Wave Accounting Software is an online accounting platform that is tailor-made for small business owners, freelancers, and consultants. It provides features such as unlimited invoicing, unlimited estimates, contact management, expense tracking, accounts payable, basic inventory and reports of accounting, billing, payroll management, finance management, credit card processing, receipt scanning, and many more.
With Wave Accounting software’s bank reconciliation tools, the systematic process improves bookkeeping efficiency and accuracy. This software helps businesses streamline bookkeeping processes as well. Businesses can also generate reports that include various data such as sales tax, balance sheet, cash flow, profit/loss, invoices, payment slips, supplier bills.
The dashboard includes an elaborate invoicing tool that effectively collects all the invoice payments. It gives users a feature of customization. It means small business owners can opt for customizable invoicing templates based on their unique business needs. Tips to help you use financial metrics and analysis to better understand your business’s performance and influence its growth.
Wave allows inviting your personal accountant to view your accounting without having to give them your login info. It also grants access to collaborators who have view-only access or view and edit access. With this, they can create and send invoices, manage transactions, and generate reports. It also has an integrated mobile accounting app, email subscription management software, with an accounting method based on accrual or cash-on-basis. This accounting software supports integration with multiple companies such that a direct Etsy integration makes Wave an ideal accounting software for Etsy sellers. It has a redesigned UI that is well organized and user friendly with an easier navigation model.
Features to use in Wave Accounting Software
This portal is simply for creating invoices so that the customers can view their invoices and pay them directly online.
Tracking your expenses is now easier through automated bulk transaction categorization, transaction matching, and the ability to merge duplicate transactions. This way, you can connect directly to your respective bank account, import bank statements, or manually add expenses.
It also offers the customers a recently improved bank reconciliation feature to facilitate them to balance the books. Added to that, it allows you to enter bills and record billing payments with different charts of accounts. Wave offers a customizable chart of accounts that is organized to make accounting as simple as possible for business owners with the provision of fixed asset management.
This is Wave’s most prominent inventory feature, which has a glorified item list. The customer can choose to add an item name, a description, and the sales price. They can also mark which one to buy and which one to sell by adding the prices manually as well.
The free pricing makes Wave Accounting System highly popular, as it is fully featured at a free price with no compromise in its performance. It is intuitive to use and easier to set up by creating the account on the first page of the dashboard.