Wave Accounting Review: Features & Pricing in 2023

wave bookkeeping review

After working as an accountant for many years in various industries, including healthcare and property management, she returned to her first love, writing. She specialized in accounting and business articles, with an emphasis on software reviews, which she wrote for more than 20 years. She continues to write for the first publication she ever wrote for, CPA Practice https://personal-accounting.org/ Advisor, while blogging for several software companies. Wave offers double-entry bookkeeping and accounting, and includes excellent invoicing and online payment acceptance. You might find the estimate feature helpful, but we recommend you check out our list of the best contractor accounting software for more comprehensive project accounting features.

  • This option is great for business owners who are new to accounting or want to outsource bookkeeping and/or tax filing.
  • A list of recent and upcoming payments appears, and a link in the upper right corner says Pay Out Now.
  • Don’t be cheap, use a paid well known platform with good reviews.
  • The company generates revenue from its credit card processing, Wave Payroll, and bookkeeping services and uses this revenue to keep the software completely free.
  • You can, however, have customers pay via PayPal, but not through Wave.

It is annoying, we admit, but if this is the price of using the software for free, we would take it. Even though you can sign in to your account and use every single feature you have, accounting with Wave on your mobile device is anything but fun. If you are forced to use the software anyway, we suggest you to access Wave’s service via tablet, and don’t forget to rotate the device horizontally. On the Transactions page you can only see your unverified transactions as default. These are the transactions that are waiting to be added to your incomes/expenses and unfortunately, you have to do this verification process manually.

Scoring and Rating

Missing features are check creation and printing, time tracking, projects, 1099s and profit & loss reports. Also, be prepared that the software is a tad slow even when no other programs are opened. With Wave, you can manage employee payroll with features like tax form generation, time sheets, and more. While this section comes at an additional cost, it’s probably worth the investment to have all company functions recorded within one software tool.

Before joining FSB, Eric has worked as a freelance content writer with various digital marketing agencies in Australia, the United States, and the Philippines. Where Wave falls behind, however, is its customer support.

How Much Does Wave Cost?

There are more, specialized fields if you designate a vendor as a 1099 contractor, however. You can also set up Wave by visiting the website’s toolbar and Settings menu, but you’re less likely to miss something important if you use the dedicated setup feature. The Settings menu is always available, so you can add and edit information here as you go along. By browsing Wave’s settings before you begin, however, you can learn more about the site’s capabilities, especially if you didn’t go through the whole setup process. Support for non-paying users is limited to the chatbot and self-service Help Center. All ratings, reviews, guides, custom articles, and custom photos on Revuezzle are copyrighted.

wave bookkeeping review

For Wave customers using the free version, support is only available through a self-serve option in the Help Center and by using Mave, the Wave Accounting chatbot. Users can compare month-to-month and year-to-year small business accounting reports in Wave to easily identify trends in cash flow and rectify discrepancies as needed. God knows where my personal information is going to end up.

Wave Invoicing

There are several actions that could trigger this block including submitting a certain word or phrase, a SQL command or malformed data. Record templates for customers and vendors only contain fields for basic details wave bookkeeping review about each in Wave. You can import customer and vendor data via CSV files or as Google Contacts. It doesn’t take long, since customer and vendor records only contain fields for extended contact information.

  • We hope this case study provides you with insightful information and analysis to help you decide whether Wave is the best fit.
  • Monthly payroll fees are different for tax service states and self-service tax states.
  • One of Wave’s most popular invoicing features is the ability to create user-friendly customizable templates.
  • To recap, Wave can manage invoicing, track expenses, and do bookkeeping.
  • In addition to its help center, Wave also has a community forum where you can ask questions to fellow users.
  • We recently reviewed Wave’s plan information to ensure our current review was still up to date.

Wave is designed specifically for small business owners to use, no matter what kind of bookkeeping background they come from. The software supports multiple companies and offers personal accounting as well. The checkout feature is one-of-a-kind and a great addition for business owners who need to charge multiple customers quickly.