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About Wave
Online accounting software that provides features including invoicing, billing, payment tracking, payroll management, finance management, credit card processing, and receipt scanning. Wave Accounting is designed to help businesses streamline bookkeeping processes. With Wave's bank reconciliation tools, businesses can manage all bank account and credit card information in real-time to improve bookkeeping efficiency and accuracy. Businesses can also generate reports that include various data such as sales tax, balance sheet, cash flow, profit/loss, plus more. Wave's dashboard includes an invoicing tool that collects invoice payments. A small business owner can choose customizable invoicing templates based on unique business needs. Invoices can be sent via email and the software's credit card processing feature allows users to collect payments online. Recurring invoices and automatic payment features are available for regular customers.
The platform ensures data availability and provides backup services for extra peace of mind. A key feature of the Pro Plan is the ability to establish unlimited bank and credit card connections, allowing users to connect their accounts within seconds. This automated process eliminates the need for manual receipt entry, saving time and reducing the risk of errors.
Additionally, Wave's Pro Plan empowers users to keep track of their business's financial health by offering robust small business accounting reports. These reports, which are easy to use, provide valuable insights by allowing for month-to-month or year-to-year comparisons. By identifying cash flow trends, businesses can make informed decisions to navigate their financial landscape more effectively.
Another significant advantage of the Pro Plan is the simplified tax management process it offers. By organizing income, expenses, payments, and invoices through the smart dashboard, Wave ensures that tax time becomes less burdensome for businesses. Moreover, Wave's security measures guarantee the protection of sensitive financial data. Bank data connections are read-only and encrypted using 256-bit encryption. The servers are housed under robust physical and electronic protection, and Wave is PCI Level-1 certified for handling credit card and bank account information, further enhancing the security of users' financial information.
Wave pricing
Wave has a free version and offers a free trial. Wave paid version starts at USD 16.00/month.
Starting Price:
USD 16.00/month
Free Version:
Yes
Free trial:
Yes
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Wave Reviews
Feature rating
5 reviews of 1,654
View all reviews
Erik
- Industry: Logistics & Supply Chain
- Company size: 11–50 Employees
- Used Daily for 1+ year
-
Review Source
4
Reviewed on 11/01/2025
Wave Review.
The system is great cost effective not the easiest to use but great system overall.
Pros
The features in the platform are great. Simple to use not user friendly but easy to use.
Cons
Their platform doesn't integrate with other systems in the transportation industry.
Reasons for Switching to Wave
There system do not integrate with transportations systems.
Brigitte
- Industry: Consumer Goods
- Company size: 2–10 Employees
- Used Daily for 2+ years
-
Review Source
5
Reviewed on 10/12/2024
Raving About Wave
I have been using Wave for our small business bookkeeping for the past five or six years and love the ability to connect my bank accounts and credit cards and run weekly, monthly, and yearly reports.
Pros
For our small business, it is nice to have an affordable accounting option.
Cons
I wish they had not done away with the free scan receipts feature. I still pay for it, though.
Alternatives Considered
QuickBooks DesktopReasons for Choosing Wave
QuickBooks was much more expensive and had may more features than I needed for a small business.Switched From
QuickBooks OnlineReasons for Switching to Wave
Wave was less expensive and easier to learn and teach to our employees.
Brie
- Industry: Construction
- Company size: 2–10 Employees
- Used Daily for 1+ year
-
Review Source
3
Reviewed on 14/12/2024
Good for Small Business That Doesn’t Need Job Costing
This is a great app for small businesses or startups that don’t need job costing and don’t have complex accounting situations.
Pros
Its free version is pretty robust. You can add your branding to forms. You can accept payments.
Cons
Not a good app for job costing Or if you have multiple projects under one customer. Not robust enough for complex accounting situations
Reasons for Switching to Wave
Because it offered the most robust system for free
Perry
- Industry: Real Estate
- Company size: 2–10 Employees
- Used Daily for 2+ years
-
Review Source
5
Reviewed on 30/10/2024
Great option for free bookkeeping software
Wave provides fantastic value given its price point.
Pros
Wave has a free, entry-level accounting software option that makes it a no-brainer for new small business. I'm able to use their free tier to reconcile my accounts, automatically import transactions, send professional invoices, and produce financial reports without increasing my overhead. The value provided by Wave given the $0 price tag is huge.
Cons
I have encountered two notable bugs within their software. First, despite efforts to fix it, the Sales Discount account is backwards (it records as a revenue account rather than a contra-revenue account). Second, I've encountered a rounding error within bills that has resulted in my Accounts Payable account being a few cents off even after all bills are paid. There are workarounds that I use weekly to overcome these errors, but Wave has not fixed the errors nor published a timeline for their resolution for months. Finally, most accountants and bookkeepers use QuickBooks and aren't familiar with Wave, so I don't recommend Wave for anyone with an outsourced bookkeeper or complicated tax situation.
Alternatives Considered
QuickBooks OnlineReasons for Switching to Wave
Wave allowed us to get started for free, and we never looked back.
Verified Reviewer
- Industry: Health, Wellness & Fitness
- Company size: Self Employed
- Used Daily for 2+ years
-
Review Source
5
Reviewed on 02/01/2025
Wave really is the way to go!
Once of the easiest programs, I honestly can't find anything to 'complain' about. Supper effective, easy, and the right features for a small business.
Pros
-Very affordable for a single owner small business
-EASY to use
-Makes accounting anxiety free
-You can hire professional bookkeeper if needed
-Can add your accountant to the account with ease
-Can invoice and track customer payments
Cons
-Would love more categories for expenses
