Originally posted by mattfx
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A business current account that does your accounting
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Originally posted by Lance View PostTo start a challenger bank needs a few hundred million £ in capital. One would have thought that with this sort of backing, a business plan slightly more advanced than “HSBC+sage and ask around a few forums peopled by cynical gits” would be needed.
So can you share more details of the plan to get some interest?
Or do you not have a few hundred million yet?Leave a comment:
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To answer your question with an answer rather than more questions
Metro Bank and SJD. The former I am very happy with, the latter I am also happy with but skeptical about due to all the scaremongering on the forum.
If you can make it work it sounds good, however SJD already have integration with Metro so all of my transactions get updated on their online platform, all I need to do is "allocate" transactions in the accountancy section and describe the purpose of the transaction (i.e. invoice in, expense out, dividend, etc.)
I don't really know how you would automate all of that any further than it already is in a platform like theirs, short of working out mathematically what the invoices/expenses are and then when the transaction comes in from the bank side, auto allocating them.Leave a comment:
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A business current account that does your accounting
To start a challenger bank needs a few hundred million £ in capital. One would have thought that with this sort of backing, a business plan slightly more advanced than “HSBC+sage and ask around a few forums peopled by cynical gits” would be needed.
So can you share more details of the plan to get some interest?
Or do you not have a few hundred million yet?Leave a comment:
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Tim did say a ‘challenger’ bank, so that would rule out HSBC!
Hopefully not Sage either!Leave a comment:
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So, a user friendly piece of software, maybe like Freeagent, but it being directly on your bank account so it does all your expenses, your VAT returns, your CT, your dividends, salary, etc and pays the correct amount to HMRC?
If it can do all that, with guarantees from the company behind it that the figures are legal and correct, then maybe it is a possibility.
But you'll need to show us your design and provide POC, unless you want us to design it, test it, etc, and you wit back and watch the money come in for our work?Leave a comment:
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Originally posted by timfouracre View PostThink HSBC and Sage in one product.
<sucks teeth>
Oh Dear.
Oh Dear, oh Dear....Leave a comment:
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Sounds like an idea with potential but I’d be concerned that there’d be a compromise is either, or both, key components.Leave a comment:
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Originally posted by timfouracre View PostThink HSBC and Sage in one product.Leave a comment:
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A business current account that does your accounting
Hello, I am seeking some friendly feedback on the idea of a challenger bank that is also your accounting software.
Think HSBC and Sage in one product.
I am the founder of a company, Countingup, and we’re building this at the moment.
As a contractor what do you use at the moment for accounting and banking and what do you think of the Countingup idea to combine them?
I’d really appreciate your comments, positive or negative. Thanks!
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