Wave is an accounting and payroll solution available in North America that has been designed to make running payroll from a small business an easy affair. Wave comes with an array of tools that give you a better insight into your finances.
It is a well-integrated business platform, which combines accounting, invoicing, and receipt scanning into a compact and straightforward solution. It is an excellent option for fledgling small businesses with ten employees or under, as well as for self-employed professionals including entrepreneurs, freelancers, and consultants.
The great thing about Wave is that is lets you manage personal and business finances, from a single login. It doesn’t matter if it’s invoicing, payroll, or personal investment tracking, with Wave you no longer have to use multiple logins to gain access to your data.
Wave comes with free accounting tools that give you access to the insights you need, without the having to go all around the houses to get to it. Wave uses automatic bank connections, that allow your financial information to seamlessly connect with Wave, without the need for multiple manual entries. The great thing about Wave is that even though it is easy to understand and use, it is also a fully functional double-entry app. With Wave you can collaborate with your accountant in real-time, therefore saving both of you time and money.
InvoicingBy using Wave’s invoicing tools you can collect that funds that are owed to you, faster. Simply choose the template, which most accurately reflects your business. Next, add your own logo and pick a color for your invoices, that’s it. You can email invoices directly from within Wave, and collect credit card payments via Wave’s payment processing tools, so your customers can pay you as soon as they receive their invoice.
IntegrationsWave integrates with Shoeboxed, and PayPal, and it supports Android and iOS powered devices.
PricingWave uses a freemium pricing model, which means that all accounting and invoicing undertaken with Wave is Free. Wave’s Payroll features are priced from $10 per month in Canada and $15 per month in the US. With $4 per employee for the first 10 employees, and an additional $2 per employee for 11+. If you want to accept all major credit cards, the service is priced at $0.30 + 2.9%.
Bottom LineOverall, Wave is an all-in-one accounting, invoicing, payroll, payments, and receipt management solution that is great for small businesses. Is well suited towards both personal and business accounts, and being able to move expenses between the both of them is really useful. It has superb invoicing tools and the ability to let people pay online, simply, via one app is a superb time saving feature.
With direct account linking (bank, credit card), flexible invoicing tools that can be paid via credit card, and the ability to split an expense to home and business (i.e. Internet access) you can see why numerous small businesses are chosing Wave as their accounting platform.