Free Sole Trader Statement of Account Generator — Australia

Common Statement of Account Line Items for Sole Traders

Here are typical items you might include on a sole trader statement of account:

Typical Sole Trader Pricing in Australia

Rates vary by state and job complexity, but these are the kinds of ranges sole traders commonly charge:

Compliance Tips for Sole Traders

• ABN is required on all invoices issued to other businesses.
• GST registration is mandatory when turnover reaches $75,000; voluntary registration is available below that.
• Income tax is reported on your personal tax return using the business and professional items schedule.

How to Create a Sole Trader Statement of Account

Follow these steps to put together a sole trader statement of account with our free generator:

1. Enter the client's details and the statement period being covered.
2. List each invoice issued in the period with its date, amount, and payment status.
3. Add any payments received or credit notes applied so the closing balance is accurate.
4. Download the statement as a PDF to send to clients with multiple outstanding invoices.

What to Include on a Sole Trader Statement of Account

A sole trader statement of account should cover these fields, plus a few billing norms specific to how sole traders typically operate in Australia.

Fields to include

• Statement period: Clearly show the date range covered so the client can match it against their own records.
• Invoice list: List every invoice in the period with date, amount, and whether it is paid or outstanding.
• Running balance: Show the total amount owed after all payments and credits, so the client sees a single figure to pay.

How Sole Traders typically bill

• Many sole traders bill hourly for ongoing work and fixed-fee for clearly scoped one-off projects.
• A deposit of 20–50% up front is common for new clients to manage cash-flow risk.
• Payment terms of 7–14 days are typical, with a follow-up reminder sent as soon as an invoice becomes overdue.
• Travel is usually billed per kilometre at the ATO cents-per-kilometre rate, or as a flat call-out charge.

An ABN is needed from day one to invoice other businesses without triggering 47% withholding, and GST registration becomes mandatory once turnover reaches $75,000 — many sole traders register voluntarily earlier if they have meaningful input costs.

Common Mistakes to Avoid

Watch out for these common errors when preparing a sole trader statement of account:

• Sending statements irregularly, which lets small overdue amounts build up unnoticed.
• Leaving out credit notes, so the running balance does not match the client's own reconciliation.

Frequently asked questions