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
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Pros:I have had a wonderful experience with Wave. Accounting by Wave totally saved a big client project for me.
Cons:I haven't found anything negative yet.
Pros:High level of integration. It is totally worth your investment.
Cons:An update would be nice but I absolutely love it.
Pros:Wave is extremely user friendly. It is the easier invoicing Software. I love it.
Cons:Nothing honestly. It is a great software.
Pros:The Invoicing system is my absolute favorite. It is so easy to understand and manage.
Cons:I would have liked to be able to schedule the payments by specific date rather than generically as day, week, month, etc.
Pros:The features are great and can be extremely useful.
Cons:The software lags a little which stops us from using the features fully.
Pros:This software has made the thing that I hate the most so simple for me which is bookkeeping. I love it. I would highly recommend it.
Cons:I have a tough time figuring out how to use two different currencies and still maintain consistency.
Pros:Good software. Very easy to navigate and manage.
Cons:It lacks some features but overall, pretty good.
Pros:This makes my accounting SO EASY! Not only am able to easily keep track of my expenses and costs associated with my business.
Cons:This is a difficult one as I really don't dislike anything.
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