Wave: Small Business Software Apps on Google Play

Wave is PCI Level-1 certified for handling credit card and bank account information. 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.

1. It’s been one of the best decisions I’ve made when it comes to making sure my accounting is on point.
2. Whether it’s a seasonal, part-time, or full-time employee, hiring employees is a huge step for small businesses.
3. Connect your bank accounts in seconds with the Pro Plan.
4. Accounting software helps business owners understand how money flows in and out of their businesses.
5. Strong invoicing feature competes with that of paid products; app lets users send invoices on the go; offers significantly fewer reports than competitors; no inventory tracking.

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. Similar to other reputable cloud-based accounting software products, Wave encrypts the data you share with it and monitors its server facilities 24/7. When you reconcile your books, you’ll navigate to the “Reconciliation” tab within the Accounting menu. 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. A common issue when invoicing in Microsoft Word, Excel, or other DIY solutions is making calculation errors.

See all Payments features

«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.» We built our Payroll tool for small business owners, so it’s easy to use AND teaches you as you go. Monitor your cash flow, stay organized, and stop sweating tax season. Say #sorrynotsorry to your spreadsheets and shoeboxes.

Previously scanned receipt images will continue to exist in your Wave account as expense transactions. 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. ‍2 Rates are 1% for bank payments (minimum fee of $1). For information on credit card rates, visit Pricing for details.

Button up your business with professional invoices.

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. It keeps me on track and takes a lot out of my hands. You’ll receive the money in your account in 1 business day (Canada), or 2 business days (US)1.

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. 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. We provide different levels of support, depending on the plan and/or the add-on features you choose.

Know when an invoice is viewed, becomes due, or gets paid, so you can stay on top of your cash flow better than ever. Xero lets you add unlimited users in all plan tiers and, similar to QuickBooks Online, can grow alongside your business. Only integrates with in-house apps, like Wave Payments and Wave Payroll; does not integrate with card readers for in-person 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. Many or all of the products featured here are from our partners who compensate us.

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. It’s hard to beat free accounting software, especially if you’re running a small business on a budget. 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. 1Payouts are processed in 1-2 business days for credit card payments and 1-7 business days for bank payments.

In addition, Wave’s mobile app lets you send invoices and track payments on the go. The app offers a receipt scanning feature as well, but you have to pay a subscription fee to access it. There’s a fee involved with accepting online invoice payments, too. Customers can pay via credit card, bank payment or Apple Pay.

Priced right for small businesses

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. With Wave’s fifo vs lifo: what is the difference Pro Plan, you can set up recurring invoices and automatic credit card payments for your repeat customers. Switch between automatic and manual billing whenever you want.

Wave uses real, double-entry accounting software. Zoho Books offers a robust free plan, along with a range of paid plans that feature workflow automation. FreshBooks is an affordable option for freelancers and small service-based businesses that operate mostly on the go. Compared with free software like Wave, QuickBooks plans are expensive. The most basic plan, Simple Start, costs $30 per month, and the top-tier Advanced plan costs $200 per month, which is a sizable investment if you’re running a business on a tight budget. Although accounting and invoicing are separated into two different product sections on the Wave website (shown similarly below), they don’t require separate accounts.

Get paid in as fast as 1-2 business days1, enhance your brand, and look more professional when you enable payments. Customers can click a Pay Now button on invoices https://quickbooks-payroll.org/ and pay instantly by credit card, secure bank payment (ACH/EFT), or Apple Pay. You can accept credit cards and bank payments for as little as 1%2 per transaction.

Pro plan capabilities include recurring invoicing and the option to let repeat clients opt into automatic credit card billing. 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. 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.

Can manage multiple businesses for free under one account; lacks project tracking tools, industry-specific reports and transaction tracking tags. Allows an unlimited number of users in the Pro plan, but is not complex enough for businesses with more than a handful of employees; ideal for very small service-based businesses, freelancers or contractors. Our servers are protected physically and electronically. Any connections between you, your bank accounts, and Wave are protected by 256-bit SSL encryption. Give your customers the option of paying with one click using a credit card, bank transfer, or Apple Pay. Powerful and 100% free accounting software that has everything you need to confidently run your own business.

Online payments allows you to get paid quickly by bank deposit, credit card, and Apple Pay. Bank data connections are read-only and use 256-bit encryption. Servers are housed under physical and electronic protection.