It’s always stressful (and more than a little frustrating) when a tool or service you’ve come to rely on is suddenly no longer available.
This is especially true when you’re a small business owner or self-employed, and are already juggling many responsibilities without an unexpected spanner in the works.
It’s no wonder then that entrepreneurs everywhere are feeling disoriented following the sudden closure of popular accounting tool Xero Go. With a short timeframe between the announcement and September 12 shut down, many have been left with nowhere to migrate their existing financial systems.
Thankfully, Australian tech company, Thriday, has emerged as a streamlined and cost-efficient alternative: seeing a 319 per cent spike in new customers since Xero Go closed. And, thanks to its innovative, AI-powered technology, it couldn’t be easier to move everything over and hit the ground running.
An all-rounder bank account for business owners
If you’re a small to medium business owner or a freelancer, in the past you would have had to use separate tools for project quotes and proposals, invoices, accounting and tax reconciling — which can quickly become expensive and cumbersome. Designed thoughtfully for the self-employed, Thriday puts all of these features in one convenient app that you can access on mobile or desktop.
From SMS invoices to automated reminders, early payment rewards and late fees, the platform has a plethora of features to help you get paid faster. What’s even better is, it’s easy and seamless to reconcile those payments once they come in (no bookkeeper required). Not only does Thriday instantly mark your invoices as paid when the money hits your bank account, it can also automatically categorise expenses, track income and provide up-to-date financial reports.
Another highlight that is sure to appeal to previous Xero Go users is the automated allocations feature. Eliminating the need for manual budgeting, this allows you to set up automated rules to allocate income to different expense categories and savings accounts — including somewhere to put your tax aside. Giving you a clear picture of your financial health, this helps make tax time a breeze. Speaking of which, Thriday can even take care of that on your behalf with its integrated tax lodgement feature – no bookkeeper or accountant required.
A flexible system to make your money work harder for you
Beyond its high-tech features, Thriday also offers one of the most generous interest-bearing savings accounts in the game. With a market leading interest rate of 3.35 per cent, you can leave your earnings to grow on autopilot. Plus, unlike many other business accounts that operate like a term deposit, you’ll have easy access to your funds whenever you need them.
Vanessa, a sole trader from Melbourne, was one of the many business owners left blindsided by the closure of Xero Go. After transitioning to Thriday, she’s already seeing the benefits:
“I was really disappointed when Xero announced they were retiring the app. After hearing about Thriday, I decided to give it a try – and I haven’t looked back since,” Vanessa says. “The automated bookkeeping is a lifesaver, and the interest savings account has really helped me grow my cash reserves. It’s been a game changer for my business.”
Ready to see what Thriday can do for your business? You can try it for free here.
All content on YourLifeChoices website is of a general nature and has been prepared without taking into account your objectives, financial situation or needs. It has been prepared with due care but no guarantees are provided for the ongoing accuracy or relevance. Before making a decision based on this information, you should consider its appropriateness in regard to your own circumstances. You should seek professional advice from a financial planner, lawyer or tax agent in relation to any aspects that affect your financial and legal circumstances.
