How Thriday Stacks Up Against Airtax: The Ultimate Guide

February 20, 2024
7
minutes to read
by
Jaala Alex
Table of Contents

As a small business owner or sole trader in Australia, finding the right accounting software is one of the first critical decisions you must make. With so many solutions on the market, determining which suits your needs can take time and effort. In this blog, we'll compare two popular options: Airtax and Thriday. Airtax is a well-known accounting software that relies on a business owner's manual input of data. Thriday is a new player in the market, but it's quickly gaining popularity thanks to its user-friendly interface and powerful automation tools. To help you decide what's best for your business, we'll look closely at Airtax and Thriday and cover everything from the basics of each software to the more advanced features and benefits. By the end of this post, you'll have a clear understanding of the pros and cons of each option, and you'll be able to make an informed decision about which one is right for you.

What is Airtax? 

Airtax is an Australian accounting software that caters to small business owners and sole traders. The software is designed to make it easy for users to input their taxes and expenses. Some of the key features of Airtax include: 

  • BAS lodgment: Airtax makes it easy to lodge your tax returns directly with the ATO. 
  • Expense tracking: Airtax allows you to track your expenses in one place manually. 
  • Integrations: Airtax has integrations with Uber to pull driver data. 

While Airtax offers some key features, the software has some significant limitations. For example, Airtax requires manual entry of transaction data and does not support payments, which can be a drawback for small business owners with bills. Some users have also reported issues with customer support and need help navigating the software's interface.

Overall, Airtax is a solid option for sole traders who need basic accounting software. However, some limitations to the software may make it less than ideal for more complex needs. In the next section, we'll look closely at Airtax's ownership and history. 

 

Did PwC own Airtax? 

Airtax was initially owned by PwC Australia, one of the world's largest accounting firms. In 2019, Airtax was bundled and spun off as a separate company along with other PwC services and was sold to US private equity firm Clayton, Dubilier & Rice for $US2.2 billion

The acquisition by Clayton, Dubilier & Rice has meant some users have raised concerns about the impact of the purchase on Airtax's customer service and support. 

It's worth noting that while PwC owned Airtax, the software was still accessible to small business owners and sole traders, and it remains so today. However, the change in ownership may be a factor to consider when deciding between Airtax and other accounting software options. 

In the next section, we'll examine whether Airtax is a valuable option for Uber drivers. 

 

Is Airtax Useful for Uber Drivers? 

Yes, Airtax can be a useful option for Uber drivers who must manage their taxes and expenses. The software offers features such as manual mileage tracking and expense management, which can be particularly useful for those in the gig economy. 

One of the standout features of Airtax for Uber drivers is its integration with Uber's API. This integration allows Airtax to automatically import earnings and expense data directly from the Uber platform, making it easy for drivers to stay on top of their finances without manual data entry. 

However, it's worth noting that Airtax's focus on tax lodgment and basic accounting features may not be the best option for Uber drivers who need more comprehensive financial management tools. For example, Airtax does not offer payroll support or advanced reporting features, which may be necessary for some users. 

In the next section, we'll compare Airtax to Thriday to help you decide which option is right for your small business or sole trader needs.

 

How does Thriday compare to Airtax? 

Thriday is a cloud-based accounting software that offers a range of features for small business owners and sole traders. Like Airtax, Thriday allows users to manage their invoicing, expenses, and taxes all in one place. 

However, Thriday offers additional features that may make it a more comprehensive option for some users. For example, Thriday offers integrated bank accounts* and Visa Debit cards*, which can be helpful for small business owners to streamline expense management. Thriday also provides advanced reporting features, which can benefit users who need more detailed financial information. 

Integrating banking, accounting and tax into one platform makes Thriday a game-changer for small businesses. This capability powers the automation that Thriday leverages to categorise transactions, reconcile GST and make payments.

Regarding user experience, Thriday's interface is generally more user-friendly than Airtax's. Thriday also offers tax and cash flow predictions which help business owners plan ahead. 

Thriday is a better option for small business owners and sole traders who need more comprehensive accounting features, payments, and advanced reporting tools. 

In the next section, we'll examine why Thriday is a better option than Airtax for small business owners and sole traders in Australia. 

Budget like a pro with Thriday

 

Why is Thriday better than Airtax? 

There are several reasons why Thriday may be a better option than Airtax for small business owners and sole traders in Australia. 

  • Thriday offers an all-in-one financial management platform that uses AI to automate banking, accounting and tax. Thriday's software can save business owners over 90% of the time they waste on financial admin.
  • Thriday offers a more user-friendly interface and comprehensive set of features than Airtax, which can make it easier for users to manage their finances and integrate Thriday with other tools they use in their business. 
  • Thriday's pricing is very competitive, starting at $0 per month for its basic plan and moving to $29.95 for all features.

For small business owners and sole traders in Australia who need a more comprehensive accounting software option with better customer support and a user-friendly interface, Thriday is a better choice compared to Airtax. 

In the next section, we'll examine how Thriday automates accounting to save time and improve accuracy. 

Lodge BAS with Thriday

 

How does Thriday automate accounting? 

One of the key benefits of using Thriday as an accounting software is its ability to automate accounting processes, saving time and improving accuracy. 

Thriday automates tasks such as data entry, bank reconciliation, and invoicing, reducing the need for manual input and the risk of errors. Thriday also allows users to set up scheduled invoices and payments, further streamlining the accounts payable process. 

Thriday's automation features are handy for small business owners and sole traders who may not have a dedicated finance team or the resources to manage their finances manually. By automating accounting processes, Thriday allows users to focus on other aspects of their business and frees up time that can be used to grow their business. 

Track expenses with a Thriday Visa Debit card

 

Airtax FAQs 

What is Airtax? 

Airtax is an online accounting software designed for Australian small businesses and sole traders to manage their finances, including tax returns and BAS statements. 

Did PwC own Airtax? 

Yes, Airtax was developed by PwC in 2017 as a solution for small business owners and sole traders who needed to manage their finances more efficiently. 

Did PwC sell Airtax? 

Airtax was sold to private equity firm Clayton, Dubilier & Rice.

 

While Airtax is a popular accounting software in Australia, it has many limitations, which means it's generally unsuitable for small business owners and sole traders. Thriday, on the other hand, offers a more comprehensive set of features, deep automation, and a more user-friendly interface, making it a better alternative to Airtax. 

Thriday's ability to automate accounting processes, handle multiple ABNs, and integrate with other software, makes it a powerful tool for small business owners and sole traders. So, if you're looking for an Airtax alternative to help you manage your finances more efficiently and save time, we recommend joining Thriday for free. Thriday is the perfect solution for small business owners and sole traders in Australia with its comprehensive features, user-friendly interface, and exceptional customer support. 

DISCLAIMER: Team Thrive Pty Ltd ABN 15 637 676 496 (Thriday) is an authorised representative (No.1297601) of Regional Australia Bank ABN 21 087 650 360  AFSL 241167 (Regional Australia Bank).  Regional Australia Bank is the issuer of the transaction account and debit card available through Thriday. Any information provided by Thriday is general in nature and does not take into account your personal situation. You should consider whether Thriday is appropriate for you.

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