Bokio vs Monzo Business: Complete Comparison (2026)
An in-depth comparison of Bokio and Monzo Business to help you choose the right tool for your business.
Last updated: November 2026
Bokio
5.6/10
Swedish cloud accounting service for sole traders and small limited companies, covering bookkeeping, invoicing, payroll, VAT reporting and an integrated business account.
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 | 5.6/10 | 6.5/10 |
| Analytics | 4/10 | 4/10 |
| Compliance | 7/10 | 7/10 |
| Cost | 5/10 | 8/10 |
| Customization | 4/10 | 4/10 |
| Ease of Use | 8/10 | 9/10 |
| Integration | 5/10 | 6/10 |
| Scalability | 3/10 | 3/10 |
| Security | 6/10 | 7/10 |
| Support | 5/10 | 6/10 |
| Pricing | ||
| Free plan | No | Yes |
| Cheapest paid plan | SEK 319/mo Basic | £9/mo Pro |
| Estimated cost for 10 users | SEK 319/mo Basic | £25/mo Team |
| Features | ||
| Financial Reporting | ||
| General Ledger | ||
| Payroll | ||
| Accountant Access | ||
| Expense Management | ||
| Invoicing | ||
| Tax Compliance | ||
| Bank Reconciliation | Not listed | |
| Corporate Cards | Not listed | |
| Multi-currency | Not listed | |
| Online Payments | Not listed | |
Bokio vs Monzo Business cost by team size
| Team size | Bokio | Monzo Business |
|---|---|---|
| 1 user | SEK 319/moBasic | £9/moPro |
| 5 users | SEK 319/moBasic | £25/moTeam |
| 10 users | SEK 319/moBasic | £25/moTeam |
| 25 users | SEK 319/moBasic | FreeLite |
| 50 users | SEK 319/moBasic | 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 Bokio
- Includes Financial Reporting, which Monzo Business lacks
- Includes General Ledger, which Monzo Business lacks
- Includes Payroll, which Monzo Business lacks
Why choose Monzo Business
- Has a free plan (Bokio does not)
- Higher Cost score (8/10 vs 5/10)
- Higher Ease of Use score (9/10 vs 8/10)
Pros & Cons
Bokio
Pros
- Bank connection suggests entries and matches incoming payments automatically, which cuts manual bookkeeping for small firms.
- VAT is calculated from the books and the VAT report is generated for Skatteverket, with a choice of monthly, quarterly, or yearly periods.
- Accounting consultants invited via Bokio Byrå count as free users.
- A forum user reports a smooth connection to årsredovisningonline for annual reports.
- Bookkeeping, invoicing, payroll, and a business account with a card come from a single vendor.
Cons
- The free plan was removed in September 2023 at short notice, which angered long-time users.
- Users and a Capterra reviewer call it expensive, at roughly 500 SEK per month with two employees.
- Many functions are paid extras, including extra users, Swish, e-invoices, advanced payroll, and the annual report.
- A forum user reports, secondhand and unverified, that payroll reporting cannot handle parental leave or VAB.
- It is focused on Sweden and suits only small businesses.
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 5.6/10 for Bokio. The largest gap is in Cost: 5/10 for Bokio and 8/10 for Monzo Business.
Monzo Business has a free plan; Bokio does not list one.
Bokio has Financial Reporting, General Ledger and Payroll, which Monzo Business lacks.
