Wave Updates

Wave mention · January 25, 2019

The Best Accounting Software in 2019

Accounting is a taboo word in some offices. And it makes sense why: We think of financial management as a complex beast. But as the days of paper ledgers and clunky spreadsheets fade away, things are changing. Accounting software simplifies the whole process. It often links directly to your business...read more
Wave mention · January 11, 2019

The Best Free Invoice Software for 2019

You've finished the work, and it's time to get paid. Now you need to create an invoice, send it, and give your customer options for how to pay. And while you could draft an invoice in your favorite word processor, print it off, send it via snail mail...read more
Wave mention · January 3, 2019

The Best Accounting Software for Freelancers in 2019

When you envisioned what it would be like to work as a freelancer, you probably imagined days spent writing, coding, designing, or doing something else that you love. You certainly didn't daydream about scanning receipts, logging expenses, sending invoices, and filing your taxes. But those tasks are an inevitable...read more
Wave mention · January 1, 2019

The Best Invoicing Software: 19 Apps to Get Paid for Your Work

You've already found clients, put in the hours, and completed the work. Now it's time to get paid. Invoicing should be the easiest part of your process, but creating and sending an invoice can be a time suck—and one you're not getting paid for. Invoicing software...read more
Wave mention · December 12, 2017

The Zapier Guide to Line Items

e pluribus unum. The timeworn phrase that graces most US banknotes—Latin for "Out of many, one"—was intended to represent the United States being one nation of many states, could easily have a double meaning. After all, so often when you open your wallet to pay a receipt or...read more
Wave update · November 27, 2017

New for Our Wave Integration: Create New Invoices from Your Other Apps

The easier it is to create and send invoices to your clients, the faster you can get paid. This update to the Wave + Zapier integration simplifies invoice creation so you can automatically create invoices from any of the other apps in your stack. For example, every time new deals are...read more
Wave update · March 10, 2016

Manage Your Small Business Accounting Needs With Wave

Every day, small business owners have many things to juggle. Accounting is a big piece of that puzzle, something that is essential to any business, no matter how small. Are you a one woman shop? You still need accounting help. If you're a small business owner and need to...read more
Matthew Guay
Written by Matthew GuayLast updated September 25, 2018

You need an accounting app—something to make sense of your finances and ensure your bank account isn't at risk of going dry. It's far from the most fun task of your life, listing your expenses and cross-checking ever cent that comes in. But it's the thing that keeps your business going.

And with Wave, you can do it for free, keeping all of your financial data in one app without having to worry about copying in transactions and payments from anywhere else. It's even faster than most other apps, with bank payments often processed in 2 business days and most parts of the app loading far faster in the latest design.

Wave's a unique tool. Unlike most accounting apps where you'll buy the software or pay per month, Wave does almost everything for free. Accounting, invoicing, receipt scanning—all free. It pays for that with a few add-on services. Depending on where your business is based, Wave includes a payment processing service with leading rates, a lending tool to get business loans right inside your accounting app, and a payroll app that can automatically deposit your team's paychecks into their bank accounts for a monthly fee for both full-time and contract employees. If you need it all, those extra services are a great way to keep every financial part of your work together. Otherwise you can use Wave's free apps as much as you need.

The core accounting tools work great together. Connect Wave to your bank and credit accounts—and Wave works with most, with popular bank listings for a variety of countries we checked—and it can import your transactions automatically. Then, whenever your team spends money, have them scan the receipts with Wave's mobile app or email the receipt to Wave. It'll recognize as much of the text as possible—pulling in dates and prices most reliably in our test—and uses machine learning to tag the transaction type automatically. And it works with multiple currencies, automatically converting the sale price to your core currency to easily manage, say, foreign travel expenses.

Wave can watch your bank, PayPal, and Etsy accounts for income to keep tabs on your revenue. Or, if your business typically invoices customers for your work and products, Wave includes tools for that too. Start out with a quote of your service prices, then build an invoice when the work is done. You can customize the basics of the invoice design, and accept payments however you want—including using Wave's built-in payment processing. Wave will remind customers to pay you—or let you regularly charge their card automatically for your repeat customers. Once they've paid, you'll be able to track of those payments in your accounting tab along with the rest of your financial data.

With that much data in one place, Wave's reports help you keep tabs on your financials. You can see everything from your total paid sales tax to the gain or losses you maid on foreign currency transactions—pulled in automatically from your invoice payments and scanned receipts. And, you can take your data with you, with CSV and PDF exports available in Wave's reports and most of its core data pages.

By the time you've calculated all of your team's expenses from receipts, you won't want another bill to add to your outflows. So don't. Wave lets you do accounting for free—and only pay for features that keep your team happy and help you get paid.

Originally published July 4, 2017; updated August 25, 2018 with new pricing, screenshots, and features.

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