Wave Accounting Review 2025: Pros, Cons, Features

If you’re a small or micro business looking for a free to use accounting and invoicing provider, without limits on users, Wave could be a great solution. Before you commit to accounting software, it’s in your best interest to shop around and compare all your options. Unlike QuickBooks and FreshBooks, Wave Accounting is completely free to use. It can allow you to manage all your accounting processes without paying a dime.

Wave Accounting Review: Pros, Cons

With Wave Invoicing, you’ll be able to track, edit, send and pay invoices from any mobile device. In addition, Wave allows you to manage multiple businesses on one free account and uses double-entry accounting, which is ideal for accountants and tax time. Wave Accounting offers unlimited invoicing capabilities, which provides numerous benefits for businesses.

Wave Accounting Key Features and Considerations

• All tax and payroll data will automatically sync with Wave Accounting, making bookkeeping more efficient.
• For example, if you’re looking for support with payroll processing and tax filing, Wave can provide it.
• Its intuitive interface and user-friendly design make it easy to navigate, even for those who aren’t accounting experts.
• Of course, if you freelance, you don’t need to worry about running payroll either now or in the future.

One of the standout qualities of Wave Accounting is its user-friendly interface. The software is designed with simplicity in mind, making it easy for even those without accounting expertise to navigate and utilize its features effectively. The intuitive layout ensures users can access the necessary tools quickly, saving time wave accounting review and reducing frustration. For small businesses who want access to extra features and are willing to pay for them, Wave can support your needs.

Wave allows you to search transactions, design accounting reports and reconcile data across other Wave products. Plus, you can calculate sales tax automatically, customize payment terms and enjoy access to easy-to-understand cash flow insights. It also features a well-laid-out, clutter-free dashboard with individual tabs for sales, purchases, accounting, banking, payroll and reports. Wave Accounting offers free software, meaning you won’t need to submit a credit card or payment information to use it.

It’s also intuitive so you don’t need to be an accountant to use it successfully. Of course, if you freelance, you don’t need to worry about running payroll either now or in the future. If you’re a small business owner or freelancer looking for a simple and cost-effective accounting solution, Wave Accounting could be the perfect fit. With unlimited users, businesses can ensure everyone can access the necessary tools and information, promoting efficient workflow and effective teamwork. Whether assigning tasks, sharing files, or discussing projects, Wave’s unlimited users feature allows seamless collaboration and enhances productivity. Like Wave, you can add an unlimited number of users on any plan using Xero.

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In addition, it provides self-serve customer support with a knowledge base and tutorials. One major drawback of Wave Accounting is the limited number of integrations it offers. Unlike other accounting software, Wave has a limited selection of integrations with third-party applications and services. Wave Accounting is an excellent choice for small businesses that are on the lookout for user-friendly accounting software.

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• It lacks some of the useful features you may find in other accounting software, such as project management, time tracking and inventory management.
• Once you sign up online, you can start using Wave’s features right away.
• Wave Accounting is an excellent choice for small businesses that are on the lookout for user-friendly accounting software.
• If you want access to extra features such as payroll processing, automated tax filing, payment support and coaching services, Wave can assist you.
• Wave also doesn’t have quite as many integrations as other paid (and more popular) accounting software options.

Should you need to upgrade to a more advanced solution, Wave makes it easy to migrate your data into another system. At Business.org, our research is meant to offer general product and service recommendations. We don’t guarantee that our suggestions will work best for each individual or business, so consider your unique needs when choosing products and services. With plans starting at $15 a month, FreshBooks is well-suited for freelancers, solopreneurs, and small-business owners alike. Contact us if you have more questions about Wave Accounting or want to apply for a small business loan. Our alternative funding experts can help you find the best financing options for your business goals.

Lack of Advanced Invoicing Options and Customization

The Wise Business account is designed with international business in mind, and makes it easy to send, hold, and manage business funds in 40+ currencies. You can also get 9 major currency account details for a one-off fee to receive overseas invoice payments like a local. Its accounting software enables you to manage cash flow and makes your accountant’s life easier(see Wave Accounting alternatives). If you’re looking for accounting software and services, Wave Accounting is not your only option. However, some users have said that customer service can be slow to respond unless you have one of the paid plans like Wave Advisor.

With Wave, you can effortlessly search for transactions, create accounting reports, and reconcile data across other Wave products. It even automatically calculates sales tax, lets you customize payment terms, and provides clear insights into your cash flow. With its user-friendly interface and robust set of features, Wave Accounting helps small business owners and freelancers keep their finances orderly. In addition, it’s a free solution, making it a good fit for startups and businesses on a tight budget.

FreshBooks

Even though it’s free, it still has all the essential tools like making invoices and tracking expenses. This makes it a good choice for people who want an easy and cheap way to manage their money. Additionally, Wave Accounting offers seamless integration with popular payment processors, making it easy to accept online payments from your clients.

Wave also doesn’t have quite as many integrations as other paid (and more popular) accounting software options. Most importantly, it doesn’t sync with any third-party payroll providers. Wave Accounting may not be the best fit for larger companies with more complex accounting needs. It lacks the necessary capabilities to handle multiple currencies and high transaction volume. It’s also unsuitable if your business requires advanced features like inventory management or project tracking.

If you’re a small business owner in search of free, cloud-based accounting software, Wave Accounting is worth considering. This is particularly true if you don’t have much accounting experience and would like an easy-to-use, fully functional tool. It’s one of the only truly free options on the market and can allow you to manage your accounting processes in one convenient place. Finally, Wave’s billing, payment acceptance, and invoicing features all work together to ensure you get paid on time. In other words, Wave has many of the invoicing perks you get with invoice-heavy software like FreshBooks, but at no cost. Yes, if you use another accounting software or spreadsheet system, you can easily import your existing financial data into Wave Accounting.

While Wave is free to use, it doesn’t offer multiple plans to increase its functionality. It lacks some of the useful features you may find in other accounting software, such as project management, time tracking and inventory management. Honestly, these features outpace those included with some paid accounting software.