Introducing my new revenue split calculator
I’ve created a Google Sheets template that’s ready for you to input your figures and start sending your money to the right places without needing to do complex calculations on your own
Why is it so hard to simplify paying yourself?
Are you winging it? Hoping for the best? Transferring money here and there hoping you have enough to cover your bases? Keeping everything in one account and praying to the tax gods that it all works out? Or maybe buried under cumbersome spreadsheets that make you want to hide from it all so you do exactly that? Often, software applications like Xero, Hnry, or MYOB provide the answer, but unique situations can complicate things.
Splitting your revenue is often headache-inducing
Most of us understand that financial clarity is essential for success and sustainability, but I’ve noticed that many sole traders and small business owners -who often pay themselves in adhoc drawings - struggle to split their revenue appropriately. With little guidance available, they grapple with understanding tax obligations, retirement savings, and other allocations that contribute to their financial well-being.
My Revenue Split calculator is a direct response to this challenge. I recognised the importance of having a clear and intuitive tool that demystifies financial calculations, enabling you to take control of your finances!
I created this for myself, then shared it with a few other small biz owners who loved it, so I refined it and made it look nicer, et voila!
Key Features of the Revenue Split calculator
Simplicity: The Revenue Split calculator prioritises user-friendliness. You just input your total invoice amount and specify GST inclusion or exclusion, guided by the step-by-step interface.
Tailored Tax and Allocation Options: Customise the spreadsheet to match your unique financial situation. Select from various tax rates and allocations, such as income tax, retirement savings, and other funds. You can adapt the tool to align with your financial goals.
Instant Calculations: As you input data, the calculator performs real-time calculations, providing immediate insights into revenue distribution.
My spreadsheet is designed to give you a little bit of a buffer, so that you can be sure you’ve set aside enough e.g. it’s difficult to predict how much your GST bill will be if you have fluctuating expenses, so you’re likely putting aside more than what you need. It's been reviewed and approved by an accountant, ensuring accuracy.
Usage is straightforward. Input an invoice amount, select obligations e.g., tax, student loan, and the bottom table guides you on fund allocation. And yes, it's free!
Each time you get an invoice (or you could group a bunch of invoices together) you enter the full amount (inclusive of GST if you are registered) then select your obligations e.g. tax rate, student loan, ACC levies, savings and the bottom table will tell you how much to send where. It’s so easy!
Empowering your Financial Journey
The revenue split calculator isn't just about numbers; it's about empowerment. By providing you with a transparent and efficient tool, you'll be equipped to make well-informed decisions that positively impact your financial future.
Whether you're a creative freelancer, consultant, or business owner, my calculator simplifies financial management.
Say goodbye to uncertainty and hello to precision and empowerment through financial literacy. Take charge of your financial destiny today by embracing this powerful tool that simplifies revenue allocation, tax calculations, and savings planning. With the Revenue Split calculator by your side, your financial journey is set to be smoother, clearer, and more prosperous than ever before.
Want to simplify paying yourself?
Download my revenue-splitting calculator now!
Disclaimers:
This is not financial advice. I am not a financial advisor.
I am solving a small problem as part of a much bigger financial process for small businesses.
This is currently only applicable to people in Aotearoa, New Zealand.