Coconut is predominantly focused towards Sole Trader and Landlord clients, but we do offer basic support for simple Limited companies who are already using the app, such as:
Categories for capturing some limited company income and expenses e.g. dividends, staff wages, corporation tax
Category summary report to export any categorised information
If you are using Coconut as a Limited company, you should ensure that your accountant is aware that you're using Coconut and has all the necessary tools to complete your end of year accounts. Please also note that if you are just getting started, you will not be able to sign up as a Limited Company.
Income Streams and Limited Companies
Limited Companies should be treated as separate entities and should therefore be managed through separate Coconut user profiles rather than Income streams. Income streams are designed to manage different sources of income for Sole Traders and Landlords and are of no avail to Limited Companies.
'Taxes' Tab and Tax Saving Suggestion
If you're already signed up as a Limited Company, you won't have access to the 'Taxes' tab.
Please note that the 'Taxes' tab and tax saving suggestion are intended for Sole trader use. This article explains how to work out how much to set aside for tax as a Limited Company.