Are you a small business owner, freelancer, or consultant? Do you want free accounting software that’s easy to use? Wave Accounting helps you manage your money, create invoices, get paid online, and even run payroll. This review will help you decide if Wave is right for your business.
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About Wave Accounting:
Wave Accounting is a free accounting software. It’s designed for small businesses, freelancers, contractors, consultants and self-employed entrepreneurs. It helps you track income and expenses, create invoices, accept online payments, and manage payroll. Over 2 million small business owners in the US and Canada use Wave.
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Benefits of Wave Accounting:
- Free to Use: The core accounting and invoicing features are free.
- Easy to Use: The dashboard is simple and user-friendly. You don’t need to be an accountant.
- Get Paid Faster: Send professional invoices and accept online payments (credit cards, bank transfers, Apple Pay).
- Organized Finances: Keep track of your income and expenses easily. Be ready for tax time.
- Payroll: Pay your employees and yourself easily (paid feature).
- Expert Help: Get help from Wave Advisors (bookkeeping, accounting, and payroll experts) (paid service).
Features of Wave Accounting:
- Accounting: Track your income and expenses. Monitor your cash flow.
- Invoicing: Create and send professional, customizable invoices. Set up recurring invoices. Automate overdue reminders.
- Estimates: Create and send estimates to potential clients.
- Wave App: Access your account on the go with the mobile app.
- Mobile Receipts: Scan receipts with your phone to track expenses.
- Payments: Accept online payments (credit cards, bank payments, Apple Pay). Get paid 3x faster.
- Payroll: Pay your staff and yourself in minutes (paid feature).
- Advisors: Get 1:1 help from bookkeeping, accounting, and payroll experts (paid service).
- Recurring Billing: Automatically bill clients on a regular schedule.
- User-Friendly Dashboard: Easy to understand, even if you’re not an accountant.
- Organized for Tax Season: Everything is in one place, making tax time easier.
- Business Health Overview: Get a complete picture of your business finances.
Pros and Cons of Wave Accounting:
Pros
Cons
How Wave Accounting Works:
- Sign Up: Create a free Wave account.
- Connect Your Bank: Link your bank account to track income and expenses.
- Create Invoices: Create and send invoices to your clients.
- Track Expenses: Add your expenses manually or scan receipts.
- Get Paid: Customers can pay you online through your invoices.
- Run Payroll (Optional): Pay your employees and yourself (paid feature).
- Use Advisors (Optional): Get expert help with bookkeeping, accounting or payroll (paid service).
Get Started with Wave Accounting for Free Today!
Wave Accounting Regular Pricing:
Wave Accounting Alternatives:
Here are some other accounting software options:
QuickBooks Online:
Paid accounting software with more features than Wave. Offers inventory management, project tracking, and budgeting. Good for growing businesses. It is a popular choice.
Xero:
Cloud-based accounting software, similar to QuickBooks Online. Known for its user-friendly interface and many integrations. Good for small businesses. Popular in Australia and New Zealand.
FreshBooks:
Primarily invoicing software but also offers expense tracking and basic accounting. Easy to use and good for freelancers. It is known for its invoicing.
Zoho Books:
Part of the Zoho suite of business apps. Affordable and user-friendly. Offers a wider range of features than Wave, including inventory and project management. It is good for small businesses.
Sage 50cloud:
A more traditional accounting software with cloud features. Suitable for established small businesses. Offers strong reporting and inventory features. It is a powerful software.
