Wave Accounting

Who Uses Wave Accounting?

Wave's target market is small business owners (1-9 employees), freelancers and solo entrepreneurs. Wave has users in 200 countries around the world and our ecosystem is 4 million strong.

What Is Wave Accounting?

Wave offers 100% free, real double-entry accounting for small businesses. As a cloud-based software, Wave allows you to access your data from anywhere, add unlimited collaborators and work on all of your businesses from a single login. Wave eliminates data-entry and puts the financial reports you need at your fingers tips, allowing you to spend more time doing what you love. Your accounting is also seamlessly integrated with invoicing, receipt scanning, payment processing and payroll.

Wave Accounting Details

Wave Apps

https://www.waveapps.com

Founded 2009

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Free Trial

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Wave Accounting deployment and support

Support

  • Email/Help Desk
  • FAQs/Forum
  • Knowledge Base
  • Chat

Deployment

  • Cloud, SaaS, Web-based
  • Android (Mobile)
  • iPhone (Mobile)

Training

  • In Person
  • Live Online
  • Webinars
  • Documentation
  • Videos

Wave Accounting Features

  • API
  • Access Controls/Permissions
  • Accounting
  • Accounts Payable
  • Accounts Receivable
  • Activity Dashboard
  • Activity Tracking
  • Approval Process Control
  • Audit Management
  • Audit Trail
  • Automatic Billing
  • Bank Reconciliation
  • Billing & Invoicing
  • Budgeting/Forecasting
  • CPA Firms
  • Compliance Management
  • Credit Card Processing
  • Document Storage
  • Expense Claims
  • Expense Tracking
  • Financial Management
  • Financial Reporting
  • Fixed Asset Management
  • For Government
  • Fund Accounting
  • General Ledger
  • Income & Balance Sheet
  • Inventory Management
  • Inventory Tracking
  • Invoice Management
  • Mobile Access
  • Multi-Currency
  • Multi-Location
  • Nonprofits
  • Order Management
  • Payroll Management
  • Project Accounting
  • Project Management
  • Projections
  • Purchase Order Management
  • Purchasing & Receiving
  • Quotes/Estimates
  • Receipt Management
  • Recurring/Subscription Billing
  • Reminders
  • Sales Tax Management
  • Status Tracking
  • Tax Management
  • Third Party Integrations
  • Workflow Management

View full list of Accounting Software

  • ACH Payment Processing
  • API
  • Account Reconciliation
  • Accounting
  • Accounting Integration
  • Activity Dashboard
  • Aging Tracking
  • Alerts/Notifications
  • Approval Process Control
  • Bank Reconciliation
  • Billing & Invoicing
  • Cash Flow Management
  • Cash Management
  • Check Processing
  • Collections Management
  • Contact Database
  • Credit Card Processing
  • Customer Statements
  • Customisable Reports
  • Customisable Templates
  • Data Import/Export
  • Discount Management
  • Document Management
  • Electronic Payments
  • Expense Tracking
  • Financial Analysis
  • Financial Management
  • Forecasting
  • General Ledger
  • Inventory Management
  • Inventory Tracking
  • Invoice Management
  • Invoice Processing
  • Multi-Currency
  • Online Payments
  • Order Management
  • Overpayment Processing
  • Partial Payments
  • Profit/Loss Statement
  • Purchase Order Management
  • Real Time Data
  • Real Time Reporting
  • Receipt Management
  • Receivables Ledger
  • Recurring/Subscription Billing
  • Reminders
  • Reporting & Statistics
  • Sales Tax Management
  • Third Party Integrations
  • Workflow Management

View full list of Accounts Receivable Software

  • API
  • Accounting
  • Accounting Integration
  • Activity Dashboard
  • Activity Tracking
  • Alerts/Notifications
  • Billing & Invoicing
  • Billing Portal
  • Client Portal
  • Contact Database
  • Contingency Billing
  • Credit Card Processing
  • Customisable Branding
  • Customisable Invoices
  • Customisable Reports
  • Customisable Templates
  • Document Management
  • Document Storage
  • Dunning Management
  • Electronic Payments
  • Email Management
  • Estimating
  • Expense Tracking
  • Financial Management
  • Hourly Billing
  • Invoice Creation
  • Invoice History
  • Invoice Management
  • Invoice Processing
  • Mobile Payments
  • Multi-Currency
  • Online Invoicing
  • Online Payments
  • Payment Processing
  • Project Billing
  • Projections
  • Purchase Order Management
  • Purchasing & Receiving
  • Quotes/Estimates
  • Real Time Data
  • Real Time Reporting
  • Recurring/Subscription Billing
  • Reminders
  • Reporting & Statistics
  • Sales Tax Management
  • Tax Calculation
  • Third Party Integrations
  • Time & Expense Tracking
  • Timesheet Management
  • Workflow Management

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  • ACH Payment Processing
  • API
  • Access Controls/Permissions
  • Account Reconciliation
  • Accounting
  • Accounting Integration
  • Accounts Payable
  • Accounts Receivable
  • Activity Dashboard
  • Bank Reconciliation
  • Billing & Invoicing
  • Bookkeeping Services Integration
  • Budgeting/Forecasting
  • Cash Flow Management
  • Cash Management
  • Categorisation/Grouping
  • Collections Management
  • Credit Card Processing
  • Customisable Templates
  • Data Import/Export
  • Document Storage
  • Electronic Payments
  • Estimating
  • Expense Claims
  • Expense Tracking
  • Financial Analysis
  • Financial Management
  • Fixed Asset Management
  • General Ledger
  • Income & Balance Sheet
  • Invoice Management
  • Invoice Processing
  • Mobile Access
  • Multi-Currency
  • Payroll Management
  • Profit/Loss Statement
  • Purchase Order Management
  • Real Time Data
  • Receipt Management
  • Recurring/Subscription Billing
  • Reminders
  • Reporting & Statistics
  • Revenue Recognition
  • SSL Security
  • Sales Tax Management
  • Spend Management
  • Tax Management
  • Third Party Integrations
  • Transaction History
  • Vendor Management

View full list of Bookkeeping Software

  • ACH Payment Processing
  • API
  • Accounting
  • Accounting Integration
  • Accounts Payable
  • Accounts Receivable
  • Activity Dashboard
  • Asset Tracking
  • Attendance Management
  • Bank Reconciliation
  • Billing & Invoicing
  • Budgeting/Forecasting
  • Cash Flow Management
  • Cash Management
  • Check Printing
  • Compliance Management
  • Credit Card Processing
  • Customisable Branding
  • Customisable Reports
  • Customisable Templates
  • Data Import/Export
  • Donation Management
  • Electronic Payments
  • Event Management
  • Event Scheduling
  • Expense Tracking
  • Financial Analysis
  • Financial Management
  • Financial Reporting
  • For Religious Organizations
  • Fund Accounting
  • General Ledger
  • Invoice Management
  • Invoice Processing
  • Membership Management
  • Mobile Access
  • Multi-Currency
  • Payroll Management
  • Purchase Order Management
  • Real Time Data
  • Real Time Reporting
  • Receipt Management
  • Recurring/Subscription Billing
  • Reminders
  • Reporting & Statistics
  • Sales Tax Management
  • Third Party Integrations
  • Time & Expense Tracking
  • Transaction History
  • Volunteer Management

View full list of Church Accounting Software

  • API
  • Account Reconciliation
  • Accounting
  • Accounting Integration
  • Activity Dashboard
  • Activity Tracking
  • Approval Process Control
  • Audit Management
  • Audit Trail
  • Budgeting/Forecasting
  • Categorisation/Grouping
  • Compliance Management
  • Configurable Workflow
  • Corporate Card
  • Credit Card Management
  • Currency Conversion
  • Customisable Reports
  • Customizable Fields
  • Data Import/Export
  • ERP
  • Electronic Payments
  • Expense Claims
  • Expense Tracking
  • Financial Analysis
  • Fraud Detection
  • Invoice Management
  • Invoice Processing
  • Mileage Tracking
  • Mobile Access
  • Mobile Receipt Upload
  • Multi-Currency
  • Policy Management
  • Projections
  • QuickBooks Integration
  • Real Time Analytics
  • Real Time Data
  • Real Time Notifications
  • Real Time Reporting
  • Real-time Updates
  • Receipt Management
  • Reimbursement Management
  • Reminders
  • Reporting & Statistics
  • Single Sign On
  • Spend Analysis
  • Spend Control
  • Third Party Integrations
  • Time & Expense Tracking
  • Timesheet Management
  • Workflow Management

View full list of Expense Report Software

  • ACH Payment Processing
  • API
  • Accounting Integration
  • Activity Dashboard
  • Alerts/Notifications
  • Bank Reconciliation
  • Billing & Invoicing
  • Billing Rate Management
  • CRM
  • Client Portal
  • Contact Database
  • Credit Card Processing
  • Customer Accounts
  • Customer Database
  • Customisable Branding
  • Customisable Reports
  • Customizable Fields
  • Dashboard
  • Data Import/Export
  • Deferred Billing
  • Discount Management
  • Dunning Management
  • Electronic Payments
  • Email Invitations & Reminders
  • Email Templates
  • Invoice Management
  • Invoice Processing
  • Mobile Access
  • Multi-Currency
  • Multi-Period Recurring Billing
  • Multiple Payment Options
  • Order Management
  • PCI Compliance
  • Payment Processing
  • QuickBooks Integration
  • Real Time Analytics
  • Real Time Data
  • Real Time Reporting
  • Recurring Invoicing
  • Recurring/Subscription Billing
  • Refund Management
  • Reminders
  • Reporting & Statistics
  • Revenue Management
  • Revenue Recognition
  • Sales Tax Management
  • Self Service Portal
  • Subscription Management
  • Third Party Integrations
  • Transaction History

View full list of Recurring Billing Software

  • "What If" Scenarios
  • API
  • Access Controls/Permissions
  • Account Reconciliation
  • Accounting
  • Accounting Integration
  • Activity Dashboard
  • Alerts/Notifications
  • Approval Process Control
  • Audit Management
  • Audit Trail
  • Bank Reconciliation
  • Billing & Invoicing
  • Budgeting/Forecasting
  • Cash Flow Management
  • Cash Management
  • Compliance Management
  • Consolidation/Roll-Up
  • Customisable Reports
  • Customisable Templates
  • Dashboard Creation
  • Data Import/Export
  • Data Visualisation
  • ERP
  • Electronic Payments
  • Expense Tracking
  • Financial Analysis
  • Financial Management
  • Forecasting
  • General Ledger
  • Income & Balance Sheet
  • Invoice Management
  • Invoice Processing
  • Monitoring
  • Multi-Company
  • Multi-Currency
  • Planning Tools
  • Profit/Loss Statement
  • Projections
  • Purchase Order Management
  • Real Time Analytics
  • Real Time Data
  • Real Time Reporting
  • Receipt Management
  • Reporting & Statistics
  • Reporting/Analytics
  • Scenario Planning
  • Third Party Integrations
  • Visual Analytics
  • Workflow Management

View full list of Reporting Tools

Wave Accounting Alternatives

More Wave Accounting alternatives

Wave Accounting Reviews for UK Users

Read all reviews

Overall rating

4.4/5

Average score

Ease of Use 4.4
Customer Service 4.1
Features 4.2
Value for Money 4.7

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Write a Review!
Josh C.
Josh C.
Owner
Design, Self Employed
Used the Software for: 2+ years
  • Overall Rating
  • Ease of Use
  • Features & Functionality
  • Customer Support
    Unrated
  • Value for Money
  • Likelihood to Recommend
    10/10
  • Reviewer Source 
  • Reviewed on 05/08/2021

"Awesome free accounting online software for your business that is super professional!"

Comments: There is very little more I can ask for with Wave for my small business. It is free for the features I need and allows me to take only ACH or credit card payments with a reasonable fee and I only pay the fixed percentage when I use those features so I can just turn it off and get a check from a client and not pay anything. Great Flexibility!

Pros: Its free for small businesses that just need a good business accounting software! You can take ACH and CC payments if you want and turn them off on invoices you don't want it on. The rates are reasonable enough for using these services. The reports are easy enough for doing taxes. It's awesome and cheap for those that are one man shows or freelancers.

Cons: The thing that is the most annoying is when you want to do a recurring billing. It doesn't use something like Maintenance contract #1 then go to #2 or something like that it makes recurring billing invoice names that were the most recent of any invoices. Maybe I am not using it correctly, but each time I have to go and change invoice names then manually send it to the client.

  • Reviewer Source 
  • Reviewed on 05/08/2021
Rowan M.
Owner
Construction, Self Employed
Used the Software for: 6-12 months
  • Overall Rating
  • Ease of Use
  • Features & Functionality
  • Customer Support
  • Value for Money
  • Likelihood to Recommend
    10/10
  • Reviewer Source 
  • Reviewed on 23/07/2021

"Solid free platform for small business"

Comments: I am really impressed for a free offering. Everything looks and feels professional and I'm able to focus on running my business and not learning accounting.

Pros: Having a system that connects to your bank and imports all the transactions for you is a game changer. This is almost as simple as using something like Mint to manage your personal budget. Once the transactions are imported, they definitely lead you down the path to success even if you know nothing about accounting.

Cons: The lack of accounting/reporting for individual projects is a massive omission. I don't think they need a full blown project system, but just some way to tag transactions so that you know the expenses and income for a given project. I also found the sales tax feature a little simplistic. Here in Washington state we have really small tax zones (customers less than a mile apart can be in different zones) and I have to track the sales tax collected/paid per zone. I was able to do this, but it feels very clunky as the system seems to be designed for a just a handful of different sales taxes.

  • Reviewer Source 
  • Reviewed on 23/07/2021
Josh R.
Senior Copywriter
Marketing & Advertising, 5,001-10,000 Employees
  • Overall Rating
  • Ease of Use
    Unrated
  • Features & Functionality
    Unrated
  • Customer Support
    Unrated
  • Value for Money
    Unrated
  • Likelihood to Recommend
    Unrated
  • Reviewer Source 
  • Source: GetApp
  • Reviewed on 07/06/2015

"I want to like Wave, and have been trying for years"

Comments: ..., but I need them to help me figure it out. I have a full-time salaried job as a copywriter and a few self-employment careers, like freelance writing, voice acting. I've always found doing my taxes to be a nightmare. I'd spend months stressing about it and trying to calculate income and expenses. Originally, I was adding up all my expenses with a calculator. When I discovered I could put things into Excel, it got a bit easier add numbers. And then about 4 or 5 years ago, I started using a new accountant, and he suggested Wave to me. I was excited to hear that it would important my bank and credit card statements, and that I could then quickly and easily categorize everything. I was sure this would save me so much time and stress. But I found Wave very hard to use. I wasn't sure how to create my own categories. I could never tell if my statements had been uploaded completely, and I would often wind up with duplicate transactions. And I still can't find a way to view the categories after I've allocated transactions to them. I tweeted to Wave a lot, and they were nice enough to send one their IT guys to sit with me in a coffee shop for a few hours. He watched as I tried to do things and he gave me help. He said this was useful to him, to see what people might be having trouble with. And, I figured I would then be ok. But I'm still having a lot of trouble. I'm not asking a lot. All I want to be able to do is import my bank statements and credit card statements, and categorize all the transactions. And being able to invoice people would be nice too. And it seems that his app has those features. But I still find it very complicated. I don't understand the categories. I can't find where the totals are. And lately, my mbna Mastercard has been saying it can't link to Wave. So tonight, I went in and started deleting all the transactions from 2014, hoping that I could start fresh and be sure that everything was imported correctly. But now I see that mbna won't give me the data files for before August (that's an mbna problem, not Wave) and I can't undelete what I deleted. And there's no way to get support without paying for it. But I don't want to pay until I'm confident the site can do the simple things I need it to do. Anyway, I'd love to support a local Toronto company. And I appreciate that someone from the company sat with me in person. And I see people reviewing positively, saying it makes a freelancers life easy. Someone even tweeted today that Wave makes doing accounting fun. But I just don't understand how people are able to use this site. If someone from the company, or one of the satisfied customers, could explain to me how to use this site properly, I'd love to be converted. But at this point, I fear I need to cut my loses and simplify my life by paying for some other software. I just want to be able to file my taxes and concentrate on my creative projects.

Pros: It seems like it offers the ability to import credit card and bank statements, categorize expenses, and invoice people. Those are the features I want. But...

Cons: ...I haven't been able to figure out how to smoothly and accurately use the features I want. This app is making my life harder than it was when I just manually typed in all my expenses into a Microsoft Word and added them up with a calculator.

Vendor Response

by Wave Accounting Inc. on 02/09/2015

Thanks for sharing with us your experience. Firstly, thanks for being such a valuable customer over the years. We especially appreciate your patience trying to make WaveApps work for your financials.

We have available Premium Support for customers who are getting started with Wave. We suggest those looking to best learn work arounds, and setting up proper customizations subscribe to our chat and phone support (unlimited - 9am-5pm EDT M-F) - $49 for three months. You can place a call and speak to one of our product specialists to help you work through your challenge.

If you could reach out to me [email protected] We'll try to match you with a member of our team to help troubleshoot since you have invested your valuable time into Wave to manage your business financials.

Jennifer from Wave

  • Reviewer Source 
  • Source: GetApp
  • Reviewed on 07/06/2015
Jennifer P.
Jennifer P.
Self-employed
E-Learning, Self Employed
Used the Software for: 2+ years
  • Overall Rating
  • Ease of Use
  • Features & Functionality
  • Customer Support
  • Value for Money
  • Likelihood to Recommend
    10/10
  • Reviewer Source 
  • Reviewed on 09/06/2021

"Free invoicing, billing, and accounting software with paid upgrade features"

Comments: I like that I can do my own bookkeeping and light accounting and this keeps me relatively sane come tax time. I highly recommend Wave to anyone who's willing to learn at least a bit about accounting! With Wave Payments and Wave Payroll, the software works well for self-employed folks just getting started and will grow with them as they add to their team.

Pros: The cost is compelling -- free! -- but beyond that I find the software is advanced enough to do what I need without being utterly overwhelming like other options. I'm not accountant and there's only so much geeking out I want to do. I can send invoices, get paid, track all my expenses and payments, handle business AND personal finances from the same account, and it all works really well with my bank and integrates decently with Stripe via Zapier.

Cons: I'd love Wave Payments to allow for payments in more than one currency. I can invoice in USD and CAD (my main), but I can only accept online payments via Wave in CAD. No biggie.

  • Reviewer Source 
  • Reviewed on 09/06/2021
Andrew R.
President
Building Materials, 11-50 Employees
Used the Software for: 2+ years
  • Overall Rating
  • Ease of Use
  • Features & Functionality
  • Customer Support
  • Value for Money
  • Likelihood to Recommend
    10/10
  • Reviewer Source 
  • Reviewed on 05/08/2021

"Perfect book keeping and invoicing Software"

Comments: I have had a wonderful experience using Wave Accounting and have encountered no problems at all.

Pros: The fact that this software is 100% free and includes the aspects that are most critical to my business is why I give this such a high rating. The interface is easy to use and getting the system setup and all data input is a breeze. Wave has made my life so much easier and has taken hours of paperwork off of the table. Easy, convenient, reliable, absolutely affordable!

Cons: It does not keep track of inventory or scheduling jobs, but this was not a huge factor for me because I use an old fashioned appointment book and for all of the other free features it’s definitely worth it.

  • Reviewer Source 
  • Reviewed on 05/08/2021