Wave: Small Business Software Apps on Google Play

Set up recurring invoices for your finance clients and safely store credit card info so you have one less thing to keep track of. Our partners cannot pay us to guarantee favorable reviews of their products or services. A common issue when invoicing in Microsoft Word, Excel, or other DIY solutions is making calculation errors.

While Wave provides unlimited invoices, it might be best to look elsewhere if you are looking for more robust account software. Both QuickBooks and Invoice2go offer more comprehensive features like time tracking to easily record billable hours and export them into an invoice. For businesses that carry inventory, QuickBooks Online offers strong inventory tracking that alerts users when the inventory gets low.

Akin to having a scammer handle your payments

Click on “support” and a box will appear, letting you search for your issue in Wave’s help center. Similar to “focus on customers,” the “focus on vendors” section lets you see the relationship between your vendors and money. This section consists of “aged payables” and “purchase by vendor” reports.

It’s a fairly slim set of reports for a double-entry accounting website, but it provides adequate coverage considering the site’s feature set. Wave also allows cash basis reporting for relevant reports. Wave offers customizable views within the Invoice screen that display, for example, a list of invoices for a specific customer or date range. The site also provides report templates that can be generated and viewed within the application and exported as CSV or PDF files.

Extra Wave Costs & Fees

As such, Wave couldn’t get back the money needed for the chargeback. After this we continued to receive payments which were much greater the what was needed to cover the chargeback, but Wave has put the vast majority of these funds on hold. So we can’t cover the overdraft caused by their debiting our account when the balance was insufficient, and we can’t pay our overhead because they are holding funds. We’ve repeatedly attempted to resolve this issue, but Wave support is now going in circles and never giving us a clear idea of what’s going on.

Wave has a robust set of simple features that are easy to use, even if you have no experience with accounting or bookkeeping. It’s designed for people who are not familiar with managing their finances, so if you’re looking for something more advanced, consider taking a look at its paid competitors. B2B & SaaS market analyst and senior writer for FinancesOnline. He is most interested in project management solutions, believing all businesses are a work in progress.

Horrible experience

You can also send your receipt to [email protected]. Wave will process the uploaded receipts to extract information. Then you can review these receipts, and the ones that are approved are kept as expenses. After approving a draft, you can send an invoice to a customer by clicking on the “send invoice” button. Wave will send the email through your connected email address.

We encourage you to research and compare multiple accounting software products before choosing one. 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 time tracking, inventory management and employee expenses management, none of which are offered with Wave. Wave’s free accounting software can be a great option if you run a very small service-based business or don’t need more advanced features that alternatives might offer. For small businesses any larger than that, however, Wave is extremely limited. Unlike competitors, Wave doesn’t offer multiple plans to increase the software’s functionality.

How Much Does Wave Cost?

I’m giving one star because ZERO stars is not an option. Forget about customer service – and I’m a paying customer! DO NOT consider switching to Wave if you have any credit cards from American Express. And here’s the best part – I pay Wave to do their job! Connecting to your financial accounts is an especially important task since Wave is built on this exchange of data. The site does allow manual entry of transactions, but it’s nearly impossible to run your business this way because you can’t see when transactions have cleared until you get your monthly statement.

It also complies with accounting standards and helps automate the reconciliation process. Wave Accounting is an ideal choice for micro-businesses with less than 10 employees, contractors, freelancers how do businesses use retained earnings and how can accountants help and other service-based businesses on a budget. This financial management platform is user-friendly and approachable — especially for those with no prior accounting experience — yet fully functional.

TRUST the other reviews and steer clear of this POS company. Unlike a majority of its competitors, Wave does not have a comprehensive mobile app. While it does offer a free iOS and Android app, the app is limited in the number of features and functions.

Finally, if you need extra help with your bookkeeping, accounting, or taxes, Wave Advisors is a service you can add to your account. This option is great for business owners who are new to accounting or want to outsource bookkeeping and/or tax filing. Compared to its paid competitors, Wave is more user-friendly, even for people who are new to accounting.

1 Payouts are processed in 1-2 business days for credit card payments and 1-7 business days for bank payments. Deposit times may vary due to processing cutoff times, third party delays, or risk reviews. 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. Since you don’t have to pay anything to get started, it’s certainly worth trying out. Wave also offers a free app to help you manage your invoices on the go.

Wave Accounting at a glance

If they couldn’t verify our business, why did they turn on Wave Payments the first time for a year?! Accounting transactions are very limited; gotta have workarounds to fix issues. Wave manages to include what you need to know about transactions on one screen.

• Although Wave’s invoicing capabilities make it a particularly appealing option for service-based businesses, this small-business accounting software does have its limitations.
• Click Sales & Payments, for example, and you can click again to go immediately to screens such as Estimates, Invoices, Customer Statements, and Products & Services.
• During the application process they gathered many pieces of personal and banking info, and then fail to supply the service long term.
• Wave also has its own payment processing system, so your clients can pay invoices online by credit card or bank transfer.
• However, some features are noticeably missing, such as project management and budgeting, that are found with paid software options such as QuickBooks Online.

Full details on how Wave support works are available here. See invoice summaries, tap into business reports, receive payment notifications and more using our highly-rated, free mobile app, available on iOS and Android. Quickly build project estimates and professional invoices that reflect your business. Upload your logo, add customer info, share notes, and set net payment terms with ease. Make it easier for your customers to pay you right from their bank account. Give your customers the option of paying with one click using a credit card, bank transfer, or Apple Pay.

The only way is to constantly email them and ask for someone to call. After a few months they refunded 2 transactions of a client again. Hostingdata.co.uk operates by earning a small fee when readers visit products or services we discussed. Wave has some difficulty reading blank lines when linking your bank account or other financial documents to the software. You can alternatively upload a bank statement or add your transactions manually, but that last option is likely too time-consuming for comfort. Click “connect your bank” on the first screen on your dashboard.