As of 2024, Wave has introduced a second paid plan that gives small businesses the option to scale up with Wave as they grow. We provide different levels of support for customers who use different features and https://www.accountingcoaching.online/what-is-a-cost-variance/ services from Wave. Full details on how Wave support works are available here. You work hard to make your business a success—that’s why Wave uses both physical and digital protection to keep your money safe.
Overview of Wave Accounting Features
Still, with just one paid plan, Wave can’t accommodate growing businesses the way multiplan competitors like QuickBooks Online, FreshBooks or Zoho Books can. The software setup wizard guides you through four easy setup steps to generate an uncluttered, straightforward dashboard. The interface ensures a low learning curve with friendly graphics, an in-app help center, live chat, user-first design and an accessible app. Create graphs, charts, and dashboards to see at a glance where your income is coming from and which expenses are cutting into your bottom line. You can then dig down as deep as you like with expense tracking and customized reports to manage your revenue, categorize expenses, and find cost-cutting opportunities. You’ll also experience peace of mind knowing your personal financial information is backed-up and secure.
Accept payments online
Our (non-judgmental) team of bookkeeping, accounting, and payroll experts is standing by to coach you—or do the work for you. Monitor your cash flow, stay organized, and stop sweating tax season. Between the app and the payment process—I can’t tell you the hours it’s saved, and even the headaches that have gone away because of it. Know when an invoice is viewed, becomes due, or gets paid, so you can stay on top of your cash flow better than ever. Easily monitor and keep track of what’s going on in your business with the intuitive dashboard. The quick summary allows you to stay in control of your business finances, including a task list of outstanding items.
Accounting software to keep you organized
- For example, the rate a freelance web developer charges may be different than that of a freelance graphic designer, because each freelancer specializes in a different area.
- Also, Wave Accounting only offers self-serve customer support.
- Accounting software helps business owners understand how money flows in and out of their businesses.
- To learn more about how we rate and review our software, including how we calculate star ratings for each brand we review, read our software review methodology overview.
With the Pro Plan, automatically import, merge, and categorize your bank transactions. It’s always available, and it’s backed up for extra peace of mind. Have an eye on the big picture so you can make better decisions. Our accounting reports are easy to use and show monthly or yearly comparisons, so you can easily identify cash flow trends. Wave has an incredibly simple to use interface, even for those with little accounting experience, and easy to set up.
In either case, Wave Accounting’s mobile app lets you capture unlimited receipts and import them in bulk in batches of up to 10 receipts. If you want professional help to get your business up and running, you can access bookkeeping experts through Wave for $149 per month. If you want more in-depth support, accountants and payroll coaches are available starting at $379 per month. Along with a free-for-life accounting and invoicing plan, Wave offers a paid plan with unlimited receipt scanning, thorough automation and a below-average starting price. In our Wave Accounting review below, we’ll cover Wave’s features, add-ons, pros and cons to help you decide.
Manage your money like a boss.
Keep your income flowing with the help of flexible payment options, and money transfers in as little as two days. Access your books at home or on-the-go, track business-related expenses like travel and office supplies, and set up the systems you need to take control of your cash flow and keep more of your money. If you encounter any issues during set up or during the process of use, you can get Wave accounting help from its Help Center, which features various resources and articles. Wave also has a free accounting guide, and you can find a Wave accounting tutorial online on any topic you need within seconds. Users can also always turn for help to the Wave accounting customer service. Wave accounting software can be used on any device, anywhere, and at any time as long as you have an internet connection, browser, and your Wave accounting login information.
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. You can mark invoices paid on the spot, so your records are instantly up to date. Accept payments through credit cards and bank payments to get paid even faster, for a low, pay-per-use fee.
While Wave is free to use, it doesn’t offer multiple plans to increase its functionality. It lacks some of the useful features you may find in other accounting software, such as https://www.quick-bookkeeping.net/ project management, time tracking and inventory management. Wave allows you to search transactions, design accounting reports and reconcile data across other Wave products.
Wave is PCI Level-1 certified for handling credit card and bank account information. Approval to use online payments is subject to eligibility criteria, including identity verification and credit review. You’ll need to answer a few questions about your business and provide us with a little more information about yourself in order to get approved to accept online payments. Xero’s starting price is half the price of QuickBooks, which makes Xero a more suitable Wave alternative for freelancers on a budget. Wave and Xero also have some crucial, unique features in common, such as unlimited users, unlimited bank connections and optional invoice-based payment acceptance.
I look at the dashboard and know how many invoices are on the way, when they should be paid, and the average time it takes someone to pay. Explore more details on the competition in our full roundup of the best accounting software for small businesses. For a limited time, new Wave Pro users can accept Visa, Mastercard and Discover payments at a discount. Businesses in the 36 other U.S. states can only sign up for Wave’s self-service payroll plan. We built our payroll tool for small business owners, so it’s easy to use AND teaches you as you go. Give your customers the option of paying with one click using a credit card, bank transfer, or Apple Pay.
Still, some accounting programs are more user-friendly than others, and Wave Accounting is among the easiest for first-time business owners to configure. At no cost, users can send an unlimited number of invoices to an unlimited number of clients. In contrast, FreshBooks’ cheapest plan starts at $19 and limits you to billing just five clients a month. Xero’s cheapest plan starts at $15 a month and limits you to sending just five invoices a month. As a self-employed professional, your flexibility is a huge advantage, so you need financial processes that are as flexible as you are. Wave’s accounting software is designed for self-employed people and freelancers like you, and can be easily customized for any size business and any type of goods or services you provide.
Visit your dashboard or use your invoicing or accounting features, and click the peach “Upgrade now” button. Learn more about changing subscription periods and plan types, and how to cancel your Pro subscription in our Help Centre. 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. 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.
The Wave accounting app can be used on iOS and Android devices. For information on credit card rates, visit Pricing kiplinger’s weekly earnings calendar for details. With a Wave Pro subscription, you’ll have recurring billing and other automation features.
