Novo offers a free business checking account with no monthly fees or minimum balance, plus free customizable invoicing, budgeting tools (Reserves), Novo Boost for faster Stripe payouts, and integrations with common business apps. For solo and small therapy practices it is a no-cost banking option with built-in money tools. Not a PHI tool.
Accounting & TaxVerified June 2026
Novo
Free business checking with invoicing and budgeting for small practices.
About Novo
What Novo does
The features that actually matter for therapy practice.
Free business checking
Free customizable invoicing
Budgeting (Reserves)
Faster Stripe payouts (Novo Boost)
App integrations
Honest assessment
What works and what does not, based on hands-on testing.
What works well
- Free with no minimums
- Invoicing and budgeting built in
- Faster Stripe payouts
- Useful integrations
Where it falls short
- Not therapy-specific
- Banking via partner bank
- Limited lending/advanced features
- Not a clinical/PHI tool
FAQ
Common questions about Novo
- What is Novo best for?
- Free business checking with invoicing and budgeting for small practices.
Alternatives
Other tools in Accounting & Tax
Bench
Generic bookkeeping with human team used by some therapists.
From $299/moUnverified
FreshBooks
Invoicing-first accounting popular with service-based solo practitioners.
From $19/moUnverified
Heard
Bookkeeping and taxes built specifically for therapists.
From $149/moUnverified
Traktion Accounting
Hands-on accountant team for established therapy practices.
PaidUnverified
Side-by-side
Compare Novo with another option
Novo vs Bench
Generic bookkeeping with human team used by some therapists.
Read comparisonNovo vs FreshBooks
Invoicing-first accounting popular with service-based solo practitioners.
Read comparisonNovo vs Heard
Bookkeeping and taxes built specifically for therapists.
Read comparisonNovo vs Traktion Accounting
Hands-on accountant team for established therapy practices.
Read comparison