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We’re back! So, what improvements have we been busy working on?

16th Apr 2024
Brought to you by
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Coconut’s simple bookkeeping and tax app is specifically designed for sole traders, helping them...
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It’s hard to believe that a year has gone by since GoSimpleTax bought popular accounting app Coconut. How time flies, eh?   

“The deal aims to combine Coconut’s bank-feed-driven bookkeeping with GoSimpleTax’s Self Assessment and VAT filing to create a challenger in the UK cloud accounting market targeting the self-employed, sole traders and landlords,” was how Tom Herbert reported it on this very website.

Perfect partners

In case you didn’t know, Coconut is the accounting app created for sole traders, freelancers, landlords and their accountants. It helps them to track their income, record and categorise their tax expenses and work out how much tax they owe in real-time. Coconut also enables sole traders and freelancers to send customisable invoices and receive automatic reminders to chase when overdue.

Via the Coconut platform, if their clients have subscriptions, accountants get free, instant access to their accounting data, saving them time and effort when completing Self Assessment tax returns and providing other client services. Nice discounts are available to accountants who sign up five or more of their clients to annual subscriptions.    

Also used by thousands of sole traders, freelancers, landlords and accountants all over the UK and overseas, award-winning GoSimpleTax offers users a simpler way to complete Self Assessment tax returns and supplementary pages and file online directly with HMRC. Using GoSimpleTax also makes basic errors much less likely. Returns can be completed much quicker, because GoSimpleTax features many time-saving shortcuts, with users guided through relevant parts of the tax return only.

In so many ways, GoSimpleTax and Coconut are perfect partners. It’s almost as if they were made for each other. When used together they offer an efficient end-to-end record keeping to tax-return-filing solution that accountants can use to save lots of time and money, while providing their clients with a more efficient, first-class service.  

What improvements have we made this year?

It’s certainly been a very busy 12 months, with much work having been completed to ensure that users of Coconut and GoSimpleTax can gain much more value.

  • Although both Coconut and GoSimpleTax are ultra reliable and offer an excellent user experience, our development team have made multiple successful updates, with various enhancements and bug fixes.
  • We’ve also committed much resource to even closer integration between Coconut and GoSimpleTax. That means, if your clients are using Coconut to record their business/rental income and expenses, you can almost effortlessly transfer the necessary figures into their Self Assessment tax return, which really does provide a huge time-saving end-to-end solution.
  • Android expense receipt capture is also now possible when your clients are using Coconut, so Android users can enjoy the same convenient expense-management benefits as iOS app users.
  • For Android and iOS app users, we’ve added SA105 (property) supplementary page reporting alongside SA103 (self-employment) for easy completion of your clients’ tax returns.
  • We’ve also improved the logic behind our open banking feeds to minimise duplicate transactions in Coconut. We know this is a problem across other accounting apps, so we’ve really tried to get this spot-on.
  • And, finally, Coconut users (iOS and Android) can raise an invoice without having to email it, which makes things much quicker and convenient.

Book a Coconut demo

With Xero Go being retired in September, many accountants are looking for a cost-effective entry-level accounting solution for their sole trader, freelancer and private landlord clients. Some have already started using Coconut. If you’d like to find out how Coconut could benefit you and your clients, book a demo today.