Wave Accounting is a cloud-based accounting platform for small businesses. With Wave business owners can run payroll, generate financial reports, record expenses, and more. The software can also be accessed using the Wave mobile app.
Wave Accounting is a free accounting solution, so there is no monthly fee. However, online payments are charged 2.9% + $0.30 per transaction.
Pros: No subscription fee.
Cons: Can be hard to find an expert in your local area. There are 2,500 certified Wave advisors compared to some competitors that have up to 50,000.
Bottomline: Free accounting platform that enables your business to run payroll, generate financial reports, and record expenses.
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235 Carlaw Ave, Suite 501, Toronto, ON, M4M 2S1, Canada
we switched to Wave (http://waveapps.com) a month ago and it's been great, even with the multiple currencies and offices.Love it. Recommended.
I've been attempting to 'love' Wave for the past couple of days now and it doesn't seem to be happening. I've done the homework on double-entry bookkeeping and have tried to fit my brain into Wave's workflow. Unfortunately, the total lack of documentation on how to get started with it is making life very difficult.
Agreed...started using Wave but I feel like I should have used quickbooks. Though they have payroll, they do not pay your taxes for you (only in a few select states). You need to do it manually...and at times I've forgotten and had to pay penalty. Now I use square - and they do it all automatically. I didn't know I had to 'turn off' payroll in wave and was charged the $15 a month even though I didn't run payroll for any employees. Payments...their recurring invoices are good, but you need to do some manual work. They create the invoices and it adds to your sales. When they deposit your money to your bank it adds to your sales as well. So you need to find the one they deposit and manually delete. I asked if there's like a report they generate that tells me everything they've deposited...it doesn't exist. So you could mistakenly delete something, or forget to delete something...and it throws everything out of whack. You could be underpaying or overpaying taxes. Their 'ACH' requires people to log into their bank. I'm not going to try to convince my customers to click on a link on my invoice and put in their bank credentials. I have other gripes...there's definitely room for improvement. I haven't seen that much changed in the last few years...not sure if they cut back on their development team or what. I probably should have looked more heavily into Quickbooks since that's the industry standard. I will look into pilot, though.
I've been using Wave for my bookkeeping for years with no regrets. With that being said, I'm a single-person S-corp with no employees and my income is made up of directly-deposited checks in response to weekly/monthly invoices. I typically have one client at a time, as I do software development on a contract basis. In comparison to others, I imagine that my needs are very basic.
Is Wave Accounting good?
Wave Accounting charges no subscription fee, and it is a very secure platform. Wave Accounting has data security and fraud prevention features built into the software to protect all your information and keep your transactions safe.
How does Wave Accounting make money?
Wave Accounting makes money from their payroll software and their payments platform.
Is Wave Accounting software safe to use?
Wave Accounting is a very secure platform. They have data security and fraud prevention features built into the software to protect all your information and keep your transactions safe.
What is Wave Accounting Software?
Wave Accounting software is cloud-based accounting software that enables you to run payroll, generate financial reports, and record expenses. You can also access the software by using the Wave mobile app.
Is QuickBooks better than Wave?
Wave Accounting is free and can be accessed using the mobile app, but Quickbooks is certainly a more capable accounting platform if you want a variety of features and advanced metrics for your business.
What is the price range for Wave Accounting software?
Wave Accounting does not charge a subscription fee for using their services. Credit card processing costs 2.9% + $0.30 per transaction, and payroll costs $20.00 per month.
What are some Wave Accounting alternatives?
Can I use Wave Accounting software to scan receipts?
If you have the Wave Accounting app on your phone, use your Waveapps login to sign in. You can take a picture of your receipt and the app will automatically upload it to Wave's Accounting platform.