Thriday vs. Invoice2Go: Which is best for business owners?

vs.

Invoice2Go is solely focused on providing invoicing and quoting software. Invoice2Go is fairly limited in its feature set. Thriday provides invoicing and quoting as part of a much wider set of features that allows businesses to use one platform for all their financial management needs.

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Monthly subscription

With Invoice2Go you will be spending $49.95 per month, just for a plain old invoicing solution. Thriday on the other hand provides invoicing plus transaction accounts, debit cards, receipt scanning, BAS lodgment, bookkeeping, account, financial reporting, forecasting and tax for $29.95. It's quite an easy decision when you lay it out like that.

$29.95 per month

$49.99 per month

$29.95 per month

$49.99 per month

Business bank accounts

Wouldn't it be nice if your invoicing platform also provided business transaction accounts, debit cards and payments? Well the wait is over. Thriday provides all of this and more. Open multiple bank accounts* in minutes, make payments using BPAY and keep on top of your accounting in one, simple platform. Invoice2Go does not allow you to create business bank accounts in Australia as they do no offer any banking related services.

Make payments

Thriday's unique all-in-one financial management platform that combines banking, accounting and tax means that when it comes time to have to pay someone, you can just jump in and do it. Invoice2Go does not provide any ability to make payments in Australia.

Automated receipt reconciliation

If you keep receipts in a glove box or shoe box they will get crumpled and fade. This is a big issue when it comes to tax time as you're not able accurately claim your valid deductions. Thriday removes this issue by allowing you to take a photo of a receipt to keep as a digital record. To make things even better, Thriday will scan the details on the receipt, capture any GST added, and reconcile it to your bank transaction for safe keeping. Invoice2Go does not provide any receipt reconciliation features.

App based two-factor authentication

Invoice2Go still relies on SMS and email based two-factor authentication. This is not only cumbersome but has proven to be insecure in many cases. Thriday places your security and trust at a premium. Because of this Thriday relies on an app based two-factor authentication method which requires you to login and accept a push notification request to your device. This is a better user experience and also more secure for the business owner.

Real-time bookkeeping

Do you still order a taxi? Do you still pay in cash? Do you still use a typewriter? Then why do you still pay an expensive bookkeeper to do your bookkeeping. We love bookkeepers, don't get us wrong, but they are not really suited to smaller, simple businesses. Thriday has automated bookkeeping by using artificial intelligence and machine learning to instantly categorise your transactions to the correct chart of accounts. Invoice2Go does not provide any bookkeeping services to its clients.

Automated income reconciliation

One of the superpowers that Thriday possesses, is that by combining the business transaction account with invoicing means that as soon as the income hits your Thriday account, it gets reconciled and the status of your invoice changes to Paid. It's quite incredible! This means that you know instantly if an invoice has been paid and there is no awkward follow ups with clients. Because Invoice2Go does not provide banking services they are unable to automatically reconcile to the income to an invoice.

BAS lodgment

Once your invoices have been paid, the next link in the chain is GST reconciliation and BAS lodgment. If you are GST registered, you will need to include taxes in your invoices. Once those invoices are paid, any GST you receive needs to be tallied up and deducted from any GST you paid. The net of this determines if you need to pay tax or not. Thriday handles all of this for your. Thriday calculates the GST you received, and the GST you paid automatically, you can then lodge your BAS directly to the Australian Tax Office from within Thriday. Invoice2Go does not provide any BAS lodgement features as part of its platform.

Cashflow and tax predictions

When it's time to make an important business decision you want to have all the available information at your fingertips. One of the best life hacks for that is to have an understanding of your predicted cashflow and tax position. Knowing these two bits of information will basically tell you how much you can afford to spend, and also how much you should expect to have saved for the end of the year if a tax bill is expected. Thriday thankfully provides this information without the business owner having to do any work. Invoice2Go does not provide any information on cashflow and tax predictions as part of its product features.

Visa Debit card

Invoice2Go does not provide any transactional banking capabilities as it only focuses on invoices and quotes. With Thriday you can not only issue invoices and quotes, but you can use your Visa Debit card to transact and make purchases anywhere Visa is accepted. Do more, in one platform, than anywhere else, thanks to Thriday.

Thriday - An Invoice2Go alternative built for Aussie small businesses

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

Monthly subscription

Business bank accounts

Make payments

Automated receipt reconciliation

App based two-factor authentication

Real-time bookkeeping

Automated income reconciliation

BAS lodgment

Cashflow and tax predictions

Visa Debit card

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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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