Finovo vs FreeAgent, QuickBooks, Lexoffice and Pennylane: which is right for your European business?

The market at a glance

FreeAgent

FreeAgent is the go-to for UK freelancers and small businesses — particularly popular because it's included free with NatWest and RBS business accounts. MTD VAT filing, self-assessment preparation, and UK payroll are solid.

The gap: UK only. No MTD ITSA support at time of writing. No French or German tax compliance. No multi-currency at entry tier. If your business expands to France or Germany, you'll need a second tool immediately.

Choose FreeAgent if you're UK-only, a sole trader or very small team, and you bank with NatWest/RBS (it comes free with the account).

QuickBooks

QuickBooks (Intuit) is the world's most widely used accounting software. The UK version handles MTD VAT, invoicing, and payroll (add-on). The ecosystem of accountants and apps integrated with QuickBooks is unmatched.

The gap: European tax compliance — DGFiP and ELSTER — is not supported. Multi-currency is available but at higher tiers. The interface is functional but not the most modern.

Choose QuickBooks if your accountant already uses it, you're UK-focused, and you need the breadth of the QuickBooks app marketplace.

Lexoffice

Lexoffice (by Haufe) is Germany's leading cloud accounting tool for small businesses. ELSTER UStVA filing, DATEV export, ZUGFeRD/XRechnung e-invoicing, and GoBD-compliant archiving are all well-implemented.

The gap: Germany only. No MTD, no DGFiP, no UK or French compliance of any kind. If your business has any UK or French operations, Lexoffice cannot serve them.

Choose Lexoffice if you're a German-only business and your Steuerberater is already in the DATEV ecosystem.

Pennylane

Pennylane is the fastest-growing accounting platform in France, built with a modern UX and strong integration with French accountancy practices. TVA/CA3 filing, Chorus Pro, Liasse Fiscale export, and payroll are all covered.

The gap: France-primary. UK and German compliance are not supported natively. Pricing is pitched at practices as well as businesses — entry price is higher than the other tools here.

Choose Pennylane if you're a French business working with a French cabinet comptable that already uses Pennylane.

Finovo

Finovo is the only platform built for all three markets from day one.

What's included in one subscription: - UK: MTD VAT, MTD ITSA, CIS, BrightPay payroll sync, GBP/EUR - France: TVA/CA3 via DGFiP, Chorus Pro, Factur-X, DSN payroll - Germany: UStVA via ELSTER/ERiC, ZUGFeRD/XRechnung, DATEV export, GoBD

Honest limitations: no native RTI payroll engine (BrightPay sync for UK payroll), iXBRL statutory accounts not yet in-app (accountant export path is supported). Very large enterprise requirements may need specialist tools.

Pricing

Finovo's Professional tier includes multi-country compliance, payroll sync, and multi-currency — comparable to running QuickBooks (UK) + Lexoffice (DE) + Pennylane (FR) separately, at a fraction of the combined cost.

Try Finovo free for 60 days on the Professional plan — no card required.