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

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Zeller is a new entrant in the merchant terminal market competing against the likes of Square and Tyro. Zeller has grown really rapidly since launching in 2021. Zeller is popular with merchants as it provides a single flat transaction fee and its terminals can be purchased online or in-store at Officeworks. Zeller does not currently issue bank accounts and Visa debit cards like Thriday where funds are protected under the $250,000 Financial Claims Scheme guarantee. Zeller does not provide any bookkeeping, accounting, BAS or tax services either. Thriday is a great compliment to Zeller, as your Zeller payments can get deposited into your Thriday business bank account* and Thriday can automate the rest of your financial admin, saving you time and headaches.

STEP BY STEP GUIDE

How to switch from Zeller to Thriday

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Business bank accounts

All Thriday funds are held in your own individual business bank account* with an Authorised Deposit-Taking Institution (ADI) and are protected under the Financial Claims Scheme up to a limit of $250,000 per account holder.

Quoting software

One area that Thriday and Zeller are very different is when it comes to quotes. Zeller has recently launched an invoice offering, however if you need to send a quote first, you won't be able to do that with Zeller. Once you send a quote with Thriday, and it's approved, you can convert it to an invoice.

Automated allocations

When you earn income, you can set up automated allocations so that a percentage of your earnings get distributed to a bank account of your choice. This can be used to automate your Profit First distributions, or can be used to send a percentage of your earnings to your Super account.

Expense reconciliation

Zeller allows you to track your income via its merchant portal but when it comes to expenses it's lacking the depth that Thriday offers. Firstly, Zeller provides a card for making payments. Within Zeller, you can see your expenses from the card, but they are not automatically reconciled to a chart of accounts so it's hard to determine where your money is going. Thriday on the other hand provides a Visa Debit card, business transaction account and automated reconciliation.

Receipt scanning

Zeller does not provide any receipt scanning or reconciliation features. This is one feature where Thriday really sets itself apart from the competition like Zeller. Thriday's inbuilt receipt scanning feature is integrated, real-time and automatic. This not only saves time but increases accuracy.

Cashflow forecasting

Staying cashflow positive is a key milestone for any business, and reaching that goal can only be possible if you can track your cashflow accurately. Thriday takes the pain away from doing cashflow by automatically calculating it in real-time. Zeller does not provide any cashflow forecasting, which means business owners could be flying blind.

Bill payment tracker

Paying your suppliers on time, is part of running any business. With Thriday's unique bill manager feature, it's as easy as can be. Unlike Zeller, Thriday assists business owners in being able to pay bills and in do so, helps businesses budget and account for these expenses without any complexity at all.

Automated bookkeeping

Bookkeeping is enough to make most business owners want to pull their hair out. With Thriday, bookkeeping is a breeze and something that differentiates Thriday from Zeller quite significantly. Understanding your transactions is the basis of being able to determine what your tax bill is going to be. Thriday has eliminated the amount of time required to do bookkeeper but handling it in real time as a transaction hits your account. Zeller does not provide any bookkeeping services so you will need to pay for an accountant or bookkeeper to complete those services for you.

Budget tracking

Zeller helps merchants get paid via their streamlined payment terminals. However when it comes to tracking your budget, they are lacking key features. Thriday provides a powerful suite of tools to help business owners track their budget in real-time. These tools reduce the time required to keep on top of your expenses, whilst make it super easy to make important management decisions. When it comes to budgets, you can even set up multiple sub accounts for categories like wages, tax or opex. Thriday has the budgeting tools you need to stay cash flow positive.

BAS lodgment

Thriday is the easiest and fastest way to lodge a Business Activity Statement, or BAS, and unlike Zeller, you can do it directly from Thriday without relying on anyone else. Lodging your BAS is a key requirement for businesses that are registered for GST so Thriday has built a streamline way to lodge it. Zeller does not provide any features to lodge a BAS.

Management reports

Zeller provides a merchant payment terminal but does not provide any management reporting such as income statements, cashflow statements and balance sheet reports. Thriday, which provides powerful real-time reports, is perfect for traders who want to understand their numbers without doing the work to calculate it themselves. Thriday is a great option for Zeller merchants who want to take the next step in managing their finances.

Thriday - An alternative to Zeller that does more than payments

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

Business bank accounts

Quoting software

Automated allocations

Expense reconciliation

Receipt scanning

Cashflow forecasting

Bill payment tracker

Automated bookkeeping

Budget tracking

BAS lodgment

Management reports

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Why waste time on financial admin when Thriday can do it for you?

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