Managing small business finances can be challenging. Many Australian business owners find Thriday lacking essential features. Thriday users often struggle with limited automation and insufficient integration with bank accounts and Visa cards. Small business owners need robust accounting software to handle business and personal transactions efficiently. Switching to Thriday alternatives can provide solutions.
Enhanced features like automatic categorisation, comprehensive reporting, and seamless reconciliation make financial management easier. Alternatives also offer superior support from registered tax agents and accountants. This ensures compliance with Australian tax regulations and saves time.
This article presents a complete guide to the top 3 Thriday alternatives in 2024. It highlights their benefits and unique features. Discover how these alternatives can streamline your accounting and tax processes, making business management simpler.
Why Consider Alternatives to Thriday?
Drawbacks of Thriday:
Thriday, while a useful tool for many small business owners, has some limitations. Users often report issues with its mobile app on iOS and Android. The categorisation of business expenses sometimes lacks accuracy, leading to reconciliation difficulties. Additionally, the integration with various business bank accounts and transactions could be more seamless. Thriday’s functionality in handling GST and BAS reports is sometimes seen as cumbersome. These drawbacks make it essential to consider other options that might better suit specific business needs.
What Thriday Lacks?
- Limited mobile app functionality on iOS and Android.
- Inaccurate categorisation of business expenses.
- Integration issues with business bank accounts and transactions.
- Cumbersome handling of GST and BAS reports.
- Insufficient automation features for small business owners.
Top 3 Thriday Alternatives
1. TaxLeopard:
TaxLeopard, a one-stop accounting software with CPA accountants, is specifically designed for self-employed individuals and contractors in Australia. It offers seamless accounting and tax management tailored to the unique needs of sole traders. The software integrates with business bank accounts, enabling easy categorisation of business expenses and automatic reconciliation of transactions. TaxLeopard’s mobile app is available on iOS and Android, ensuring that users can manage their finances on the go. Additionally, it supports BAS preparation, Free ABN registration and GST management, making it a comprehensive solution for small business owners.
Unique Features of TaxLeopard:
- Integration with business bank accounts and Visa for seamless transactions
- Automatic categorisation and reconciliation of business transactions
- Mobile app support for both iOS and Android
- CPA accountants available for personalised advice
- Comprehensive GST and BAS management
- Free ABN/GST registration
- Car Logbook
How TaxLeopard Excels Over Thriday:
- CPA Accountants: Access to professional advice from registered tax agents.
- Mobile App: Available on both iOS and Android, unlike Thriday.
- Business Integration: Better integration with bank accounts and Visa.
- Automatic Categorisation: More efficient transaction categorisation and reconciliation.
- Comprehensive Support: Extensive support for GST and BAS management.
2. QuickBooks Online:
QuickBooks Online stands out as a powerful accounting software, particularly beneficial for small business owners. It offers comprehensive solutions for managing invoices, tracking business transactions, and maintaining detailed bookkeeping records. The software’s mobile app, available on iOS and Android, ensures accessibility for business owners on the go. With seamless integration of bank accounts and a user-friendly interface, QuickBooks Online makes it easy to handle accounting and tax needs.
Unique Features of QuickBooks Online:
- Automated invoicing system for efficient billing.
- Comprehensive business transaction account tracking.
- Real-time bank account reconciliation.
- GST management tailored for Australian businesses.
- Detailed categorisation of business expenses.
- Robust reporting capabilities for tax returns.
- Logbook feature for mileage tracking.
- ABN management and compliance support.
Advantages Over Thriday:
- More advanced invoicing options.
- Better integration with various bank accounts.
- Superior automation features reduce manual admin tasks.
- Enhanced GST management tools.
- Detailed categorisation and reconciliation processes.
- Comprehensive mobile app functionality for both iOS and Android.
- Stronger support for registered tax agents and advisers.
3. Xero:
Xero is a popular accounting software designed for small businesses and sole traders. It allows businesses to automate their bookkeeping and accounting processes efficiently. Small business owners can easily track their business expenses and categorize transactions from their bank accounts. Xero simplifies the accounting process with features such as automatic reconciliation, invoicing, and GST management.
Unique Feature:
One of Xero’s standout features is its ability to integrate with over 800 third-party apps. This integration provides small business owners with a comprehensive toolset to manage their business finances. The mobile app available on iOS and Android platforms ensures that business owners can access their accounts and perform tasks on the go. Xero’s bill manager feature allows for easy tracking and payment of bills, saving you time and reducing admin work.
How Xero is Better Than Thriday:
- Integration: Connects with over 800 apps, enhancing functionality.
- Mobile Access: Available on iOS and Android, offering flexibility.
- Automation: Automatic reconciliation and categorization of transactions.
- Bill Management: Efficiently manage and pay bills through the platform.
- GST Management: Simplifies GST compliance and lodgement for Australian businesses.
Benefits of Switching to Alternatives
- Enhanced Features: Alternatives often come with advanced features like bill management and mobile app accessibility for both iOS and Android, making business operations smoother.
- Better Integration: Seamless integration with bank accounts and Visa cards helps automate transactions and track expenses efficiently.
- Superior Support: Alternatives offer robust support from registered tax agents and accountants, ensuring compliance with Australian tax regulations.
- Improved Automation: Automatic categorisation of income and expenses saves time and enhances bookkeeping accuracy.
- Comprehensive Reporting: Detailed profit and loss reports help business owners make informed financial decisions.
- User-Friendly Interface: Intuitive platforms make it easy for small business owners to manage finances without extensive accounting knowledge.
- Tax Filing Assistance: Alternatives provide features to lodge BAS and tax returns effortlessly, ensuring timely compliance.
- Customised Solutions: Tailored for sole traders and small businesses, offering specific tools like logbook management and invoicing.
- Cost-Effective: Many alternatives offer competitive pricing and better value for the features provided.
- Secure Transactions: Enhanced security features protect business transactions and personal data, ensuring peace of mind.
Wrapping Up
Exploring Thriday alternatives can significantly enhance your accounting and bookkeeping experience. Better automation, comprehensive reporting, and superior support are just a few benefits. The right software can save time, simplify tax filing, and provide valuable financial insights.
Among the alternatives, TaxLeopard stands out as the best option for sole traders. With features like automatic categorisation, seamless reconciliation, and expert support from registered tax agents, TaxLeopard simplifies business and personal transactions. It ensures compliance with Australian tax regulations and saves valuable time.
Choosing TaxLeopard allows small business owners to focus on growth while handling accounting efficiently.
