{"id":114149,"date":"2025-03-01T23:33:00","date_gmt":"2025-03-01T23:33:00","guid":{"rendered":"https:\/\/arielle.com.au\/?p=114149"},"modified":"2025-07-31T23:59:43","modified_gmt":"2025-07-31T23:59:43","slug":"myob-solo-vs-hnry","status":"publish","type":"post","link":"https:\/\/arielle.com.au\/myob-solo-vs-hnry\/","title":{"rendered":"MYOB Solo Vs Hnry: Which Is Best For Sole Traders?"},"content":{"rendered":"<span class=\"span-reading-time rt-reading-time\" style=\"display: block;\"><span class=\"rt-label rt-prefix\">Reading Time: <\/span> <span class=\"rt-time\"> 9<\/span> <span class=\"rt-label rt-postfix\">minutes<\/span><\/span>\n<p>You&#8217;re a sole trader. Good news? You&#8217;re the boss. Noone tells you what to do. The bad news? The ATO expects you to keep track of your accounting and tax. And if you&#8217;re not using the right software, this can eat many of your precious billable hours each month.<\/p>\n\n\n\n<p>Switching from spreadsheets to &#8220;grown-up&#8221; accounting software was one of the first things I did when I started freelancing 10 years ago.<\/p>\n\n\n\n<p>Back then, your options were limited. <\/p>\n\n\n\n<p>You had to buy a <a href=\"https:\/\/arielle.com.au\/best-accounting-software-for-small-business\/\">comprehensive accounting software package<\/a>, even though most of its features were useless to you.<\/p>\n\n\n\n<p>Fast forward to today, and you have several options specifically built for sole traders. Today I&#8217;m comparing NZ-based accounting app Hnry with a fresh market entrant, <a class=\"thirstylink\" rel=\"nofollow noindex\" target=\"_blank\" title=\"MYOB Solo\" href=\"https:\/\/arielle.com.au\/recommends\/myob-solo\/\" data-shortcode=\"true\">Solo by MYOB<\/a>.&nbsp;<\/p>\n\n\n\n<div style=\"height:30px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<figure class=\"wp-block-table is-style-stripes\"><table><thead><tr><th class=\"has-text-align-left\" data-align=\"left\"><strong>Key Takeaways.<\/strong><\/th><\/tr><\/thead><tbody><tr><td class=\"has-text-align-left\" data-align=\"left\"><strong>Solo by MYOB<\/strong>&nbsp;is easy to use and ideal for active sole traders who prefer to handle business via a mobile phone.<\/td><\/tr><tr><td class=\"has-text-align-left\" data-align=\"left\"><strong>Hnry<\/strong>&nbsp;helps you cover your tax obligations by automatically calculating and subtracting a portion of every payment.<\/td><\/tr><tr><td class=\"has-text-align-left\" data-align=\"left\"><strong>Both <\/strong>apps improve business admin, but you\u2019ll pay more for unnecessary features if you don\u2019t want to entrust Hnry with your money and tax lodgements.<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<div style=\"height:40px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>Solo By MYOB vs Hnry: My Quick &amp; Dirty Verdict.<\/strong><\/h2>\n\n\n\n<p><a class=\"thirstylink\" rel=\"nofollow noindex\" target=\"_blank\" title=\"MYOB Solo\" href=\"https:\/\/arielle.com.au\/recommends\/myob-solo\/\" data-shortcode=\"true\">Solo by MYOB<\/a> is mobile-only but packs the essentials a solopreneur needs \u2014 invoicing, payments, expenses, cash flow visibility and GST reporting \u2014 into a user-friendly interface.<\/p>\n\n\n\n<p>It ticks a lot of boxes for people who don\u2019t like sitting at a desk, or need to manage admin on the move. <\/p>\n\n\n\n<p>For example:<\/p>\n\n\n\n<div class=\"arrow-wrapper\"><div class=\"arrow-list\"><ul><li><strong>Sole traders<\/strong> who mostly perform physical or outdoor work.<\/li><li><strong>Tradies<\/strong> and others who usually deliver services on-site.<\/li><li><strong>Businesses <\/strong>taking in-person payments at events or retail spaces.\u00a0<\/li><\/ul><\/div><\/div>\n\n\n\n<div class=\"wp-block-create-block-tip-block tip-wrapper\"><div class=\"row\"><div class=\"col-md-12\"><div class=\"card-wrapper\"><div class=\"card-title\"><div class=\"icon\"><svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"20\" height=\"20\" viewBox=\"0 0 20 20\" fill=\"none\"><path fill-rule=\"evenodd\" clip-rule=\"evenodd\" d=\"M7.5 14.33a5 5 0 1 1 5 0v4.17h-5v-4.17Zm4.25-1.3-.75.44V17H9v-3.53l-.75-.44a3.5 3.5 0 1 1 3.5 0Z\" fill=\"#656E83\"><\/path><path d=\"M9.25 1v2h1.5V1h-1.5ZM5.53 4.47l-1.5-1.5-1.06 1.06 1.5 1.5 1.06-1.06ZM15.53 5.53l1.5-1.5-1.06-1.06-1.5 1.5 1.06 1.06ZM1 10.75h2v-1.5H1v1.5ZM17 10.75h2v-1.5h-2v1.5Z\" fill=\"#656E83\"><\/path><\/svg><\/div><h3 placeholder=\"Tip Title Goes Here\">Important!<\/h3><\/div><div class=\"card-content\"><p placeholder=\"Tip Content Goes Here\">Solo\u2019s cost reflects its minimalist approach. Less than $150 per year for all the basics. <\/p><\/div><\/div><\/div><\/div><\/div>\n\n\n\n<p>Solo by MYOB and Hnry both target sole traders, but they require a very different level of commitment:<\/p>\n\n\n\n<div class=\"arrow-wrapper\"><div class=\"arrow-list\"><ul><li><strong>Solo<\/strong> lets you digitise business admin via a mobile app.<\/li><li><strong>Hnry<\/strong> takes your payments, to extract and submit your tax for you.<\/li><\/ul><\/div><\/div>\n\n\n\n<div class=\"wp-block-create-block-tip-block tip-wrapper\"><div class=\"row\"><div class=\"col-md-12\"><div class=\"card-wrapper\"><div class=\"card-title\"><div class=\"icon\"><svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"20\" height=\"20\" viewBox=\"0 0 20 20\" fill=\"none\"><path fill-rule=\"evenodd\" clip-rule=\"evenodd\" d=\"M7.5 14.33a5 5 0 1 1 5 0v4.17h-5v-4.17Zm4.25-1.3-.75.44V17H9v-3.53l-.75-.44a3.5 3.5 0 1 1 3.5 0Z\" fill=\"#656E83\"><\/path><path d=\"M9.25 1v2h1.5V1h-1.5ZM5.53 4.47l-1.5-1.5-1.06 1.06 1.5 1.5 1.06-1.06ZM15.53 5.53l1.5-1.5-1.06-1.06-1.5 1.5 1.06 1.06ZM1 10.75h2v-1.5H1v1.5ZM17 10.75h2v-1.5h-2v1.5Z\" fill=\"#656E83\"><\/path><\/svg><\/div><h3 placeholder=\"Tip Title Goes Here\">Expert Tip.<\/h3><\/div><div class=\"card-content\"><p placeholder=\"Tip Content Goes Here\">While both apps work for invoicing and recording expenses, Hnry requires you to give up much more control.<\/p><\/div><\/div><\/div><\/div><\/div>\n\n\n\n<p>When you sign-up to Hnry, the platform:<\/p>\n\n\n\n<div class=\"arrow-wrapper\"><div class=\"arrow-list\"><ul><li><strong>Creates<\/strong> a client trust account managed by a bank (you\u2019ll get a BSB and account number). This is where your customer\/client\u2019s payments will go.<\/li><li><strong>Calculates<\/strong> and automatically extracts and submits income tax and other liabilities (e.g., super, student loan) from each payment, then sends you the balance.<\/li><li><strong>Lodges<\/strong> your annual returns for you, with accountants on hand to answer questions.<\/li><li><strong>Pockets<\/strong> a small percentage of every payment in fees (capped at $1,500 + GST annually).<\/li><\/ul><\/div><\/div>\n\n\n\n<p>If you truly dread doing your finances, it should save you a lot of time and stress.<\/p>\n\n\n\n<p><strong>(Related: <a href=\"https:\/\/arielle.com.au\/myob-vs-xero\/\">MYOB vs Xero: The Ultimate Showdown<\/a>).<\/strong><\/p>\n\n\n\n<p>Personally, I prefer to review and manage those details myself, and I don\u2019t find the ATO\u2019s systems too onerous. <\/p>\n\n\n\n<p>Plus, it\u2019s important to me to get paid into my own bank account (I\u2019ve got a regular automatic transfer into a \u2018tax\u2019 savings account) so I can earn interest and have cash available for rainy days.<\/p>\n\n\n\n<div class=\"wp-block-create-block-tip-block tip-wrapper\"><div class=\"row\"><div class=\"col-md-12\"><div class=\"card-wrapper\"><div class=\"card-title\"><div class=\"icon\"><svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"20\" height=\"20\" viewBox=\"0 0 20 20\" fill=\"none\"><path fill-rule=\"evenodd\" clip-rule=\"evenodd\" d=\"M7.5 14.33a5 5 0 1 1 5 0v4.17h-5v-4.17Zm4.25-1.3-.75.44V17H9v-3.53l-.75-.44a3.5 3.5 0 1 1 3.5 0Z\" fill=\"#656E83\"><\/path><path d=\"M9.25 1v2h1.5V1h-1.5ZM5.53 4.47l-1.5-1.5-1.06 1.06 1.5 1.5 1.06-1.06ZM15.53 5.53l1.5-1.5-1.06-1.06-1.5 1.5 1.06 1.06ZM1 10.75h2v-1.5H1v1.5ZM17 10.75h2v-1.5h-2v1.5Z\" fill=\"#656E83\"><\/path><\/svg><\/div><h3 placeholder=\"Tip Title Goes Here\"><strong>Important!<\/strong><\/h3><\/div><div class=\"card-content\"><p placeholder=\"Tip Content Goes Here\">Your Hnry account isn\u2019t a bank account. However, Hnry keeps customer funds separate from its business operations, held in trust, and protected from creditors should the business close.<\/p><\/div><\/div><\/div><\/div><\/div>\n\n\n\n<p>Keep in mind, a common gripe in Hnry reviews is a lack of responsiveness around tax time. <\/p>\n\n\n\n<p>You\u2019ll also find a few people who say Hnry over or under-estimated their tax burden, or didn\u2019t correctly lodge the funds.<\/p>\n\n\n\n<div class=\"indent-wrapper\"><div class=\"indented-text\"><span><em>Want more oversight or contextualised guidance? You\u2019ll probably get more peace of mind by using accounting software and then directly engaging an accountant.<\/em><\/span><\/div><\/div>\n\n\n\n<div style=\"height:30px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<figure class=\"wp-block-table is-style-stripes\"><table><thead><tr><th class=\"has-text-align-left\" data-align=\"left\"><strong>Solo by MYOB Is Best For:<\/strong><\/th><th class=\"has-text-align-left\" data-align=\"left\"><strong>Hnry Is Best For:<\/strong><\/th><\/tr><\/thead><tbody><tr><td class=\"has-text-align-left\" data-align=\"left\"><strong>Sole&nbsp;traders<\/strong> who prefer on-the-go business admin via a mobile device.<\/td><td class=\"has-text-align-left\" data-align=\"left\"><strong>Sole traders <\/strong>with simple operations who want to automate tax admin.<\/td><\/tr><tr><td class=\"has-text-align-left\" data-align=\"left\"><strong>Mobile app<\/strong> usability and in-person payments using your mobile.<\/td><td class=\"has-text-align-left\" data-align=\"left\"><strong>Self-employed <\/strong>professionals on contracts, and freelancers.<\/td><\/tr><tr><td class=\"has-text-align-left\" data-align=\"left\"><strong>Frugal <\/strong>solopreneurs with basic accounting needs.<\/td><td class=\"has-text-align-left\" data-align=\"left\"><strong>Sole traders <\/strong>who need to charge clients for materials.<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<div style=\"height:40px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>1. Set-Up Speed.<\/strong><\/h2>\n\n\n\n<div style=\"height:30px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<figure class=\"wp-block-table is-style-stripes\"><table><tbody><tr><td><strong>Solo by MYOB:<\/strong><\/td><td>9\/10<\/td><\/tr><tr><td><strong>Hnry:<\/strong><\/td><td>6\/10<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<p>You can\u2019t trial Hnry, and you\u2019ll need to provide additional information and personal details to start using it.<\/p>\n\n\n\n<p>Specifically, for Hnry to work effectively you\u2019ll need to:<\/p>\n\n\n\n<div class=\"arrow-wrapper\"><div class=\"arrow-list\"><ul><li><strong>Share<\/strong> details about your earnings across all income sources, including for the financial year before you signed-up.<\/li><li><strong>Verify<\/strong> your identity by submitting a valid document (e.g., passport, driver licence).<\/li><li><strong>Provide<\/strong> your tax file number (TFN).<\/li><li><strong>Upload<\/strong> or transfer all your business expenses from the current financial year incurred before you signed-up.<\/li><\/ul><\/div><\/div>\n\n\n\n<p>These steps are necessary to ensure the app can correctly calculate your likely deductions and tax rate going forward. And to authorise Hnry to process payments and tax lodgements on your behalf.<\/p>\n\n\n\n<div class=\"indent-wrapper\"><div class=\"indented-text\"><span><em>But you won\u2019t pay any fees until you start accepting payments via your Hnry account. <\/em><\/span><\/div><\/div>\n\n\n\n<p>Apart from the extra effort involved, I found Hnry\u2019s sign-up process well-guided. As I explored, the pop-ups were unobtrusive and useful \u2014 and the in-built bot and help articles were helpful.<\/p>\n\n\n\n<div class=\"wp-block-create-block-tip-block tip-wrapper\"><div class=\"row\"><div class=\"col-md-12\"><div class=\"card-wrapper\"><div class=\"card-title\"><div class=\"icon\"><svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"20\" height=\"20\" viewBox=\"0 0 20 20\" fill=\"none\"><path fill-rule=\"evenodd\" clip-rule=\"evenodd\" d=\"M7.5 14.33a5 5 0 1 1 5 0v4.17h-5v-4.17Zm4.25-1.3-.75.44V17H9v-3.53l-.75-.44a3.5 3.5 0 1 1 3.5 0Z\" fill=\"#656E83\"><\/path><path d=\"M9.25 1v2h1.5V1h-1.5ZM5.53 4.47l-1.5-1.5-1.06 1.06 1.5 1.5 1.06-1.06ZM15.53 5.53l1.5-1.5-1.06-1.06-1.5 1.5 1.06 1.06ZM1 10.75h2v-1.5H1v1.5ZM17 10.75h2v-1.5h-2v1.5Z\" fill=\"#656E83\"><\/path><\/svg><\/div><h3 placeholder=\"Tip Title Goes Here\"><strong>Important!<\/strong><\/h3><\/div><div class=\"card-content\"><p placeholder=\"Tip Content Goes Here\">Both Solo and Hnry help you keep your account secure yet accessible by using biometric sign-in (face or fingerprint) to access the apps.<\/p><\/div><\/div><\/div><\/div><\/div>\n\n\n\n<p><a class=\"thirstylink\" rel=\"nofollow noindex\" target=\"_blank\" title=\"MYOB Solo\" href=\"https:\/\/arielle.com.au\/recommends\/myob-solo\/\" data-shortcode=\"true\">Getting started with Solo<\/a> was quicker. You will have to provide payment and contact details and create a password for an online MYOB account.<\/p>\n\n\n\n<p>You get 14 days to trial the product for free, and cancel if you like, before it switches over to a monthly subscription.<\/p>\n\n\n\n<p>Once you\u2019ve generated your account credentials, you just download the Solo mobile app (iOS or Android) \u2014 log-in and start setting up.<\/p>\n\n\n\n<p><strong>(Related: <a href=\"http:\/\/arielle.com.au\/best-crypto-exchange-australia\/\">7 Best Crypto Exchanges In Australia<\/a>).<\/strong><\/p>\n\n\n\n<p>For instance, you\u2019ll be asked to add your business name and whether you\u2019re registered for GST. You\u2019ll also be prompted to connect your bank account and customise your invoice template.&nbsp;&nbsp;<\/p>\n\n\n\n<div class=\"indent-wrapper\"><div class=\"indented-text\"><span><em>The app\u2019s menu is straightforward and its subtle pop-ups on first use help you find everything you need. <\/em><\/span><\/div><\/div>\n\n\n\n<p>Solo\u2019s app also incorporates help articles and a responsive digital assistant within the app.<\/p>\n\n\n\n<div class=\"wp-block-create-block-tip-block tip-wrapper\"><div class=\"row\"><div class=\"col-md-12\"><div class=\"card-wrapper\"><div class=\"card-title\"><div class=\"icon\"><svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"20\" height=\"20\" viewBox=\"0 0 20 20\" fill=\"none\"><path fill-rule=\"evenodd\" clip-rule=\"evenodd\" d=\"M7.5 14.33a5 5 0 1 1 5 0v4.17h-5v-4.17Zm4.25-1.3-.75.44V17H9v-3.53l-.75-.44a3.5 3.5 0 1 1 3.5 0Z\" fill=\"#656E83\"><\/path><path d=\"M9.25 1v2h1.5V1h-1.5ZM5.53 4.47l-1.5-1.5-1.06 1.06 1.5 1.5 1.06-1.06ZM15.53 5.53l1.5-1.5-1.06-1.06-1.5 1.5 1.06 1.06ZM1 10.75h2v-1.5H1v1.5ZM17 10.75h2v-1.5h-2v1.5Z\" fill=\"#656E83\"><\/path><\/svg><\/div><h3 placeholder=\"Tip Title Goes Here\"><strong>Expert Tip.<\/strong><\/h3><\/div><div class=\"card-content\"><p placeholder=\"Tip Content Goes Here\">Both Solo and Hnry are designed for a single user \u2014 neither app supports payroll, if you plan to expand your team in future.<\/p><\/div><\/div><\/div><\/div><\/div>\n\n\n\n<div style=\"height:40px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>2.<\/strong> <strong>Usability And Mobile App.<\/strong><\/h2>\n\n\n\n<div style=\"height:30px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<figure class=\"wp-block-table is-style-stripes\"><table><tbody><tr><td><strong>Solo by MYOB:<\/strong><\/td><td>9\/10<\/td><\/tr><tr><td><strong>Hnry:<\/strong><\/td><td>7\/10<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<p>Every interface in Hnry and Solo is built with its sole trader audience in mind. <\/p>\n\n\n\n<p>The bloat and cryptic language that comes with full-stack accounting tools aimed at bookkeepers and finance managers is missing. <\/p>\n\n\n\n<p>Thank God.<\/p>\n\n\n\n<div class=\"indent-wrapper\"><div class=\"indented-text\"><span><em>Both products&#8217; mobile versions make on-the-go invoicing and income\/expense tracking easy.<\/em><\/span><\/div><\/div>\n\n\n\n<p>But because Solo is leaner and designed as a native app, it outperforms Hnry for usability.<\/p>\n\n\n\n<p>Pretty poor app store review averages for Hnry (4.1 on Google Play, 3.5 on Apple) seem to largely be related to glitches\/bugs and customer service delays, which I didn\u2019t experience.<\/p>\n\n\n\n<p>Things Solo\u2019s mobile app does better:<\/p>\n\n\n\n<div class=\"arrow-wrapper\"><div class=\"arrow-list\"><ul><li><strong>Makes<\/strong> <strong>useful <\/strong>actions prominent on its main dashboard and menu to take you directly to capture an expense, create an invoice or add a new customer or supplier contact.\u00a0<\/li><li><strong>Alerts you<\/strong> to overdue invoices that need your attention on the dashboard so you can take steps if needed, e.g., manually send an extra reminder.<\/li><li><strong>Provides<\/strong> <strong>access<\/strong> to your connected bank feed (up to 2 accounts) on the dashboard so you can quickly review transactions and auto-match them to payments or expenses.<\/li><li><strong>Lets you<\/strong> auto-fill physical receipt and bill data by taking a photo of the document, to speed up adding expenses and keeping good records.<\/li><\/ul><\/div><\/div>\n\n\n\n<p>There\u2019s no bank feed in Hnry, as invoices you issue are paid into your Hnry account. That means no need to record that a payment has been made.<\/p>\n\n\n\n<p>But what does that mean for expenses? <\/p>\n\n\n\n<p>You\u2019ll either need to manually enter all expense details, or activate a Hnry debit card and use that to make all your business purchases.<\/p>\n\n\n\n<div class=\"wp-block-create-block-tip-block tip-wrapper\"><div class=\"row\"><div class=\"col-md-12\"><div class=\"card-wrapper\"><div class=\"card-title\"><div class=\"icon\"><svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"20\" height=\"20\" viewBox=\"0 0 20 20\" fill=\"none\"><path fill-rule=\"evenodd\" clip-rule=\"evenodd\" d=\"M7.5 14.33a5 5 0 1 1 5 0v4.17h-5v-4.17Zm4.25-1.3-.75.44V17H9v-3.53l-.75-.44a3.5 3.5 0 1 1 3.5 0Z\" fill=\"#656E83\"><\/path><path d=\"M9.25 1v2h1.5V1h-1.5ZM5.53 4.47l-1.5-1.5-1.06 1.06 1.5 1.5 1.06-1.06ZM15.53 5.53l1.5-1.5-1.06-1.06-1.5 1.5 1.06 1.06ZM1 10.75h2v-1.5H1v1.5ZM17 10.75h2v-1.5h-2v1.5Z\" fill=\"#656E83\"><\/path><\/svg><\/div><h3 placeholder=\"Tip Title Goes Here\"><strong>Expert Tip.<\/strong><\/h3><\/div><div class=\"card-content\"><p placeholder=\"Tip Content Goes Here\">Hnry\u2019s debit card comes at no extra cost, but consider the effort of redirecting any existing direct debits from your bank account or subscriptions\/payments linked to an existing credit\/debit card.<\/p><\/div><\/div><\/div><\/div><\/div>\n\n\n\n<p>A plus to Hnry\u2019s platform having a web-based interface is that you can integrate third-party apps (via Zapier) to access features like e-commerce, time tracking, or a separate invoicing tool.<\/p>\n\n\n\n<div style=\"height:40px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>3.<\/strong> <strong>Invoicing And Payments.<\/strong><\/h2>\n\n\n\n<div style=\"height:30px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<figure class=\"wp-block-table is-style-stripes\"><table><tbody><tr><td><strong>Solo by MYOB:<\/strong><\/td><td>8\/10<\/td><\/tr><tr><td><strong>Hnry:<\/strong><\/td><td>9\/10<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<p>You can\u2019t consistently turn a profit unless you\u2019re getting paid on time \u2014 so invoicing is a core function of accounting tools.<\/p>\n\n\n\n<div class=\"indent-wrapper\"><div class=\"indented-text\"><span><em>Unlimited invoicing is included with both Hnry and Solo by MYOB.<\/em><\/span><\/div><\/div>\n\n\n\n<p>Both apps let you add your logo and quickly issue a branded invoice to as many different clients\/customers as you need.<\/p>\n\n\n\n<p>But Hnry gives you more flexibility and control over how you invoice. Handy Hnry features you won\u2019t find in Solo include the ability to:<\/p>\n\n\n\n<div class=\"arrow-wrapper\"><div class=\"arrow-list\"><ul><li><strong>Add<\/strong> <strong>expenses<\/strong> recorded in the app as an untaxed \u2018client reimbursement\u2019 to cover what you\u2019ve paid for materials, etc.<\/li><li><strong>Create re-usable<\/strong> product\/service listings with a set price that you can select from a drop-down list when invoicing.<\/li><li><strong>Add a quantity<\/strong> (in addition to a value) for each invoice line item, helpful if you need to specify hours worked.<\/li><li><strong>Set a start <\/strong>and end date for when the work was, or will be, delivered, great for contract or project work.<\/li><li><strong>Schedule invoices<\/strong> to be sent at a future date and time, ideal if you prefer to manage finances in batches.<\/li><li><strong>Create recurring invoices<\/strong> for a regular service\/output that can be re-sent every week, fortnight, month or year.<\/li><\/ul><\/div><\/div>\n\n\n\n<p>That does make its invoicing form lengthier.<\/p>\n\n\n\n<p>If you\u2019re happy with space for a brief description, adding a total cost per item\/service, and selecting a due date \u2014 Solo has you covered.&nbsp;<\/p>\n\n\n\n<div class=\"wp-block-create-block-tip-block tip-wrapper\"><div class=\"row\"><div class=\"col-md-12\"><div class=\"card-wrapper\"><div class=\"card-title\"><div class=\"icon\"><svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"20\" height=\"20\" viewBox=\"0 0 20 20\" fill=\"none\"><path fill-rule=\"evenodd\" clip-rule=\"evenodd\" d=\"M7.5 14.33a5 5 0 1 1 5 0v4.17h-5v-4.17Zm4.25-1.3-.75.44V17H9v-3.53l-.75-.44a3.5 3.5 0 1 1 3.5 0Z\" fill=\"#656E83\"><\/path><path d=\"M9.25 1v2h1.5V1h-1.5ZM5.53 4.47l-1.5-1.5-1.06 1.06 1.5 1.5 1.06-1.06ZM15.53 5.53l1.5-1.5-1.06-1.06-1.5 1.5 1.06 1.06ZM1 10.75h2v-1.5H1v1.5ZM17 10.75h2v-1.5h-2v1.5Z\" fill=\"#656E83\"><\/path><\/svg><\/div><h3 placeholder=\"Tip Title Goes Here\"><strong>Important!<\/strong><\/h3><\/div><div class=\"card-content\"><p placeholder=\"Tip Content Goes Here\">Both apps make it easy to preview the invoice PDF and edit the email your customer will receive so you can check it\u2019s right or add your own messages.<\/p><\/div><\/div><\/div><\/div><\/div>\n\n\n\n<p>Solo has a better layout for reviewing invoices you\u2019ve already sent, so you can see or edit the key details, record payment, share the invoice another way (e.g., send the PDF via WhatsApp), or delete it.<\/p>\n\n\n\n<p>Both apps will helpfully email automatic reminders to late-payers. Here\u2019s how each app handles it:<\/p>\n\n\n\n<div class=\"arrow-wrapper\"><div class=\"arrow-list\"><ul><li><strong>In Solo<\/strong>, each time you create an invoice you can opt whether to turn reminders on or not. When activated, the customer will receive a series of three reminders (sent 3 days before due, on the due date, and 1 day overdue).<\/li><li><strong>For Hnry<\/strong>, you specify whether reminders should be sent when you add each client\u2019s contact details. If a client has reminders on, they\u2019ll get a message 2 days after the due date followed by a reminder every 7 days for a total of 4 weeks.<\/li><\/ul><\/div><\/div>\n\n\n\n<p>If you go with Hnry, clients can pay instantly online via a link in the invoice email (processing fees are passed on to the client). <\/p>\n\n\n\n<p>That\u2019s included in Hnry\u2019s fee, with no set-up required \u2014 easy peasy.<\/p>\n\n\n\n<p>Where Solo is a better fit is if you primarily receive bank transfers or take in-person payments by card.<\/p>\n\n\n\n<div class=\"indent-wrapper\"><div class=\"indented-text\"><span><em>Solo\u2019s \u2018Tap to Pay\u2019 feature means you can forgo buying or renting a physical card reader. Your mobile phone becomes the terminal<\/em>.<\/span><\/div><\/div>\n\n\n\n<p>Set-up of \u2018Tap to Pay\u2019 is handled within the app but you\u2019ll need to complete an application and be approved.<\/p>\n\n\n\n<div class=\"wp-block-create-block-tip-block tip-wrapper\"><div class=\"row\"><div class=\"col-md-12\"><div class=\"card-wrapper\"><div class=\"card-title\"><div class=\"icon\"><svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"20\" height=\"20\" viewBox=\"0 0 20 20\" fill=\"none\"><path fill-rule=\"evenodd\" clip-rule=\"evenodd\" d=\"M7.5 14.33a5 5 0 1 1 5 0v4.17h-5v-4.17Zm4.25-1.3-.75.44V17H9v-3.53l-.75-.44a3.5 3.5 0 1 1 3.5 0Z\" fill=\"#656E83\"><\/path><path d=\"M9.25 1v2h1.5V1h-1.5ZM5.53 4.47l-1.5-1.5-1.06 1.06 1.5 1.5 1.06-1.06ZM15.53 5.53l1.5-1.5-1.06-1.06-1.5 1.5 1.06 1.06ZM1 10.75h2v-1.5H1v1.5ZM17 10.75h2v-1.5h-2v1.5Z\" fill=\"#656E83\"><\/path><\/svg><\/div><h3 placeholder=\"Tip Title Goes Here\"><strong>Important!<\/strong><\/h3><\/div><div class=\"card-content\"><p placeholder=\"Tip Content Goes Here\">Solo offers competitive fees for taking in-person payments at 1.6% + $0.30 per transaction, which you can choose to add to your customer\u2019s bill.<\/p><\/div><\/div><\/div><\/div><\/div>\n\n\n\n<p>Here are the apps\u2019 payment options spelled out:<\/p>\n\n\n\n<div style=\"height:30px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<figure class=\"wp-block-table is-style-stripes\"><table><thead><tr><th><\/th><th class=\"has-text-align-left\" data-align=\"left\"><strong>Solo<\/strong><\/th><th class=\"has-text-align-left\" data-align=\"left\"><strong>Hnry<\/strong><\/th><\/tr><\/thead><tbody><tr><td><strong>Direct deposit into bank account.<\/strong><\/td><td class=\"has-text-align-left\" data-align=\"left\">Yes<\/td><td class=\"has-text-align-left\" data-align=\"left\">Not quite. Clients can deposit into your Hnry trust account, where tax is taken out before the balance is sent to your bank<\/td><\/tr><tr><td><strong>Online payments by card or digital wallet.<\/strong><\/td><td class=\"has-text-align-left\" data-align=\"left\">No<\/td><td class=\"has-text-align-left\" data-align=\"left\">Yes, via built-in Tyro service (no integration\/added cost). Or you can also integrate with Stripe\/PayPal<\/td><\/tr><tr><td><strong>Mobile in-person payments by card or digital wallet<\/strong><\/td><td class=\"has-text-align-left\" data-align=\"left\">Yes, by activating \u2018Tap to Pay\u2019 within the app (requires application and approval)<\/td><td class=\"has-text-align-left\" data-align=\"left\">Yes, by configuring a separate payment terminal you buy\/rent to send payments to your Hnry account<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<div style=\"height:40px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>4. <strong>Reporting And Tax Management.<\/strong><\/strong><\/h2>\n\n\n\n<figure class=\"wp-block-table is-style-stripes\"><table><tbody><tr><td><strong>Solo by MYOB:<\/strong><\/td><td>9\/10<\/td><\/tr><tr><td><strong>Hnry:<\/strong><\/td><td>9\/10<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<p>Tax management is the major selling point of Hnry, so it naturally has the advantage here.<\/p>\n\n\n\n<p>Critics of Hnry say its digital accountancy service isn&#8217;t robust enough \u2014 meaning the tax takeout isn\u2019t always accurate, and you don\u2019t get the nuanced insights to find all deductions.<\/p>\n\n\n\n<div class=\"wp-block-create-block-tip-block tip-wrapper\"><div class=\"row\"><div class=\"col-md-12\"><div class=\"card-wrapper\"><div class=\"card-title\"><div class=\"icon\"><svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"20\" height=\"20\" viewBox=\"0 0 20 20\" fill=\"none\"><path fill-rule=\"evenodd\" clip-rule=\"evenodd\" d=\"M7.5 14.33a5 5 0 1 1 5 0v4.17h-5v-4.17Zm4.25-1.3-.75.44V17H9v-3.53l-.75-.44a3.5 3.5 0 1 1 3.5 0Z\" fill=\"#656E83\"><\/path><path d=\"M9.25 1v2h1.5V1h-1.5ZM5.53 4.47l-1.5-1.5-1.06 1.06 1.5 1.5 1.06-1.06ZM15.53 5.53l1.5-1.5-1.06-1.06-1.5 1.5 1.06 1.06ZM1 10.75h2v-1.5H1v1.5ZM17 10.75h2v-1.5h-2v1.5Z\" fill=\"#656E83\"><\/path><\/svg><\/div><h3 placeholder=\"Tip Title Goes Here\">Important!<\/h3><\/div><div class=\"card-content\"><p placeholder=\"Tip Content Goes Here\">Hnry users get paid via an inaccessible trust. An algorithm decides how much tax you pay to the ATO and when \u2013 meaning you have less control over your cash flow throughout the year.<\/p><\/div><\/div><\/div><\/div><\/div>\n\n\n\n<div class=\"indent-wrapper\"><div class=\"indented-text\"><span><em>But the app has many happy devotees who love the simplicity of automated tax allocations.<\/em><\/span><\/div><\/div>\n\n\n\n<p>Hnry\u2019s reports give you an overall breakdown of income and expenses, separate expense and payment summaries, and statements for purchases made via a Hnry debit card.<\/p>\n\n\n\n<p>Solo\u2019s app offers profit and loss reports and summaries of the amount of GST you\u2019ve collected and paid, so you can determine your BAS liability. <\/p>\n\n\n\n<p>Or download the reports to share with an expert.<\/p>\n\n\n\n<p>Solo\u2019s reports give you a solid start at tax time, especially if:<\/p>\n\n\n\n<div class=\"arrow-wrapper\"><div class=\"arrow-list\"><ul><li><strong>Your<\/strong> business operations are simple, making your tax uncomplicated and easy to complete by yourself.<\/li><li><strong>You know<\/strong> you\u2019ll prefer the rigour of a separate accountant or bookkeeper you can build a personal relationship with.<\/li><\/ul><\/div><\/div>\n\n\n\n<div style=\"height:40px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>5.<\/strong> <strong>Value For Money.<\/strong><\/h2>\n\n\n\n<div style=\"height:30px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<figure class=\"wp-block-table is-style-stripes\"><table><tbody><tr><td><strong>Solo by MYOB:<\/strong><\/td><td>9\/10<\/td><\/tr><tr><td><strong>Hnry:<\/strong><\/td><td>7\/10<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<p>Hnry and Solo have two very different pricing models:<\/p>\n\n\n\n<div class=\"arrow-wrapper\"><div class=\"arrow-list\"><ul><li><strong>Solo by MYOB<\/strong> is priced very sharply at $12 for the first 12 months. Then it rolls over into $11\/month.<\/li><li><strong>Hnry<\/strong> charges a 1% + GST fee on each payment received, capped at $1,500 + GST per year. A minimum fee of $0.50 + GST applies to any payment under $50.<\/li><\/ul><\/div><\/div>\n\n\n\n<p>Solo isn\u2019t trying to be your accountant, and is very, very cheap.<\/p>\n\n\n\n<p>It\u2019s great value for the solopreneur who simply needs a more convenient, digital account-keeping system.<\/p>\n\n\n\n<p>Hnry\u2019s potential value depends greatly on whether the alternative is doing your tax yourself, or paying for professional help.<\/p>\n\n\n\n<div class=\"indent-wrapper\"><div class=\"indented-text\"><span><em>It\u2019s not unusual for a small business owner to pay upwards of $1000 a year for an accountant.<\/em><\/span><\/div><\/div>\n\n\n\n<p>If you earn $50,000 a year from your sole trader business, you\u2019ll pay $550 in fees to Hnry. If you earn over $140,000 annually, you\u2019ll hit the $1,500 + GST cap and get even better value.<\/p>\n\n\n\n<p>But if it\u2019s worth your time to DIY, or you\u2019ll feel more confident using an accountant \u2014 you\u2019ll be paying for features you don\u2019t need in Hnry.<\/p>\n\n\n\n<div style=\"height:40px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>Solo By MYOB vs Hnry : My Conclusion.<\/strong><\/h2>\n\n\n\n<p>They\u2019re not entirely different beasts, but Hnry and Solo serve two different kinds of sole trader:&nbsp;<\/p>\n\n\n\n<div class=\"arrow-wrapper\"><div class=\"arrow-list\"><ul><li><strong>Hnry<\/strong> is a boon for the financially illiterate or time poor, anyone who is keen to automate tax management using a digital tool.<\/li><li><strong>Solo<\/strong> offers a streamlined, intuitive alternative to traditionally bulky accounting software that slows down vital admin tasks.\u00a0<\/li><\/ul><\/div><\/div>\n\n\n\n<p>Hnry doesn&#8217;t offer connected bank feeds, Tap to Pay functionality or automatic data extraction from receipts. While those are nice-to-haves, I could forgive Hnry for leaving them out.<\/p>\n\n\n\n<div class=\"indent-wrapper\"><div class=\"indented-text\"><span>But the opportunity cost of paying tax before it\u2019s due is a deal-breaker for me.<\/span><\/div><\/div>\n\n\n\n<p>You might be more comfortable with the idea, if you feel it\u2019s the best way to ensure your taxes do, in fact, get paid. <\/p>\n\n\n\n<p>But I prefer to leave the funds in an S&amp;P 500 ETF, and earn a healthy 8-12% p.a. on the money.*<\/p>\n\n\n\n<p><em>* Not financial advice.<\/em><\/p>\n\n\n\n<div class=\"wp-block-create-block-tip-block tip-wrapper\"><div class=\"row\"><div class=\"col-md-12\"><div class=\"card-wrapper\"><div class=\"card-title\"><div class=\"icon\"><svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"20\" height=\"20\" viewBox=\"0 0 20 20\" fill=\"none\"><path fill-rule=\"evenodd\" clip-rule=\"evenodd\" d=\"M7.5 14.33a5 5 0 1 1 5 0v4.17h-5v-4.17Zm4.25-1.3-.75.44V17H9v-3.53l-.75-.44a3.5 3.5 0 1 1 3.5 0Z\" fill=\"#656E83\"><\/path><path d=\"M9.25 1v2h1.5V1h-1.5ZM5.53 4.47l-1.5-1.5-1.06 1.06 1.5 1.5 1.06-1.06ZM15.53 5.53l1.5-1.5-1.06-1.06-1.5 1.5 1.06 1.06ZM1 10.75h2v-1.5H1v1.5ZM17 10.75h2v-1.5h-2v1.5Z\" fill=\"#656E83\"><\/path><\/svg><\/div><h3 placeholder=\"Tip Title Goes Here\"><strong>Important!<\/strong><\/h3><\/div><div class=\"card-content\"><p placeholder=\"Tip Content Goes Here\">Solo launched in late 2024 and is still adding features as it expands its customer base, with feedback from users welcomed. It has a lot of potential if you only want a cost-effective finance tool.<\/p><\/div><\/div><\/div><\/div><\/div>\n\n\n\n<p>You can\u2019t easily \u2018step up\u2019 from Solo to a different MYOB product (for now) \u2014 but being backed by the might of a leading Australian SaaS company is reassuring for its future roadmap.<\/p>\n\n\n\n<div style=\"height:30px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<p>Jody<\/p>\n\n\n\n<div style=\"height:30px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n","protected":false},"excerpt":{"rendered":"<p><span class=\"span-reading-time rt-reading-time\" style=\"display: block;\"><span class=\"rt-label rt-prefix\">Reading Time: <\/span> <span class=\"rt-time\"> 9<\/span> <span class=\"rt-label rt-postfix\">minutes<\/span><\/span>You&#8217;re a sole trader. Good news? You&#8217;re the boss. Noone tells you what to do. The bad news? The ATO<\/p>\n","protected":false},"author":14,"featured_media":115580,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"_uag_custom_page_level_css":"","_lmt_disableupdate":"","_lmt_disable":"","footnotes":""},"categories":[289,257],"tags":[],"class_list":["post-114149","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business-software","category-business"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.0 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>MYOB Solo Vs Hnry: Which Is Best For Sole Traders?<\/title>\n<meta name=\"description\" content=\"Hnry and MYOB solo promise that you&#039;ll never have to think about your accounting again. Too good to be true?\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/arielle.com.au\/myob-solo-vs-hnry\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"MYOB Solo Vs Hnry: Which Is Best For Sole Traders?\" \/>\n<meta property=\"og:description\" content=\"Hnry and MYOB solo promise that you&#039;ll never have to think about your accounting again. 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Good news? You&#8217;re the boss. Noone tells you what to do. The bad news? The ATO","_links":{"self":[{"href":"https:\/\/arielle.com.au\/wp-json\/wp\/v2\/posts\/114149","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/arielle.com.au\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/arielle.com.au\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/arielle.com.au\/wp-json\/wp\/v2\/users\/14"}],"replies":[{"embeddable":true,"href":"https:\/\/arielle.com.au\/wp-json\/wp\/v2\/comments?post=114149"}],"version-history":[{"count":39,"href":"https:\/\/arielle.com.au\/wp-json\/wp\/v2\/posts\/114149\/revisions"}],"predecessor-version":[{"id":118892,"href":"https:\/\/arielle.com.au\/wp-json\/wp\/v2\/posts\/114149\/revisions\/118892"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/arielle.com.au\/wp-json\/wp\/v2\/media\/115580"}],"wp:attachment":[{"href":"https:\/\/arielle.com.au\/wp-json\/wp\/v2\/media?parent=114149"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/arielle.com.au\/wp-json\/wp\/v2\/categories?post=114149"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/arielle.com.au\/wp-json\/wp\/v2\/tags?post=114149"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}