Plus, easily access key reports (like profit and loss statements) about the health of your business. Xero lets you add unlimited users in all plan tiers and, similar to QuickBooks Online, can grow alongside your business. Moreover, you can integrate QuickBooks with hundreds of third-party tools available in the app marketplace. There are also add-on Intuit services like QuickBooks Payroll or QuickBooks Time. Only integrates with in-house apps, like Wave Payments and Wave Payroll; does not integrate with card readers for in-person payments. Want to look more polished, save more time, and conquer cash flow?
- The app offers a receipt scanning feature as well, but you have to pay a subscription fee to access it.
- Create unlimited bookkeeping records and keep your records spotless.
- The import from contacts button does not work at all and the layout to get to customers invoice is great after learning where it is.
- The drawback of just offering one plan is that it limits room for growth.
- Wave’s software is simpler—designed for easy use for freelancers and small businesses—while QuickBooks’ platform is designed to cover complex business needs and grow as your business grows.
Clicking done in the top right corner works half the time, with it also glitching and forcing me to start over everything by taking me back to whatever page I was on prior to creating a new contact or new invoice. The import from contacts button does not work at all and the layout to get to customers invoice is great after learning where it is. Not being able to see or input the expenses unless I pay for the quick receipt plan in app is kind of a bummer.
How is Wave different than QuickBooks?
You can effectively analyze the financial health of your business, find ways to generate more profit, and move forward with your business plan. While users never pay startup or monthly fees, Wave does charge a credit card processing fee of 2.9% plus 30 cents per transaction for most cards. This is a typical credit card processing fee that you’ll find on any platform.
What if I just want to try Wave to see if it works for my business?
I’m glad the option is still available online and the system works great and the amount of different charts available is super helpful. 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.
You’ll need to answer a few questions about your business and provide us with a little more information about yourself in order to get approved to accept online payments. With Wave, you’ll be able to send unlimited, customized invoices to your customers, manage an unlimited number of expenses and track unlimited receipts through its receipt scanning and capture feature. The software also does not provide project management features. Users are not able to assign estimates to projects or track income and expenses by project. Wave’s software is simpler—designed for easy use for freelancers and small businesses—while QuickBooks’ platform is designed to cover complex business needs and grow as your business grows.
Know when an invoice is viewed, becomes due, or gets paid, so you can take the right actions to manage your cash flow. Your invoicing and payment information are connected to Wave’s accounting feature, helping you stay organized. Every waveapps invoice paid means more revenue coming into your business. Create and send professional invoices to your customers in seconds. Wave’s dashboard organizes your info to show how your business is performing.
You didn’t start your business to be a bookkeeper
It’s always available, and it’s backed up for extra peace of mind. Today’s leading accounting platforms offer standard security features, such as data encryption, secure credential tokenization and more. While human error will always play some role in security breaches, you can be confident in your accounting platform when it comes to keeping your information safe. Once you sign up online, you can start using Wave’s features right away. All you have to do is share your business name, type, address and the currency you use. Zoho Books offers a robust free plan, along with a range of paid plans that feature workflow automation.
While the invoicing platform is not easy to integrate with popular third-party payroll apps like Gusto or OnPay, Wave does have its own payroll software. Small businesses that plan to hire employees at some point might need to change accounting software systems in the future or upgrade to Wave Payroll. Approval to use online payments is subject to eligibility criteria, including identity verification and credit review.
Features
Keep tabs on your cash flow, know who owes you and who you owe, and access important reports to stay in the know—even on-the-go, with our mobile app, the convenient companion to your desktop experience. In addition to creating invoices, Wave gives users the ability to create estimates for potential clients. Once those estimates are approved, they can easily be transformed into invoices with the click of a few buttons. Similar to other reputable cloud-based accounting software products, Wave encrypts the data you share with it and monitors its server facilities 24/7.
- Wave’s business reports are on par with some of the top invoicing solutions companies for small businesses.
- Create invoices whenever and wherever you want with Wave’s free app for iOS and Android.
- Visit your dashboard or use your invoicing or accounting features, and click the peach “Upgrade now” button.
- Look and feel polished, keep your books organized, and kick tax season’s butt, whether you’re a newbie or seasoned pro.
With the Pro Plan you can also set up recurring payments, auto-reminders, and deposit requests to make sure you always get paid on time. With a Wave Pro subscription, you’ll have recurring billing and other automation features. Schedule everything, from invoice creation and invoice sending, to payment collection and overdue payment reminders. A common issue when invoicing in Microsoft Word, Excel, or other DIY solutions is making calculation errors.
Wave Accounting at a Glance
It’s one of the only truly free options on the market and can allow you to manage your accounting processes in one convenient place. FreshBooks has an excellent mobile app that allows you snap photos of receipts, send invoices and track mileage. In addition to its accounting software, Wave offers other paid services, including Wave Payments, Wave Payroll and Wave Advisors for bookkeeping support and accounting coaching. Wave Accounting is ideal for micro businesses with fewer than 10 employees, contractors, freelancers and other service-based businesses on a budget. The financial management software is user-friendly and equipped with all the basics, including income and expense tracking, invoicing and reporting.
Make bookkeepinga breeze
QuickBooks Online’s detailed reporting and transaction tracking is ideal for growing businesses. Includes tools that help automate the reconciliation process and auto-categorizes transactions for you in the Pro plan, but you can’t set up your own bank rules; no global search function. Our partners cannot pay us to guarantee favorable reviews of their products or services. We believe everyone should be able to make financial decisions with confidence.
It’s hard to beat free accounting software, especially if you’re running a small business on a budget. Wave’s free plan offers a decent number of features, like unlimited invoices, that are not always included with other free accounting software options, let alone paid accounting software plans. It also complies with accounting standards and uses double-entry accounting, which can help ensure accuracy. 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’s business reports are on par with some of the top invoicing solutions companies for small businesses. Users can create reports to show month-to-month or year-to-year comparisons to easily identify cash flow trends.
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. 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. With Wave’s web-based invoicing software, you can create and send invoices for your business in just a few clicks from your computer. If you’re on-the-go, you can also send invoices from your phone or other mobile device using the Wave app.
Wave’s invoicing software for small businesses removes the worry of making these errors because calculations are done for you, including the taxes. With a Pro Plan subscription, you can connect your bank account with Wave and automatically import your transactions. When everything is neatly where it belongs, tax time is simple. Wave’s smart dashboard organizes your income, expenses, payments, and invoices. Unlike a majority of its competitors, Wave does not have a comprehensive mobile app.