Thriday vs. Solo by MYOB: Which is best for business owners?

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Solo by MYOB is a new app targeting sole operators including sole traders, freelancers, and the self-employed who are currently using spreadsheets to manage their financial admin. They have their work cut out for them as there's no direct connection with bank accounts and many of the processes like expense reconciliation and categorisation are still highly manual processes which won't save the target market any time.

STEP BY STEP GUIDE

How to switch from MYOB to Thriday

Find out how much money you could save by switching to Thriday

TAKE QUIZ

Credit card required on trial

Sol requires a credit card before you even get to test the platform so don't forget to cancel your subscription if you're not satisfied.

Open up to ten $0 Bank Accounts

Thriday combines banking, accounting and tax with up to 10 $0 monthly fee bank accounts, streamlining your financial management. It's the built-in bank accounts that make Thriday a game-changer and power all of the automation that the other apps don't have

Earn interest on your savings

Thriday lets you earn interest on your account balance, ensuring your money always works hard for you.

Earn interest on your savings

Thriday lets you earn interest on your account balance, ensuring your money always works hard for you. No other accounting platform does this.

Automated receipt reconciliation

Thriday automates receipt reconciliation, saving you hours of manual data entry and ensuring you claim the right tax deductions. Solo enables you to take a photo of the receipt but you need to manually categorise it and there's no way to automatically reconcile it to a transaction as there's no banking integration.

AI-driven accounting and tax services

Thriday uses AI to handle your accounting and tax, offering greater accuracy and efficiency than traditional methods.

Real-time tax and cash flow forecasts

With Thriday, you get instant insights into your tax obligations and cash flow, helping you stay ahead. Solo isn't directly integrated with a bank account so it's a manual process to understand tax and cash flow which makes it pretty pointless.

Human tax agents

Thriday provides access to qualified tax agents who can review your books, offering a personal touch when you need it.

Registered Tax Agent (No.26262416)

Thriday is a registered tax agent, ensuring compliance and accuracy in all your tax dealings. Not only do we show you how much tax you should have saved but you can lodge your BAS and tax directly to the ATO from Thriday too!

Automated fund allocations

Thriday automatically allocates your funds to different accounts, helping you manage expenses and savings effortlessly. The built-in banking* in Thriday powers the automation of the bookkeeping and accounting which is what all other products lack.

Enjoy these great Thriday features

Thriday is completely cloud based and available on web and app

Modern, fast and AI-driven platform that has no legacy systems

Works out of the box with no training or third-party support required

Combines banking, bookkeeping, accounting and tax in one platform

Saves hours each week as no manual intervention required

No bank feeds or manual expense tracking

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Why Thriday?

Thriday was designed to free sole traders from the burdens of financial administration. Tasks like tracking billable hours, managing client payments, and handling BAS and tax obligations can pull you away from your business or spending quality time with your family. After signing up with Thriday, you'll receive a dedicated business bank account* and Visa Debit card*. As you earn fees or cover expenses from your bank account*, Thriday seamlessly manages your bookkeeping, accounting, and tax behind the scenes. It’s real-time, integrated with the ATO, and tailored to the unique needs of your practice. For added reassurance, Thriday also offers access to tax experts who can review your financials online whenever needed. Sign up for your $0 bank account* today and leave financial admin behind.