Wave Accounting offers free software, meaning you won’t need to submit a credit card or payment information to use it. It can help you manage your bookkeeping, accounting and invoicing processes through a few internal integrations. If you’re a small business owner in search of free, cloud-based accounting software, Wave Accounting is worth considering. This is particularly true if you don’t have much accounting experience and would like an easy-to-use, fully functional tool. It’s one of the only truly free options on the market and can allow you to manage your accounting processes in one convenient place. NerdWallet’s accounting software ratings favor products that are easy to use, reasonably priced, have a robust feature set and can grow with your business.
Wave’s free plan offers a decent number of features, like unlimited invoices, that are not always included with other free accounting software options, let alone paid accounting software plans. It also complies with accounting standards and uses double-entry accounting, which can help ensure accuracy. You can effectively analyze the financial health of your business, find ways to generate more profit, and move forward with your business plan. Create beautiful invoices, accept online payments, and make accounting easy—all in one place—with Wave’s suite of money management tools. If you’re a startup, micro-business or sole proprietor who doesn’t want to invest in accounting software but needs to keep track of your finances, Wave Accounting is a great option.
App support
If you need to manually edit, add or remove any transactions, you can do so on the Reconciliation or Transactions pages. Next, you can add sales tax (if necessary), create customer profiles and customize your invoice templates. Includes tools that help automate the reconciliation process and auto-categorizes transactions for you in due diligence auditing the Pro plan, but you can’t set up your own bank rules; no global search function. Our partners cannot pay us to guarantee favorable reviews of their products or services. Give your customers the option of paying with one click using a credit card, bank transfer, or Apple Pay. You can invite your accountants, bookkeepers or other business partners to Wave via email and designate their user roles.
Pocket- and small business-friendly perks
The best accounting software received the canadian employer’s guide to the t4 top marks when evaluated across 10 categories and more than 30 subcategories. Learn more about how we rate small-business accounting software. Wave Accounting is ideal for micro businesses with fewer than 10 employees, contractors, freelancers and other service-based businesses on a budget.
Our tools work together,so you work less.
Monitor your cash flow, stay organized, and stop sweating tax season. Say #sorrynotsorry to your spreadsheets and shoeboxes. Where Wave falls behind, however, is its customer support. There’s no live support unless you pay for it so you’ll have to dig for the answers to your questions in the help center or cross your fingers that the automated chatbot will help you out. QuickBooks Online’s detailed reporting and transaction tracking is ideal for growing businesses. “Wave invoicing makes your life a whole lot easier and takes that worry off you. I’ve tried Quickbooks—it’s a bit more complicated and technical, and takes more time to set up.”
For example, QuickBooks Online doesn’t have a free plan, but offers four paid plans, each with additional features, making it a great choice for scalability. With the higher-tier QuickBooks plans, you have access to inventory management, billable expenses and project profitability tools, none of which are offered with Wave. In addition to its accounting software, Wave offers paid services, including Wave Payments, Wave Payroll and Wave Advisors for bookkeeping support and accounting coaching. With Wave, you’ll be able to send unlimited, customized invoices to your customers, manage an unlimited number of expenses and track unlimited receipts through its receipt scanning and capture feature.
For more information, see the developer’s privacy policy. It’s been one of the best decisions I’ve made when it comes to making sure my accounting is on point. “It’s not just a cool piece of software, it is giving peace of mind to people.” You deserve to know your taxes aren’t something you have to sweat over the entire calendar year.” Wave has helped over 2 million North American small business owners take control of their finances. Wave has helped over 2 million small business owners in the US and Canada take control of their finances. Automate the most tedious parts of bookkeeping and get more time for what you love.
Data Used to Track You
- Wave Accounting is ideal for micro businesses with fewer than 10 employees, contractors, freelancers and other service-based businesses on a budget.
- With the Pro Plan, automatically import, merge, and categorize your bank transactions.
- Wave also offers a free app to help you manage your invoices on the go.
- For small businesses any larger than that, however, Wave is limited.
Although Wave’s paid plan offers additional features, it’s still missing some more advanced capabilities, like built-in inventory tracking and audit trails, that growing businesses might need. Once logged in, your main dashboard will show your cash flow, profit and loss, invoices, bills and other financial insights. Wave also offers a free app to help you manage your invoices on the go. With Wave Invoicing, you’ll be able to track, edit, send and pay invoices from any mobile device.
Allows an unlimited number of users in the Pro plan, but is registered login not complex enough for businesses with more than a handful of employees; ideal for very small service-based businesses, freelancers or contractors. Today’s leading accounting platforms offer standard security features, such as data encryption, secure credential tokenization and more. While human error will always play some role in security breaches, you can be confident in your accounting platform when it comes to keeping your information safe.