BooksTime vs Monzo Business: Complete Comparison (2026)
An in-depth comparison of BooksTime and Monzo Business to help you choose the right tool for your business.
Last updated: November 2026
BooksTime
5.9/10
Outsourced bookkeeping service that gives small businesses and nonprofits a dedicated bookkeeper who works in QuickBooks, Xero, or other accounting software.
Monzo Business
6.5/10
Monzo Business is an app-based UK business bank account for sole traders and limited companies. It includes invoicing, Tax Pots, expense cards and accounting software bank feeds.
Feature-by-Feature Comparison
| Feature | | |
|---|---|---|
| Scores | ||
| Overall Rating | 5.9/10 | 6.5/10 |
| Analytics | 6/10 | 4/10 |
| Compliance | 5/10 | 7/10 |
| Cost | 5/10 | 8/10 |
| Customization | 7/10 | 4/10 |
| Ease of Use | 7/10 | 9/10 |
| Integration | 7/10 | 6/10 |
| Scalability | 6/10 | 3/10 |
| Security | 4/10 | 7/10 |
| Support | 7/10 | 6/10 |
| Pricing | ||
| Free plan | No | Yes |
| Cheapest paid plan | $320/mo Essentials | £9/mo Pro |
| Estimated cost for 10 users | $320/mo Essentials | £25/mo Team |
| Features | ||
| Financial Reporting | ||
| General Ledger | ||
| Multi-currency | ||
| Payroll | ||
| Accountant Access | ||
| Invoicing | ||
| Tax Compliance | ||
| Accounts Payable | Not listed | |
| Bank Reconciliation | Not listed | |
| Budgeting and Forecasting | Not listed | |
| Corporate Cards | Not listed | |
| Expense Management | Not listed | |
| Inventory Accounting | Not listed | |
| Multi-entity Consolidation | Not listed | |
| Online Payments | Not listed | |
BooksTime vs Monzo Business cost by team size
| Team size | BooksTime | Monzo Business |
|---|---|---|
| 1 user | $320/moEssentials | £9/moPro |
| 5 users | $320/moEssentials | £25/moTeam |
| 10 users | $320/moEssentials | £25/moTeam |
| 25 users | $320/moEssentials | FreeLite |
| 50 users | $320/moEssentials | FreeLite |
The plan that fits each team size, billed monthly, before add-ons and usage charges. Each cost opens that tool's pricing calculator for the team size.
Which One Should You Choose?
Why choose BooksTime
- Higher Customization score (7/10 vs 4/10)
- Higher Scalability score (6/10 vs 3/10)
- Includes Financial Reporting, which Monzo Business lacks
- Includes General Ledger, which Monzo Business lacks
- Includes Multi-currency, which Monzo Business lacks
Why choose Monzo Business
- Has a free plan (BooksTime does not)
- Higher Cost score (8/10 vs 5/10)
- Higher Security score (7/10 vs 4/10)
Pros & Cons
BooksTime
Pros
- Bookkeepers work in the client's existing software, and BooksTime says it supports more than 25 options including QuickBooks and Xero, so clients are not locked in.
- Essentials pricing is public, and it does not cap transactions or connected accounts.
- Monthly contracts can be cancelled at any time with no cancellation fees.
- It offers nonprofit-specific services such as Form 990 preparation and restricted fund tracking.
- All nine Trustpilot reviews give 5 stars and praise its accuracy and on-time work, including for books with several entities.
Cons
- It is not a CPA firm, so tax returns are handed to referred CPAs and quoted separately.
- There is no public security or compliance documentation.
- Essentials pricing rises with monthly expenses, and the Complete plan has no public price.
- It has few independent reviews; Trustpilot shows only 9.
- The pricing page does not say which services come with Essentials and which need Complete.
Monzo Business
Pros
- The Lite plan is free and includes Making Tax Digital software
- Pro adds invoicing, Tax Pots and live feeds to Xero, QuickBooks, FreeAgent and Sage for £9 a month
- The Team plan adds expense cards, payment approvals and bulk payments for up to 15 users
- 24/7 in-app support on every plan
- Licensed UK bank with FSCS deposit protection
Cons
- Holds GBP only, and incoming foreign currency is converted at a 1% fee
- No general ledger or financial statements, so you still need separate accounting software
- Partnerships, LLPs, charities and non-UK businesses cannot open an account
- Cash deposits cost £1 each and are capped
- Reviews report frozen accounts and slow resolution, and there is no dedicated account manager
Not sold on either?
Frequently Asked Questions
Monzo Business scores higher on our Finance Software criteria: 6.5/10 against 5.9/10 for BooksTime. The largest gap is in Cost: 5/10 for BooksTime and 8/10 for Monzo Business.
Monzo Business has a free plan; BooksTime does not list one.
BooksTime has Financial Reporting, General Ledger, Multi-currency and 1 more feature that Monzo Business lacks.
