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Overview
Wave offers 100% free, real double-entry accounting for small businesses. As a cloud-based software, Wave allows you to access your data from anywhere, add unlimited collaborators and work on all of your businesses from a single login. Wave eliminates data-entry and puts the financial reports you need at your fingers tips. Your accounting is also seamlessly integrated with invoicing, receipt scanning, payment processing and payroll.
Best for
Micro business owners (1-9 employees), freelancers and solo entrepreneurs.
Features
Unlimited income and expense tracking
Track sales tax on income and expenses
Generate financial statements for year-end
Powerful reports on Overdue Invoices & Bills, Cash Flow, Profit & Loss and more
Unlimited bank and credit card connections
Easily organize income and expenses into tax categories
Run multiple businesses in one account
Instantly see how your business is performing on your dashboard
100% web-based
Additional Features & Apps
Payroll services in Canada and the U.S.
Allow businesses to accept payments online and have invoices paid faster; charge a 2.9% + 30¢ fee to process most credit cards (with 3.4% + 30¢ fee for American Express), and 1% for bank payments (where available)
Pricing
Free
Discounts
N/A
Pros
No transaction or billing limits
Add unlimited number of partners, collaborators or accountants
Run multiple businesses under one account
Mobile app available
Cons
Limited third-party app integrations
Higher fees for credit cards and ACH payments
Full-service payroll is limited to only 14 US states
No inventory management
Unintuitive reporting features
Inability to connect other systems like PayPal or Stripe