Accounting for Sole Traders
Registration, bookkeeping, BAS and your annual return handled for you, with advice on pricing, cash flow and when to incorporate.
As a sole trader, your business income is part of your personal tax return, and you carry the business risk personally. We keep your records and lodgements on track and help you understand the numbers, so you can focus on your work.
Services You Can Use
Starting Out
ABN, GST, business name and accounting software set up correctly.
View detailsBookkeeping
Monthly records kept current in SYNE One.
View detailsBAS and Tax Returns
Quarterly BAS, PAYG instalments and your annual return.
View detailsPricing and Cash Flow
Set prices that cover your costs and plan for tax and quiet months.
View detailsMoving to a Company
Know when incorporating makes financial sense.
View detailsYour First Employee
Payroll, super and Single Touch Payroll from the first pay run.
View detailsSecure Systems
Set up email, devices and cloud accounting securely from day one.
View details
Solutions You Can Use
Connected SYNE platforms, set up and supported by our team.
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Accounting & Financials
SYNE One
Invoicing, bank reconciliation, receipt capture and BAS-ready reports in one place, kept current by your SYNE accountant.
Explore SYNE One -
Your secure client space
My SYNE
Share documents, approve lodgements and see your deadlines without chasing emails.
Explore My SYNE
Taking on your first employee? SYNE People handles payroll, leave and Single Touch Payroll from the first pay run.
Benefits You Get
What changes when SYNE looks after your finances.
Hours Back Every Month
Bookkeeping, reconciliations and BAS handled for you, so evenings go back to clients or family.
Know What to Set Aside
Clear guidance on how much to keep for GST and income tax, so the bill is never a surprise.
Get Paid Faster
Professional invoicing and simple follow-up of overdue accounts in SYNE One.
Price With Confidence
See your real margins and set prices that cover costs and your time.
Ready to Grow
Advice on when to register for GST, hire, or move to a company structure.
Fixed, Predictable Fees
One monthly fee from $99 AUD, agreed before work begins.
Value You Can Create
Savings in time and money, and costs you avoid.
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53%
Less Time on Admin
The average admin time saved by businesses on SYNE One, as reported by SYNE.
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Up to $1,650
Per Late Lodgement Avoided
Late BAS and returns can each attract penalties of up to five penalty units ($330 each). We lodge on time.
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From $99
Per Month, All-In
Bookkeeping, quarterly BAS and My SYNE in one fixed monthly fee.
Estimate Your Savings
Adjust the figures to see what less admin could be worth to you.
- Hours Saved a Year
- 138
- Value of Time Saved
- $12,402
- Starter Plan, per Year
- $1,188
- Estimated Net Value
- $11,214
Estimate only. Based on the 53% average admin time saved reported for SYNE One. Your results will depend on your business and how you use it.
Accelerate Your Business
From side hustle to established business, with the right support at each step.
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Stage 1
Start Right
ABN, GST and structure set up correctly, with SYNE One running your books from day one.
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Stage 2
Grow Profitably
Monthly numbers you can act on: pricing, cash flow and when to invest in growth.
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Stage 3
Step Up
Hire your first employee, move to a company and build a business that runs without you doing everything.
Setting Money Aside for Tax
Sole traders do not have tax withheld from their income, so the bill arrives later. A simple habit avoids surprises:
- Open a separate savings account just for tax and GST
- Transfer the GST portion of every payment you receive into it
- Add a percentage of profit for income tax. We will calculate the right figure for you
- Pay PAYG instalments when the ATO issues them, to spread your tax across the year
Pricing: Starter, $99 per month
Monthly bookkeeping, quarterly BAS and access to My SYNE for $99 AUD per month. Tax filing and returns for your business from $499 AUD.
Frequently Asked Questions
Do I need to register for GST?
Once your GST turnover reaches $75,000 a year you must register. Below that it is optional, and registering can make sense if most of your customers are GST-registered businesses.
Can I claim expenses I paid personally?
Yes, if they were incurred in earning your business income and you have records. We will help you identify what you can claim.
When should I become a company?
Usually when profit rises well above your personal needs, when business risk increases, or when you plan to bring in partners. We model it with your figures.
Free consultation
Speak with an Adviser
Book a complimentary 20-minute consultation. We respond within one business day.
- No obligation and no sales script
- A fixed, written quote within two business days
- Qualified professionals who stay with you all year