Thriday vs Hnry - Which Is Better For You?

Struggling to find the perfect financial management tool for your business? 

You're not alone.

Choosing between 2 solutions can be overwhelming, especially when both offer unique features tailored to different needs.

Mainly because making the wrong choice could result in inefficiencies and added stress.

To help you with this, we'll break down the key differences between Thriday and Hnry, helping you understand which platform best aligns with your business or freelance requirements.

Ready to simplify your financial management?

Let's dive into the comparison and determine which solution is perfect for you!

Thriday Overview

Thriday is a comprehensive financial management platform designed to simplify accounting and tax processes for small businesses.

It provides real-time insights into your business's financial health.

With features like built-in transaction accounts, a Visa Debit card, invoicing, and receipt scanning, Thriday offers complete control over your finances.

Furthermore, the platform ensures that you can manage your financial tasks efficiently, whether you're sending quotes, reconciling receipts, or automating tax calculations.

Thriday’s Top Features

👉 Instant Bank Account Creation – Open a bank account instantly and create multiple accounts to implement the Profit First system for better budgeting.

👉 Visa Debit Card Payments – Make payments easily with your Visa Debit card wherever Visa is accepted, and manage cash deposits and withdrawals across Australia.

👉 Receipt Reconciliation – Scan, send, and save receipts on the go, with automatic reconciliation to bank transactions and smart GST recognition for BAS and tax calculations.

👉 Effortless Quotes and Invoicing – Send quotes via email and SMS, customize templates with your logo, tag quotes for easy tracking, and set automated reminders to get paid faster.

👉 Automated Payment Reminders – Schedule invoices, offer early payment incentives, add attachments and photos, and send invoices from your app anytime, anywhere.

👉 AI-Powered Bill Payments – Automate accounts payable, add notes and tags, attach files for easy reference, transfer funds between accounts, and send automated payment notifications to suppliers.

👉 Simplified Accounting – Automate transaction reconciliation, categorization, and report generation, eliminating the need for bank feeds or manual setup, making bookkeeping easy for small businesses.

👉 Comprehensive Financial Reports – Access automated cash flow and tax forecasts, detailed management reports, income statements, cash flow statements, and balance sheets for complete financial visibility.

👉 Budgeting – Create accounts for taxes, wages, and salaries to manage your budget effectively and ensure financial stability.

👉 Smart Email Forwarding and Receipt Management – Set up smart email forwarding rules to send receipts directly to your Thriday inbox, quickly scan and email receipts from the app or web, and store them securely for easy access.

Thriday's FAQ: Our Top 3 Picks

1. What Business Structures Can Sign Up to Thriday?

Currently, Thriday supports Sole Traders. Support for companies, trusts, and partnerships is coming soon.

2. Are There Currency Conversion Fees?

Yes, using your Visa Debit card overseas incurs a 3.5% currency conversion fee on the transaction's value.

3. How Does Thriday Protect My Data?

Thriday prioritizes security with bank-grade systems and full data encryption. For more details, see our Privacy Policy and Security Disclosure.

What Makes Thriday Unique?

Thriday stands out with its ability to automate complex financial tasks, offering small business owners a seamless and efficient way to manage their finances.

It is ideal for entrepreneurs who want to save time on bookkeeping and focus on growing their business.

The platform's real-time insights and comprehensive reporting make financial management easier than ever.

Pricing

Thriday enables you to join free banking with its free plan, but also offers 2 premium tiers.

Hnry Overview

Hnry is an all-in-one financial management platform designed for freelancers, contractors, and self-employed individuals.

It automates tax calculations and payments, ensuring you stay on top of your financial obligations.

With the Hnry app, you can manage invoices, track expenses, and even set up automatic payments.

Hnry takes care of your accounting needs, providing peace of mind and allowing you to focus on your work.

Hnry’s Top Features

👉 No More Unexpected Tax Bills – Hnry ensures you never owe taxes unexpectedly. The money deposited into your account is yours to keep.

👉 Automated Tax Payments – It calculates, deducts, and pays your income tax, GST, Medicare, and student loan every time you get paid.

👉 Expert Tax Return Filing – Hnry's expert accountants file your tax returns for you, ensuring compliance and accuracy without any hassle.

👉 Instant Invoicing – Send invoices to any client in seconds or convert quotes to invoices with a simple tap, keeping all quotes and invoices organized.

👉 Faster Payments – Automate invoice follow-ups to get paid up to five times faster on average, improving your cash flow.

👉 Real-Time Expense Claims – Snap a photo of your receipt to claim business expenses on the go, with immediate tax relief managed by Hnry's accountants.

👉 Automatic Bill Payments – Automate payments for your mortgage, rent, utility bills, and even transfers to friends, family, or charities.

👉 Future Planning – Allocate a percentage of your income for bills, savings, or investments every time you get paid, helping you plan for the future.

👉 Expense Claim Guidance – Hnry's accountants help you understand what expenses you can and can't claim for maximum tax relief, making expense tracking easy.

👉 Payment Platform Integration – Easily integrate Hnry with existing payment platforms like Stripe or PayPal in minutes, and use an mPOS terminal for in-person payments.

Hnry's FAQ: Our Top 3 Picks

1. What Taxes Does Hnry Pay?

Hnry pays your taxes every time you get paid.

This includes Income Tax, GST, ACC/Medicare levies, student loan payments, and optional superannuation contributions.

2. How Does Hnry Calculate My Tax Rate?

Hnry adjusts your tax rates based on your earnings and deductions to keep you up-to-date and avoid end-of-year tax bills.

Accurate information about your prior earnings is essential for this system to work.

3. Does Hnry Hold On to My Money?

No, Hnry pays your taxes immediately every time you get paid. Payments are calculated, deducted, and sent directly to IRD, viewable in your myIR account.

What Makes Hnry Unique?

Hnry's unique automation of complex financial tasks makes it ideal for freelancers and self-employed professionals.

It ensures you never miss a tax payment and offers comprehensive support from expert accountants.

Hnry is perfect for those who want to simplify their financial management and focus on growing their business without the stress of accounting.

Pricing

Hnry doesn't have traditional pricing plans. Instead, they charge a 1% fee plus GST on the income deposited into your Hnry account.

Thriday vs Hnry: Key Differences

Thriday is designed specifically for sole traders and small business owners who want to streamline their financial admin and save valuable time.

So, if you run a small business and need to manage various financial tasks from a single platform, Thriday should be your pick.

Here’s why:

Thriday’s focus is on making life easier for small business owners who need an all-in-one solution to manage their financial operations effectively.

Hnry, on the other hand, is tailored for a diverse range of independent earners.

Whether you're a photographer, tradie, driver, freelance designer, business analyst, or real estate agent, Hnry takes the hassle out of tax and compliance.

Here's how:

However, Hnry does not currently support those trading through a registered company.

If you’re a sole trader, you can still claim business expenses and operate under a trading name without needing a company structure.

Thriday vs Hnry - Which One to Choose?

👉 Choose Thriday if you are a small business owner or sole trader needing an integrated platform to manage your entire financial operations.

Thriday’s comprehensive tools and automation can save you significant time and effort.

👉 Choose Hnry if you are an independent earner from any profession needing hassle-free tax and compliance management.

Hnry’s specialized services ensure your tax obligations are handled accurately, letting you focus on your work.

And for those still seeking the right solution, we have a third option: Meet ANNA.

How can ANNA Help You Simplify Your Finances?

ANNA is designed to simplify business financial management by offering a seamless way to handle company registration, accounting, tax calculations, and invoicing.

This all-in-one platform streamlines the administrative tasks of running a business, making it easier for you to focus on growth and success.

ANNA One’s Top Features

✔️ Easy Company Registration – Hassle-free setup of your business with all necessary registrations handled by ANNA.

✔️ Business Documents Management – Store and manage receipts, invoices, and company documents in one place, with automated transaction matching and detail extraction.

✔️ Automatic Tax Calculations – Stay up-to-date with tax reporting, optimize your tax bill, and gain insights into upcoming tax obligations based on business expenses and income.

✔️ Support from Expert Accountants – Access friendly support for any queries via email, with assistance on annual company tax returns, BAS, and GST calculations.

✔️ Efficient Invoicing – Create professional invoices quickly, with automated follow-up on unpaid invoices to ensure prompt payment. ANNA's invoicing feature ensures 80% of invoices are paid within a week.

✔️ Bookkeeping Score – Monitor your bookkeeping with tips on maintaining tidy records, automated receipt matching, and categorization for optimal tax relief.

✔️ Debit and Virtual Cards – Open an ANNA business account to get a credit card, virtual cards, and expense cards for employees, supporting Apple Pay and Google Pay.

✔️ Comprehensive Tax Management – Manage all taxes, including company income tax, GST, and annual tax filing, with automatic expense sorting to optimize tax bills.

✔️ GST Management – Automatic GST calculation and direct logging with the ATO, ensuring accurate and timely tax compliance.

✔️ Time-Saving Financial Management – Consolidate all business accounting and admin in one place, connect other bank accounts for a complete financial overview, and automate receipt sorting to reduce paperwork.

ANNA'S FAQ: Our Top 3 Picks

1. What Information and Documents Are Required to Register a Company?

You’ll need:

Directors must reside in Australia and have a Director ID if appointed after November 1, 2021.

2. How Much Does It Cost to Register a Company in Australia with ANNA?

ANNA offers 2 budget-friendly packages for company registration. Check out our plans and pricing to find one that suits your needs.

3. Who Can Register a Company?

Anyone over 18 in Australia with at least one director residing in Australia and a registered address in the country.

Currently, we register companies with a single director and shareholder, accepting applications from Australian residents only.

What Makes ANNA Unique?

ANNA offers an integrated approach to business financial management, combining company registration, accounting, tax, and invoicing in one platform.

It's perfect for small business owners and independent earners who need a reliable, all-in-one solution to manage their finances efficiently.

ANNA's automated features and expert support make it an invaluable tool for streamlining your business operations and ensuring financial compliance.

Ready for a ride?

Get started with ANNA One today and ensure your finances are expertly managed.

From a personalized tax calendar to dedicated support from expert accountants, ANNA One has you covered!