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Accounting · head to head

Modern Treasury vs sevdesk

Modern Treasury logo

Modern Treasury

Accounting

Payment operations and ledger infrastructure that sits between your product and your own bank accounts

From
On request
Rated
-
Full reviewWebsite
sevdesk logo

sevdesk

Accounting

German accounting and invoicing software for small businesses and freelancers

From
Free
Rated
-
Full reviewWebsite

The short version

  • Only sevdesk has a free tier, so it costs nothing to try first.
  • Each has a real cost: Modern Treasury you must already have or be able to obtain your own bank accounts with the right connectivity, so early stage companies without a banking relationship cannot use it and are pushed towards a sponsor bank model instead.; sevdesk the free Kostenlos plan caps invoices and e-invoices at just 3 per month, forcing an upgrade to the Rechnung plan for unlimited invoicing
  • Prices and features above were last checked on 31 August 2026.

Where they differ

Only the attributes on which Modern Treasury and sevdesk actually diverge.

Attributes where Modern Treasury and sevdesk differ
AttributeModern Treasurysevdesk
Starting priceOn requestFree
Pricing modelquotefreemium
Free tierNoYes

Identical on both: platforms (Web), user rating (Not yet rated), category (Accounting).

What each one covers

Drawn from each product's published feature list. An absence here means we hold no record of it - not that the product lacks it.

Only in Modern Treasury

  • Multi-rail payment initiation
  • Bank connectivity
  • Ledgers
  • Automatic reconciliation
  • Approval workflows
  • Virtual accounts
  • Compliance tooling
  • Return and exception handling

Only in sevdesk

Nothing recorded that Modern Treasury does not also cover.

What people use each for

The jobs each tool is most often brought in to do.

Modern Treasury

  • A marketplace paying out to thousands of sellers that needs a ledger its application can trust rather than reconciling a payments dashboard by handnot sevdesk
  • A lender originating and servicing loans that must track disbursements, repayments and returns against its own bank accountsnot sevdesk
  • A company that wants to move off a banking as a service provider and hold its own bank accounts after seeing sponsor banks offboard fintech programmesnot sevdesk
  • An insurer handling premium collection and claims payment across several rails with approval controls and an auditable trailnot sevdesk

sevdesk

  • Scanning receipts via mobile app and matching to transactionsnot Modern Treasury
  • Creating VAT advance returns and filing with tax authoritiesnot Modern Treasury
  • Generating XRechnung format invoices mandatory for B2B by 2025not Modern Treasury
  • Recording bank transactions automatically across 4000+ supported banksnot Modern Treasury
  • Managing unlimited invoices with automatic sales tax calculationsnot Modern Treasury

Where each one falls short

Documented limitations, not opinions. Every one is a constraint you would hit in normal use.

Modern Treasury

  • You must already have or be able to obtain your own bank accounts with the right connectivity, so early stage companies without a banking relationship cannot use it and are pushed towards a sponsor bank model instead.
  • Pricing rests on an annual minimum commitment, and companies that miss their volume forecast pay the minimum regardless, which makes the headline per-transaction rate close to irrelevant in year one.
  • Supported bank connectivity is a finite list, so if your bank is not on it you are either waiting for an integration or changing banks, which is a far larger project than adopting the software.
  • It is software over banking, not banking, so it does not solve card issuing, deposit accounts or the licensing questions that a company embedding financial products still has to answer elsewhere.
  • The ledger is genuinely good but adopting it properly means making it the source of truth for balances in your product, which is a significant application change rather than a payments integration and is where implementations run long.

sevdesk

  • The free Kostenlos plan caps invoices and e-invoices at just 3 per month, forcing an upgrade to the Rechnung plan for unlimited invoicing
  • API access and cost center tracking are reserved for the top Buchhaltung Pro tier at EUR 13.95 to EUR 34.90/month depending on commitment length, not included in the mid-tier Buchhaltung plan

Pricing, plan by plan

Modern Treasury

On request
  • Modern Treasury Platform$undefined/year
    • Platform access fee covering API, dashboard, infrastructure and support
    • Usage-based fees across ACH, wires, RTP, FedNow, push to card, cheques and stablecoins
    • A single annual minimum commitment that both platform and usage fees count towards

sevdesk

Free
  • FreeFree
    • Permanently free with no credit card required
    • Up to 3 invoices/e-invoices monthly
    • Unlimited contact creation
  • Rechnung (Invoice Plan)$11.9/month
    • Regular: €11.90/month, discounted to €4.45/month on 24-month term
    • Unlimited invoices, offers, e-invoices, and payment reminders
  • Buchhaltung (Accounting Plan)$25.9/month
    • Recommended plan
    • Regular: €25.90/month, discounted to €9.95/month on 24-month term
    • Bookkeeping features, AI-powered receipt capture, tax filing
  • Buchhaltung Pro (Accounting Pro)$34.9/month
    • Regular: €34.90/month, discounted to €13.95/month on 24-month term
    • Cost center analysis, REST-API access, business financial analysis (BWA)

Which should you pick?

Choose Modern Treasury if

  • You need multi-rail payment initiation.
  • You also want bank connectivity.
Modern Treasury review

Choose sevdesk if

  • You want to start without paying.
sevdesk review

Questions people ask

Is Modern Treasury or sevdesk better?
Neither clearly leads. Modern Treasury starts at On request and sevdesk at Free, and user ratings are close enough to be indistinguishable. Choose on capability and platform support.
Which is cheaper, Modern Treasury or sevdesk?
sevdesk has a free tier; the other does not. Paid plans start at On request for Modern Treasury and Free for sevdesk.
Does Modern Treasury or sevdesk run on more platforms?
Both run on Web, so platform support will not decide this one for you.
Can I use sevdesk for free?
Yes. sevdesk has a free tier, so you can try it without paying. Modern Treasury starts at On request.
What is Modern Treasury best used for?
Modern Treasury is most often used for a marketplace paying out to thousands of sellers that needs a ledger its application can trust rather than reconciling a payments dashboard by hand, a lender originating and servicing loans that must track disbursements, repayments and returns against its own bank accounts, a company that wants to move off a banking as a service provider and hold its own bank accounts after seeing sponsor banks offboard fintech programmes, an insurer handling premium collection and claims payment across several rails with approval controls and an auditable trail. Of those, a marketplace paying out to thousands of sellers that needs a ledger its application can trust rather than reconciling a payments dashboard by hand and a lender originating and servicing loans that must track disbursements, repayments and returns against its own bank accounts are not what sevdesk is typically brought in for.
What can Modern Treasury do that sevdesk cannot?
Modern Treasury covers Multi-rail payment initiation, Bank connectivity, Ledgers, Automatic reconciliation.

Answered from the vendors’ own pages

Modern Treasury: Is Modern Treasury a bank or a banking as a service provider?

Neither. You hold your own bank accounts and it is software over them. That avoids sponsor bank concentration risk but means you need the bank relationship yourself.

sevdesk: How much does sevdesk cost?

sevdesk offers a free plan and three paid tiers. Invoice Plan starts at €11.90/month (€4.45/month on 24-month), Accounting Plan at €25.90/month (€9.95/month on 24-month), and Accounting Pro at €34.90/month (€13.95/month on 24-month).

Source
Modern Treasury: What does it cost?

Not published. A platform access fee plus usage fees across rails, on an annual term with a single minimum commitment. Negotiate the minimum, not the per-transaction rate.

sevdesk: What is included in sevdesk's free plan?

The free plan allows creation of up to 3 invoices/e-invoices monthly, unlimited contact creation, and access to support materials. No credit card is required.

Source
Modern Treasury: Which rails are supported?

ACH, wires, RTP, FedNow, push to card, cheques and stablecoin payments, subject to what your bank supports.

sevdesk: What add-ons are available for sevdesk?

sevdesk offers optional add-ons priced €3.90-€19.90/month including premium layouts, additional users, inventory management, and time tracking. Premium services such as setup consultations start at €24.90.

Source
Modern Treasury: Do we still need our own compliance programme?

Yes. KYB, KYC and transaction monitoring are included in the platform, but you are the one holding the accounts and the regulatory obligation sits with you and your bank.

sevdesk: Does sevdesk offer a promotional discount?

Yes, sevdesk advertises up to 50% discount through a time-limited Black Cyber Deal offering 60% off all plans. Additionally, all paid plans include 24-month term options with significant savings (up to 62% discount).

Source
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