In light of Australian businesses spending an average of 81 workdays per year on time-consuming tasks like invoicing, tax payments, and reconciling accounts, Sole App has launched a handy new calculator to help sole traders and small business owners cut down on admin time and take better control of their finances.
Sole App founder and director Johann Oberholzer says, “Financial admin can end up costing businesses thousands in terms of lost time spent on invoicing, tax, and other admin. Small business owners who are able to regain control over their time and finances with smart digital tools and platforms are able to optimise expenses and productivity, and get back to doing what they do best.”
It’s estimated that microbusinesses can spend up to 14% of their turnover on administration which in turn significantly impacts profitability. Invoicing, quotes, chasing money, preparing for tax time, and reconciling accounts are some of the time-consuming and hated tasks for business owners who would rather spend their time on revenue-generating activities.
What does the Sole App business calculator do?
Sole App’s specially designed calculator makes life easier for sole traders and small business by:
- Analysing how much time business owners are spending on financial admin.
- Offering personalised insights on how much business owners should be spending to run their business efficiently.
- Identifying areas where they may be overspending on financial platforms and services to reduce unnecessary expenses.
- Freeing up valuable time to focus on growing their business instead of getting lost in paperwork.
Johann says, “With the Sole App business calculator, business owners can assess how to have simple, efficient ways to evaluate, optimise, and streamline their financial processes. Small business owners tend to operate on slim margins so every little bit of help counts to help them build a sustainable and profitable business. We encourage business owners to make full use of Sole’s tools and resources to build a better and stronger business today. ”
“Ultimately, our calculator is an example of how automating your accounting can save you time and money, so sole traders and business owners can spend more time on growing the business.”
To access the calculator, visit – Time Saver Calculator | Sole Accounting App