Mettle, NatWest’s business account for SMEs and sole traders is partnering with accounting software provider FreeAgent to enable real-time syncing.

The new feature uses API technology to share data between the two platforms, which NatWest said is an improvement on the existing capability that uploads transactions between a customer’s business account and their accountancy software.

The service allows for real-time bookkeeping,for customers using both services, ensuring that transaction categories and receipts are kept up to date in tandem.

As part of the sync-up, customers can use this feature to categorise expenditure and upload photos of their receipts on the go within the Mettle app, and this info will be shared automatically with FreeAgent.

To make use of the service, existing Mettle customers with an active FreeAgent connection will see their categories and receipts sync automatically and don’t need to do anything to use this new feature, whilst new customers will need to connect an existing FreeAgent account or register for FreeAgent through the Mettle app.

The expansion of the partnership between the two brands is aimed at introducing shared features that make it simpler and easier for self-employed entrepreneurs to run and grow their business. Mettle recently conducted research that showed there are over five million self-employed people in the UK, who are set to contribute over £125 billion to the UK economic recovery in 2021.

Ken Johnstone, Chief Product Officer, Mettle said: “We are delighted to extend our partnership with FreeAgent further by offering truly simple, real-time bookkeeping to our customers. Mettle and FreeAgent have a shared aim to help the UK’s small business community run and grow by providing an effortless banking and accounting experience, powered by integrations and partnerships. We’re continuing to work closely with FreeAgent to offer one of the most compelling business banking offerings available in the UK.”

Mettle is offered free of charge to all eligible UK customers, and is available to sole traders with a turnover of up to £50,000 annually, or limited companies with a turnover of up to £100,000. Its customers receive free access to FreeAgent, which typically costs around £150 a year.

Roan Lavery, CEO and co-founder of FreeAgent said: “With the launch of the real-time sync feature in partnership with Mettle, we are excited to take the next step in helping small businesses and freelancers save time and money."

He added: "The pandemic accelerated the move to doing everything, including accounting, online. This, combined with digital initiatives such as MTD (Making Tax Digital), will see fully automated processes for small businesses and sole traders become the new normal.”

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