FINALLY… Something Built Just for One-Person Businesses.
Running a business on your own is no small effort. As a sole trader, you’re not just the technician doing the work — you’re also the receptionist, bookkeeper, admin team, marketing department, and everything in between. You wear every hat, juggle every task, and somehow try to stay on top of paperwork, invoices, receipts, and the never-ending admin that comes with running a business in Australia.
That’s why the launch of Solo by MYOB is such a game changer for sole traders. Unlike traditional accounting software that’s built for teams or larger operations, Solo has been designed specifically for one-person businesses — tradies, freelancers, mobile operators, creatives, consultants, side-hustlers, and anyone who runs the show on their own.
If you’ve ever felt like accounting apps were too complicated, too expensive, or simply too “big” for what you actually need, Solo fills that gap perfectly.
What Solo by MYOB Actually Does (and Why It Matters)
Solo keeps business admin simple, fast, and in one place — all from your phone. Here’s a breakdown of its key features and why they matter for sole traders in particular:
✓ Create Invoices in Seconds
No more waiting until you get home to send an invoice. With Solo, you can:
- send invoices directly from your phone
- track when a client opens it
- set up automated payment reminders so you don’t have to chase
Faster invoices = faster payments. And when you work alone, cash flow is everything.
✓ Snap, Save & Sort Your Receipts
Instead of keeping a shoebox full of faded receipts:
- take a photo
- let Solo automatically match it to the right expense
- store everything securely in the app
This is a lifesaver at tax time — especially for sole traders who have to track every deduction.
✓ Keep All Your Money in One Place
You can link your existing bank account or open a Solo Money account right in the app. This gives you:
- automatic bank feeds
- real-time transaction tracking
- a clearer picture of what you actually earn (not just what hits the bank)
For sole traders with fluctuating income, this financial visibility is huge.
✓ Get Paid Faster
Solo includes Tap to Pay directly from your smartphone. No terminals, no rental fees — just your phone. Clients can also pay online through your invoices.
Anything that reduces the friction of getting paid is a win.
✓ GST, BAS & Cash Flow Insights
Solo automatically calculates GST on your income and expenses. You can see:
- how much GST you owe
- what your cash flow looks like
- your business finances at a glance
Perfect for new sole traders who are still getting confident with their tax obligations.
Why Solo Is Such a Big Deal for Sole Traders
Time is the biggest killer for one-person businesses — and there are thousands of sole operators across Australia who lose hours each week to admin. Every minute spent chasing invoices or sorting receipts is time not spent earning money or enjoying your life.
Solo gives that time back!
It’s lightweight, simple, and built to run on your phone because that’s where most sole traders work from anyway — on the road, on site, or between jobs. You don’t need an accounting degree to use it. You don’t need to migrate a huge system. You just download it and start running your business more easily.
A Stepping Stone That Grows With You
One of the smartest things MYOB has done is make Solo an entry point. When your business grows — maybe you hire your first employee, need payroll support, or want more advanced reporting — you can upgrade to a bigger MYOB plan without starting over.
That means:
- no rebuilding accounts
- no exporting/importing data
- no messy software transitions
It’s a smooth path from sole trader to small business.
Is MYOB Solo Worth It?
If you’re working solo and still relying on spreadsheets, notes on your phone, or a pile of paper receipts, Solo is absolutely worth trying. It won’t magically run your business for you, but it will remove a lot of the stressful admin that eats into your time and energy.
Think of it as a solid foundation — something that keeps your finances organised, your payments flowing, and your admin simple while you focus on the work that actually matters.
For sole traders, that’s exactly what’s needed.
Ready to Get Your Sole Trader Finances Under Control? Can Help
If you’re thinking about switching to MYOB Solo or you’re unsure how to get the most out of it for your business, the accountants near you – IQ Accountants is here to make the process easy.
We help sole traders streamline their bookkeeping, stay compliant, and understand their numbers — without the stress.
Whether you need help setting up Solo, navigating GST, preparing for tax time, or planning for the next stage in your business growth, our team is ready to support you. Call 07 5576 0011 today.
