Below that, we have business settings that you can explore. Since each business has a unique structure, system, and process, it’s wise to hire an accounting professional for the appropriate guidance. While using Wave, we recommend seeking the help of an account or a bookkeeper to get the most out of this free accounting software. Moreover, the Wave Accounting software allows you to manage all your financials and reports under ‘Reports’. It also enables you to file your taxes directly from Wave under ‘Tax Filing’.

If you navigate past ‘Estimates’, you will find ‘Invoices’. This is where you can create, manage, and send all your invoices. On the left-hand side menu, under ‘Sales’, select ‘Estimates’. This is where you can manage and create your estimates. An estimate is a straight line depreciation calculator quote that you send to a customer.

Here’s why you need to invest in accounting software. Moreover, you can integrate QuickBooks with hundreds of third-party tools available in the app marketplace. There are also add-on Intuit services like QuickBooks Payroll or QuickBooks Time.

1. To get started with the Wave Accounting software for free, add your email ID and password.
2. This is, of course, a paid service if you ever believe this is something you would like to use.
3. Any connections between you, your bank accounts, and Wave are protected by 256-bit SSL encryption.
4. Unlike competitors, Wave doesn’t offer many advanced features to increase the software’s functionality.
5. It also complies with accounting standards and uses double-entry accounting, which can help ensure accuracy.

Free plan available

With a Pro Plan subscription, you can connect your bank account with Wave and automatically import your transactions. Have an eye on the big picture so you can make better business decisions. Our robust small business accounting balancing a checkbook reports are easy to use and show month-to-month or year-to-year comparisons so you can easily identify cash flow trends. Wave Accounting is all-in-one accounting software that doesn’t cost you a cent. While Wave has a lot to offer when it comes to invoicing, know that it’s still slightly less automated than some competitors.

Unlimited bank and credit card connections

When you set up payment, you need to see the transactions happening within Wave. We currently have no bank account connected so you won’t see anything here. This is similar to how you create invoices on Wave Accounting. Here, you can create and manage bills for your suppliers. Outside of bank transfer, you will be able to accept payments from American Express, Visa, Master Card, Discover, and other providers via Wave.

Strong invoicing feature competes with that of paid products; app lets users send invoices on the go; offers significantly fewer reports than competitors; no inventory tracking. The Wave accounting dashboard is where you can manage all your financial data from multiple sources. It incorporates visuals for tracking cash flow, profit and loss, payable and owing, net income, and expenses.

Wave Invoicing

You can select ‘Watch video’ provided by Wave to understand the reconciliation process. Because this is a fresh account, we don’t have any transactions as of now. We also have ‘Vendors’ under purchases where you can add and manage your vendors and suppliers. It’s a simple step-by-step process that Waveguides you through (We will also cover this again further down the page). On your Wave Accounting dashboard, you can see the snapshot of your account. You also have the option to sign-up with Google if you like.

Pricing and features

You can also download an app on mobile to get more out of Wave while out of the office. In this section, you can find your bank and follow a step-by-step process to integrate it with Wave. This is, of course, a paid service if you ever believe this is something you would like to use.

You can also select ‘Last 24 Months’ and view an entire report. Once you’ve entered the relevant details, dividends account click ‘Continue to accounting’. You have now arrived at your Wave Accounting dashboard. We recommend Xero for our Australian and New Zealand clients but there are many other tools that you can play around with depending on the country you’re in. The details include your first and last name, your business name, business country, etc.