Wave Accounting Review 2023 Pricing, Features, Complaints

Home » Wave Accounting Review 2023 Pricing, Features, Complaints

wave bookkeeping review

Similar to QuickBooks Online, FreshBooks offers four different payment plans and monthly pricing — Lite at $6, Plus at $12, Premium at $22 and Select at custom pricing. Annual pricing for each plan includes a promotional discount of 60% for the first three months. Credit card processing is 2.9% plus 60 cents per Visa, Mastercard and Discover card transaction, or 3.4% plus 60 cents per American Express transaction. ACH processing fees are 1% per transaction with a $1 minimum fee. Stay updated on the latest products and services anytime anywhere. Ve already hit on a few accounting features that set Wave apart, but there are a few more perks to cover. Wave does not integrate with QuickBooks, but if you want to connect QuickBooks and Wave you can use Zapier as a solution.

With Wave, you can accept payment via credit card or bank payments. Your customers can choose to pay whichever way they prefer, or you can mandate which form of payment you’d like to accept on each invoice. As noted up and down this article, Wave has become one of the most popular accounting software platforms for small businesses and freelancers out there. In addition, what some users complained about was the scalability of the accounting software. However, there are no advanced plans for businesses looking to grow.

Terrible customer service

As previously mentioned, Wave offers an optional Payroll app that provides integrated payroll services to customers in eight states . For these eight states, Wave will transfer the appropriate tax payments and file all tax forms. Finally, you can add a product or a service to Wave, but there really isn’t a way to manage inventory, making Wave wave bookkeeping review a much better option if you provide services. If you’re tracking sales tax, you’ll have to enter each appropriate rate in the Sales Tax screen in order to apply it to an invoice. Wave software users have access to all free business accounting and invoicing features. Yes, Wave’s accounting software does automatic double-entry bookkeeping.

  • There’s no live support unless you pay for it so you’ll have to dig for the answers to your questions in the help center or cross your fingers that the automated chatbot will help you out.
  • Like Wave, QuickBooks Online is easy-to-use, cloud-based accounting software.
  • Wave Accounting offers small businesses fully functional accounting solutions for essential invoicing and bookkeeping.
  • Wave Plus, a service provided by Wave that will do your monthly small business bookkeeping, provide tax services, or assign a personal coach to you.
  • In addition, users are very pleased with the fact that invoicing features are unlimited and customizable.

Our partners cannot pay us to guarantee favorable reviews of their products or services. Mobile applications are available for Wave Receipts and Wave Invoices, which will allow you to scan receipts and send an invoice on the go. Wave Accounting, Payroll, and Payments are not available with mobile applications at this time. Wave Receipts is not currently available on Google Play, but Receipts and Invoices are both available for iOS.


Wave really is a free accounting software option for small businesses. Anyone can use Wave free of charge as long as you have an email to set up your account.

  • Their support is completely unhelpful and blames everything on their ‘risk’ team, giving no visibility into the issue.
  • If you do want live support, you’ll need to invest in an Advisor or paid service.
  • They are willing to take customers money, just not payout over a phone number change, that could have been verified in a matter of seconds with a simple phone call.
  • You can also visit Wave’s Help Center to browse through a variety of application categories, ask a question, or access one of the Wave Guides.
  • Specifically these issues tend to focus on the credit card processing, invoicing products, and transferring funds for credit card payments.

Wave offers double-entry bookkeeping and accounting, and includes excellent invoicing and online payment acceptance. You can easily add a vendor bill to Wave and choose the currency that you wish to pay it in.

Best Nonprofit CRM: Charity & Donor Management Software Compared

There’s no live support unless you pay for it so you’ll have to dig for the answers to your questions in the help center or cross your fingers that the automated chatbot will help you out. Wave and QuickBooks are both popular for small businesses, but they each stand alone with their unique offerings. When it comes down to Wave vs. QuickBooks, the right answer lies in the way you run your business. Streamline your payables process with Divvy’s free vendor payment solution.

  • Wave is a freemium accounting tool designed for freelancers and small businesses.
  • The “stay on top of taxes” section compiles the taxes you’ve paid on your invoices and bills.
  • And, if you’re a resident of New York, California, Florida or Texas, you can add full payroll tax services for an additional $10.
  • Wave will handle the transfer of proper tax payments and the filing of all necessary tax papers for these eight states.
  • It can help you manage your bookkeeping, accounting and invoicing processes through a few internal integrations.
  • In addition, Wave allows you to add an unlimited number of partners, collaborators, or accountants.

FreshBooks has an excellent mobile app that allows you snap photos of receipts, send invoices and track mileage. Wave Payroll is $35/month + $6 per employee/contractor in full-service tax states, and $20/month + $6 employee/contractor in self-service states. If you don’t need lots of technical accounting solutions besides accounting and payroll, Wave Accounting with the Payroll add-on is your best choice.

You can access any of Wave’s features from the vertical menu bar on the left side of the screen. Just click on the arrow to display all of the options available for that particular feature. Help is also available from the menu bar, as is the live chat option. One of the more helpful options is the Integrations tab, which allows you to easily connect with various apps that integrate with Wave. Wave includes 12 reports that have limited customization capability, though they can be exported to a CSV file. Financial statements, a sales tax report, customer report, and an aged receivables report are also available, as is an aged payables report and account balances report. Affected businesses received messages about the changes in their Wave accounts.

  • For a 100% online solution, Wave Accounting offers a very wide range of features.
  • After a few months they refunded 2 transactions of a client again.
  • Be aware that Wave doesn’t track or calculate a business’s unit value of inventory, only the monetary value.

Features included with the Starter option are recurring billing, automatic reminders and a customer portal. Additional features in the Scale version include one-time invoicing, invoice auto-reconciliation, quotes, smart retries and revenue recognition. 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.