Plus, you can calculate sales tax automatically, customize payment terms and enjoy access to easy-to-understand cash flow insights. It also features a well-laid-out, clutter-free dashboard with individual tabs for sales, purchases, accounting, banking, payroll and reports. Electronic invoices are created with online invoicing software or other cloud-based services, which makes it easy to automate the invoicing process. Electronic invoices also provide small business owners with professional-looking digital invoices that their customers can pay easily online code of federal regulations through a system like Wave’s online payments.

User Experience

Get paid in as fast as 1-2 business days1, enhance your brand, and look more professional when you enable payments. Customers can click a Pay Now button on invoices and pay instantly by credit card, secure bank payment (ACH/EFT), or Apple Pay. You can accept credit cards and bank payments for as little as 1%2 per transaction. Its multicurrency support, revamped mobile apps, and user permissions features are additional points in its favor.

How Wave Accounting Stacks Up

1. While its limitations do not make it an ideal solution for every business, Wave is a particularly appealing option for freelancers who are just starting out.
2. You can also receive unlimited income and expense tracking data, instant updates for invoicing, payroll and payments data and profit/loss reports.
3. A common issue when invoicing in Microsoft Word, Excel, or other DIY solutions is making calculation errors.
4. It helps automate account reconciliation so you can square away your balance in Wave with your bank and credit card statements.

Also, Wave Accounting only offers self-serve customer support. If you have a question or issue, you can browse the help center or reach out to Mave, the automated chatbot. If you do want live support, you’ll need to invest in an Advisor or paid service. Xero Early is a dollar cheaper (starting at $15 per month), but it places a limit on invoices.

Can I share Wave Accounting with accountants?

For more information, see the developer’s privacy policy. With this release, we’re waving bye to bugs and hello to stability improvements. Thanks for using Wave to help you stay more in control of your business while on-the-go. Ready to invoice in style, bookkeep less, and get paid fast? “It’s not just a cool piece of software, it is giving peace of mind to people.” You deserve to know your taxes aren’t something you have to sweat over the entire calendar year.” You’ll always know who you need to communicate with and about what, so you can leave a great impression with customers.

All your transactions appear here, and you can even add new ones. I didn’t run into any image or text degradation issues like I did the last time I tested the app, either. The landing pages for invoices and estimates provide useful, detailed overviews of your activity, along with the status of your sales forms. Customer statements are simple—a choice of outstanding invoices or account activity one at a time. New features here include attachments, automated payment reminders, and customizable templates for customer messages.

It can help you manage your bookkeeping, accounting and invoicing processes through a few internal integrations. 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.

Like most types of software, the best invoicing software programs offer many levels of security. 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 what should you make a mistaken money transfer invoices with the click of a few buttons.

Patriot Software Accounting

If you’re on-the-go, you can also send invoices from your phone or other mobile device using the Wave app. Set up recurring invoices and automatic credit card payments for your repeat customers and stop chasing payments. 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. If you’re a freelancer in terms of liquidity inventory is or other solo service provider, Wave is a better option. Approval to use online payments is subject to eligibility criteria, including identity verification and credit review. 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.