Wave: Small Business Software

The guide has everything you need to be successful and build confidence. You’ll come back to it again and again as part of your success toolkit as your business changes and grows over time. Download a copy of Fearless Accounting with Wave to get started. After creating your account, everything is set up so you can get started. Your data is always available, and backed up for extra peace of mind. Your financial transactions will appear directly on the Wave interface dashboard in no time.

• It organizes your income, expenses, payments, and invoices for efficient and accurate tax preparation.
• Wave can help you manage your invoices and take your business to new heights.
• These features help keep our invoicing, accounting, and business banking (currently only available to sole proprietors in the US) free.
• Xero lets you add unlimited users in all plan tiers and, similar to QuickBooks Online, can grow alongside your business.
• After providing a few basic details about your business — name, type, currency you use, address — you’ll have instant access to your free account.

Our bookkeeping and banking tools can be used separately or together for maximum control of your business finances. You work hard to make your business a success – that’s why Wave uses both physical and digital protection to keep your money safe. Connect to your bank with read-only and 256-bit encryption. Wave is also PCI Level-1 certified – which is often necessary with third-party merchant service providers.

Organized and stress-free small business accounting

FreshBooks is an affordable option for freelancers and small service-based businesses that operate mostly 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. Includes tools that help automate the reconciliation process; auto-categorizes transactions for you, but you can’t set up your own bank rules; no global search function.

• Connect to your bank with read-only and 256-bit encryption.
• You can use the Wave cloud accounting system for all your invoicing, reporting, receipts, quotes/estimates, and more for free!
• Keep your income flowing in with the help of flexible payment options, and money transfers in as little as two days.
• Wave displays instant invoicing, payroll, and payments data updates, along with dashboards for cash balances.
• Operating cash flow is the part of the cash flow statement that shows how much money a business earns from typical operations.

You can connect nearly 10,000 different bank and credit card accounts with Wave, so your financial transactions import automatically to make your bookkeeping simple. When everything is neatly where it belongs, tax time is simple. Wave’s smart dashboard organizes your income, expenses, payments, and invoices. 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 cash flow trends.

Wave accounting software is the solution you need to take charge of your business and keep your hard-earned income safe. Wave is cloud-based, so you can securely access your accounting software and your financial information anywhere you are – whether you are working in your pjs, or waiting for a meeting to start. You can also choose from Wave’s selection of free, beautifully designed invoice templates to make sure every touch point with your client instills confidence in your personal brand. The right software helps business owners quickly categorize transactions and generate financial statements.

Contractors like you have a lot to manage, so you shouldn’t have to get bogged down by accounting work. Wave’s accounting software is designed to help contractors and business owners like you quickly visualize cash flow, send invoices to customers, and track expenses without hassle. You don’t need an accounting background to manage your bookkeeping. Wave allows you to search transactions, design accounting reports and reconcile data across other Wave products. Plus, you can calculate sales tax automatically, customize payment terms and enjoy access to easy-to-understand cash flow insights.

Easy to understand accounting reports

From the dashboard (or the Banking menu on the left-hand side), you’ll be able to connect your bank and credit card accounts to automatically download and categorize your transactions. Wave can help make sure you are paid for your hard work. Get rid of late payments by including features like automated reminders and recurring invoices. Make it easy and convenient for your clients to pay by offering options such as bank transfers, credit cards, and online payments.

Banking

The $10 million in new funds have been earmarked for ongoing innovation and further development of the firm’s core accounting and small business software. In November of 2010, Wave Accounting released its first major software version, which came with unlimited financial data downloads and unlimited invoicing. Wave Accounting was included in both of these lists as a top accounting tool.

What is Wave Accounting?

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. Safely hand off your books to your accountant by adding them as a limited user. Since Wave uses accountant-approved, real double entry accounting, your accountant will have all the information they need.

Our double-entry accounting software is trusted by over 2 million small business owners. A successful contractor job requires the right tradesperson, the right materials, and the right building practices. A successful contracting business also requires the right accounting software. Track expenses, manage payroll, and prep for tax time with Wave’s free accounting software for contractors. Wave Accounting offers free software, meaning you won’t need to submit a credit card or payment information to use it. It can help you manage your bookkeeping, accounting and invoicing processes through a few internal integrations.

Since you don’t have to pay anything to get started, it’s certainly worth trying out. Wave’s invoicing is free and unlimited, with three customizable templates and a user-friendly interface, putting it on par with some of the best invoicing software solutions for small businesses. Other capabilities include recurring invoicing and the option to let repeat clients opt into automatic credit card billing. Wave Accounting is ideal for manufacturing cost 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. 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.

Unlike QuickBooks and FreshBooks, Wave Accounting is completely free to use. It can allow you to manage all your accounting processes without paying a dime. It’s also intuitive so you don’t need to be an accountant to use it successfully.

If you’re an SSTB, you’ll either get the full 20% deduction, a limited deduction, or no deduction at all based on your total taxable income.So, what’s total taxable income? This refers to your income before the QBI deduction happens. This could include any wages from other jobs, money earned from your spouse, and things like interest and dividends, capital gains, and even rental income. Most taxpayers will see this as “adjusted gross income” which is noted on Form 1040. If you’re a startup, micro-business or sole proprietor who doesn’t want to invest in accounting software but needs to keep track of your finances, Wave Accounting is a great option. As long as you’re content with basic features and don’t see yourself expanding in the foreseeable future, you’ll find this completely free, easy-to-use software particularly appealing.