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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Wave Accounting pricing overview

Wave Accounting has a free version and offers a free trial.


Starting Price

Not provided by vendor

Pricing Details

Accounting & Invoicing - Free Receipt Management - Free Credit card processing - $0.30 + 2.9% per transaction Bank payment/ACH processing - 1% per transaction ($1 minimum fee) Payroll (tax service states): $35/month base fee + $4/active employee + $4/independent contractor paid Payroll (self service states): $20/month base fee + $4/active employee + $4/independent contractor paid

Free Version

Yes

Free Trial

Yes

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

View full list of Billing and Invoicing Software

  • 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

  • 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 Management 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 - Capterra New Zealand 2021

More Wave Accounting alternatives

Wave Accounting Reviews

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

Review software

Share your experiences with other software buyers.

Write a Review!
Proinsias M.
Owner Manager Digital Specialist
Online Media, Self Employed
Used the Software for: 2+ years
  • Overall Rating
    5 /5
  • Ease of Use
    4 /5
  • Features & Functionality
    4 /5
  • Customer Support
    4 /5
  • Value for Money
    5 /5
  • Likelihood to Recommend
    10/10
  • Reviewer Source 
  • Reviewed on 3/03/2021

"Wave Accounting is great for a Startup Business"

Comments: I was very happy with the invoicing, payments, and the Design and functionality. I was able to search past transactions very easily. I did not pay for premium support, but the support that I recieve is excellent.

Pros: It was free to use the accounting services
I was able to invoice customers using Stripe as a Payment Gateway which was great value
The Design and User Interface is very professional compared to others that I have seen
The Payment Gateway was also very professional when sent to customers, it added to the credibility of the business

Cons: My particular Bank would not allow me to sync my account with Wave, but that was a local issue not a general issue.
I was very very happy with the invoicing. but I always felt that the ledger views were not as robust.

  • Reviewer Source 
  • Reviewed on 3/03/2021
James K.
Research Manager
Research, Self Employed
Used the Software for: 2+ years
  • Overall Rating
    5 /5
  • Ease of Use
    5 /5
  • Features & Functionality
    5 /5
  • Customer Support
    4 /5
  • Value for Money
    5 /5
  • Likelihood to Recommend
    10/10
  • Reviewer Source 
  • Reviewed on 1/03/2021

"Best FREE Accounting and Invoicing App for Small businesses/Freelancers"

Comments: WAVE is the best inexpensive mobile and cloud accounting software out there. I doubt if there is any accounting and invoicing software that can provide all of WAVE's features for free!

Pros: I use Wave Mobile App for my business' finance, for managing my income and expenses. I use wave for billing and creating invoices for my clients. After using Wave for over 2 years now, I can say it works quite well. It allows me to create client contacts, which the app automatically uses to create client record books. The interface is simple and easy to get along with. The fingerprint unlock integration is one of my best features because I am able to sign in to the app without trying hard to remember passwords or pins. Above all, I think the best thing about Wave is, you get most of the relevant features needed for FREE!

Cons: There are few hitches I encounter using wave. I am not able to write off a partly paid bill as bad debt if all attempts to reclaim the payment from my clients fail. Sometimes, people pay about 70% and fail to pay for the rest. In order to close the invoice, I will have to mark it as completely paid and doing that can overstate or affect my financial records and reports within Wave.

  • Reviewer Source 
  • Reviewed on 1/03/2021
Nate M.
Used the Software for: 1-5 months
  • Overall Rating
    1 /5
  • Ease of Use
    1 /5
  • Features & Functionality
    Unrated
  • Customer Support
    1 /5
  • Value for Money
    1 /5
  • Likelihood to Recommend
    Unrated
  • Reviewer Source 
  • Source: GetApp
  • Reviewed on 14/02/2016

"Be aware!"

Comments: Be aware! Let’s get straight to it. No polishing, no lies. Wave’s actual system is pretty good. If it “actually” worked…
One sad truth about this company that you’ll notice right away is that their servers or hosting is worse than blogs were in 1980. It is slow, freezes and crashes all the time. Way too annoying to work with on a daily basis for a professional company. Bottom line: the system is unreliable.
Moving along to the stuff that matters even more… Customer service, honesty and professionalism. Uum, try again. You will not find any of that in this company. They clearly have no clue what it means to run a professional service. Last week I processed two transactions. Both of them were more than 2 grand.
Keep in mind that i’m a new startup that needs my money right away, or at least when promised.
2 days go by and no money. Okay…. here we go again. I email Wave asking what’s the deal with the money.
I say “again” because I had the same thing with my first few small transactions. But then I thought it was only because I was a new customer so they had to confirm some details. (by details I mean force me to show them communications between me and my clients).
That same day I get an email from the department that deals with the money saying in fancy words that they are withholding my money for security reasons until they can confirm some details. Again they ask for communications and authorizations. (who do they think they are?) I respond within 2 minutes with snapshots of communications and conversations straight from my client explaining who he is and that he authorized the payment. a day or two goes by and nothing. You can imagine how angry I feel about now. Projects are on hold, business stops, Wave is running me into the ground…. Of course there is no one to talk to until you sign up for the live chat at ($9 a month). So I sign up, because I cannot wait. Open a chat, explain to the woman really respectfully what is going on, she looks it up for 10 minutes and responds by saying that she sees my ticket (email) and that she will escalate it to the top… blah blah blah. So there I learn that live chat is basically if you have a question regarding the functions of the site, but it is basically useless regarding the things that really matter. MY MONEY!
In short, you CANNOT contact anyone about it, you can only email. But emails, despite their promises may take 3 days get answered.
So I send another email asking what’s going on and get a response that since I submitted 2 emails my ticket was moved back down to the bottom. (That wad their way of apologizing or exusing themselves). In that same email they don’t tell me that my snapshot isn’t sufficient or anything like that (even though it worked for the first 3 transactions), they tell me that they need to speak to my clients to confirm payments…. Really? …. wow, okay I respond within 2 minutes with two phone numbers. (this is Friday after 5pm) One of my clients get’s a phone call, confirms payment and they tell him that the money will be released “right away”. The second client get’s a phone call, but misses it. (He is still waiting for another phone call). And of course you cannot call them back, because they use fake phone numbers using local area codes. Well, guess what? The money from the first client that got the phone call from them was not released… and it’s Tuesday already. (almost a week from when I processed the transaction). Never heard anything back from them in past 3 days!! Conclusion: (aside from me being so frustrated, hardly able to contain myself) Well, firstly I would like to say that I switched to Quickbooks online right away. They are a professional company with lower rates and faster deposit times (ONE DAY!). And you can call them! The only reason I chose Wave over Square is because they had a good invoicing system. But i’ve used Square before and never had issues like this. What I mean is this: Why make an issue when there is none????
Wave makes security issues when there is none.
I’m a legal, professional company in the United States. Why in the world would you pretend like there are security issues with my transactions if no one ever disputed or complained? There is no answer. Because if there was a valid answer, Square and Quickbooks would be the same concerned.
Stop making issues where there are none.
I would advise anyone reading this to go with Square or Quickbooks. You will end up being much happier. Unless you can afford these criminals withholding your money for as long as they like. So again: system: too slow, crashes and freezes. OH, and annoying advertisements.
Support: only for functionality questions.
Service: absolutely horrible and un professional.
You choose. Thanks!

  • Reviewer Source 
  • Source: GetApp
  • Reviewed on 14/02/2016
Cheikh B.
Wave review
Computer Software, Self Employed
Used the Software for: 6-12 months
  • Overall Rating
    5 /5
  • Ease of Use
    5 /5
  • Features & Functionality
    5 /5
  • Customer Support
    4 /5
  • Value for Money
    5 /5
  • Likelihood to Recommend
    10/10
  • Reviewer Source 
  • Reviewed on 12/01/2021

"Good accounting software"

Comments: The speed with which the credit cards were processed automatically saved me a lot of time.

Pros: This is a very complete software that allows you to build quotes and convert them into invoices in a fraction of a second without much effort. Wave is excellent especially when it comes to credit card processing which is done automatically with a very low 1% fee. It is very easy to set up and use and the cost is low or even free. Personally, I recommend buying this package because it comes with support: from setting up your account to the specific categories for your company . The other advantage of Wave is the presence of a number of applications to send invoices when you are away from your workplace. So even when you're away from home you can download them. In this case, all you have to do is take the photo on the spot.

Cons: The problem on the Wave software is not so numerous, but we notice that it is impossible to close a period correctly. All members who are able to make transactions have the possibility to change or add entries from the previous year. For me an administrator must have the ability to close a period so that no changes are made. User growth is also very limited. The lack of audit trails for transaction entries is also a case of imperfection at Wave . Admittedly, it is possible to generate transactions, then generate reports, then cancel the transactions, etc. But there is no proof that these changes are made yes or no, because the software is unable to remember its categorizations. The keyword search function is absent from Wave in the transactions section and sometimes it makes us lose a lot of time.

  • Reviewer Source 
  • Reviewed on 12/01/2021
James R.
Owner
Professional Training & Coaching, Self Employed
Used the Software for: 2+ years
  • Overall Rating
    5 /5
  • Ease of Use
    5 /5
  • Features & Functionality
    5 /5
  • Customer Support
    5 /5
  • Value for Money
    5 /5
  • Likelihood to Recommend
    10/10
  • Reviewer Source 
  • Reviewed on 6/04/2021

"My go-to invoicing and accounting tool for my small business!"

Comments: Nothing but amazing! I'm so glad I switched from Square for my invoice and payment processing.

Pros: It is so easy to use, and customized specifically for small business owners. I absolutely LOVE the invoice feature - it's the primary feature that I use - and it just works so well. My completed payments rate is 100% and I believe is at least in part due to how easy the process is to view/pay invoices.

Cons: Sometimes I wish the payment speed was faster after a client makes a payment, but then they introduced instant deposits and I'm happy to pay the small fee to get my money faster!

  • Reviewer Source 
  • Reviewed on 6/04/2021