy navigation through them. If I ask to get an export of the receipt I am not able to selected a range of dates which results in an export of thousands pictures of ALL the receipts logged into Coconut since I started using it. We need a better system

  • Vaults. I know this is underway, so I look forward to trying this on IOS.

  • Mileage tracker. I currently use Driversnote app which is great. Maybe an integration with this in the future?

  • Invoicing: including the option to CC’D people when sending invoices out. This is so important to me as I always have to CC’ other people than the recipient of the invoice and it’s frustrating not being able to do it using the app, I currently have to send the invoice to me, download it and then write a separate email with Gmail. Also, including an option where to write JOB REFERENCE would be great. I know the Purchase Order option has been added, but for a lot of invoices, the companies I work for don’t generate PO’s but they always give me a JOB REF and I have to write this in the invoice as first item which results as an item with £0.00 cost and it just looks odd.

It would be awesome so see these features integrated in the future, thank you very much for posing the question.

Nico, Grow plan user.

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Reporting! I’d love to be able to see things like margin and compare the business’ P+L to other years as simply as I can on the tax tab.