You work hard to make your business a success—that’s why Wave uses both physical and digital protection to keep your money safe. Connect to your bank https://accountingcoaching.online/ with read-only and 256-bit encryption. Wave is also PCI Level-1 certified, which is often necessary with third-party merchant service providers.
Wave now uses optical character recognition (OCR) technology to read photos of receipts taken with a smartphone and turn them into categorized transactions. It worked in testing, though the app detects receipts and snaps photos so quickly sometimes that you only get a partial image. You can also create an email-forwarding address so that you can email copies of receipts into your Wave account. We provide different levels of support, depending on the plan and/or the add-on features you choose. 2 Rates are 1% for bank payments (minimum fee of $1). For information on credit card rates, visit Pricing for details.
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.
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.
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. Our accounting reports are easy to use and show monthly or yearly comparisons, so you can easily identify cash flow trends.
Processing fees
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.
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.
Stop chasing clients around
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.
- Enable invoice payments through credit card, bank and Apple Pay.
- Set up invoice reminders to automatically email your customers when payment is due.
- Digital invoicing empowers your small business by automating invoice processing and saving time by tracking key invoice data like upcoming and outstanding invoices.
- So, it’s hard to make the argument anymore that the app is truly free for standard accounting features.
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.
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.
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.
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.
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.
Take control of tax season
Wave has moved more features—most notably, estimates—but the apps could still use improvement. A better dashboard and access to transactions would be a good start, though you can work with invoices, estimates, payments, customer and product records, what should petty cash funds be used for and receipts. I encountered occasional text degradation on both an iPhone 13 Mini and a Samsung Galaxy S23 Ultra, making some pages look sloppy, though usually readable. And there’s a navigation button for a Banking feature that doesn’t exist yet.
Plans to makeyour plans happen.
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.
Even more ways to get paid: Bank payments
All your invoicing and payment information automatically syncs with Wave’s accounting feature. Create graphs, charts, and dashboards to see at a glance where your income is coming from and which expenses are cutting into your bottom line. You can then dig down as deep as you like with expense tracking and customized reports to manage your revenue, categorize expenses, and find cost-cutting opportunities. You’ll also experience peace of mind knowing your personal financial information is backed-up and secure.