About Wave

Wave is a fully integrated solution designed for small businesses with 9 employees or less. With our total focus on small business owners, you’ll never have to navigate inflated or cluttered to find what you need, right now. With an easy to navigate interface and single login, it’s never been easier to find what you need, when you need it.
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Use the 100% free accounting tools in Wave to gain the insights you need, without the legwork. With our automatic bank connections, your information flows seamlessly into Wave, without the manual entry. And even though it’s easy to navigate and understand, it’s still a real, double-entry application. Collaborate with your accountant or bookkeeper in real-time, and save both of you time!
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Use Wave’s invoicing tools to collect your money faster. Choose the template that best reflects your business, load your own logo, and choose a color for your invoices. Email invoices right from Wave, and collect credit card payments through our payment processing. Use Wave’s invoicing tools to stay professional, get paid faster, and keep track of where your money is.
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Everyone loves getting paid, but no one likes running payroll. Now, use Wave’s Payroll tools in America and Canada to take the headaches out of running your payroll. With guaranteed accuracy, direct deposit and employee self-service all included, at $5 per employee per month or less it’s never been more affordable for your employees to get paid.
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Use Wave’s personal finance tools to gain better insights into where your money goes. With simple budgeting tools, real time investment tracking, and more, Wave’s personal tools are the best way to master your personal finances.


Key benefits of Wave

Wave is 100% focused on the real small business owners, with nine employees or less. That means you’ll never see cluttered, complicated software that you can’t navigate, never mind understand.



What you will see is all the tools you need to gain better insights into your personal and business finances, all with one login. Whether it’s invoicing, payroll, or personal investment tracking, the days of multiple logins are in the past. And with free accounting and invoicing tools and totally affordable payroll, getting organized has never been more affordable.



Get paid faster, gain insights into your businesses financial health, know where your money goes and pay your employees, all with Wave.


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Wave Software - Wave Dashboard
Wave Software - Wave Accounting
Wave Software - Wave Invoice Creation
Wave Software - Wave Invoice Schedule
Wave Software - Wave Invoice List
Wave Software - Wave Payments
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Wave Software - Wave Dashboard
Wave Software - Wave Accounting
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Wave Software - Wave Invoice Schedule
Wave Software - Wave Invoice List
Wave Software - Wave Payments

Not sure about Wave? Compare with a popular alternative

Wave

4.4 (1,579)
VS.

Starting Price

US$20.00
year
US$297.00
month

Pricing Options

Free version
Free trial
Free version
Free trial

Features

77
31

Integrations

5
1

Ease of Use

4.4 (1,579)
4.1 (46)

Value for Money

4.6 (1,579)
4.3 (46)

Customer Service

4.0 (1,579)
4.3 (46)
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Reviews

Overall rating

4.4 /5
(1,579)
Value for Money
4.6/5
Features
4.2/5
Ease of Use
4.4/5
Customer Support
4.0/5

Already have Wave?

Software buyers need your help! Product reviews help the rest of us make great decisions.

Showing 5 reviews of 1,579
Henry
Henry
Overall rating
  • Industry: Marketing & Advertising
  • Company size: Self Employed
  • Used Weekly for 2+ years
  • Review Source

Overall rating

  • Value for Money
  • Ease of Use
  • Likelihood to recommend 10.0 /10

Excellent for freelancers and small businesses

Reviewed on 23/9/2021

Extremely positive. In 3+ years I don't think I've had to contact support once, nor have I ever...

Extremely positive. In 3+ years I don't think I've had to contact support once, nor have I ever considered switching to other tools. It is one of the few software tools I use regularly where I am happy to open it, and I'm happy to give them their percentage.

As a freelancer, Wave has been indispensable to me. Always simple and smooth, and exceptional bang for the buck. Not only would I recommend Wave to freelancers and small businesses, I have recommended it. Numerous times.

Pros

Wave is ideal for freelancers. Set up is really simple and the interface is user-friendly. I have zero background in financial matters, and with Wave that's totally fine.

The price is also right. There's no subscription or hidden fees, they just take a perfectly reasonable percentage from invoice payments. I asked a financial advisor friend of mine before signing up, and she was pleasantly surprised by the low rates, and told me to go for it. I've been using Wave for over 3 years, and I have never once been hit with a fee outside of the basic rates.

Wave also provides a host of reporting and tracking tools in this basic account. They didn't influence my decision to sign up, but they've proven to be very useful.

And finally a small but really helpful feature, especially if you're a freelancer just starting out: immediate money transfers. Once someone pays your invoice, the money is in Wave, and takes 2-3 days to transfer. For 1% more payment, you can transfer money within minutes. For the cash-strapped freelancer, that can be mana from heaven.

Cons

There are no major cons that I can think of. One issue I have is mostly my fault: When I first started using Wave I didn't know what I was doing, and I ended up creating a whole bunch of client and work type records unnecessarily. It would be nice if there were some more in-your-face tutorials, maybe some hover tips for new users. But the messiness is mainly from me leaping in before looking.

Alternatives Considered

QuickBooks Online and Zoho Expense

Reasons for Switching to Wave

It was the cheapest option, and the most user-friendly looking. I have no background in finance and didn't want complex features built for accountants - Wave has those features, but only if you want them.
Felix
Felix
Overall rating
  • Industry: Accounting
  • Company size: 5,001–10,000 Employees
  • Used Daily for 6-12 months
  • Review Source

Overall rating

  • Value for Money
  • Ease of Use
  • Customer Support
  • Likelihood to recommend 7.0 /10

A Solid Free Small Business Accounting Software

Reviewed on 2/9/2019

It’s been a solid piece of cloud accounting software, albeit limited. It’s hard to beat the price...

It’s been a solid piece of cloud accounting software, albeit limited. It’s hard to beat the price of it, and I have yet to find a similar but more fully featured one at the price of FREE!

Pros

I use Wave to keep track of my personal finances, from income to spending. In that lens, Wave performs quite well, allowing you to tag transactions that are automatically imported from your bank. It also lets you generate some simple reports such as your income statement, balance sheet, and cash flow. The interface is simple to use and understand, and I was able to pick it up (coming from an accounting background) in under a few minutes, without having gone through a walkthrough. The included ability to reconcile statements is also quite handy and allows me to verify that all transactions are posted appropriately. The inclusion of receipt tracking and tagging is also quite handy!

The best part about Wave is the price! If you don’t need features such as invoicing and payroll (some SMB’s may find these handy. From a personal perspective, I did not), the accounting software is completely free.

Cons

Wave still appears to be in its infancy, although the product has been there for a while. The user interface will frequently be updated (the reconciliation flow changed 3 times since I signed up about 6 months ago), and new features will constantly be added without any notification, often shifting often things around from where you expect them to be.

The reports from Wave are also very limited, so don’t expect any customizable reports as of 08/2019. You get about 12 reports total, some or all of which may not be very relevant to you, depending on your end goal. These reports are completely canned, system generated, and you do not have the ability to create new reports. This may change in the future, but as it stands, this is the current state of affairs.

The receipt tracking feature is definitely handy to have. While Wave will OCR your receipts and tag them to a category, it will actually post an entire transaction to the ledger when you save it down. For those of us with a bank account and credit card linked to auto import transactions, you’ll get a duplicate: one from the CC, and one from the receipt. It would be nice if Wave included some intelligence to automatically match the receipt and transaction together, but for now, you need to manually merge each.

Finally, as a small point, Wave does not obtain any service assurance through SOC1 or SOC2 reports, an issue that most people wouldn’t ever care about.

Alternatives Considered

Xero

Reasons for Switching to Wave

I mostly chose Wave over Xero for the price. As I’m using this for personal finance tracking, and not a small business, I didn’t want to have to pay Xero’s rather pricy monthly subscription.
Celine
Overall rating
  • Industry: Marketing & Advertising
  • Company size: 2–10 Employees
  • Used Monthly for 2+ years
  • Review Source

Overall rating

  • Ease of Use
  • Customer Support
  • Likelihood to recommend 0.0 /10

Worst nightmare during the worst time

Reviewed on 26/11/2023

About 6 months into the business, we heard of wave. We are based on the west coast, and saw that...

About 6 months into the business, we heard of wave. We are based on the west coast, and saw that they were on the east coast in Canada, but we had clients in different time zones, so that was no issue. Starting out, we wanted to make a good impression, so we had 5 clients run through wave, our biggest one being my cousin's boyfriend, although that was never disclosed because it didn't have to be. Further along, readers will understand why I mentioned it. We had transactions that averages between $500-$2000, but he was the main client that we used with wave. Overall, he paid us $12,000 for all of his small businesses as he is an entrepreneur. They saw that he had made many payments within a span of 3 months, and froze our account altogether, saying that they could not release the funds until 6 months had passed, and even gave us the specific day the funds were to be released. We didn't know what to do, so we waited the entire 6 months. When we reached out to them, they told us to collect payment in another way, but they had already collected payment for us, and we can't double charge anyone. It makes no sense. [sensitive content hidden] (her boyfriend) was furious, and tried to call the company several times himself, but THERE IS NO ACTUAL PHONE LINE for them! So all that could be done were emails that were ignored. He had business up in Canada and somehow got ahold of someone, asking to refund his money so he could pay us directly, but again received no response. 6 months passed and we never received our money. My cousin would log on daily and we had our business account linked to it, so all was in order, but all it was was a copy of everything wells Fargo had. We tried for 2 years to get our money back, even after the company was dissolved, with no luck. They decided to close our account (we weren't using it for anything anyway) and gave us the reason that our company didn't have enough of a presence for them. After 3 years and the actual person that paid trying to contact them and no chargeback of any sort occuring, it's quite obvious that there is no fraudulent or suspicious activity whatsoever. My cousin spoke to a different person every day via live chat who never knew what was going on and would forget about our case. One day she finally got to the right person, who saw the mistake on their end, and we finally received our money over 3 years later.

Pros

The only positive thing that I can say about them, is that after THREE years and having to lose the company that my cousins and I started together, we did finally get our money, or rather most of it.

Cons

I will just tell you our story with it. My 2 cousins and I decided to go into business together before COVID happened. We all have degrees in different categories and wanted to join forces. One had a degree in computer engineering, one in graphic design, and I had a business degree although at the time I had a huge following on social media and was working as an influencer. We wanted to help small businesses get their names out, and started a business advertising for them. I used my presence on social media to advertise by word of mouth, while my cousins would design web sites, and create custom logos and business cards for our clients. We began with just friends to test, so we didn't have a set price for anyone. It was also a side gig so we let people set their prices. Thankfully wave was not the only company that we used. I will describe our experience in the next question.

Carlos
Overall rating
  • Industry: Telecommunications
  • Company size: 2–10 Employees
  • Used Weekly for 2+ years
  • Review Source

Overall rating

  • Value for Money
  • Ease of Use
  • Customer Support
  • Likelihood to recommend 10.0 /10

Ride the Wave of simplicity for Small Business Accounting

Reviewed on 18/1/2024

Wave account was my only choice when I realized how simple it was to do everything from my phone...

Wave account was my only choice when I realized how simple it was to do everything from my phone or tablet. No need to log into laptop or computer

Pros

Love how simple it is to setup and manage from anywhere, especially my phone

Cons

They recently shuttered their banking option, just when I was getting used to it

Alternatives Considered

HoneyBook and Xero

Reasons for Switching to Wave

The most robust system for staying mobile
Paul
Overall rating
  • Industry: Construction
  • Company size: 2–10 Employees
  • Used Daily for 2+ years
  • Review Source

Overall rating

  • Value for Money
  • Ease of Use
  • Customer Support
  • Likelihood to recommend 10.0 /10

Definitely the best invoicing app I've ever used!

Reviewed on 6/10/2023

My favorite invoicing app, hands down.The invoices that are generated are super professional and...

My favorite invoicing app, hands down.The invoices that are generated are super professional and detailed, the reminders are very helpful, and it is a sharp looking app with an amazing interface, just hoping for the ability to use our swipe keyboard and predictive texts in the fields that it's most useful, such as item descriptions and such.. For the first few years that I used this app on my android, it was no problem, and we were able to use Swype keyboard, predictive text and speech to text in all fields, and in one of the recent updates, this feature was removed, making it a painstaking process to have to hammer out every single character one at a time, but myself and all the other business owners that use and love this app are holding out hope that this changes like very soon! Hopefully on one of these next updates somebody cares about our feedback!

Pros

The phone app is so amazing to use, so easy and so complete..It's very easily customizable with your logo and information, and the invoices look sharp, clean & professional, with multiple options to send the invoices- PDF, links, etc.This app has become absolutely indispensable to my business.

Cons

The ONLY thing (but a major thing) that I've seen that's frustrated not only myself, but many many others that are part of a small business owner's forum, is the following-and I hope someone does something about it ASAP-In the phone app, we used to be able to use the Swype keyboard, speech to text & predictive text, making it a breeze to fill out or alter item descriptions and such.After one of these recent updates a few months ago, this capability was removed from those fields, obligating us to type one character at a time.This really killed the ease of use of this app, and while I still give it a glowing review, the truth is that if this doesn't get resolved in the near future, by next year I'll have to move on to an app that allows me to use my keyboard & speech to text to fill out these item descriptions.The only reason myself and many others have not switched is bc we've complained about it and we are all really hoping that the development team takes the 5 minutes it would take to switch this back to the way it was, and because of the fact that we all have developed a thorough item list that would be hard to start from scratch, but we are holding out hope bc it's our favorite!Please, Wave Dev team, please revert this function to it's original capabilities!

Alternatives Considered

QuickBooks Online

Reasons for Switching to Wave

I actually have QuickBooks and can use it for everything that I use wave for, but wave is just so ridiculously easy to use right off my phone, unfortunately like I mentioned above, if the capability of using swipe keyboard, speech to text, and predictive text in the item description fields is not restored in the next few updates, I might have to use my Quickbooks for more than just the accounting!
Showing 5 reviews of 1,579 Read all reviews

Wave FAQs

Below are some frequently asked questions for Wave.

Wave offers the following pricing plans:

  • Starting from: US$20.00/year
  • Pricing model: Free Version, Subscription
  • Free Trial: Available

Accounting & Invoicing - Free Receipt Management - Free Credit card processing - $0.30 + 2.9% per transaction Bank payment/ACH processing - 1% per transaction ($1 minimum fee) Payroll (tax service states): $35/month base fee + $4/active employee + $4/independent contractor paid Payroll (self service states): $20/month base fee + $4/active employee + $4/independent contractor paid

Wave has the following typical customers:

Self Employed, 2–10, 11–50, 51–200

Wave supports the following languages:

English

Wave supports the following devices:

Android (Mobile), iPhone (Mobile)

Wave integrates with the following applications:

Gmail, Microsoft Outlook, PayPal, Shoeboxed, Zapier

Wave offers the following support options:

Email/Help Desk, FAQs/Forum, Knowledge Base, Chat

Related categories

See all software categories found for Wave.