Sole proprietorship

Meaning

A sole proprietorship is a simple form of business with only one owner. The owner and the business count as one legal entity.

Key points

• Sole proprietorship appears frequently in invoicing, payment handling, and bookkeeping workflows.
• The term improves clarity between clients, suppliers, and accounting teams.
• Consistent use supports cleaner documentation and better reporting quality.

Practical use

In Nexbal workflows, sole proprietorship is used to keep invoice and payment operations structured and auditable.