Step 1: Payments land in your account
Your clients or customers pay you into your Solo & Smart business bank account. This account is created especially for you and is designed to be seperate from your normal operating account. By keeping this account separate, we can automate the movement of money out of the account based on your settings. It also means any savings in your account are kept out of sight and out of mind.
Step 2: You choose your settings for tax, super, profit or a rainy day
Every business is different and has it’s own unique needs. The Solo & Smart app allows you to easily select a percentage to put aside as savings for tax, super, profit or a rainy day. You simply choose the percentages that work best for you and those settings are automatically applied to every payment that lands in your account. Your savings will build up in your Solo & Smart business account, but don’t worry it’s your account and your money, you can access it through the app at any time.
Step 3: Your free to spend money
Once your savings have been put aside, all of your free to spend income is sent through to your operating or everyday account. The beautiful thing is that you know your financial commitments have been taken care of and the money in your bank is yours to spend. Your free to spend money can be sent to any bank and we transfer the payments to you on a daily basis so you never have to wait long for the money to be in your account.