With Coconut, your clients can connect bank accounts from over 25 institutions to consolidate their business transactions in one place and to enrich their data with bookkeeping information, like categorisation, receipts and notes.
When we ask your clients to connect their bank accounts, we ask them to identify the account as one of two types based on how they use it:
Mostly business transactions
A mix of business & personal
1 Mostly business transactions
All transactions will be automatically be assigned an initial category using Coconut's categorisation algorithm. Both you and your client can reassign categories through the client mobile app or accountant web app.
2 A mix of business & personal
We will set all transactions to be 'personal' initially - transactions can then be marked as business by you or your client.