8 WAVE ACCOUNTING

Pros
Offers double-entry accounting with complete reports. Allows you to invite your accountant to view and edit the data from any place at anytime.

Cons
Does not offer inventory management, project management and time management features. Response speed of wave accounting software is low.

The Verdict:8

Easy to use free online accounting software to efficiently track your finances.



Wave accounting is online cloud accounting software developed for entrepreneurs, freelancers, consultants and small businesses with 9 employees or less to manage your accounting, invoices, bills, sales receipts, transactions and reports. The user interface is simple and intuitive. The well designed dashboard allows you the view the snapshot of your business's happenings including income and expenses, payable and owing, net income, business expenses and bank account and credit card transactions in different graphical formats.

Accounting and Enterprise Features

You can create professional invoices, bills, estimates and recurring invoices easily and manage your transactions including income and expense, journal transactions, etc. You can categorize the transactions to appropriate account individually or in batches and reconcile your bank account transactions. You can add your bank account to wave accounting, so that your transactions get updated automatically, or you can upload a downloaded bank statement. Wave accounting offers three templates named contemporary, original and standard for invoice. You can efficiently manage your customer contacts and supplier contacts and record the sales tax you pay on your expenses. You can snap photo of your receipt from your phone and add it to wave, it recognizes the relevant field using OCR, or you can manually record the expense. Wave accounting offers you the options to split and merge the transactions, and manage both of your personal and business accounts.

The pros services option shows you the nearest accountant to get assistance for your queries relating to accounting, book-keeping and tax. You can manage transactions in different currency to improve your business to international trade. You can take statement for unpaid invoices or all the invoices of a particular customer and send those statements to your customers. The reports such as balance sheet, aged payables and receivables, sales tax report, gain/loss on foreign currency exchange, and trial balance, etc. can be easily generated and downloaded in excel, csv or pdf formats. You can also manage any number of your sales tax. You can also get reminders for overdue invoices, overdue payments, etc. through emails. You can view the great deals and products offered from wave accounting to save your money. It provides you options to add multiple users with restricted access.

Remote Access and Additional Business Services

The shoeboxed addon when integrated with wave allows you to get paid faster, track reimbursements and relieve from tedious bookkeeping and accounting tasks. You can also integrate ecommerce website etsy with wave to automatically import sales information from etsy to wave. The paypal addon enables automatic import of paypal sales and purchases. The stripe addon offers the ability for the customers to pay the invoice online.

Pricing

Wave accounting is offered at free amount of cost.

Merits

Wave accounting offers double-entry accounting with complete reports and you can invite your accountant to view and edit the data from any place at anytime. You can import data from wave to quickbooks using third party apps or file converters.

Demerits

Payroll feature is made available in countries such as US and Canada. The payment option for getting paid from your customers through online is available only in US, Canada, UK, Ireland and Australia. It does not offer inventory management, project management and time management features. The response speed of wave accounting software is low. You cannot import and export customer contacts, supplier contacts, bills and invoices in batches and cannot modify your dashboard. No instant chat support from wave accounting and the advertisements in the right side of the window causes disturbance while working in wave accounting. The customer support is available in three versions at some amount of cost.

Summary

Wave accounting is easy to use online accounting software to efficiently track your finances. The data in wave accounting is automatically backed up. You can effectively manage your business and personal finances in single place. It offers ability to manage unlimited customer contacts and supplier contacts, invoices, bills, estimates and receipts at free of cost.

  • Online accounting

  • Invoicing

  • Aged receivables and payables

  • Professional reports

  • Contact management

  • Tax management

  • Multi-currency

  • Investment tracker

  • Wave accounting software, Review 2016
  • Wave accounting software, Review 2016
  • Wave accounting software, Review 2016
  • Wave accounting software, Review 2016
  • Wave accounting software, Review 2016
  • Wave accounting software, Review 2016
  • Wave accounting software, Review 2016
  • Wave accounting software, Review 2016


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