If you’re a small business owner in search of free, cloud-based accounting software, Wave Accounting is worth considering. This is particularly true if you don’t have much accounting experience and would like an easy-to-use, fully functional tool. It’s one of the only truly free options on the market and can allow you to manage your accounting processes in one convenient place. Have an eye on the big picture so you can make better business decisions.
How Wave Accounting Stacks Up
Servers are housed under physical and electronic protection. Wave is PCI Level-1 certified for handling credit card and bank account information. FreshBooks has an excellent mobile app that allows you snap photos of receipts, send invoices and track mileage. In addition to its accounting software, Wave offers paid services, including Wave Payments, Wave kiplinger’s weekly earnings calendar Payroll and Wave Advisors for bookkeeping support and accounting coaching. With Wave, you’ll be able to send unlimited, customized invoices to your customers, manage an unlimited number of expenses and track unlimited receipts through its receipt scanning and capture feature.
How is Wave different than QuickBooks?
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. There’s a fee involved with accepting online invoice payments, too. Customers can pay via credit card, bank payment or Apple Pay.
- For more information, see the developer’s privacy policy.
- 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.
- You can also choose from Wave’s selection of professional invoice templates to make sure every touch point instills client confidence in your brand.
Pricing and features
This isn’t necessarily a deal-breaker, but it might require a bit more bookkeeping work. Wave’s software is simpler—designed for easy use for freelancers and small businesses—while QuickBooks’ platform is designed to cover complex business needs and grow as your business grows. If you’re a freelancer or other solo service provider, Wave is a better option. When everything is neatly where it belongs, tax time is simple.
Automate the most tedious parts of bookkeeping and get more time for what you love. Ready to invoice in style, bookkeep less, and get paid fast?
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 bank reconciliations Wave are protected by 256-bit SSL encryption. Similar to other reputable cloud-based accounting software products, Wave encrypts the data you share with it and monitors its server facilities 24/7.
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. Keep your income flowing with the help of flexible payment options, and money transfers in as little as two days. Access your books at home or on-the-go, track business-related expenses like travel and office supplies, and set up the systems you need to take control of your cash flow and keep more of your money.
If you have a question or issue, you can browse the help center or reach out to Mave, the automated chatbot. If you do want live support, you’ll need to invest in an Advisor or paid service. Give your customers the option of paying with one click using a credit card, bank transfer, or Apple Pay. Xero lets you add unlimited users in all plan tiers and, similar to QuickBooks Online, can grow alongside your business. Zoho Books offers a robust free plan, along with financial terms glossary a range of paid plans that feature workflow automation.