Wave Accounting is ideal for micro businesses with fewer than 10 employees, contractors, freelancers and other service-based businesses on a budget. The financial management software is user-friendly and equipped with all the basics, including income and expense tracking, invoicing and reporting. Wave invoices are integrated with our free accounting software, so payments are recorded and categorized for you – which means less bookkeeping and tax season prep. We provide different levels of support for customers who use different features and services from Wave.
- Make it easier for your customers to pay you through a Wave invoice, right from their bank accounts.
- Customers can click a Pay Now button on invoices and pay instantly by credit card, secure bank payment (ACH/EFT), or Apple Pay.
- Our robust small business accounting reports are easy to use and show month-to-month or year-to-year comparisons so you can easily identify cash flow trends.
- Make it easy and convenient for your clients to pay by offering options like bank transfers, credit cards, and online payments.
- Includes tools that help automate the reconciliation process and auto-categorizes transactions for you in the Pro plan, but you can’t set up your own bank rules; no global search function.
Wave was designed specifically for small business owners like you – no CPA required. With our intuitive dashboard, you’ll be a money management pro in no time. Enable invoice payments through credit card, bank and Apple Pay. Pay per use so you’re only charged when technology clients use this feature.
Digital invoicing empowers your small business by automating invoice processing and saving time by tracking key invoice data like upcoming and outstanding invoices. You can also manage late payments more efficiently through e-invoicing by setting up payment reminders to send to your customers before an invoice due date. Your customers can pay the invoices you send them instantly by credit card, secure bank payment (ACH/EFT), or Apple Pay.
How do you get started with Wave Accounting?
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Connecting your accounts
Know when an invoice is viewed, becomes due, or gets paid, so you can take the right actions to manage your cash flow. Set up invoice reminders to automatically email your customers when payment is due. These ratings are meant to provide clarity in the decision-making process, but what’s best for your business will depend on its size, growth trajectory and which features you need most. We encourage you to research and compare multiple accounting software products before choosing one. While Wave has a lot to offer when it comes to invoicing, know that it’s still slightly less automated than some competitors. This isn’t necessarily a deal-breaker, but it might require a bit more bookkeeping work.
Once you’re approved, you can turn payments on or off for any invoice, or pick default settings for all invoices. See invoice summaries, tap into business reports, receive payment notifications and more prorate definition and meaning using our highly-rated, free mobile app, available on iOS and Android. Set up recurring invoices for your finance clients and safely store credit card info so you have one less thing to keep track of.
Keep track of your business health
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. Learn more about how we rate small-business accounting software. Wave Accounting’s Starter plan is free https://intuit-payroll.org/ and its Pro plan, which includes more features, is $16 per month. Regardless of which you choose, you will have to pay processing fees to accept invoice payments online. Wave also offers paid products for payroll, coaching and mobile receipt scanning.
Learn more about changing subscription periods and plan types, and how to cancel your Pro subscription in our Help Centre. Email exported financial statements and reports to your accountant directly from Wave. Or even better, with our Pro Plan, safely hand off your books to your accountant by adding them as a limited user. Since Wave uses accountant-approved, real double entry accounting, your accountant will have all the information they need.
These features help keep our invoicing, and accounting, free. Electronic invoices are created with online invoicing software or other cloud-based services, which makes it easy to automate the invoicing process. Electronic invoices also provide small business owners with professional-looking digital invoices that their customers can pay easily online through a system like Wave’s online payments. However, like most products with free plans, Wave has its limitations, especially compared to more scalable small-business accounting software. 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.
With a Pro Plan subscription, you can connect your bank account with Wave and automatically import your transactions. Have an eye on the big picture so you can make better business decisions. Our robust small business accounting reports are easy to use and show month-to-month or year-to-year comparisons so you can easily identify cash flow trends.
Say #sorrynotsorry to your spreadsheets and shoeboxes. Running a business is different from every other job on the planet. Imagine if someone loved writing so much that they became a journalist, only to find out that they were expected to repair machinery as part of their duties. You have to do a lot of things that fall outside your skillset and comfort zone, every single day. One click on the “Review & Pay” button in your invoice email.
Connect to your bank with read-only and 256-bit encryption. Wave is also PCI Level-1 certified, which is often necessary with third-party merchant service providers. Your complete invoicing and billing process is now on your phone.
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. You can invite your accountants, bookkeepers or other business partners to Wave via email and designate their user roles. They can receive “editor permissions” and access accounting and reports as well as purchases easily. Explore more details on the competition in our full roundup of the best accounting software for small businesses.
Unlimited accounting, starting at free.
Servers are housed under physical and electronic protection. Wave is PCI Level-1 certified for handling credit card and bank account information. We provide different levels of support, depending on the plan and/or the add-on features you choose. Allow your customers to pay your invoices immediately via credit card, secure bank payment (ACH/EFT), or Apple Pay. Visit your dashboard or use your invoicing or accounting features, and click the peach “Upgrade now” button.
All your invoicing and payment information automatically syncs with our free accounting software included with your account. Every invoice paid means more revenue coming into your small business. Create and send professional invoices to your customers in seconds. Before you commit to accounting software, it’s in your best interest to shop around and compare all your options.
Accounting software helps business owners understand how money flows in and out of their businesses. This can help you save time and make financial decisions quickly. Wave allows you to search transactions, design accounting reports and reconcile data across other Wave products. Plus, you can calculate sales tax automatically, customize payment terms and enjoy access to easy-to-understand cash flow insights. It also features a well-laid-out, clutter-free dashboard with individual tabs for sales, purchases, accounting, banking, payroll and reports. Once logged in, your main dashboard will show your cash flow, profit and loss, invoices, bills and other financial insights.
Wave’s smart dashboard efficiently organizes your income, expenses, payments, and invoices for fast and accurate tax preparation. You’ll have all the information you need to ensure you don’t miss out on any tax incentives that could grow your business, minimize taxes, and help you keep more of your money. You can upgrade to Pro and add features as you need them, like bank account connections and real-time transaction updates, and you can easily make changes as your requirements change. Enable invoice payments by credit card for a pay-as-you-go fee as low as 2.9% + 60¢, and watch the money roll in.