Registered for GST or not
Your GST profile records whether the business is registered for GST and from when, how often you report, and whether you account on a cash or accrual basis. Invoice and bill lines then carry a GST code.
Sole traders
Your books, kept as you go, so BAS time is a review, not a rescue
When you are the whole business, the books happen in the gaps. Kumry keeps invoices, bills, bank lines and GST together in one place, so the work is small and regular instead of large and late.
What a sole trader gets
- Invoices, bills, credit notes and payments in one ledger
- Bank statements imported as CSV, OFX or QIF and reconciled
- Approve your own postings, with a record that you did
- GST and BAS figures prepared from reconciled transactions
- Receipts and invoices attached to the transaction they belong to
What the work involves
Five jobs every sole trader has, and how Kumry handles them
No accounting background needed for the everyday work. Where a decision matters, such as a GST code, Kumry asks you and keeps your answer.
Get paid
Raise invoices with the right GST code on each line, send them, and record payments as they arrive. Recurring invoices cover the clients you bill on a schedule, and aged receivables shows who still owes you.In Kumry: Invoices · Recurring · Aged receivables
Record what you spend
Enter bills and expenses as they come in and attach the receipt. Each one carries its GST code, so the GST you can claim is worked out from the purchase itself rather than reconstructed later.In Kumry: Bills · Expenses · Documents
Keep the bank and the books in step
Import a bank statement as CSV, OFX or QIF and match each line to an invoice, bill or new transaction.In Kumry: Banking · Reconciliation
Approve what goes into the ledger
When you run the business alone you approve your own postings, and Kumry records that you did and when. Each posted entry is linked to the one before it, so a later change would show up.In Kumry: Ledger · Approval trail
Know where you stand
Profit and loss, balance sheet, cash flow and GST summary are a click away.In Kumry: Reports
Hand over clean records
When your accountant needs to look, invite them with their own sign-in and the access you choose, instead of sharing your password or emailing spreadsheets.In Kumry: Team · Advisors
How it works
A walkthrough
An illustration of how Kumry handles this kind of business from start to finish. It describes the product, not a named customer, and it promises no particular result.
How it works · an illustrative walkthrough, not a customer story
A freelance designer at the end of a quarter
A handful of clients billed monthly, software subscriptions and equipment purchases, and a quarterly BAS.
- 1
Set up
Answer the guided setup questions about the business and bring in the opening position, or start fresh.
- 2
Bill
Recurring invoices go out to retainer clients; one-off jobs are invoiced when they finish.
- 3
Spend
Subscriptions and equipment are entered as bills with the receipt attached and a GST code on each line.
- 4
Reconcile
Each month’s bank statement is imported and every line matched to an invoice, bill or new transaction.
- 5
Prepare the BAS
The GST summary for the quarter shows each label with the transactions behind it, ready to review and lodge.
BAS preparation starts from books that already reconcile to the bank.
GST and BAS
GST and BAS for a one-person business
Most of the effort in a BAS is making sure each transaction was coded correctly. Kumry puts that decision at the moment the transaction is recorded.
Traceable labels
The GST summary shows sales (G1), GST-free sales and purchases, and GST on sales (1A) and purchases (1B), and each amount opens to the transactions that make it up.
Cash or accrual
Figures are prepared on the basis set in your GST profile. If you are unsure which basis applies to you, check with your tax agent or the ATO.
Lodging
Kumry prepares the figures. You lodge the BAS yourself through ATO online services, or your registered agent lodges it for you.
Kumry prepares GST and BAS figures from your transactions. You, or your registered tax or BAS agent, review and lodge them with the ATO. This is general information, not tax advice.
Questions people ask
Do I need to know accounting to use Kumry?
No. The everyday work is invoices, bills and matching bank lines. Kumry keeps the double-entry side in the background, and your accountant can look at the full ledger whenever they need to.
Can I approve my own transactions?
Yes. A business with one owner can approve its own postings. Kumry records that the same person entered and approved them, so the trail stays honest when a second person joins later.
Can I connect my bank account?
Not directly. Import bank statements as CSV, OFX or QIF files and reconcile them in Kumry.
Does Kumry lodge my BAS?
No. Kumry prepares the BAS figures and shows how each one was reached. You, or your registered tax or BAS agent, lodge it with the ATO.
I keep my books in a spreadsheet. Can I move to Kumry?
Yes. Start fresh in Kumry with your opening balances, or talk to us about bringing earlier history across. If you are on Xero or QuickBooks Online, Kumry can import your books directly.
Keep the books small and regular
Request access, or book a walkthrough and see a quarter’s work done end to end.
Kumry accounts are set up on request: Get started takes you to a short request form.