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Create an asset

Assets are owned by a business and are used to generate positive outputs to help run or sustain operations. This is generally some kind of property (vehicle, building, or otherwise) that you own and use for your business. Assets are recorded on a company’s ‘balance sheet’ and if you are able to maintain an accurate description of your business’ asset balances, this can help you to determine the financial wellbeing of the business.

In Sole, users have the ability to create and maintain assets through the ‘Asset’ screen, in which you can perform activities such as:

  • Adding a newly or previously purchased asset;
  • Assigning an ‘asset category’ to categorise types of assets by class;
  • Marking assets as ‘paid by cash’; and
  • Run a balance sheet report to summarise the position of your business.

Where to find out more:

The ultimate start-up guide and checklist to smash your own business
Exclusively for any sole traders and solopreneurs

The ultimate start-up guide and checklist to smash your own business

This checklist and guide has been tailored to any sole traders or solopreneurs and covers the exact steps to take, whether you are starting a new small business or wanting to grow a successful small business.
These activities have been proven effective and critical for countless sole traders and solopreneurs, validated by our industry partners and our extensive experience in the field.
Just let me know your contact information and hit the giant button below to get instant access to the checklist and guide for FREE.