Digital Bank Revolut has integrated with Clear Books the cloud-based accounting system. The feature will enable Revolut’s more than 400,000 business accounts to seamlessly view and manage reports and track expenses and bills. Clear Books will now sit alongside Xero, Slack, FreeAgent, Zapier and other product integrations in the Revolut Business Connect ecosystem Clear Books’ secure bank feeds will batch update up to 4 times daily with the most recent transactions.
Revolut Business customers may also set up smart rules for automatic allocation, allowing them to match repeating transactions. Customers can ensure that their business and tax reporting is accurate by setting up a bank feed between their UK Revolut Business accounts and Clear Books. All financial data is said to be automatically compiled into reports including a P&L, Balance Sheet, Aged Debtors, and Creditors, as well as HMRC recognized MTD VAT returns.
Revolut CEO and co-founder Nik Storonsky recently explained that his vision is to create a “financial super App” that will be highly personalized to each users needs – driven by individual actions and circumstances. All “beautifully interconnected.”