TradeTally vs Coconut
Coconut is a UK fintech that combines business banking with tax tracking for sole traders and freelancers. It automatically categorises transactions from your Coconut account for tax purposes. While innovative, it requires you to use their banking product and has limited invoicing features.
Coconut
£5–£12/month
Founded 2017 · UK sole traders, freelancers
TradeTally
£12/mo
Built for UK sole trader tradespeople
Feature comparison
| Feature | Coconut | TradeTally |
|---|---|---|
| Invoicing | Included | ✓ |
| Quoting | Not included | ✓ |
| Expense tracking | Included | ✓ |
| Receipt scanning | Not included | ✓ |
| SA103F export | Not included | ✓ |
| Mobile app | Included | ✓ |
| MTD submission support | Included | Not available |
| Bank reconciliation | Included | ✓ |
| Payroll | Not included | ✓ |
| Multi-currency | Not included | ✓ |
| Inventory management | Not included | ✓ |
| Time tracking | Not included | ✓ |
Where Coconut wins
- Automatic tax categorisation from banking transactions
- Built-in business current account
- Real-time tax estimates as you earn and spend
- Very affordable pricing
Where TradeTally wins
- Invoicing is basic: no professional templates or quoting
- No dedicated SA103F one-click export
- No receipt scanning for logging cash expenses from merchants
- Forces you to switch bank accounts to get full value
- No trade-specific features or job-based expense tracking
Common questions
Should I use Coconut or TradeTally as a tradesperson?
If you want a combined bank account and tax tracker, Coconut is interesting. But most tradespeople want to keep their existing bank and need proper invoicing, quoting, and receipt scanning: that is where TradeTally excels at £12/month.
Does Coconut handle invoicing as well as TradeTally?
No. Coconut's invoicing is basic: no quoting, limited templates, and no trade-specific features. TradeTally gives you professional invoicing, quoting, receipt scanning, and SA103F export in one focused app.
Can I use TradeTally alongside Coconut?
Yes. Some sole traders use Coconut for banking and tax estimates while using TradeTally for professional invoicing, quoting, and expense management. The two complement each other well.
Switch from Coconut to TradeTally
Built for UK sole trader tradespeople — quotes, invoices, receipts and tax records in one place. Start the 14-day free trial, no card required.
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