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

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Stripe is a large US fintech that provides APIs and services to get paid. Stripe is popular with eCommerce businesses and startups who need to accept card payments online. Thriday is a great compliment to Stripe, because any payments you receive, can be paid into your Thriday business bank account* and held securely. This income is then automatically reconciled to a chart of account, and your cashflow and profit and loss is immediately calculated. Thriday can then be used to generate all your accounting reports and even lodge your BAS to the ATO.

STEP BY STEP GUIDE

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Business bank accounts

Stripe does not issue business bank accounts, which means that customers do need to bring their own when using Stripe services. For most businesses, this means any payments they receive from Stripe are deposited into their bank account. This is where Thriday can play a complimentary role to Stripe customers who need a business bank account*. Thriday allows business owners to create up to 10 transaction accounts, and Stripe funds can be deposited directly into those accounts. Any funds you have with Thriday will earn {{interestRate}} across all accounts without losing flexibility or functionality. The best part about Thriday is there is nothing for you to do. Just keep your money in your Thriday accounts, and interest is earned daily and paid monthly.

Unlimited invoices and quotes

Stripe does provide invoicing and quoting functionality, however there are additional fees and charges required depending on how many you spend. Thriday provides unlimited invoicing and quoting under its standard subscription and this is a huge benefit for small business owners.

Expense reconciliation

Thriday eliminates all the mundane financial admin tasks that business owners need to do today, and wins back time to serve clients and work on your craft. One key way that Thriday helps do this is with automated expense reconciliation. Stripe does not provide any features to help with expense coding.

Receipt scanning

With Stripe, receipt scanning and reconciliation is non existent. Sign up to Thriday now if you want an all-in-one financial management platform that takes away the administrative burden of running a business.

Cash flow forecasting

Stripe does not assist with cash flow forecasting which is a huge advantage for Thriday. Small business owners recognise the importance of understanding how they will be positioned in the future. So Thriday is perfect for modern business owners who need to make smart business decisions.

Bill payment tracker

Being on time with your bill payments is good manners when running a business. Imagine it was the other way around! So with Thriday, we make this easy for you. You can just forward, upload or take a photo of a bill and Thriday will scan the details and schedule a payment. It's really that simple. Stripe does not provide any bill management services, which pushes the burden back onto you as the business owner.

Automated bookkeeping

Don't spend a lot of money on a bookkeeper when Thriday, unlike Stripe, can do it automatically for you. Thriday's unique bookkeeping function works in real-time, eliminating financial admin for busy business owners, and making it easy to stay compliant.

Budget tracking

Budgeting with Stripe can be very painful. The only way to do it, would be to pull your Stripe data, alongside your bank transaction data, and then use a tool like Microsoft Excel to do your own calculations. With Thriday, there is no burden, and no calculating required. Thriday provides a variety of different tools to help you budget, and the best part is, all the data is amalgamated in once place.

BAS lodgment

Thriday has some serious reporting available out of the box. This includes BAS lodgment, which comes in handy for businesses that are registered for GST. Thriday, unlike Stripe, allows you to lodge your BAS directly to the ATO. With Stripe, you would need to hookup your account to something like Thriday, that can take care of the rest.

Management reports

Stripe is a payment gateway that is designed for developers to add payment services to sites and apps. Stripe does not provide any management reporting capabilities, and you standard accounting reports like income statements, cashflow statements and balance sheets are not available. Unlike Stripe, Thriday does provide all these reports, and they are included in your standard Thriday subscription.

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?

Do you love running a business but hate the 'business stuff'? Managing your financial admin can be a real drain on your time and job satisfaction but there is a better way. Thriday is a new solution for a centuries old problem – managing your banking, accounting and tax. Thriday uses artificial intelligence to instantly categorise all your transactions and apply them to a chart of accounts. This means that as you earn or spend money, all your books are processed without lifting a finger. Thriday takes care of everything for you, giving you the peace of mind to focus on what matters.

Thriday - An alternative to Stripe that is more than a payment gateway

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

Business bank accounts

Unlimited invoices and quotes

Expense reconciliation

Receipt scanning

Cash flow forecasting

Bill payment tracker

Automated bookkeeping

Budget tracking

BAS lodgment

Management reports

Enjoy these great Thriday features

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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