QuickBooks Online’s detailed reporting and transaction tracking is ideal for growing businesses. FreshBooks is an affordable option for freelancers and small service-based businesses that operate mostly on the go. Moreover, you can integrate QuickBooks with hundreds of third-party tools available in the app marketplace.
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, 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. Wave used to offer its accounting and invoicing features for free but it recently introduced a paid version (Pro).
You’ll need to upgrade to the Pro plan for $16 per month if you want live customer support. The banking section of this case study focuses on cash management, capital and current account bank reconciliation, and bank feed connections. The software must have bank integrations to automatically feed bank or card transactions.
Tam has a passion for travel and has visited Antarctica, Patagonia, and the Maldives. She’s a proud supporter of animal rights and rescues, and LGBTQ+ causes. You’ll often find her doing hot yoga, playing badminton, scaling a rock wall, or hanging with her teacup Yorkie. He comes to Wave with decades of executive experience, most recently as General Manager for Afterpay North America, and previously as Executive Vice President at Mastercard. You’ll always know who you need to communicate with and about what, so you can leave a great impression with customers.
Get paid in as fast as 1-2 business days1, enhance your brand, and look more professional when you enable payments. Customers can click a Pay Now button on invoices and pay instantly by credit card, secure bank payment (ACH/EFT), or Apple Pay. You can accept credit cards and bank payments for as little as 1%2 per transaction. Wave is easy to use and has a low learning curve, whether you’re in the free or paid version. The interface is clean and not overwhelming, and you can easily find your way around. The dashboard includes shortcut buttons so that you can easily create new transactions, like bills, estimates, and invoices.
Want to look more polished, save more time, and conquer cash flow? Create customizable invoices from templates with easy drag-and-drop editing. “It’s not just a cool piece of software, it is giving peace of mind to people.” You deserve to know your taxes aren’t something you have to sweat over the entire calendar year.” Wave has helped over 2 million North American small business owners take control of their finances.
Wave Reviews From Users
Read our QuickBooks Online review to learn more about our recommended alternative. The case study ratings are based on the features and capabilities of the paid version, Pro. The rate that you charge for your freelancing services can vary, so it’s important to get a grasp of market trends before sending your clients an invoice or quoting a price. Freelance rates can differ depending on experience level and industry.
Allow your customers to pay your invoices immediately via credit card, secure bank payment (ACH/EFT), or Apple Pay. Create beautiful invoices, accept online payments, and make accounting easy—all in one place. You can set up multiple sales tax rates, apply them to invoices, and generate reports to help with tax compliance. The A/P section focuses on vendor management, bill management, bill payments, and other payable-related transactions. A/P features include creating vendors and bills, recording purchase orders and converting them to bills, creating service items, and recording full or partial bill payments. Wave is one of our best A/P software because of its ability to record unpaid bills even in the free Starter plan.
Wave used to have standalone mobile apps that supported uploads of receipt photos (Receipts by Wave, Wave Expenses), but these have been retired. As it stands now, the only way to do that on the mobile app is to pay the scanning fee. We hope this new attempt to provide uploaded expenses grows into something better. You can’t pay bills through Wave as you can in Intuit QuickBooks Online, but you can record them, mark them as paid, and track the status of your payables. Wave now uses optical character recognition (OCR) technology to read photos of receipts taken with a smartphone and turn them into categorized transactions.
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. Enable invoice payments through credit card, bank and Apple Pay. Pay per use so you’re only charged when technology clients use this feature.
Explore more details on the competition in our full roundup of the best accounting software for small businesses. Easily create, https://accountingcoaching.online/ customize, and send professional invoices while on-the-go. Your complete invoicing and billing process is now on your phone.
The quick summary allows you to stay in control of your business finances, including a task list of outstanding items. Know when an invoice is viewed, becomes due, or gets paid, so you can stay on top of your cash flow better than ever. Support for non-paying users is limited to the chatbot and self-service Help Center. Only integrates with in-house apps, like Wave Payments and Wave Payroll; does not integrate with card readers for in-person payments. After creating your account, everything is set up so you can get started.
See all Payments features
Wave has helped over 2 million small business owners in the US and Canada take control of their finances. PCMag is obsessed with culture and tech, offering smart, spirited coverage of the products and innovations that shape our connected lives and the digital trends that keep us talking. Like the rest of Wave, the dashboard is clean and understandable, attractive and colorful. The company has worked during the last year to make the site more accessible, and it shows. Sign up to receive more well-researched small business articles and topics in your inbox, personalized for you.
- Our accounting reports are easy to use and show monthly or yearly comparisons, so you can easily identify cash flow trends.
- Track customer views and invoice payments in the Wave dashboard so you always know where you stand with sellers, property managers, buyers and renters.
- It lacks some of the useful features you may find in other accounting software, such as project management, time tracking and inventory management.
- Deposits are sent to the debit card linked to your account in up to 30 minutes.
We provide a detailed explanation of the scores in the Features section. 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.
Does Wave offer a payment processing solution?
However, we docked a few points because we found some weaknesses, such as the inability to create purchase orders, track transactions by vendor, and attach receipts to unpaid bills. With the paid version, you can connect your bank account to Wave and upload bank statements to synchronize your transactions. However, Wave’s reconciliation feature is not as seamless as those in other software like QuickBooks Online. For instance, while it has an automatic reconciliation feature, it doesn’t allow for any reconciling items, such as checks written but not yet processed by your bank.
Even more ways to get paid: Bank payments
You can create decent invoices in the Pro plan, but they aren’t as customizable as those in other software like QuickBooks Online. Wave earned high marks for general features, and it could have aced the criterion if users could use account numbers in the chart of accounts and import a chart of accounts. However, we like that it’s fast to set up a new account, and it’s simple to add business information, such as company name, type of business, address, and contact details. Now, it offers a free plan and a paid subscription that costs $16 per month. We docked a few points primarily because the free plan no longer supports an unlimited number of users. For information on credit card rates, visit Pricing for details.
Know when an invoice is viewed, becomes due, or gets paid, so you can take the right actions to manage your cash flow. Set up invoice reminders to automatically email your customers when payment is due. Every invoice paid means more revenue coming into your small business.