‎Wave: Small Business Software on the App Store

Invoicing, payments, and banking all in one place that saves you time, gets you paid, and makes money management easy. There are no trials or hidden fees, and it includes all the key features you need to keep your books accurate and run your business smoothly. Our double-entry accounting software is trusted by over 2 million small business owners. The right small business accounting software can take the stress out of balancing your business’s books, separating your business and personal expenses, and prepping your business for tax season.

Failure to maintain compliance puts your small business at risk of penalties and other legal consequences. Therefore, opt for accounting software with features such as automatic tax updates, integrated compliance checklists, and audit-ready transaction records. QuickBooks Pro and Premier are two different plans available that offer very similar feature sets leading to much confusion. In short, QuickBooks Premier is best for businesses that need industry-specific features, while QuickBooks Pro is ideal for small businesses with general accounting needs. For more information, check out our guide on QuickBooks Pro vs. Premier.

In the wrong hands, this data can lead to identity theft and financial fraud.
And, in the long run, an online payroll software provider like Wave can save you a lot of money by reducing human error so you can avoid tax penalties (and who doesn’t love saving money?).
If you have a question or issue, you can browse the help center or reach out to Mave, the automated chatbot.
Among QuickBooks product offerings are add-ons for payroll, a bank account, advanced accounting, employee time tracking and e-commerce inventory management.
Wave and QuickBooks are two popular platforms for invoicing and accounting for small businesses.

While Wave has a lot to offer when it comes to invoicing, know that it’s still slightly less automated than some competitors. This isn’t necessarily a deal-breaker, but it might require a bit more bookkeeping work. Accounting software like Wave can also seamlessly connect with your bank accounts so you can automate tasks like recording transactions and generating reports. This can help you save time and make financial decisions quickly.

Accounting

It automatically calculates taxes and prepares tax filing reports. Given different locations have unique tax rules and regulations, the software lets you assign specific tax jurisdictions to your business and customers. This ensures accurate tax calculations and protects you from compliance issues.

Create customized invoices and estimate templates that align with your brand and save information about clients and services so you don’t have to re-enter the same information over and over each time you invoice.
However, like most free products, Wave has its limitations, especially compared to more scalable small-business accounting software.
There are no trials or hidden fees, and it includes all the key features you need to keep your books accurate and run your business smoothly.
Additionally, it allows you to define multiple taxes, set a default tax rate, and enter applicable exemptions.

A mobile-compatible accounting solution ensures you can access real-time financial data, manage expenses, approve payments, and generate reports any time, regardless of location. Performing these tasks on the go enhances accessibility and increases efficiency in monitoring financial metrics. Accounting teams in service-based businesses, such as consulting firms or marketing agencies, might find Zoho Books’ billable time tracking feature useful. It allows companies to track billable hours spent on client projects or tasks and categorize time entries to specify the clients or projects they align to. This feature simplifies invoicing by ensuring transparency and precise billing for clients.

You’re our first priority.Every time.

Employees can securely log in to access their pay stubs and W2s, and manage their contact and banking information. Your employees can log into Wave securely to access their pay stubs and T4s, and manage their contact and banking information. 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. For example, the rate a freelance web developer charges may be different than that of a freelance graphic designer, because each freelancer specializes in a different area.

Button up your business with professional invoices.

Our payroll software is seamlessly connected with the rest of your Wave account to reduce the time you spend on manual bookkeeping. Deposit payments quickly, reliably, and directly into your employees’ bank accounts. A common issue when invoicing in Microsoft Word, Excel, or other DIY solutions is making calculation errors. Wave’s invoicing software for small businesses removes the worry of making these errors because calculations are done for you, including the taxes. Every invoice paid means more revenue coming into your small business. Create and send professional invoices to your customers in seconds.

Look professional with customizable invoices

For example, QuickBooks Online doesn’t have a free plan, but offers four paid plans, each with additional features, making it a great choice for scalability. With the higher-tier QuickBooks plans, you have access to inventory management, billable expenses and project profitability tools, none of which are offered with Wave. Strong invoicing feature competes with that of paid products; app lets users send invoices on the go; offers significantly fewer reports than competitors; no inventory tracking. Wave Accounting is ideal for micro businesses with less than 10 employees, contractors, freelancers and other service-based businesses on a budget. The free financial management software is user-friendly and equipped with all the basics, including income and expense tracking, bank connections, invoicing and reporting. Accounting solutions store sensitive financial information, including bank account numbers, credit card details, and contracts.

Can I share Wave Accounting with accountants?

It’s free to use, and the clear user interface makes it easy for anyone to adopt and navigate, so you can spend more time offering your services and less on managing your business. Upon processing your first payroll, you can use Wave Payroll for up to 30 days, commitment-free. At any time, you can activate to start your billing cycle and gain access to items like tax filing and approving payrolls beyond the current month. These 14 states include tax services with the option to automatically transfer tax payments and file the paperwork with your state tax office and the IRS (this excludes 1099 Filings). Sign up for a free Wave account and send your first invoice right away—it only takes a few minutes! You can also set up recurring payments, auto-reminders, and deposit requests to make sure you always get paid on time.

Monitor your cash flow, stay organized, and stop sweating tax season. Kelly Main is a Marketing Editor and Writer specializing in digital marketing, online advertising and web design and development. Before joining the team, she was a Content Producer at Fit Small Business where she served as an editor and strategist covering small business marketing content. She is a former Google Tech Entrepreneur and she holds an MSc in International Marketing from Edinburgh Napier University.

Have an eye on the big picture so you can make better business decisions. Our robust small business accounting reports are easy to use and show month-to-month or year-to-year comparisons so you can easily identify the 12 branches of accounting: their uses and how they work cash flow trends. The transactions will appear in your bookkeeping automatically, and you can say goodbye to manual receipt entry. If you’re a freelancer or other solo service provider, Wave is a better option.

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