Creating an invoice can often be a tedious task, but with TaxTank, we simplify the process by providing a comprehensive list of income and expense categories. These categories are seamlessly mapped to your business schedule and tax summary, ensuring that you capture every detail needed for accurate tax reporting.
Income Categories
TaxTank offers a wide array of income categories to cover all your business earnings, including:
Sales
Labour
Uber Income
Commission
Parts & Consumables
Interest Earned
Other Business Income
Assessable Government Payments
Gross Payments (no ABN given)
Gross Payments (Voluntary Agreement)
Gross Payments (Labour hire)
Other Assessable Payments
PSI - Labour Hire
PSI - Voluntary Agreement
PSI - ABN not Quoted
These categories ensure that no matter how diverse your income streams, everything is neatly categorised and ready for tax time.
You can also add deductions and fees to your invoices if you need to account for a variance on payments received.