There’s a fee involved with accepting online invoice payments, too. Customers can pay via credit card, bank payment or Apple Pay. 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.
Pocket- and small business-friendly perks
With the Pro Plan, automatically import, merge, and categorize your bank transactions. It’s always available, and it’s backed up for extra peace of accounts receivable job description mind. We provide different levels of support, depending on the plan and/or the add-on features you choose. Our servers are protected physically and electronically. Any connections between you, your bank accounts, and Wave are protected by 256-bit SSL encryption. NerdWallet independently reviews accounting software products before determining our top picks.
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. In addition to its accounting software, Wave offers paid services, including Wave Payments, Wave Payroll and Wave Advisors for bookkeeping support and accounting coaching. 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. Wave Accounting offers free software, meaning you won’t need to submit a credit card or payment information to use it.
You can enjoy features such as unlimited income and expenses tracking, digital receipt upload and transaction management and access its invoice mobile app at no cost. You can mark invoices paid on the spot, so your records are instantly up to date. Accept payments through credit cards and bank payments to get botkeeper competitors revenue alternatives and pricing paid even faster, for a low, pay-per-use fee.
Data Used to Track You
It can help you manage your bookkeeping, accounting and invoicing processes through a few internal integrations. Bank data connections are read-only and use 256-bit encryption. Servers are housed under physical and electronic protection. Wave is PCI Level-1 certified for handling credit card and bank account information.
We believe everyone should be able to make financial decisions with confidence. Also, Wave Accounting only offers self-serve customer support. If you have a question or issue, you can browse the help center or reach out to Mave, the automated chatbot.
- There’s no live support unless you pay for it so you’ll have to dig for the answers to your questions in the help center or cross your fingers that the automated chatbot will help you out.
- It lacks some of the useful features you may find in other accounting software, such as project management, time tracking and inventory management.
- See our step-by-step guide on how to import bookkeeping data into Wave here.
It’s been one of the best decisions I’ve made when it comes to making sure my accounting is on point. Ready to invoice in style, bookkeep less, and get paid fast?
Money management app on iOS and Android
Know when an invoice is viewed, becomes due, or gets paid, so you can stay on top of your cash flow better than ever. Easily create, customize, and cpa vs accountant: what is the difference devry university send professional invoices while on-the-go. Easily monitor and keep track of what’s going on in your business with the intuitive dashboard.
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. 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.
Organized and stress-free small business accounting
Not being able to see or input the expenses unless I pay for the quick receipt plan in app is kind of a bummer. I’m glad the option is still available online and the system works great and the amount of different charts available is super helpful. These ratings are meant to provide clarity in the decision-making process, but what’s best for your business will depend on its size, growth trajectory and which features you need most. We encourage you to research and compare multiple accounting software products before choosing one.
