Wave Review

The dashboard also shows a list view of your net income and payables and owing. This section is particularly useful because you can not only view each option, but also drill down into the reports and change the date range of reports. With Wave’s free accounting plan, what you see is what you get. Wave Accounting imposes far fewer limits than most of its competitors on everything from users to vendors. For instance, Xero’s cheapest plan limits users to sending 20 invoices a month, while FreshBooks’ cheapest plan limits users to invoicing only five clients a month. With Wave, you can send an unlimited number of invoices to an unlimited number of clients each month.

On the other hand, QBO only supports up to 25 users on its most expensive plan. Additionally, QuickBooks does not have a free plan like https://simple-accounting.org/ Wave, with prices starting at $30/month. Wave is a freemium accounting software that’s ideal for service-based small businesses.

Wave Accounting advantages

Then I revive an email saying I am no longer allowed to use their payment processor “effective immediately, decisions are final” with ZERO reasons.All because a customer made a mistake. Once you’re approved, you can turn payments on or off for any invoice, or pick default settings for all invoices. See invoice summaries, tap into business reports, receive payment notifications and more using our highly-rated, free mobile app, available on iOS and Android. Get your money faster when you offer customers the ability to pay directly from your invoices, starting at 2.9% + 60¢ per card transaction. Quickly build project estimates and professional invoices that reflect your business.

Businesses can gain access to real-time transaction records by linking their bank accounts, PayPal accounts, and other data sources. Some other useful features include invoicing templates, tracking capabilities, balance sheets, sales tax reports, and account receivable and payable reports. These features help keep our invoicing, and accounting, free. 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.

Positive Wave Reviews

The finance management platform is approachable, easy-to-use, and relatively feature-rich too. Keep in mind that they charge a credit card processing fee of 2.9% + 30 cents per transaction along with a 1% for Bank ACH transfers. Their credit card processing fee is pretty standard among the industry with notable companies like Paypal having the same fee. This platform is good for a small business or freelancer that doesn’t need payroll nor invoice too frequently. Yes, Wave’s accounting software does automatic double-entry bookkeeping.

I tried to contact Wave again, but still couldn’t get a satisfactory answer, just “wait for Plaid to fix it”.Now it has been about six weeks, with no data imported. I am having to start from scratch to find another accounting program, and then make the commitment to learn how to use it. I want to run my business, not spend all my time wondering why the accounting program won’t work.

Review Methodology

Our unbiased reviews and content are supported in part by affiliate partnerships, and we adhere to strict guidelines to preserve editorial integrity. The editorial content on this page is not provided by any of the companies mentioned and has not been reviewed, approved or otherwise endorsed by any of these entities. Wave discontinued its integration with PayPal in 2020 — however, that doesn’t mean Wave doesn’t work with PayPal. For businesses that want to connect Wave and PayPal, Zapier is a viable option. Wave currently supports four web browsers; Desktop Chrome versions 65+, Desktop Firefox versions 63+, Desktop Safari versions 11.1+, and Desktop Edge versions 17+.

The company also offers good customer support options, including an accounting guide, to help you learn to balance the books and use the software. The recurring invoice option can be a real time-saver, since it allows you to automatically charge your customer’s credit card each month, eliminating the need to wait for payment. A new feature, currently in beta testing, will allow you to accept payments for products directly from your website, making Wave a good option for online sellers.

Wave Accounting Pricing

These solutions are integrated within your dashboard and you’ll access them both through your single Wave login. When you reconcile your books, you’ll navigate to the “Reconciliation” tab within the Accounting menu. If you need to manually edit, add or remove any transactions, you can do so on the Reconciliation or Transactions pages. Next, you can add sales tax (if necessary), create customer profiles and customize your invoice templates.

Simplicity of use meets perfect design—kudos to your UX team! Cata and his colleagues managed to help me find the best tools to manage my website, even though I am far from technical. The resources from https://simple-accounting.org/wave-accounting-review/ ecommerce-platforms.com helped me find the right tools and to kickstart our marketing strategy. Joe Warnimont is a Chicago-based writer who focuses on eCommerce tools, WordPress, and social media.