And even better, get rid of late payments with Wave’s Pro Plan features like automated reminders and recurring invoices. Make it easier for your customers to pay you through a Wave invoice, right from their bank accounts. Wave’s online payments feature lets you accept bank payments, quickly and easily. For everyone else, however, we’ve always liked Wave’s browser-based application. With some exceptions, it includes a little bit of everything very small businesses need. It’s attractive and intuitive, and it does a great job of simplifying double-entry accounting.
With Wave’s web-based invoicing software, you can create and send invoices for your business in just a few clicks from your computer. All you need is an Internet connection and a browser! If you’re on-the-go, you can also send invoices from your phone or other mobile device using the Wave app. Show clients they’re in good hands by sending business invoices, estimates, and receipts. Automate overdue reminders and credit card payments to reduce friction and focus on the work. You can mark invoices paid on the spot, so your records are instantly up to date.
Our servers are protected physically and electronically. Any connections between you, your bank accounts, and Wave are protected by 256-bit SSL encryption. Sign up for Wave and send your first invoice right away—it only takes a few minutes! With the Pro Plan you can also set up recurring payments, auto-reminders, and deposit requests to make sure you always get paid on time. All your invoicing and payment information automatically syncs with our free accounting software included with your account. Keep your income flowing with the help of flexible payment options, and money transfers in as little as two days.
Make accounting easy.
See our step-by-step guide on how to import bookkeeping data into Wave here. Have an eye on the big picture so you can make better decisions. 4 basic things to know about bonds Our accounting reports are easy to use and show monthly or yearly comparisons, so you can easily identify cash flow trends.
With a Wave Pro subscription, you’ll have recurring billing and other automation features. Schedule everything, from invoice creation and invoice sending, to payment collection and overdue payment reminders. Know when an invoice is viewed, becomes due, or gets paid, so you can take the right actions to manage your cash flow.
When everything is neatly where it belongs, tax time is simple. Wave’s smart dashboard organizes your income, expenses, payments, and invoices. 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.
Our tools work together,so you work less.
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. Setting up Wave doesn’t take as much time as setting up FreshBooks since it asks far fewer questions about your business. You provide some basic details and then customize the app by, for example, modifying invoice and estimate forms, setting up sales tax, and choosing your preferred currency. Intuit QuickBooks Online, for example, provides deep, granular user permissions. With a Pro Plan subscription, you can connect your bank account with Wave and automatically import your transactions.
- Once you’re approved, you can turn payments on or off for any invoice, or pick default settings for all invoices.
- Create beautiful invoices, accept online payments, and make accounting easy—all in one place—with Wave’s suite of money management tools.
- Wave was designed specifically for small business owners like you – no CPA required.
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. These features help keep our invoicing, and accounting, free. 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.
Accounting apps like Wave wouldn’t be useful if they didn’t allow you to import transactions from your bank and credit card accounts. All that’s needed to set up these connections is your login credentials from your online accounts and occasionally answers to additional security questions, depending on the financial institution. Bank data connections with Wave are read-only and use 256-bit encryption, and its servers are housed under physical and electronic protection. Wave is PCI Level-1 certified for handling credit card and bank account information. Multi-factor authentication is required for bank connections through Plaid, a third-party account aggregator that is a standard in the financial industry.
Save time when you send automatic payment reminders in your Wave account. Whenever a payment is due, your customers will get an email reminder. Small businesses on the go want to be able to track expenses. Wave used to have standalone mobile apps that supported https://accountingcoaching.online/ uploads of receipt photos (Receipts by Wave, Wave Expenses), but these have been retired. As it stands now, the only way to do that on the mobile app is to pay the scanning fee. We hope this new attempt to provide uploaded expenses grows into something better.
Our Editors’ Choice winners for small business accounting programs are Intuit QuickBooks Online and FreshBooks for their superior capabilities, usability, and customizability, but neither is free. Wave helps make sure you’re paid for your hard work. Make it easy and convenient for your clients to pay by offering options like bank transfers, credit cards, and online payments.
Make tax time a breeze
You can accept credit cards and bank payments for as little as 1%2 per transaction. Wave used to be free unless you signed up to accept customer payments or used the app’s payroll features. Since my last review, it’s added a fee for scanning and uploading receipts ($8 per month or $72 billed annually), a feature that competitors offer free. The company also offers advisory services from in-house accounting and payroll coaches and bookkeepers for a fee. Wave has been one of the best accounting applications for years because it’s good and it’s free (unless you need payroll, and many microbusinesses don’t).
You have to scroll a bit to see everything, but you’ll get a great overview of your finances with links to deeper details. This page displays cash flow, profit and loss, and expense charts. There are tables of invoices payable to you, bills you owe, and income/expense/net income. There are also links to common tasks, like adding a customer and accepting credit cards.
A common issue when invoicing in Microsoft Word, Excel, or other DIY solutions is making calculation errors. Wave’s invoicing software for small businesses removes the worry of making these errors because calculations are done for you, including the taxes. Powerful, easy-to-use accounting software that has everything you need to confidently run your business. See invoice summaries, tap into business reports, receive payment notifications and more using our highly-rated, free mobile app, available on iOS and Android. Charge for a one-time compliance audit or ongoing site maintenance; you can schedule recurring invoices or send them manually whenever you need to. Make it easier for your customers to pay you right from their bank account.
Quickly build project estimates and professional invoices that reflect your business. Upload your logo, add customer info, share notes, and set net payment terms with ease. Considering it’s a free product, Wave’s invoice and estimate forms are good. Columns are customizable, and you can add sales tax and discounts and insert a logo, but more customization options would be welcome. The landing pages for invoices and estimates provide useful, detailed overviews of your activity and the status of your sales forms.
Create beautiful invoices, accept online payments, and make accounting easy—all in one place—with Wave’s suite of money management tools. 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.