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Wave Accounting

Simple bookkeeping and payment solution for small business owners
our rating 4 out of 5 Stars

Wave AccountingProduct Overview

  1. About Wave Accounting
  2. Pros of Wave Accounting
  3. Cons of Wave Accounting
  4. Breakdown of core features

Wave Accounting product overview

Wave Accounting is a simple bookkeeping software for small businesses and freelancers. It empowers small business owners to manage their finances by providing a straightforward, all-in-one financial management solution.

Wave Accounting helps businesses understand and manage their income and expenses. It tracks and automates everything in one package. Users can also connect this accounting software to other Wave products such as payroll, payments, and invoicing.

The software facilitates double-entry bookkeeping and gives unlimited user access to records and reports. It also has mobile applications for Android and iOS devices that allow users to run their business from anywhere.

Pros of Wave Accounting

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  • Bank data connections in Wave Accounting are read-only and use 256-bit encryption. Servers have physical and electronic protection. The software is also PCI Level-1 certified for handling credit card and bank account information.
  • It requires no installation since it is 100% web-based. Users only need an internet connection and browser.

Cons of Wave Accounting

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  • Its payroll services are available exclusively to businesses in Canada and the U.S.

Breakdown of core features

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Accounting

The software streamlines double-entry accounting and provides a full-featured accounting app custom-made for small businesses. It enables users to monitor their transactions, track expenses and income, attach receipts, and generate reports.

Invoicing

Wave Accounting simplifies billing for business owners and customers. Users can create custom invoices using templates, automate reminders to ensure prompt payment, and give clients the option to pay by credit card.

Payroll

Business owners can keep employees happy and eliminate the stress from payroll taxes with Wave Accounting’s Payroll. This feature monitors salaries and hours worked, manages tax deductions, and includes direct deposit, so users don’t have to run around writing and delivering checks.

Reports

The solution offers various reports for managing business finances and operations. These reports cover everything from accounting to sales to taxes. Reports are customizable, and the system lets users compare them to past periods. Users can run reports as cash-basis or accrual.

(Last updated on 03/15/2022 by Liz Laurente-Ticong)

Quick Facts

  • Industry Specialties
    All Industries
  • Pricing
    Low-end
  • Works Best For
    Small Sized Businesses

Screenshots

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Video

Features

  • Income and expense tracking
  • Sales tax tracking
  • Unlimited partners, collaborators, or accountants
  • Double-entry system
  • Reports
  • Dashboard
  • Bank and credit card connections
  • Payroll
  • Invoicing
  • Mobile applications

Integrations

  • Google Drive
  • Gmail
  • PayPal
  • Stripe
  • HubSpot CRM
  • HoneyBook
  • Microsoft Outlook
  • Freedcamp
  • Avaza
  • ServeManager

Languages

  • English