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Free accounting software for small business – Wave Financial

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Wave Accounting

Wave’s easy-to-use accounting software can connect your bank accounts, sync your expenses, balance your books, and get you ready for tax time. Start taking control of your finances today with the best accounting software for small businesses.

Create your free account

Christopher Paunil, Wave customer

Showcasing our accounting software

Get started in seconds

After creating your account, everything’s set up so you can get started right away. Access it anywhere, any time. Your data is always available, and it’s backed up for extra peace of mind.

Unlimited bank and credit card connections

Connect your bank accounts in seconds. The transactions will appear in your bookkeeping automatically, and you can say goodbye to manual receipt entry.

Keep track of your business health

Have an eye on the big picture so you can make better business decisions. Our robust small business accounting reports are easy to use and show month-to-month or year-to-year comparisons so you can easily identify cash flow trends.

Track and organize all your transactions in one place for year-end accounting

Get started in seconds

After creating your small business accounting account, everything’s set up so you can get started right away. Access it anywhere, any time. Your data is always available, and it’s backed up for extra peace of mind.

Keep track of your business health

Have an eye on the big picture so you can make better business decisions. Our robust reports are easy to use and show month-to-month or year-to-year comparisons so you can easily identify cash flow trends.

Track and organize all your transactions in one place for year-end accounting

Make tax time a breeze

When everything is neatly where it belongs, tax time is simple. Wave’s smart dashboard organizes your income, expenses, payments, and invoices.

We’re serious about security

Bank data connections are read-only and use 256-bit encryption. Servers are housed under physical and electronic protection. Wave is PCI Level-1 certified for handling credit card and bank account information.

Accountant-friendly software

Wave uses real, double-entry accounting software. Don’t know what that is? That’s OK. Accountants do, and they’ll thank you for it.

Organize with our accounting software

“It is BANANAS how much easier & intuitive @WaveHQ is for human accounting, invoicing and payroll than Quickbooks.”

Ash Ambirge – CEO, The Middle Finger Project

Unlimited accounting, 100% free

  • Fast setup with no training required!
  • Unlimited bank and credit card connections
  • Unlimited income and expense tracking
  • Instant updates for your invoicing, payroll, and payments data
  • Unlimited customizable invoicing and receipt scanning per month
  • Bill and invoice reminders
  • Dashboards (cash balances and invoice status)
  • Exportable accounting reports: profit/loss, sales tax, cash flow, comparative, and more
  • Bulk transaction updates for quicker bookkeeping
  • Customizable sales taxes
  • Journal transactions
  • Automatic exchange rate calculations
  • Customizable expense/income categories (chart of accounts) with Account IDs
  • Automatic payment transaction reconciliation for Payments by Wave users
  • Search transaction descriptions
  • Accountant approved: real double-entry software
  • Run multiple businesses in one account
  • Fast setup with no training required!
  • Unlimited income and expense tracking
  • Instant updates for your invoicing, payroll, and payments data
  • Unlimited customizable invoicing and receipt scanning per month
  • Bill and invoice reminders
  • Dashboards (cash balances and invoice status)
  • Exportable accounting reports: profit/loss, sales tax, cash flow, comparative, and more
  • Bulk transaction updates for quicker bookkeeping
  • Customizable sales taxes
  • Journal transactions
  • Automatic exchange rate calculations
  • Customizable expense/income categories (chart of accounts) with Account IDs
  • Automatic payment transaction reconciliation for Payments by Wave users
  • Search transaction descriptions
  • Accountant approved: real double-entry software
  • Run multiple businesses in one account
Fearless Accounting Guide

Empower yourself with our Fearless Accounting Guide

Accounting doesn’t have to be scary. Our guide has pages of easy-to-follow tips and lessons to help you run your business with confidence.

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  • Is your software actually free?

    Yes really, no tricks! Our software is 100% free, no trials, no limitations, and no hidden fees. Use it as much as you want, for as long as you want, and we won’t charge a cent. Our free software includes invoicing, accounting, and receipt scanning.

  • Is my data safe?

    Completely safe. Our servers are protected physically and electronically. Any connection between you and Wave is protected by 256-bit SSL encryption. Wave is a PCI-DSS Level 1 Service Provider.

  • Do I need to install any software?

    Wave is 100% web-based, so you just need an internet connection and browser.

    You can, however, download and install our mobile invoicing and receipt scanning apps for iOS and Android.

  • Do I need to enter my credit card details to sign up?

    Put your wallet away, you won’t need to enter in any credit card ever, unless you want to use our payroll service. Just create your account and get started for free.

  • Is Wave compatible with Mac or PC?

    Wave works on both Mac and PC. We also have free iOS and Android apps for invoicing and receipts.

  • Can I set different account privileges for employees or my accountant?

    Yes! Wave makes it easy to let other people help with your accounting. You can grant access to a trusted individual—an accountant, bookkeeper, tax preparer or business partner, for example—by inviting that person to be a collaborator. See our step-by-step guide on how to invite collaborators here.

  • Can I import my data from other accounting apps like Quickbooks?

    Yes, switching is easy! See our step-by-step guide on how to make the switch here.

  • Do you provide support?

    Yes! We’re ready to answer all your questions with email support for all software (invoicing, accounting and receipt scanning). Live chat support is available for our paid financial services (Payments and Payroll).

  • What is accounting?

    Accounting is the process of recording and tracking financial statements to see the financial health of an entity. This is done by inputting, sorting, measuring, and then communicating transactions in various formats. 

    Accounting consists of bookkeeping and analysis. Bookkeeping, or financial accounting, consists of recording transactions, which can include purchases, sales, and receipts of an individual or an organization. 

    Once the bookkeeper records and organizes all of the transactions, the next step of accounting is to analyze these transactions into helpful reports which will show the state of one’s finances. These reports can include profit/loss statements, cash flow reports, and can track sales tax to keep a close eye on what is owed come tax time. 

    With small business accounting done right, small business owner will be able to have a clear understanding of the state of your finances so you can make better decisions based on what you have available.

  • What is bookkeeping software?

    Accounting software is a solution for bookkeepers, accountants and small business owners to record and report on their finances. It is used to help with processing financial transactions, tracking expenses and automating bookkeeping and accounting tasks to help facilitate running a business. 

    Best accounting software allows business owners and accounting professionals to gather all of the needed financial information into one system with ease in order to track the financial health of one’s business. Rather than doing one’s accounting duties by hand in a ledger and leaving them vulnerable to human error, accounting software streamlines the process and helps get these tedious tasks done quickly and accurately. 

    Accounting software like Wave with extensive accounting features offers small businesses the ability to just hop onto their computer and check how their business is faring, rather than flipping through thousands of pages and receipts.

  • Considerations when choosing a bookkeeping software

    One consideration when choosing accounting software is the cost. Different accounting software companies have different pricing models – some charge monthly and others charge by the usage of features, however, there are some accounting systems that are completely free so it’s important to choose the one that best fits your budget. It’s also important to consider the features that each accounting software offers. 

    Some software is more robust than others and offers an extensive list of accounting features and tools that others may not have, however, you may find that some of these tools are not necessary for you and not worth the extra cost that may be associated with them. 

    An important consideration to look for when choosing your accounting software is to look into who the software is built for. 

    You may find that one software is catered more towards bigger businesses while other accounting solutions are built for small business owners. This can make a huge difference in your choice as the one that’s closely associated with your business will likely have all the accounting software options you need.

  • Typical features of bookkeeping software

    A comprehensive accounting software will offer you several features and plans that would not otherwise be available if you are managing your accounting elsewhere. 

    Accounting software will allow you to connect your bank account to it, which means that any transactions made through your bank will connect to the software, meaning no manual data-entry is needed. 

    Reports with accounting software allow you to keep track of your business’ health with month-to-month or year-to-year comparisons so you’re able to identify any trends with your cashflow management. When using accounting software, tax time will be much easier to manage as your income, expenses, invoices, and payments will all be tracked in one place.  Some cloud based accounting solutions also offer business owners such accounting features as time tracking, inventory management, double entry accounting, accounts payable, and cash flow management.

    Bank reconciliation is a helpful tool in accounting software as it automatically compares your financial records with your bank statements to ensure that everything matches up and there are no redundancies.

  • The benefits of a comprehensive accounting system for small businesses

    Using small business accounting software helps in relieving the burden of manual data entry, prevents common human errors, helps businesses and accountants when tax time comes around and allows the user to look at in-depth reports of how their business’ finances are faring. 

    Perhaps the biggest advantage of a comprehensive small business accounting software is all of the time it will save. In the past, accountants and small business owners would have to hand-write and systematically file all of their expense reports and receipts in a physical location. 

    With a comprehensive accounting software, all of their financial reports will be consolidated into one online system, making it easier to keep track of their records. An accounting software for small businesses offers the ability to automate many processes which will not only save time but will also ensure accuracy and efficiency with one’s financial reports.

Copyright © 2010 – 2021 Wave Financial Inc. All Rights Reserved. Certain products and services offered in the United States are provided by Wave Financial USA Inc. NMLS#1846278


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