Thriday vs. Akaunting: Which is best for business owners?

vs.

Akaunting is a free platform that tries to upgrade you based on specific features that you may require. Akaunting is not focused on the Australian market, so unlike Thriday, there may be discrepancies in the accuracy of their bookkeeping and accounting data.

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Supported in Australia

Thriday is designed and built in Melbourne, Australia by Aussie small business owners. Having that local knowledge and first-hand experience is a key reason why Thriday is perfect for small businesses in Australia. Akaunting is based overseas and therefore has not tailored the product to local requirements.

Transaction categorisation

The only way to cut costs effectively is to have a really good grasp of where your money is going. Thriday helps small business owners with this by categorising transactions automatically. Instead of indecipherable transaction data, Thriday enriches it, adding logos, locations, maps and contact details. Thriday then determines what GST is applicable and what chart of accounts it should be applied to. Akaunting does not provide any assistance with transaction categorisation.

Unlimited receipt scans

Thriday provides an in-built receipt scanner, no extra costs, and unlimited scans. This makes it easy to keep on top your eligible deductions and store them for safe keeping online. Akaunting does not provide any option to scan receipts.

Registered tax agent (no. 26262416)

To simplify your tax, BAS, and accounting needs, Thriday is a registered tax agent (registration number 26262416) with the Tax Practitioners Board (TPB). This allows you to file your BAS and taxes directly through the Thriday platform while benefiting from expert support from registered tax agents.

Automated reconciliation

It's something every business owner hates, reconciling expenses in an accounting system. Unlike Akaunting which does not assist with expense reconciliation, Thriday handles this in real-time, eliminating time wasted on financial admin. Every transaction you expense automatically gets reconciled. You still have the ability to override any categories, but it's more of an exception than a rule.

Setup bank accounts

The true power of Thriday comes from the ability to connect your business bank accounts* to your invoices. This means as soon as you get paid, your invoice is reconciled, the status of an invoice is updated and your income is assigned to the correct chart of accounts. With Akaunting you will need to manually update the status of your invoices and calculate what income and GST you need to include in your tax reports. Thriday brings the power of invoicing, real-time business transaction data, a Visa Debit card*, and accounting and tax into one holistic solution. Plus, any funds you have with Thriday will earn {{interestRate}} across all accounts, so you can earn more and work less.

Apple and Google Pay

As a business owner you just want to get on with things. Thriday helps you keep moving but allowing you to add your Thriday Visa Debit card to your Apple and Google Pay wallet. You can then pay for goods in store, anywhere Visa is accepted. This powerful feature means that as you spend money, all your bookkeeping and accounting is done in real-time. Akaunting does not provide transaction banking services such as a Debit card or Apple and Google Pay.

Cash flow and tax predictions

It can easily happen, you can make a rash decision simply because you don't have the right information in front of you. Thriday removes blind spots by helping you see what your expected cash flow and tax positions will be. You can then make decisions with confidence. Akaunting does not provide any cash flow or tax insights to business owners.

Pay bills

No one wants to use separate systems for sending invoices, reconciling receipts, forecasting cashflow and paying bills. That's why Thriday was created. It combines everything in one, eliminating financial admin and giving back business owners time to spend on more important things. Thriday allows business owners to pay bills via BPAY, or direct entry using a BSB and Account Number. Akaunting does not provide any option to make payments from their platform.

BAS lodgment

Thriday takes away the pain of financial admin and BAS lodgement and takes care of it all for you. Thriday's powerful BAS lodgment feature is such a game changer for businesses. Minimal effort and maximum reward. Akaunting does not provide any options to lodge your BAS.

Call centre support

When you need an answer to something, some times you just want to pick up the phone and talk to someone. Thriday has an Australian-based call centre, so when you need a helping hand, you can call 1800-THRIDAY between 9 am and 5 pm and someone will be there to help you. Akaunting does not provide any call centre support so you are left with chat or email as your only options.

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?

Running a business is hard enough. We get it. We live it every day! Spending 6 hours a week managing financial admin, usually, after hours, is the last thing you should have to do. And don't get us started on tax time... We built Thriday to eliminate financial admin and help you take back control of your money and time. By combining the tools you need to manage your money in one place, Thriday intelligently automates the tedious admin that sucks away your valuable time.

Thriday - An Akaunting alternative built for Aussie small businesses