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

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Wave is a US-based accounting platform that is no longer supporting its Australian clients. After pulling out of the Australian market, Wave has stopped accepting new customers. Thriday is designed in Australia, for Australian small business owners, which means reporting is accurate and you can lodge your BAS directly to the ATO from within the platform. Thriday is also 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.

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How to switch from Wave to Thriday

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Supported in Australia

In 2020, Wave decided to abandon the Australian market and focus on North America. Thriday is designed and built in Australia for Aussie small business owners so you never have to fear Thriday leaving its customers high and dry.

No bank feed setup

Thriday integrates a business transaction account and debit card with accounting. This means you only need to setup one system, to manage all your financial needs. Wave, which is no longer available in Australia, did require bank feeds to work.

Automated allocations

When you make money, automate the process by directing a percentage of your earnings to your preferred bank account. This streamlined approach can handle Profit First distributions effortlessly or allocate a share of your earnings to your Super account. Simplify your financial life today.

Registered tax agent (no. 26262416)

To automate 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

Wave was designed as a platform to assist accountants with supporting their clients. Thriday is designed for small business owners, and therefore you can use an accountant if you want to, but you don't need to, it's your choice. Thriday allows you to lodge your BAS directly to the ATO, and if you would like an accountant to help, Thriday can provide one as well.

No training required

Thriday was designed to work out of the box, with no training or setup required. As soon as you open an account with Thriday, you can start transacting, sending invoices and uploading receipts. Wave, which is no longer supported, is more complex and requires more accounting knowledge to operate.

Receipt scanning

Thriday's receipt scanning feature is one of it's most popular products. Thriday customers can easily take a photo, scan or upload receipts. As soon as the receipt is scanned, it's automatically reconciled to the underlying bank transaction. Wave does not provide receipt scanning functionality in the Australian market.

BAS lodgment

Having the option to lodge your BAS directly from Thriday is such a life saver for busy business owners. When your BAS is due, you are notified, and then you just have to review a few details and submit your BAS. Wave does not provide any option to lodge your BAS to the ATO.

Unlimited transactions

Wave, which does not offer transactional banking services in Australia, does not provide any ability to import bank data or setup bank feeds. Thriday on the other hand allows you to view an unlimited number of transactions.

Create free bank accounts

Thriday brings the power of 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. Built-in banking* is what differentiates Thriday from other accounting platforms. As Wave no longer supports Australian businesses, Thriday is the only product that combines accounting and tax with business bank accounts*.

Visa Debit card

Wave does not provide any banking or debit card services in the Australian market. Thriday does provide business transaction accounts and access to a Visa Debit card which can be added to Apple and Google Pay.

Pay bills

Wave, which is no longer supported in Australia, did not allow customers to pay bills. Thriday on the other hand does. With Thriday, you can easily pay all your bills and even schedule a future-dated payment.

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 Wave alternative built for Aussie small businesses