1. Your business details, once
Your business name, your ABN, and how customers pay you: a BSB and account number, a PayID, or both. Your email, phone and address are optional. We check the ABN’s digits so a typo is caught before it goes on an invoice. If you live with a partner, you can say whose business it is.
2. Make an invoice
Who it is for, what it is for and the price. Add more lines if you need them. The invoice number, today’s date and the pay-by date fill themselves in.
3. Send it
Open the invoice and choose Save as PDF. On a phone you can then send it by text, email or any app you like. NestWise does not email your customer for you. Then tap Mark as sent, so you can see the day it went. If you tapped it by mistake, choose Not sent yet under More.
4. Mark it paid
Tap Mark paid when the money arrives. It is added to your side business record for the financial year it arrived in. If an invoice was marked paid by mistake, choose Not paid after all. An invoice still unpaid after its pay-by date shows on your Home until it is marked paid.
5. Money in and costs
Not everything comes from an invoice. Tap Add money in or a cost for a market day, a platform payout or cash, and for costs like stock, stall fees or postage. Add the amount, what it was for and the date the money moved. Money from an invoice counts when you mark the invoice paid, so it does not need adding again.
6. Your figure for the year
The page adds it up for this financial year (1 July to 30 June): money in, less the costs you recorded. This is a figure for your plan. It is not your taxable profit, and the costs are not tax deductions. If costs are more than money in, your plan counts $0 for that year, which is not how a tax return treats a loss. Details shows each month.
7. You decide if it counts as income
Your records save straight away. The figure only goes into your income as “Side business (after costs)” once you say to use it, or you can keep it out for now. Until then your tax and family payment estimates do not include it. Once it is in, later invoices update it and we show you what changed. If it moves a lot, we check with you once more. If your income already has a business line, we ask whether it is the same money, so it is only counted once.
8. How it reaches your adjusted taxable income
Once it counts, Side business shows the steps: money in, less costs, added to your other taxable income, plus any amounts that get added back, such as reportable super contributions. That total is your adjusted taxable income, and it comes from what you have told us so far, before any tax deductions.