And even better, get rid of late payments with Wave's Pro Plan features like automated reminders and recurring invoices. This free, easy-to-use accounting software is great for small businesses, especially for eCommerce, but lacks in project management, budgeting, and inventory tracking. The company also offers good customer support options, including an accounting guide, to help you learn to balance the books and use the software.

Email exported financial statements and reports to your accountant directly from Wave. Or even better, with our Pro Plan, safely hand off your books to your accountant by adding them as a limited user. Since Wave uses accountant-approved, real double entry accounting, your accountant will have all the information they need.

Create beautiful invoices, accept online payments, and make accounting easy—all in one place. Our unbiased reviews and content are supported in part by affiliate partnerships, and we adhere to strict guidelines to preserve editorial integrity. The editorial content on this page is not provided by any of the companies mentioned and has not been reviewed, approved or otherwise endorsed by any of these entities.

1. Still, Wave’s free plan offers a good set of features and could be suitable for sole proprietors or smaller businesses with basic accounting needs.
2. Learn more about changing subscription periods and plan types, and how to cancel your Pro subscription in our Help Centre.
3. Next, you can add sales tax (if necessary), create customer profiles and customize your invoice templates.
4. When rating accounting and invoicing software, we use a 47-point rubric that looks at pricing, ease of use, features, customer service, and user reviews.
5. Can manage multiple businesses for free under one account; lacks project tracking tools, industry-specific reports and transaction tracking tags.

Wave Accounting Review 2024: Pros, Cons, Alternatives

Automate the most tedious parts of bookkeeping and get more time for what you love. NerdWallet does not receive compensation for any reviews.

Accountant-friendly software

Only integrates with in-house apps, like Wave Payments and Wave Payroll; does not integrate with card readers for in-person payments. Many, or all, of the products featured on this page are from our advertising partners who compensate us when you take certain actions on our website or click to take an action on their website. Here is a list of our partners and here's how we make money. The vendors that appear on this list were chosen by subject matter experts on the basis of product quality, wide usage and availability, and positive reputation. Let us know how well the content on this page solved your problem today.

Simple accounting software for self-employed pros

While the free plan still exists, a paid plan is now available. Xero lets you add unlimited users in all plan tiers and, 5 strategies to turn your vacation into a tax deduction similar to QuickBooks Online, can grow alongside your business. When you reconcile your books, you’ll navigate to the “Reconciliation” tab within the Accounting menu.

It’s hard to beat free accounting software, especially if you’re running a small business on a budget. Wave’s free plan offers a decent number of features, like unlimited invoices, that are not always included with other free accounting software options, let alone paid accounting software plans. It also complies with accounting standards and uses double-entry accounting, which can difference between depreciation and amortization with comparison chart help ensure accuracy.

Servers are housed under physical and electronic protection. Wave is PCI Level-1 certified for handling credit card and bank account information. Check out our comparisons among these top three accounting software options to find the right fit for your business. Wave offers a decent number of support resources to customers, but the response times can be slow. Furthermore, customers using the free Starter plan will have limited support options.

On your mark, get set… go!

For a free software program, Wave boasts an impressive, robust feature set that rivals even some paid accounting software programs. Visit bookkeeping for llc your dashboard or use your invoicing or accounting features, and click the peach “Upgrade now” button. Learn more about changing subscription periods and plan types, and how to cancel your Pro subscription in our Help Centre. Similar to other reputable cloud-based accounting software products, Wave encrypts the data you share with it and monitors its server facilities 24/7. Can manage multiple businesses for free under one account; lacks project tracking tools, industry-specific reports and transaction tracking tags. Have an eye on the big picture so you can make better business decisions.