FlowFi vs spreadsheets for Australian sole traders
A spreadsheet is free, flexible and completely under your control. Every sole trader in Australia has run their books in one at some point, and a well-built sheet with a tab per quarter, a category column and a couple of SUMIFs can get a simple business through a BAS. There is no subscription, no learning a new product, and no one else’s idea of how your books should look.
The cost is your time and the risk of a wrong number. Every transaction is typed or pasted and categorised by hand, GST is a formula you have to get right on every row, and nothing tells you when a figure looks off. FlowFi does the same job from an uploaded statement: AI categorises, GST and deductions are flagged, and every BAS label is prepared with a copy-guide for ATO Online. It costs $29 a month and about ten minutes a month.
Side by side
| Spreadsheets | FlowFi | |
|---|---|---|
| Price | Free with Google Sheets, or included with Microsoft 365. | Pro $29 a month or $290 a year. Business $59 a month or $590 a year. 14-day free Pro trial, no card. |
| Who it is built for | Anyone. It is a blank grid; the bookkeeping structure is up to you. | Australian sole traders and freelancers doing their own books, usually with no employees. |
| How transactions get in | Typed by hand or pasted from a bank CSV, then tidied. | Upload a CSV or PDF bank statement. No bank login and no bank feed. |
| AI categorisation | NoNo. You categorise every row yourself. | YesYes. AI categorises every line of an uploaded statement with a confidence score, asks you to review only the uncertain ones, and learns from your corrections. |
| GST and deduction flagging | NoNo. GST is a formula you maintain; nothing flags a deduction you missed. | YesYes. GST is worked out per transaction and likely deductions are flagged for review. |
| BAS preparation | NoNo. You build totals yourself and map them to the BAS labels. | YesYes. Every BAS label is prepared on a copy-ready card with a guide for ATO Online, and a reminder email lands before the due date with your labels filled in. Or export the pack for your accountant. |
| Tells you what to set aside for tax | NoOnly if you build the formula and keep it up to date. | YesYes. Tax Pot shows what to have set aside for tax from your real transactions, the gap, and a weekly amount to close it. You keep the money in your own account. |
| Invoicing | A template you build and send manually. No reminders, quotes or recurring invoices. | YesYes. Tax invoices in four styles with your logo, emailed with the PDF attached, a link your client pays from by bank transfer or PayID, quotes accepted online, recurring invoices, and automatic reminders at 1, 7 and 14 days overdue when switched on. |
| Receipts | A folder on your phone or in the cloud, matched by hand. | YesYes. Attach receipts to transactions. |
| Mileage | A log tab you keep up to date and multiply by the rate. | YesYes. Log trips and apply the ATO cents-per-kilometre rate. |
| Cash-flow forecast | Only if you build and maintain it. | YesYes. A cash-flow forecast built from your invoices and history. |
| Human support | NoNone, apart from forums and your accountant. | Email support. FlowFi is software; keep your own accountant for advice. |
| Lodges for you | NoNo. | NoNo. You copy the prepared labels into ATO Online in a few minutes, or send the pack to your accountant. |
Spreadsheet costs assume Google Sheets (free) or Microsoft 365 (subscription) as at September 2026.
Choose a spreadsheet if
- You have a handful of transactions a month and are not registered for GST.
- You enjoy building and maintaining the sheet and trust your own formulas.
- Cost matters more than time right now and $29 a month is not worth it yet.
Choose FlowFi if
- You are registered for GST and the quarterly BAS has become a weekend job.
- You have missed deductions or made a GST error in the past and want a second set of eyes.
- You would rather upload a statement and review than type and categorise every line.
Switching from a spreadsheet
Export a statement from your bank
Download a CSV or PDF for the quarter. You do not need to convert your spreadsheet; the bank statement is the source.
Upload it to FlowFi
Drop the file in. AI categorises each line, works out GST and flags deductions. If your sheet has categories you like, use them to check the AI’s work.
Review and lodge
Check the categories, confirm the BAS labels and copy them into ATO Online. Keep the old spreadsheet for your records.
Not sure where the export button is? How to export a bank statement CSV from the major Australian banks.
Questions people ask
Is a spreadsheet acceptable to the ATO?
Yes. The ATO requires records that explain your transactions and are kept for five years; it does not mandate software. The risk with a spreadsheet is accuracy and completeness, not the format.
Can I upload my existing spreadsheet to FlowFi?
FlowFi is built to read bank statements in CSV or PDF. A spreadsheet of transactions saved as CSV with date, description and amount columns will usually work; a bank export is the more reliable source.
What if I only want FlowFi at BAS time?
You can upload a whole quarter at once and do it in one sitting. Monthly uploads take less time overall because the AI learns your patterns, but quarterly works.
Keep reading
Retire the spreadsheet for one quarter and see
Upload one CSV or PDF and compare FlowFi’s figures with your sheet. Free for 14 days, no card.
Start 14-day free trial14 days of Pro free. No credit card. Then $29 a month or $290 a year.
Figures are general information only and may change; check both options' current pricing and features before deciding. FlowFi does not lodge your BAS or give tax advice.