Countingup
Business current account with built-in bookkeeping for UK sole traders and small businesses.
About Countingup
Countingup is a UK business current account with bookkeeping built directly into the banking layer. Every transaction you make with the Countingup card or account gets categorised automatically as it posts — no bank feed lag, no third-party sync errors. The app calculates a running tax estimate based on your income and categorised expenses, so a sole trader can open the app on any given Tuesday and see an approximation of their Self Assessment liability without touching a spreadsheet. It suits UK sole traders and micro-businesses — think freelance contractors, tradespeople, and early-stage limited companies — who would otherwise run a separate business bank account alongside FreeAgent or QuickBooks Self-Employed. Countingup collapses those two subscriptions into one product. Accountants working with sole trader clients sometimes use Countingup's accountant portal to view client books without needing to chase exports. The limits show up quickly once a business grows. Transaction categorisation works well for straightforward income and expenses but struggles with split transactions, inter-account transfers, and anything requiring manual journal entries. There is no payroll module, no inventory tracking, and no double-entry ledger — so the moment a sole trader takes on staff or needs accrual-basis accounts, they outgrow it. Integrations are thin: no native Xero or QuickBooks sync, which frustrates accountants who want to pull data into their own practice software.
Best for
UK sole traders wanting a bank account that automatically does their bookkeeping
Key Features
- Automated transaction categorization
- Built-in business current account
- Real-time tax estimate calculations
- Receipt capture and digitization
- Cash flow insights and reporting
Pros & Cons
Pros
- Transaction categorisation fires at the point of settlement, not via a delayed bank feed, which eliminates the sync failures common in Xero-to-bank-feed setups
- Running Self Assessment tax estimate updates in real time as transactions post, giving sole traders a live liability figure without manual calculation
- Receipt capture is built into the same app as the account, so matching a receipt to a transaction takes seconds rather than a separate Dext or AutoEntry upload
- Single monthly fee replaces a standalone business bank account plus a separate bookkeeping subscription — cheaper than Starling plus QuickBooks Self-Employed combined for most sole traders
- Accountant access portal lets practices view client books directly without needing the client to export a CSV or share login credentials
- Cash flow dashboard shows upcoming expected inflows and outflows based on transaction history, useful for sole traders managing irregular income
Cons
- No Xero or QuickBooks integration — accountants who work in those platforms cannot pull Countingup data in without a manual export, which breaks most practice workflows
- No double-entry ledger and no accrual accounting, so it produces reports unsuitable for any business that needs audited or GAAP-compliant accounts
- Split transactions and inter-account transfers frequently miscategorise, requiring manual correction that undermines the automation pitch
- No payroll functionality — a sole trader who hires their first employee must add a separate payroll tool immediately
- Sole UK focus means any business with overseas payments, foreign currency accounts, or non-UK tax obligations gets no value from the tax estimate features
- No free tier and no meaningful trial period — you must open a live bank account to evaluate the bookkeeping features, which is a higher commitment barrier than trialling FreeAgent or QuickBooks
Ledger Brief Take
This hybrid bank-bookkeeping solution targets UK sole traders who want to collapse their financial stack into a single product rather than juggle separate banking and accounting tools. The transaction categorization happens natively since they control the payment rails, giving it a data advantage over third-party bookkeeping apps that rely on bank feeds. It's essentially a challenger bank with accounting features baked in, competing more with Starling or Monzo than traditional practice management software.
Frequently Asked Questions
Common questions accountants ask about Countingup.
How much does Countingup cost?
Countingup charges a monthly fee based on your average monthly deposits. At time of listing, plans start around £3 per month for low-turnover accounts and rise to approximately £18 per month for higher-volume businesses. There is no free plan. You must open a live account to use the bookkeeping features — there is no sandbox or trial mode.
Does Countingup integrate with Xero or QuickBooks?
No native integration exists with Xero, QuickBooks, or FreeAgent. You can export transaction data as a CSV and import it manually, but there is no live sync. Accountants who run their practice on Xero or QuickBooks will find this a significant friction point and may prefer a client using Starling with a connected bookkeeping app.
How does Countingup compare to Starling Bank for small businesses?
Starling offers a richer banking product — better international payments, overdraft facilities, and integrations with Xero, QuickBooks, and FreeAgent. Countingup's advantage is that bookkeeping and tax estimates are native to the account rather than bolted on via a third-party feed. For a sole trader who wants zero integrations to manage, Countingup is simpler. For a business with an accountant on Xero, Starling is more compatible.
Is Countingup suitable for limited companies?
Countingup accepts limited companies but the bookkeeping features are built around sole trader needs — primarily cash-basis income and expense tracking plus Self Assessment estimates. A limited company requiring Corporation Tax calculations, dividend management, or a full double-entry ledger will find the accounting layer too thin and should look at FreeAgent or Xero instead.
How secure is financial data held in Countingup?
Countingup is authorised and regulated by the Financial Conduct Authority as an e-money institution. Customer funds are safeguarded in ring-fenced accounts with a third-party bank rather than covered by FSCS deposit protection up to £85,000, which is the key distinction from a fully licensed bank like Starling. Verify current safeguarding arrangements directly with Countingup before depositing significant balances.
Can my accountant access my Countingup books?
Yes. Countingup provides an accountant portal where practices can view client transaction data, categorisation, and reports without sharing the client's login. Access is read-level — the accountant cannot initiate transactions. This works for review and compliance purposes but does not replace a full practice management integration with tools like Xero or QuickBooks.