Wave accounting platform software offers a seamless solution for managing finances with its intuitive design and practical aspects. Useful features such as professional invoicing, mobile receipts and payroll make it worth the learning curve. It is a good choice overall, to simplify accounting tasks and drive success.

Wave Accounting Platform Specifications

Financial Reporting

Invoice Management

Expense Tracking

Tax Management

View All Specifications

What is Wave Accounting Platform?

Overview

Wave is a free web-based accounting platform geared towards small and growing businesses, consultants, entrepreneurs, and freelancers. The solution offers a range of integrated applications that combine accounting, invoicing, payment tracking, payroll management, finance management, and receipt scanning in a streamlined, unified system. Wave offers a user-friendly interface to untrained users. It comes with an easy-to-navigate and comprehensive dashboard.

The software simplifies accounting and invoicing processes, reducing the loss of time on manually monitoring expenses, following payments, and managing employees and taxes. Businesses can gain access to real-time transaction records by linking their bank accounts, PayPal accounts, and other data sources. Some other useful features include invoicing templates, tracking capabilities, balance sheets, sales tax reports, and account receivable and payable reports.

The payroll module is only available in the U.S. and Canada, it offers features such as direct deposit and employee self-service. The software’s personal finance tool includes a budgeting tool, real-time investment tracking, and a comprehensive dashboard for personal finance management.

Pricing: Wave's accounting features are absolutely free, while the payroll module costs $20/month.

USP: Abides by all the up-to-date taxation and deduction regulations. The software offers yearly account reports for businesses to review progress and detailed spending trends.

Support: Support is extended via email and phone.

Product Advantages: Free of cost and packed with a number of amazing features.

Product Limitations: Good concept, needs improvement in various aspects. It cannot perform complex accounting functions. No keyword search function in the Transactions section making it hard to find a specific transaction.

Wave Accounting Platform Reviews

Overall Rating

4.5

74 Reviews

Rating Distribution

5

star

(46)

4

star

(20)

3

star

(6)

2

star

1

star

(2)

June 2024

Good Accounting Tool

Miguel

Marketing and Advertising

Ease of use

10

Value for money

10

Customer Support

9

Functionality

10

Pros

We've been using Wave for some time, and it's an excellent accounting tool. The value for the price is impressive.

Cons

I can't think of anything I dislike about Wave.

June 2024

Quick and Efficient Invoicing

Juliana

Entertainment

Ease of use

10

Value for money

10

Customer Support

10

Functionality

9

Pros

Wave is an incredibly efficient app and website that has simplified my invoicing for my freelance work.

Cons

Wave offers many advanced features that aren't necessary for my needs, but I can see how beneficial they would be for larger, more complex businesses.

June 2024

Get Paid with Wave

Anonymous

Not specified

Ease of use

8

Value for money

9

Customer Support

8

Functionality

9

Pros

Wave enables you to effortlessly send invoices and monitor payments.

Cons

Setting up the money collection feature requires some effort�it's not very intuitive.

June 2024

Free accounting software w lots of add ons

Brittany

Photography

Ease of use

9

Value for money

9

Customer Support

7

Functionality

9

Pros

Creating invoices, sending them to customers, and receiving online credit card payments is very simple.

Cons

This used to be a very comprehensive free platform, but now they've started charging for some of the best features, like capturing and coding receipts. It used to be free, but now there's a fee for it.

June 2024

Compact invoicing software

Soma

Arts and Crafts

Ease of use

10

Value for money

7

Customer Support

8

Functionality

10

Pros

I like the ease of use and functions that meet my business needs. It allows for branding and customization of invoices. I love being able to clone invoices, saving time for repeat services to the same clients (such as in my art coaching).

Cons

I'm disappointed that Wave removed Wave Receipts for non-US clients. This feature was crucial for documenting physical receipts on the go and integrating them into the online Wave system. Now there's no alternative for integrating hard copies of receipts into the Wave system.

June 2024

Great Wave

Princess

Banking

Ease of use

7

Value for money

10

Customer Support

10

Functionality

10

Pros

The app was simple to use, with minimal technicalities. Payments were always quick and smooth, just perfect.

Cons

There's really nothing to dislike; the system is amazing.

May 2024

Great product, but no longer automatic

Anonymous

Not specified

Ease of use

8

Value for money

8

Customer Support

6

Functionality

8

Pros

I really enjoy how easy it is to review monthly expenses and income.

Cons

Wave now requires users on the free plan to input data themselves; it's no longer automated. This takes more time, so I'm unsure if the product will be worth using in the future.

May 2024

Easy Invoicing

Emily

Real Estate

Ease of use

10

Value for money

10

Customer Support

9

Functionality

10

Pros

I discovered Wave while searching for a platform to invoice my freelance clients. I needed something easy to use, that kept records for tax time, and was customizable without excessive fees. I don't use Wave to its full potential, but it works great for me!

Cons

Absolutely nothing. Wave has worked exactly as I needed it to!

May 2024

Wave is an excellent product!

Carl

Sports

Ease of use

10

Value for money

10

Customer Support

10

Functionality

10

Pros

It's easy to understand and use. I feel both comfortable and confident when using Wave.

Cons

I've been notified that the fee will increase soon. I just hope it doesn't become too expensive.

May 2024

Our business runs on Wave

Kevin

Marketing and Advertising

Ease of use

6

Value for money

8

Customer Support

5

Functionality

6

Pros

Most features are free to use. Invoices look professional and branded.

Cons

There's a lack of support on the free tier, and it's confusing to set up for non-accountants.