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.