Parpera vs Thriday: What’s the Difference and Which One is Best for You?

If you're looking for a tool that will help you get your sole trader or small business finances and taxes sorted, you might be considering either Parpera or Thriday.

You might be:

• Time poor, so you want to know the solution you’re looking at will save you time and make life easier.
• Frustrated by having to use more than one method, tool or device to manage your business finances.
• Overwhelmed by the amount of business admin you have to deal with in your business: invoices, expenses, saving money for taxes.
• Looking for a way to keep your business money separate from your personal money, while also putting aside enough for your taxes etc – but you’re not sure how best to go about that.

Both Parpera and Thriday are great tools in their own right, but ultimately it comes down to understanding which one might be best for you. In this article, we’ll give you information on both tools so you can make a decision for yourself.

With that in mind, this article covers:

• Parpera vs Thriday
• What is Parpera?
• Why Parpera?
• Who is Parpera good for?
• What is Thriday and what are its features?

Note: You can try Parpera today for yourself by signing up and starting your free 30-day trial.

Parpera vs Thriday compared

What is Parpera?

Parpera is a business finance management solution that’s designed to make it easy for sole traders and small business owners to manage their business finances from one app. 

It takes minutes to sign up and when you do that you’ll also open your business account with our partner, Wise, which allows you to keep your business and personal money separate. 

Here’s just some of what you can do with Parpera: 

• Pay and keep track of business expenses with your business debit card.
• Earn a return on your business savings
• Easily create and send personalised invoices in-app to help you get paid faster. 
• Accept payments (including by card) online and in-person using payment links and QR codes.
• Manage cash flow and GST via a real-time dashboard.
• Put aside income tax and GST into separate wallets so you’re ready at tax time
• Prepare your BAS all within the Parpera App and get help with BAS lodgements

Why Parpera?

Quick and easy to sign up from your phone

The process for both sole traders and companies to sign up is quick and easy, and all done from your phone!

To get started you’ll need: 

• A smartphone with an internet connection.
• A driver's licence or passport.
• Your ABN (we can help you get an ABN if you don’t already have one).

Download the Parpera app then follow the 4-step sign-up process:

1. Sign up and verify your phone via SMS and email.
2. Set up your business profile, adding your ABN and business details.
3. Set up your personal profile and verify your identity.
4. Access your account.

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Fast and safe payments both online and in person

Parpera makes it easy to send and receive online and in-person payments with a click, with unlimited incoming and outgoing transactions. 

You can: 

• Easily create a payment link so clients can pay by card. 
• Take payments in person using QR codes.

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• Use your Parpera Business Debit Mastercard® virtually on Google Pay and Apple Pay.
• Send payments with BPAY (coming soon!).
• Quickly transfer money and pay yourself within the Parpera app.
• Send and receive bank transfers in real-time.
• Make international card payments fee-free. 

Create invoices that help you get paid faster

Since invoicing is such a vital part of running a small business, we wanted to make sure it’s easy to quickly create a professional invoice. With the Parpera App, you can do it with a few taps and in less than 30 seconds.

We know getting paid quickly and without hassle is also important to small business owners, so we’ve made sure your payment details are automatically added to each invoice and are the most prominent feature. 

With Parpera invoices you can:

• Easily save client details to reuse again.
• Set up scheduled invoice reminders, so you can get paid on time (coming soon!).
• Customise our professional invoice templates with your branding.
• Send concise emails containing just the important details like the payment link, along with a clear subject line including the invoice number.

• See real-time business insights including who’s paid and who hasn’t, plus your best-paying clients and jobs.

Earn a competitive return on your business savings

You can Earn 3.35% p.a. (variable) return* on your money, all within the Parpera App. We know every dollar counts, and we're here to make sure yours work just as hard as you do.

With Parpera Earn you can:

• Maximise your cash flow with our competitive 3.35% p.a (variable) Earn Return rate* that has no complicated terms or hidden fees
• Stress less, sit back and let your money passively grow - make your money work harder for you
• Rest easy, knowing your money is held securely with one of Australia’s ‘Big 4’ banks

* Variable return as of 21/09/2023. See our disclaimer and terms below to consider whether it’s right for you

Save time with our tax management features

The Parpera App is designed to make life easier for you as a sole trader or small business owner, and our tax management features are no different. We don’t want you to have to spend hours wading through invoices and receipts every quarter to prepare your BAS.

With Parpera you can:

• Store business receipts and invoices to show income and use for tax deductions.
• Easily categorise and tag your business expenses.

• Mark invoices automatically with GST when they’re paid
• Use our tax estimation tool to help you decide how much to set aside every month.
• Put aside money from client payments for tax. 
• Use our Xero integration if you already use it to prepare your taxes.
• AI-powered BAS estimate preparation

Tax compliance sorted whether or not you’re registered for GST

Whether you're registered for GST or not doesn’t matter, as Parpera is designed to help you be tax compliant either way.

You can: 

• Automatically calculate GST in invoices.
• Move money paid for GST into a separate wallet.
• Create a tax compliant invoice whether you need to add GST or not.

We're here to help when you need us

We know how frustrating it can be not to be able to get hold of some help when you need it, so we offer multiple ways to get in touch. We take a human approach to customer service, and this is available 24/7 via chat, email, or phone.

As well as our money management platform, you get access to a bigger community as well.  You get the opportunity to test new features before they're rolled out, take part in discussions and share feedback with us. We also offer extra benefits such as events, webinars and discounts on Parpera partner services.

An affordable, tax-deductible monthly fee with no hidden costs

We’re up front about cost and believe in full transparency. Our name reflects this, since Parpera is Latin for "fair wallet".

With Parpera, you’ll never find yourself having to pay any unexpected, hidden fees. Instead, we have tiered pricing with multiple packages (which is tax-deductible too!):  

• Run: $15 per month.
• Pro: $35 per month.
• Automate: $75 per month.

You can try any of these packages for free for 30 days, and should you want to cancel you can easily do this at any time with the click of a button – no questions asked. 

Who is Parpera good for?

Parpera is great for: 

• Australian sole traders and small businesses (including companies)
• Freelancers who are tired of constantly switching tools to manage clients, payments and invoices and want to be able to do it all from one place.
• Those who are on the go and want a mobile app where they can do everything – think tradies or other business owners who want to send an invoice and take payment when they finish a job, instead of having to do it when they get home that night.
• Business owners who accept payments in person as well as online, and might want to take card payments too.
• Business owners who want to earn a competitive return on their money, and want to make their money work harder for them.

What is Thriday and what are its features?

Thriday is an all-in-one transaction and accounting platform for sole traders and small businesses that was founded in 2020​.

Business transaction accounts provided by Regional Australia Bank

When you become a Thriday member and your details are verified, you’ll be able to access your business transaction bank account. You can:

• Have up to nine business bank accounts.
• Make payments with your Visa Debit card wherever Visa is accepted.
• Deposit cash at Australia Post offices via Bank@Post.
• Withdraw up to $1,000 a day at ATMs across Australia.

There are some extra fees so be sure to read the FAQs and fine print to know exactly what you could be charged. 

Quoting and invoicing

When it comes to quoting and invoicing, Thriday allows you to: 

• Send quotes and invoices from the app.
• Customise the template with your logo and colours.
• Create new clients and re-use existing clients.

Pay your bills

You can scan and send bills to Thriday to automate bill payments. You can also:

• Automate accounts payable.
• Add notes and tags to your payments and attach files.
• Schedule payments.

Accounting

Thriday offers accounting features such as automatic transaction reconciliation and expense categorisation. It also automatically generates monthly reports. 

You can scan, send and save receipts on the go, and the app: 

• Automatically reconciles receipts to bank account transactions.
• Categorises your expenses.
• Recognises GST to help with tax calculations.

Tax

Thriday has a number of features designed to help you manage your taxes: 

• See when new lodgements are scheduled, available, due or overdue.
• Preview your BAS report before lodgement at an extra cost.
• Choose self-serve or accountant assisted at an extra cost.

Who is Thriday good for?

Currently, Thriday is only available to sole traders, so they’re good for sole traders who want to automate as much as possible. It’s also best for those who aren’t easily overwhelmed by having a lot of features available. 

Parpera or Thriday: the choice is yours

In this article, we compared Parpera vs Thriday, looking at the features and differences between the two platforms. Now it’s over to you to decide which one might work best for you and your business. 

You can try both platforms for free for 30 days, so why not download the Parpera app today and see how well it works for you?

Download Parpera today and start your free 30-day trial.