Accounted vs Mettle: Business Banking and Bookkeeping

Introduction

Mettle is NatWest's free digital business bank account, designed for sole traders and freelancers. It comes with built-in invoicing and basic bookkeeping features, making it an attractive all-in-one option for those just starting out. But how does it compare to a dedicated bookkeeping platform like Accounted?

This comparison looks at both platforms honestly. Mettle has genuine strengths, particularly around cost, but there are meaningful differences in what each platform is designed to do.

What Mettle Actually Is

It is important to understand that Mettle is primarily a business bank account with bookkeeping features bolted on, rather than a bookkeeping platform with banking. This distinction matters because it shapes what each tool does well.

Mettle gives you a free business current account, a debit card, invoicing, receipt capture, and basic categorisation of your transactions. It is backed by NatWest, which provides reassurance on the banking side.

Accounted, by contrast, is a dedicated bookkeeping and tax management platform. It connects to your existing bank accounts through Open Banking but does not replace them. Its focus is entirely on keeping your books accurate and your tax affairs in order.

Pricing

Mettle's biggest advantage is price: it is completely free. No monthly fees, no transaction charges for standard use. For a sole trader watching every penny, that is genuinely appealing.

Accounted starts at £14 per month on the Starter plan. You can review all our plans on the pricing page. The cost reflects the depth of features, particularly the AI bookkeeping, MTD compliance, and tax intelligence that a dedicated platform provides.

Bookkeeping Capabilities

Mettle offers basic transaction categorisation. You can tag transactions and sort them into categories. It is functional for very simple businesses but lacks the depth needed for accurate tax reporting.

Accounted uses Penny, an AI bookkeeper that automatically categorises transactions using a three-tier reasoning system. She learns your patterns, applies HMRC-compliant categories, and handles receipt matching automatically. When she categorises something with high confidence, it happens without you lifting a finger. When she is less certain, she asks you via WhatsApp.

MTD Compliance

Mettle does not currently offer direct MTD filing. You would need to export your data and use a separate MTD-compatible tool to file your VAT returns or Self Assessment.

Accounted is fully MTD-compliant with direct HMRC integration. You can file VAT returns and Self Assessment directly from the platform. As MTD for Income Tax rolls out, Accounted is built to handle quarterly reporting requirements without additional tools.

Receipt Management

Mettle lets you photograph receipts through its app and attach them to transactions. It is a straightforward process but requires you to open the Mettle app specifically.

Accounted handles receipts through WhatsApp. Snap a photo, send it to Penny, and she extracts the details, categorises the expense, and matches it to the corresponding bank transaction. You can also forward digital receipts to your Receipt Magnet email address. Both methods work within tools you already use daily.

Invoicing

Mettle includes basic invoicing. You can create and send invoices, and payments into your Mettle account are automatically matched. For simple invoicing needs, it works well.

Accounted's invoicing capabilities are currently being developed. If basic invoicing is your primary requirement and you want it free, Mettle has a clear advantage here.

Tax Features

This is where the gap between a banking app and a bookkeeping platform becomes most apparent. Mettle does not calculate your tax liability, does not track your tax position throughout the year, and does not alert you to approaching thresholds.

Accounted provides proactive tax intelligence. Penny monitors your income against tax thresholds, warns you about approaching the VAT registration threshold, identifies potential tax reliefs, and keeps a running estimate of your tax liability. For sole traders who have been caught out by unexpected tax bills, this alone can justify the subscription cost.

Bank Feeds

Mettle only shows transactions from your Mettle account. If you have other bank accounts, business credit cards, or savings accounts, those are not included.

Accounted connects to virtually any UK bank account through Open Banking via TrueLayer. You get a unified view of all your business finances regardless of where you bank. This is particularly valuable if you use a personal account for some business transactions or have multiple accounts.

Cash Flow Forecasting

Mettle offers a basic view of your account balance and recent transactions. It does not forecast future cash flow.

Accounted provides 90-day cash flow forecasting that factors in expected tax payments, recurring expenses, and seasonal patterns. It warns you in advance if a tax payment might cause a cash shortfall.

CIS and Construction

Mettle has no CIS support. If you work in construction, you would need separate tools for CIS deduction tracking and monthly returns.

Accounted includes a dedicated CIS module with contractor verification, deduction calculations, monthly return filing, and integration with your Self Assessment.

Who Should Choose Mettle

Mettle is a good choice if you are just starting out and want a free business bank account, if your bookkeeping needs are very simple (a handful of transactions per month), if you are comfortable handling MTD filing separately, or if you want banking and basic bookkeeping in one free app.

Who Should Choose Accounted

Accounted is the better choice if you want your bookkeeping handled automatically by AI, if you need MTD compliance built in, if you want proactive tax monitoring and alerts, if you have multiple bank accounts or use personal accounts for business, if you work in construction and need CIS support, or if you want accurate tax estimates throughout the year.

Can You Use Both?

Absolutely. Many sole traders use Mettle as their business bank account and connect it to Accounted through Open Banking. You get the free banking from Mettle and the intelligent bookkeeping from Accounted. This is actually a popular combination.

The Bottom Line

Mettle and Accounted serve different purposes. Mettle is a free business bank account with basic bookkeeping features. Accounted is a comprehensive bookkeeping and tax platform powered by AI. Comparing them directly is a bit like comparing a Swiss Army knife to a full toolbox. The Swiss Army knife is handy and free, but when you need serious tools, the toolbox is what you reach for.

If your business is growing beyond basic record-keeping, sign up for Accounted and let Penny turn your bookkeeping from a chore into something that just happens.