Karandeep V
Read our detailed Wave review to learn about its features, benefits, integrations, pricing, and more.
What is Wave?
Wave is a free-to-use finance platform that consolidates invoicing, accounting, and receipt scanning into one single package. Wave Apps is a perfect fit for small organizations (less than 10 employees), solopreneurs, freelancers, startups, and consultants.
The accounting solution is easy to set up and use. Users have access to dashboards that present data in a format that is easy to understand.
Wave ensures that the invoice and accounting processes are streamlined. It enables users to eliminate roadblocks put forward by different financial processes such as tracking expenses, tax management, payments receivable, and more.
Wave also allows users to create and deliver professional-looking invoices, receipts, and estimates within minutes.
Vendor Details
- Company: Wave
- Website: https://www.waveapps.com/
- Founded in 2010
- Country of origin: Canada
Wave Key Metrics
What makes Wave one of the best financial solutions for small businesses is the fact that is free. Wave has no undeclared or hidden charges as well.
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Accounting software
The accounting software designed by Wave is a one-stop solution that connects bank accounts, balance books, and sync expenses. It is extremely safe, secured, and can simplify the management of cash flow.
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Invoicing
The invoicing software is customizable, saves time, and exponentially improves the management of customer information. Users can create and send professional-looking invoices in no time. The software also allows users to build recurring invoices and set up automatic payments for repeat customers.
Payment and invoicing information syncs with Wave’s software for accounts that are registered. This feature also enables users to understand their history with different customers to get an idea of whom to prioritize.
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Receipts
Wave’s Receipts mobile application completely eliminates the need to track expenses manually. Wave’s Receipt is available for both iOS and Android.
One of the benefits of using this feature is that users can scan receipts even when they are not connected to the internet.
Users can scan receipts when they are offline and the app automatically syncs them when the internet connection is restored.
Wave Important Features
- Accounting
- Invoicing
- Payroll
- Receipts
- Annual record keeping
- Direct deposits
- Direct credit card payments
- Integrations
Invoicing features:
- iOS and Android apps to send invoices
- Cash flow insights
- Automatic cloud backup
- Customizable payment terms
- Create and send customizable invoices
- Customer communication management
- Automatic payments for recurring invoices
- Customer transaction history
To view the complete list of invoicing features, visit Wave’s website.
Wave Pricing
- Accounting software: Free
No monthly fee, hidden charges, and set-up fees.
- Invoice software: Free
No monthly fee, hidden charges, and set-up fees.
- Receipt scanning: Free
No monthly fee, hidden charges, and set-up fees.
Wave Pros and Cons
- Wave is free which makes it an ideal solution for freelancers, consultants, and smaller businesses.
- Modern and professional-looking design and user interface.
- Easy to set up and understand the different features.
- Account receivable and payables can be tracked in real-time.
- Reports that are generated offer a comprehensive view of cash flow, net income, payable, owing, profit and loss, etc.
- Invoices can be generated very easily.
- Users have mentioned that an option for clients to add tips to improve service is lacking.
- There are a few syncing and reconciliation-related issues.
- No phone support.
- Receipt application works well on the mobile app. However, few tasks can only be performed on the browser.
- Does not include features such as audit trails for transaction entries.
Wave Integrations
Wave can be integrated with:
- Google Sheets
- MailChimp
- Shoeboxed
- Etsy
- PayPal
- Zapier
- Hubspot
Wave Specifications
Free Trial – Yes
Free version – Yes
Deployment
- Cloud-hosted
Devices supported
- Windows
- iPhone/iPad
- Web-based
- Mac
Training
- In-person
- Webinars
- Documentation
- Live online
- Videos
Typical customers
- Small businesses
- Solopreneurs
- Freelancers
- Consultants
Wave pricing
- Accounting – Free
- Invoicing – Free
- Receipts – Free
Languages supported
- English
Wave support
- Email/help desk
- Knowledge base
- Chat
- FAQs
Wave Alternatives
- FreshBooks
- Payment Rails
- NetSuite ERP
- Sage Intacct
- Quickbooks Online
- Acumatica Cloud
- Odoo
- Accounting Seed
- Plus & Minus
- Striven
- TallyPrime
- ZarMoney
- Multiview ERP
- Deskera Books
