Crunch launches mobile accounting platform for UK’s self-employed
Online accounting provider for Britain’s self-employed population Crunch has launched its new mobile platform after four years of development and £5.5 million later.
Alongside digital tools, the fintech also provides human accountants ‘on-demand’ to freelancers, contractors, start-ups or small businesses.
The new mobile platform ‘Ada’, named after the English mathematician Ada Lovelace – one of the country’s very first computer programmers, will be phased in over the coming months to Crunch’s 11,000 customers.
“We’ve produced a new slick, efficient and intuitive platform with all of the crucial functions our customers need to run and grow their business,” says Crunch’s CEO and founder Darren Fell.
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Ada offers entrepreneurs 42 features, from services as familiar as open banking which connects users directly to all UK banks, to more specific features for micro-businesses such as automatically raising dividends – this is done by calculating the maximum amount customers can take out and creating the official documentation. Crunch says the latter service “is not yet available by any other accounting software”.
Currently offering plans starting at £29.50 per month, Crunch’s software can also populate end-of-year documents for micro-businesses, automatically filing them with Companies House and HM Revenue and Customs (HMRC).
These digitised paperwork features also include setting recurring invoices, recording expenses and enabling Making Tax Digital (MTD)-compatible VAT returns.
Crunch says its free community for micro-businesses, Crunch Chorus, has helped more than 50,000 freelancers, contractors, and small businesses by publishing “jargon-free” business guides, templates and offering access to networking opportunities.