Wave Accounting Review 2023: Features, Pricing & More

Wave Accounting

Wave currently supports four web browsers; Desktop Chrome versions 65+, Desktop Firefox versions 63+, Desktop Safari versions 11.1+, and Desktop Edge versions 17+. Mobile apps are available for both iOS 11 and later as well as Android 5 and later, with both designed to be used exclusively with mobile phones. You can also visit Wave’s Help Center to browse through a variety of application categories, ask a question, or access one of the Wave Guides.

Wave Accounting

Invoicing by Wave is an offshoot of the company’s earlier accounting tools. This update fixes intermittent problems with access to receipt scanning. Thanks for using Wave to help you stay more in control of your business while on-the-go. 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.

If you’re interested in our payroll software, you can start a free 30-day trial when you sign up for Wave. We also took our expert’s view into accounting when calculating our star ratings. Wave offers accrual-basis accounting only, not cash-basis accounting.

In addition, Wave allows you to add an unlimited number of partners, collaborators, or accountants. This accounting software also offers integrations with popular accounting software, such as QuickBooks and Xero. You can opt to get an expert to coach you on your books or hire someone to do your books for you.


You shouldn’t have any limitations when handling bookkeeping processes. Waveapps’ services are only available in the US and Canada, limiting business growth potentials. Akaunting eliminates borders, localizing your customer experience in 100+ countries. The “dig deeper” section gives you the details of your transactions.

  • Import your customers, vendors, products/services, invoices, and chart of accounts from Wave accounting software to Akaunting in just a few clicks.
  • You can create customizable invoices and monitor their payments, and accept credit card payments as well as online bank transfers.
  • The layout is clean and easy to understand, and there is a clear flow for each of Wave’s features.
  • Next, you can add sales tax (if necessary), create customer profiles and customize your invoice templates.

The most basic plan, Simple Start, costs $30 per month, and the top-tier Advanced plan costs $200 per month, which is a sizable investment if you’re running a business on a tight budget. After providing a few basic details about your business — name, type, currency you use, address — you’ll have instant access to your free account. We believe everyone should be able to make financial decisions with confidence. We provide different levels of support for customers who use different features and services from Wave. Stay updated on the latest products and services anytime anywhere.

Wave’s software is free, as opposed to freemium, in that the tools can be used without tiers or limits indefinitely. It has all the features I need and I don’t really have any complaints about it. Ever since I started using Wave Accounting, it has ever been seamless to carry out accounting tasks such as AP and AR without following manual procedures. Monitor your cash flow, stay organized, and stop sweating tax season.

Does Wave have a mobile app?

Our (non-judgmental) team of bookkeeping, accounting, and payroll experts is standing by to coach you—or do the work for you. We built our Payroll tool for small business owners, so it’s easy to use AND teaches you as you go. Create beautiful, free invoices that reflect your business branding. Automate overdue reminders, set up recurring bills, and add notes or terms of service with ease. The Ascent is a Motley Fool service that rates and reviews essential products for your everyday money matters. For the other 42 unfortunate states, you’re on your own, though Wave does promise to guide you through the process.

  • We provide different levels of support for customers who use different features and services from Wave.
  • Wave also offers paid products for payroll, coaching and mobile receipt scanning.
  • With FreshBooks Payments your business can start accepting credit card payments online right away, in just a few clicks.
  • While this is a nice idea, it seems like the insurance option would be more at home under Integrations or Resources.

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. Sage Accounting offers some of the least expensive accounting Wave Accounting plans available and stands out for its in-depth inventory tracking. Although accounting and invoicing are separated into two different product sections on the Wave website (shown similarly below), they don’t require separate accounts.

Wave Customer Support

Wave is an excellent choice for freelancers and small business owners who prioritize cutting costs and simplified finances. Wave offers a wide range of useful financial tools for free, so at the very least it’s worth a shot for new and small businesses trying to figure out what they need in the accounting department. Wave Money is business banking linked to each of its existing platforms for seamless bookkeeping. While still in beta, this product is designed to cater to small businesses by offering free banking, debit cards, and a linked mobile application. This platform boasts a total lack of fees, free ATM networks, and integrated payment processors. The “stay on top of taxes” section compiles the taxes you’ve paid on your invoices and bills.

While some businesses may not need this feature if they already have bookkeepers or accountants, this is a great offering for small businesses who need guidance. Millions of small businesses use Wave’s award-winning accounting and bookkeeping software by Wave. In addition to its free services, Wave has software and services that do come with fees, including Wave Payments, Wave Payroll and Wave Advisors for bookkeeping support and accounting coaching. If Wave isn’t a good fit for you, read through our article on the year’s best free accounting software. The article kicks off with Wave, but it includes reviews for nine other free bookkeeping programs that you might prefer. Enter some basic information about your business’s accounting software needs and we’ll send you up to five personalized quotes for absolutely free.

In short, it’s a great all-in-one accounting app that won’t break the bank. Also, Wave’s subscription plan structure gets pricey faster than, say, FreshBooks, which provides a four-tiered subscription schedule. For example, Bookkeeping support costs $149 per month, which can be a lot for small businesses. Wave accounting is a cloud-based accounting website designed for freelancers, self-employed contractors, small business entrepreneurs, and startup owners.

Review of Wave accounting support

Wave Payments lets your customers make a payment directly from their invoice, and accepts all major credit cards. Payroll fees vary, with supported states paying a $35 monthly fee, while the other states are charged $20 per month. There is also an additional $4 per employee charge assessed each month.

Just as with invoices, you can add items from your “services and products” list or create a new item. When you’re done, click the “save” button and you’ll go back to the “bills” page. Creating bills is much simpler than creating invoices, as you don’t have to send them to your vendors. To sign up with Wave, you need to enter your email address plus the name and category of your business. Wave’s inventory management feature is very basic, so if you’re a product-based business, you should consider alternatives like QuickBooks Online or Xero. You can add a product or service, but not the quantity purchased or sold.

If you don’t need lots of technical accounting solutions besides accounting and payroll, Wave Accounting with the Payroll add-on is your best choice. The “focus on customers” section contains “income by customer” and “aged receivables” reports, both of which help you track the relationship between your money and your customers. Using “income by customer,” you can see which customers are the most profitable. “Aged receivables” lets you monitor overdue invoices and unpaid invoices. Creating an invoice using Wave is easy, and it has a clear flow.

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In addition, Wave doesn’t have any dedicated time-tracking features, which can be an issue for some businesses. So yes, it’s excellent accounting software for small businesses, freelancers, contractors, and sole proprietorships. Wave’s payroll feature allows you to run payroll and pay your employees and contractors with more ease than ever before. You can use the software to deposit payments into employees’ bank accounts with one click. Accounting software is essential for freelancers, contractors, and businesses in general.

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