Thriday vs. Great Southern Bank: Which is best for business owners?

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Great Southern Bank, founded in 1946, is an Australian mutual bank. It operates on a customer-focused model, offering diverse financial products including home loans, savings accounts, and personal banking services. In comparison, Thriday excels as the ultimate platform for small business owners, uniting banking, accounting, and tax services in a user-friendly interface, simplifying financial management and ensuring compliance and accuracy effortlessly.

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How to switch from Great Southern Bank to Thriday

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Open bank accounts online in minutes

Thriday offers a swift online business account opening process, taking just 3 minutes. In contrast, Great Southern Bank requires customers to call their customer support for account setup, leading to longer wait times and delays.

Quick Profit First account setup

Thriday streamlines the setup of Profit First bank accounts for easy implementation. You can create all your accounts in seconds. Great Southern Bank requires a form submission for each new account, introducing manual steps and potential delays in the process.

Unlimited branded invoices and quotes

Thriday simplifies business operations by enabling unlimited, branded invoice and quote generation. In contrast, Great Southern Bank lacks automated tools, requiring users to manually craft these documents, increasing administrative workload.

Automated bill scanning and payment

Thriday employs AI to scan bills, extract due dates and amounts, and schedule payments for user approval. In contrast, Great Southern Bank lacks automated bill processing, requiring manual bill payments by customers.

BAS and tax lodgment to the ATO

Thriday automates BAS and tax return calculations, facilitating direct lodgment with the ATO. Great Southern Bank lacks tax-related services, leaving customers responsible for their own tax calculations and submissions.

Tax deduction and receipt scanning

Thriday offers receipt scanning with automatic tax deduction calculations, simplifying expense management. Great Southern Bank doesn't provide such features, requiring users to rely on external accounting software for similar tasks, adding complexity and cost.

Cash flow and tax estimates

Thriday offers real-time tax and cash flow calculations, along with an end-of-year financial prediction. Great Southern Bank lacks tax and cash flow features, leaving users without advanced financial insights and forecasts.

Instant transaction categorisation

Thriday employs an advanced AI algorithm called Luca to instantly enrich and categorise transactions, automating bookkeeping and accounting tasks seamlessly. This feature simplifies financial management for users, ensuring accuracy and efficiency.

Detailed financial reporting

Thriday generates comprehensive financial reports, offering users detailed insights into their financial status. Great Southern Bank lacks this feature, leaving customers without valuable tools for financial analysis and planning.

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.