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

vs.

Reckon is third largest accounting product in Australia. Reckon recently sold their accounting division so it's difficult to establish what the future holds for the brand. Reckon does not provide any automation like Thriday, meaning you are still reliant on a bookkeeper or accountant to do the books.

STEP BY STEP GUIDE

How to switch from Reckon to Thriday

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

TAKE QUIZ

Create free bank accounts

Where Thriday really separates itself from a platform like Reckon is with business bank accounts*. With Thriday, your business bank account* is your accounting platform. Earn {{interestRate}} across up to 10 fully-featured business accounts*, which you can use for different income or expense categories. These accounts are protected under the Financial Claims Scheme (FCS). Reckon does not provide any business banking or transaction services with its platform.

Monthly subscription

A better product that costs less, yes it's true! Thriday really does provide a comprehensive end-to-end platform that includes business transaction accounts, Visa Debit cards, in-built receipt scanning, invoicing and quoting, automated reconciliation, cashflow and tax predictions, BAS lodgment and financial reports for only $29.95 a month. Because Thriday was built using all new, modern, cloud based technologies, it's cheaper to run and Thriday can still deliver you a better service. Reckon which costs $51 a month is really lacking a lot of the functionality of Thriday and is more expensive. I reckon you know which platform to choose!

$29.95 per month

$51.00 per month

$29.95 per month

$51.00 per month

No bank feed setup

I love setting up bank feeds, said no business owner ever. Setting up a bank feed is hard, can sometimes require paper forms, and do you really want to be sharing your data with multiple platforms? Thriday removes the need for bank feeds by integrating a business transaction account with accounting. Seems obvious right? Reckon on the other hand does require bank feeds or manual importing of data to work. Who has time for that? Not you!

Automated allocations

When your business is bringing in funds, automate the process by setting up allocations. Direct a portion of your earnings straight to your preferred bank account, whether it's for streamlining Profit First distributions or contributing to your Super account. Simplify your finances effortlessly.

Registered tax agent (no. 26262416)

To streamline your tax, BAS and accounting requirements even more, Thriday is a registered tax agent (registration number 26262416) with the Tax Practitioners Board (TPB). This means you can lodge your BAS and taxes directly from the Thriday platform and take advantage of expert support from registered tax agents.

No accountant required

Thriday is so powerful that it can act as an accountant in your pocket. Using artificial intelligence, machine learning and some really clever code, Thriday can do your bookkeeping and tax calculations instantly. If you would still like the peace of mind of an accountant to look over your numbers, Thriday can provide that to. Thriday offers in-built human accountants who can review your BAS or tax submissions for an extra fee. It really is an all-in-one platform. Reckon does rely on an accountant to be used. There is no way around it.

No training required

Thriday was built for small business owners by small business owners. Founded by two business owners who were frustrated by their own experiences with banking, accounting and tax software, Thriday was born in Melbourne, Australia. Reckon was built primarily to be used by accountants and is very complex. You will need to have some experience with accounting and bookkeeping to use the platform.

In built receipt scanning

Unlike other accounting software such as Reckon, receipt scanning is directly integrated into the core Thriday product. There is no separate apps to download or setup, you just log into Thriday, upload receipts and away you go. The best part is, because your transactions appear instantly, you can reconcile your receipts in real-time.

BAS lodgment to ATO

Reckon allows you to generate a BAS statement but then you have to manually submit it to the ATO. This is time consuming and can lead to human error. With Thriday, you can lodge your BAS directly to the ATO. You can do it yourself, or take advantage of having it reviewed by a registered tax agent. Thriday was built to eliminate time wasted on financial admin and this is one of the main ways they do that.

Real-time transactions

Because Thriday has integrated a business transaction account and Visa Debit card, this also provides the superpower of real-time transactions. Unlike other accounting software platforms like Reckon, all your transactions just appear. No bank feed setup, no manual imports, and most importantly it appears instantly. Your business operates in real time, so should your accounting and tax software

Visa Debit card

Having a Visa Debit card connected to your business transaction account and accounting is one of the unique features of Thriday. As soon as you transact, all your expenses are instantly reconciled. It's so intuitive, there is really nothing to do. Just earn and spend money and Thriday will take care of the rest. Reckon does not provide an integrated Debit card with its product.

Make payments

Thriday allows you to make payments to a BSB or Account Number, pay bills via BPAY and also transfer funds between your own business accounts. Having the ability to move money around from the same place you do your accounting and tax is a huge time saver. There is no ABA files required as well. With Reckon, there is no ability to make payments to suppliers, staff or your own bank accounts.

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 - A Reckon alternative built for Aussie small businesses