Hello from Sayu CPA Office!

Welcome to the second installment of my personal review series on cloud-based accounting software. After using these tools for a few months, I’d like to share a function-by-function comparison based on what I’ve learned through actual bookkeeping experience. While there are many cloud accounting options available, this post will focus on the two I use most frequently: freee and Money Forward (MF).

This Time’s Focus: Registering Transactions via Bank Integration

One major advantage of cloud accounting software is the ability to automatically import transaction data through integrations with online banking or credit cards. However, the workflow from importing to actually registering these transactions differs depending on the software. Here’s how freee and Money Forward compare.
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freee

In freee, all imported transaction data from linked bank accounts appears on the “Automatic Bookkeeping” screen. The first time you import data, freee’s AI will try to guess the appropriate accounting category. You could register the transaction as suggested, or manually adjust it if incorrect—but the real key to efficient use lies in setting up automated registration rules.

Before registering a transaction, you can open the detail screen, adjust the content, and check the box labeled “Save as an auto-registration rule.” From then on, when a similar transaction comes in, freee will automatically pre-fill the data—or even register it outright.

While Money Forward offers a similar feature, freee stands out with its ability to fully register certain transactions automatically. This is particularly helpful for repetitive items like bank transfer fees. For example, you can create a rule saying, “If the transaction memo is ‘fee’, classify it as ‘Bank Fees’ and register automatically.” This eliminates the need to manually approve the same entries over and over.

This feature is also great for regular expenses like rent or utilities. Once automated, the “Automatic Bookkeeping” page will only show irregular transactions, greatly reducing the amount of manual work. (Of course, if you prefer to review transactions before registering them, you can opt to only have freee “guess” the category.)

That said, freee’s automation setup becomes a bit tricky when a single transaction involves multiple categories—for example, if you purchase both raw materials and office supplies from the same vendor. In these cases, you’ll first need to create a transaction template, then apply it through a rule—essentially a two-step process.

One example I encounter often is paying freelancers: these usually involve both a gross fee and withholding tax, requiring two categories (e.g., “Professional Fees” and “Withheld Taxes”). Setting this up takes extra effort, so I’m hoping future updates will make it easier to create rules involving multiple entries.
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Money Forward (MF)

With Money Forward, the main interface also revolves around imported bank transactions, shown as a straightforward list. The design is simpler than freee’s, which some users with accounting experience may find clearer.

The interface includes text boxes for manual edits, but I’ve noticed some editable fields (like transaction dates or payee descriptions) probably don’t need to be changed—and making them editable could lead to accidental edits or confusion.

That said, once you understand which fields to focus on, the list format allows for very efficient input. One feature I particularly appreciate is how recently registered transactions temporarily stay at the bottom of the screen (as long as you don’t refresh or switch pages), which makes it easy to spot and fix mistakes right away.

Another strength is that all transactions—whether entered manually or via bank feeds—are registered in the same way, making post-registration management and corrections much easier.

Money Forward also lets you create rules to auto-fill categories based on transaction details. A standout feature here is the ability to create rules for multi-line journal entries—whether it’s two lines or more, you can set up and manage rules just like single-line ones. This is more flexible than freee in that regard.

However, there’s one catch: rules can be unintentionally overwritten during registration. For example, let’s say you usually purchase materials from Vendor A and have a rule to classify their payments under “Material Costs.” One month, you happen to buy office supplies instead and change the guessed category to “Office Supplies.” Unfortunately, this will overwrite the existing rule—and from then on, all Vendor A payments will default to “Office Supplies,” even when that’s not appropriate. These one-off deviations are common, so I really wish the rules wouldn’t update automatically without user intent.

Another downside is that Money Forward doesn’t offer fully automatic registration like freee does. You still need to manually approve and register each transaction, even repetitive ones like bank fees. Yes, there is a bulk registration feature using checkboxes—but after checking box after box, you may find yourself wishing the system could just auto-register simple transactions. Hopefully this will be addressed in future updates.
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Final Thoughts

So there you have it—a comparison focused specifically on the transaction registration process via bank integration. From my personal perspective, freee feels easier to use in this area. The two biggest reasons are: Simple, repetitive transactions can be automatically registered. Once you create a rule, it stays in place unless you intentionally change it.

If your company deals with a lot of routine transactions, freee can make bookkeeping noticeably less tedious. On the other hand, if you have many unique or one-time transactions (such as frequently changing clients or vendors), setting up rules may not be worth the trouble. In such cases, Money Forward’s list view and simple structure might be a better fit.

At Sayu CPA Office, we offer support for implementing cloud-based accounting solutions like these. We can also help you compare them with traditional installed software like Yayoi. If you’re thinking about adopting new accounting software, please don’t hesitate to reach out for a consultation.