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

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Judo is a new challenger bank focused on business lending. Judo does not provide any online or mobile banking capabilities, which means that if you want to actually keep on top of your finances, you are going to have to rely on another product such as Thriday. Thriday is perfect for business owners who want to eliminate financial admin and save 6 hours a week in their diary. With Thriday, as soon as a transaction hits your account, automated bookkeeping and accounting occurs. Business owners can then see an estimate of their tax liability in real-time and also a prediction of where it will be by the end of the financial year. No more guess work, no more hair pulling and say hello to complete business zen.

STEP BY STEP GUIDE

How to switch from Judo to Thriday

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

TAKE QUIZ

Business bank accounts

Judo bank does not provide business bank accounts. With Judo, you can either borrow money, or place it in a Term Deposit. For most business owners, being able to transact is a core part of their day-to-day operations. With Thriday, opening a business bank account* is easy. Just jump online and you get setup within a few minutes.

Online bank account opening

Remember the days when you had to jump on a call, or visit a branch to open a bank account. Thank goodness for Thriday. Unlike Judo bank, with Thriday you can open a business bank account* in minutes. You just need two forms of ID (either a Drivers Licence, Medicare Card or Passport) and you can get up and running in minutes. You'll even get a Visa Debit card* sent in the post so you can start transacting within a few days.

Send invoices and quotes

Judo bank operates more like a traditional lending or finance firm. They will lend you money, but not provide any real mechanisms for you to track your spend and improve the financial health of your business. One key area that differentiates Thriday from Judo, is that Thriday does provide a fully fledged invoicing and quoting capability for its client. This means one platform for banking, accounting, invoicing and tax.

Transaction reconciliation

Savvy business owners always have one eye on what is going out of the business. Some may even use a method like Profit First, where a business will only spend what they have left after removing owners salary and tax. With Thriday, you can use the automated transaction reconciliation to determine exactly where your money is going and build up a trend line to help predict future trends. Judo bank does not provide any transaction enrichment or categorisation services.

Bill payment manager

Keeping on top of all your bills is a real headache, just ask any business owner. Most business owners will be paying in excess of 30 to 40 bills each month. One of the key considerations when paying bills is managing and to help with this, Thriday has launched bill manager. Bill manager is a feature that is not available with Judo. It allows you to upload, forward or scan all your bills. Thriday will then retrieve all the details and have it ready for you to approve and pay. It's like having a financial assistant in your pocket!

Receipt reconciliation

After activating your Thriday Visa Debit card, you can then add it to Apple and Google pay, and as you make purchases, you can keep a record of your receipts. Keeping a receipt is required for audit purposes and is useful for reconciling GST. Unlike Judo, with Thriday, you can take a photo of your receipt and Thriday will take care of the rest. Once the image is uploaded, Thriday will scan the information using image recognition, then automatically reconcile the receipt to the underlying bank transaction.

Apple and Google Pay

Judo does not provide debit or credit card services, and therefore, there is nothing that you can add to Google or Apple Pay. With your Thriday Visa Debit card, you can add it to Apple and Google pay so that you get the added convenience of being able to pay wave your transactions as you shop in store.

Visa Debit card

Being able to pay for goods anytime, anywhere, is essential when running a business. With your Thriday Visa Debit card, you can make purchases in store, or online, anywhere Visa is accepted. Once you make a purchase, you can then instantly add a receipt, and also categorise your transaction for tracking purposes. Having a dedicated card for your business expenses makes it super easy when it comes to tax time.

BAS lodgment

Judo bank does not provide any value added services beyond basic banking and lending facilities. Thriday on the other hand provides a truly one of a kind platform that removes time spent on financial admin. Thriday even allows businesses to lodge their BAS, which is a requirement if you are GST registered, and will even provide expert tax agents to review your numbers to ensure they are correct.

Tax estimates

Judo bank, which focuses on relationship banking, does not provide any tax estimates or predictions, making it difficult for business owners to really understand their financial position. To assist business owners with understanding exactly what is safe to spend, Thriday calculates your tax in real-time and also provides a prediction of where it's expected to be at the end of the financial year. This empowers business owners to make smart decisions whilst also eliminating time spent on financial admin.

Thriday - An alternative to Judo Bank that is more than a bank

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

Business bank accounts

Online bank account opening

Send invoices and quotes

Transaction reconciliation

Bill payment manager

Receipt reconciliation

Apple and Google Pay

Visa Debit card

BAS lodgment

Tax estimates

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Why Thriday?

Join the Aussie community growing their businesses with Thriday

Why waste time on financial admin when Thriday can do it for you?

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