Wave Accounting is a free, cloud-based accounting platform exclusively for small businesses. It supports double-entry bookkeeping and permits unlimited user access, invoicing, and expense management. Wave Accounting integrates with Wave's invoicing, receipt scanning, payment processing and payroll apps.
$0
Pricing
Wave Accounting
Editions & Modules
Starter
$0
Pro
$16
per month
Pro - billed annually
$170
per year
Offerings
Pricing Offerings
Wave Accounting
Free Trial
No
Free/Freemium Version
Yes
Premium Consulting/Integration Services
No
Entry-level Setup Fee
No setup fee
Additional Details
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More Pricing Information
Community Pulse
Wave Accounting
Features
Wave Accounting
Payroll Management
Comparison of Payroll Management features of Product A and Product B
Wave Accounting
6.2
Ratings
22% below category average
Pay calculation
7.10 Ratings
Benefit plan administration
7.50 Ratings
Direct deposit files
1.20 Ratings
Salary revision and increment management
7.70 Ratings
Reimbursement management
7.40 Ratings
Customization
Comparison of Customization features of Product A and Product B
Wave Accounting
8.5
Ratings
11% above category average
API for custom integration
9.90 Ratings
Plug-ins
7.00 Ratings
Security
Comparison of Security features of Product A and Product B
Wave Accounting
6.4
Ratings
26% below category average
Single sign-on capability
6.40 Ratings
Role-based user permissions
6.40 Ratings
Reporting & Analytics
Comparison of Reporting & Analytics features of Product A and Product B
Wave Accounting
6.3
Ratings
22% below category average
Dashboards
6.00 Ratings
Standard reports
8.00 Ratings
Custom reports
5.00 Ratings
General Ledger and Configurable Accounting
Comparison of General Ledger and Configurable Accounting features of Product A and Product B
Wave Accounting
7.0
Ratings
11% below category average
Accounts payable
7.10 Ratings
Accounts receivable
7.10 Ratings
Cash management
8.50 Ratings
Bank reconciliation
8.50 Ratings
Expense management
7.50 Ratings
Time tracking
9.80 Ratings
Fixed asset management
9.80 Ratings
Multi-currency support
10.00 Ratings
Multi-division support
7.10 Ratings
Regulations compliance
5.00 Ratings
Electronic tax filing
5.90 Ratings
Self-service portal
8.00 Ratings
Global Financial Support
9.00 Ratings
Primary and Secondary Ledgers
9.00 Ratings
Intercompany Accounting
4.00 Ratings
Localizations
5.20 Ratings
Journals and Reconciliations
8.50 Ratings
Enterprise Accounting
4.00 Ratings
Configurable Accounting
5.00 Ratings
Centralized Rules Framework
1.00 Ratings
Standardized Processes
7.00 Ratings
Inventory Management
Comparison of Inventory Management features of Product A and Product B
Wave Accounting
8.1
Ratings
10% above category average
Inventory tracking
5.60 Ratings
Automatic reordering
9.90 Ratings
Location management
8.10 Ratings
Manufacturing module
9.00 Ratings
Order Management
Comparison of Order Management features of Product A and Product B
Wave is free to use, and they have some premium features you can pay for. For someone just starting out as a small business, freelancer or independent contractor, this is a Godsend. You can look professional, have something easy to manage, and yet also have excellent records come the end of the year. You won't spend a bunch of time having to learn the program, it's very intuitive and you get a host of great features that will make getting paid easy.
The dashboard provides instant views of month-by month income & expenses for the past 12-24 months, a breakdown of current year expense by category, and net income for the past year and year-to-date.
Invoicing has easy templated set up has lots of per invoice options such as single/recurring payment options, due dates.
Year end reports are easy to generate in either pdf or csv format.
One area of improvement for Wave would be combining the various mobile applications into one app.
Another room for improvement would be on the dashboard level. It would be great if they could use more bar graphs and get away from pie charts for things like expenses.
Some of the other areas from improvement have been addressed by recent updates so I am excited to see what else Wave brings out.
Wave [Accounting] is very simple and easy to use. Minimal training was required for all our users as the interface is very user-friendly, especially for small businesses looking to use something to track their financial data, Invoice and make payments. I loved using Wave [Accounting]. It lookes professional and [has] all the features we were looking for.
Wave does tend to slow down when filtering your transactions screen especially by date. This is more of an issue when trying to trouble shoot certain transactions or clean-up a set of books.
I've only had to reach out to support once and they were quick to respond and offered valuable insight to resolve my issue quickly. The team is knowledgeable and if the person you're dealing with doesn't have an answer for you, they get back to you quickly with an answer. It was clear that the support team is genuinely concerned about users making the most of the software.
Wave's price point was in line with what my company needed to manage basic accounting (payable and receivable accounts). It made it easy for me to issue monthly invoices to clients and track when invoices were paid. The software makes these tasks easy to manage and inputting data for accurate accounting and invoicing is a breeze. It really offers a lot of flexibility, so you can use the software the way you need it.
Wave has enabled our accounts payable to maintain a 99% closure rate by leveraging auto reminders through the email system.
Our quote to invoice process is a single click, saving time and effort. Even minor changes during that transition occur simply and easily.
Aside from payments, Wave has been free for our usage. Our bottom line is better because we're not investing in software but instead embracing an entire ecosystem.