Wave Software Review

Accounting software can seem like a complicated business, but it doesn’t have to be. In the midst of running your business every day, you don’t want to have to worry about invoicing, bills, or taxes. However, investing in simple and intuitive accounting software can make running your life and your business much more accessible. Wave Software provides affordable accounting software services for small and medium-sized business ventures. Key features make billing, payroll, and payment tracking simple to manage throughout the year.

8.9/10
Excellent
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1864 reviews
on 3 websites

Key Features

  • Quick and easy software setup
  • Compatibility with PCs, Macs, iOS, and Android mobile systems
  • No limit to bank or credit card connections
  • Expense and income tracking
  • Integration with Etsy, PayPal, and Shoeboxed
  • Instantly updates for payments, payroll, and invoicing information
  • Customizable to invoices and receipts scanning
  • Customize billing and invoice reminders
  • Custom dashboard notifications
  • Generate accounting reports for profits and losses, sales tax data, cash flow, comparative analytics, and more
  • Custom sales tax
  • Accept payments in different currencies with automatic calculations for exchange rates
  • Searchable transactions
  • Double-entry software approved by accountants
  • Multiple businesses can run through one account

Pricing

The Wave software is free for basic system uses, like invoicing, accounting, and receipt scanning. No credit card or other payment information is needed to create an account with Wave. Additional services like payroll assistance are part of Wave’s paid service offerings.

These paid services come with financial management advice, as well as channels for employees to access payroll information and payment options. Additionally, Wave’s paid services come with live chat customer service for any questions or issues that may arise for users.

Things To Note

Wave accounting software is compatible with PC and Mac systems. The mobile app is available for iOS and Android systems, for easy receipt scanning and uploads to the computer-based software. This allows for real-time financial reports and management without costly delays as financial information becomes available.

Individuals such as employees or tax preparers can be permitted to access the reports from the software or access the business account itself. Additionally, the account manager can use one Wave account to run multiple businesses if desired. Having accounting software not only makes a business’s financials accessible to the people who need that information but also makes it easy to send to a preferred tax preparer at tax time.

Data from other accounting software like QuickBooks can be easily imported to Wave for a seamless switchover.

In A Nutshell

Wave makes it simple to track business accounts, invoicing, billing, payments, and more. This software is designed for sole-proprietorship businesses or businesses with a few employees. The free software is enough to get most companies started on the right path to tracking and recording income and expenses.

Wave’s paid features, such as Payments and Payroll, are affordable for businesses that wish to take advantage of those services. These aspects of the software are accessible to integrate and use with the other parts of the accounts tracking. Financial management tools are also available to users.

 

Let’s Dive Deeper

Wave is based on the internet, which means users will need to have an internet connection to use it. Users can integrate their computer software with the Wave mobile app, as well. Wave provides excellent accounting services at free or low-cost for freelancers, independent business owners, small businesses, consultants, and others who need affordable accounting software. Wave offers standard accounting services that help businesses function smoothly through invoicing, payroll, billing, expense tracking, income management, and more.

Users can link their credit card information, bank account data, or connect their Wave account with money coming in from PayPal, Shoeboxed, or Etsy. This allows for real-time financial transaction records to be updated in a Wave profile. Additional income reports can be generated that show income from various sources. Deduction reports are also valuable.

Reports can be generated that show sales tax, accounts receivable and accounts payable balance sheets, and more that can make tax time a lot easier to prepare for throughout the year.

Wave’s invoicing tool allows a business to collect money and keep track of necessary receipts. Businesses can also customize their invoices to have the information on it that is needed for their clients. Wave’s software makes it simple to separate the information required to pay taxes every year, as well as other budgeting considerations that need to be made.

Credit card payments can be collected through Wave, too. Wave’s paid payroll software is available for users in the United States and Canada. All transactions made through the software are encrypted and secure for added user protection.

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