Newsletter - August 2026

Also in this month's newsletter:

• New Anti-Money Laundering laws, and why your accountant may be asking more questions this financial year

• What it really means to build a business on your own terms with Rounded co-founder Oliver Garside

• New updates for Rounded Trax

• More helpful resources for sole traders

📅 7 ways to boost cash flow without more clients

Assuming you've already done the basics, like:

• Automating your invoicing and overdue invoice follow-up

• Giving clients the option to pay online

• Using a separate bank account for your business to easily see money in and out

Here are a few more ways you may be able to improve cash flow that many sole traders don't know about.

1. Run a client profitability audit

After a few years in business you'll have clients who look good on paper but are quietly expensive to service.

At least once a year, go through your client list and roughly tally hours spent (including unbilled admin and email time) against what each one actually pays and how long payment takes.

This is a lot easier if you use Rounded's breakdown of income per client and time tracker, or another time tracking tool.

Anyone in the bottom 10–20% is either due for a repricing conversation or a graceful exit, so you can spend those hours on more valuable things.

Note: If you mainly serve one-off clients in your business, this exercise can still be helpful to see which types of work you can finish, invoice, and collect sooner.

2. Time your bills around your income

If most client payments land at the end of the month, see whether suppliers and recurring bills can be moved to just after that date.

3. Give regulars the option to pay ahead

Offer existing clients a reason to prepay 4, 6, or 12 months ahead: a locked-in rate, priority access, or a modest prepayment discount.

4. Start charging for the extras you’ve been giving away

Rush jobs, extra revisions, and “quick favours” can quickly add up. Look at what you regularly do outside your original quote and decide if it makes sense to start charging for them.

5. Diversify beyond billable hours

Some ways you might be able to do this:

• Sell access to your knowledge: A paid workshop, mini-course, or template pack built from work you've already done.

• Set up referral partnerships: A formal fee or commission arrangement with businesses you already refer to informally.

• Add a post-project retainer: Many sole traders finish a project and walk away from ongoing maintenance/support income that's sitting right there.

6. Talk to your accountant about varying your PAYG instalments

The ATO calculates instalments based on last year's income. If this year's profit is tracking lower (or you've had a slow quarter), you may be able to lodge a variation instead of overpaying and waiting for a refund at tax time.

7. Formally write off bad debts

If you know an invoice isn't getting paid, don't just mentally file it away. Formally recording it as a bad debt may have tax benefits if you've already declared that income or GST.

Make sure you check the ATO's requirements and speak to your accountant if you're planning on writing off a bad debt.

Please note: The above is general information only and doesn't take into account your individual circumstances. Always speak to a registered tax professional about your specific situation.

Claim all the vehicle expenses you're entitled to for FY 26-27 with Trax

It's been so great to see the response to Trax so far, from both the Rounded community and new sole traders discovering us for the first time.

Our team has been hard at work to make the experience even better. Here's what's new in the last month:

• Clearer instructions to help users set up auto-tracking via Bluetooth or CarPlay

• Option to use motion-based auto-tracking for those who don't want to set up automations

• The ability to edit a completed trip's start / end addresses and other details

• Improved GPS accuracy

For Rounded users: You'll have to create a new account when signing up for Trax, as it is a separate app. Connecting your Rounded account to Trax will give you an automatic 50% discount if you choose to sign up for a paid Trax plan.

New AML rules: What do sole traders need to know?

Australia's new Tranche 2 anti-money-laundering reforms extend the kind of compliance checks banks already run to accountants and bookkeepers too.

In practice, that means your accountant might start asking for:

• More ID verification

• More clarity on your business structure

• Extra context around large, overseas, or irregular payments

Lauren Thiel, Accountant for Sole Traders, has put together a full breakdown of what's changing and what to expect.

Listen now: Money, freedom & building a business on your own terms

Our co-founder Oliver Garside joined Belinda Murray on the Bee Formless: Flow Driven CEO podcast this month to explore what it really means to build a business on your own terms, and why money is only one part of the equation.

🎧 Listen on YouTube · Spotify · Apple Podcasts

More helpful resources

From the Rounded team:

• Your step-by-step guide to lodging your sole trader tax return

• How to share your Rounded data with your accountant

From the community:

• The new 90-day domain name rule that can kill your business’ online presence

• The card surcharge ban is coming. Here's what sole traders need to do before October

• Creating AI protocols for creative businesses

• What the World Cup exposes about your tradie business

• 'We're Just Not Going To Have A Music Industry': How Pay Day Super Rules Are Hitting Grassroots Aussie Musicians\

• Earn less than $70k? Check out the ATO's Tax Help program

New to Rounded, or have questions?

• Sign up for our weekly Intro to Rounded masterclass

• Visit our Help Centre or reach out via in-app chat. You'll usually hear from a human in around 30 seconds.

• Got any features you'd like to request, or want to see what's coming up next? Check out our roadmap.

• See our live systems status here anytime

  Cover Photo by Sasun Bughdaryan on Unsplash