Sole Tank
Everything you need to know about managing your sole trader income and expenses.
20 articles
Sole Trader Setup & Business Details
Set up and manage your sole trader business in TaxTank with easy guides for GST, logos, and prior year losses.
How to add a businessLearn how to add your sole trader business seamlessly in TaxTank to streamline your tax management.
How to add a business logoEnhance your business profile by adding a logo in TaxTank to personalise your invoices.
Logo size requirements for InvoicesEnsure your logo meets the required 150px x 150px size with 20px margins for optimal display across the platform and in your invoices.
How to edit your Sole Trader business detailsLearn how to edit your Sole Trader business details in TaxTank with simple steps to update your info and avoid errors.
How to update your GST registration statusLearn how to update your GST registration status in TaxTank and ensure compliance for all your businesses.
How to add your sole trader business losses from prior yearsLearn how to add sole trader business losses from previous years in TaxTank to maximise your deductions and optimise your tax reporting.
Income & Expense Management
Learn how to track income, add non-invoiced earnings, and claim deductions like home office use in Sole Tank.
How to add sole trader income without an invoiceLearn how to add sole trader income without using the invoice functionality in TaxTank.
What income categories are available for invoices in Sole TankLearn the income categories available to cover all your business earnings in Sole Tank.
How to use the home office diary as a Sole TraderLearn how to track your home office hours and expenses using the digital home office diary in Sole Tank.
How to use the logbook feature as a sole traderLearn how sole traders can use the TaxTank logbook to track car use and claim vehicle expenses.
When do Sole Tank invoice amounts show in the Tax Summary?Learn how TaxTank ensures accurate financial reporting by showing invoices when payments are received, aligning with cash basis principles.
Invoicing
Learn how to streamline your invoicing process and ensure timely payments from clients with TaxTank.
How to create an invoice templateLearn to create customised invoice templates tailored to your sole trader business needs and enhance professionalism and efficiency.
How to reconcile invoices using the find and match featureLearn how to reconcile invoices efficiently using TaxTank's find and match feature to streamline your reconciliation process.
How automated invoice matching worksExplore how automated invoice matching works in TaxTank. Save time and effort by automating your invoice reconciliation process effectively.
How to edit or add payers for invoicesLearn how to edit or add payers and contacts for invoices in Sole Tank.
How to include fees or deductions in an invoiceLearn how to include deductions or fees on your invoice to match the payment or bank transaction amount received.
How to apply a discount or commission expense on an invoiceLearn how to apply a discount or commission expense on an invoice in TaxTank using negative line items for accurate deductions.
How to resend an invoice in Sole TankLearn how to quickly resend an invoice in Sole Tank with just a few clicks. Edit, save and send directly from the Invoices tab.
How to add PAYID or other payment details to your invoiceLearn how to add PAYID or payment details to your Sole Tank invoice so clients know exactly how to pay you.
Reporting
Learn now to prepare and manage BAS and other tax reports in TaxTank with simple steps for sole traders.
How to prepare a BAS reportLearn how to prepare a monthly or quarterly BAS for your sole trader business.