Sign up for Wave and send your first invoice right away—it only takes a few minutes! Schedule everything, from invoice creation and invoice sending, to payment collection and overdue payment reminders. With a Wave Pro subscription, you’ll have recurring billing and other automation features. A common issue when invoicing in Microsoft Word, Excel, or other DIY solutions is making calculation errors.
Get more time for what you love
We also looked at how easy the software is to use. Run multiple businesses from the same account, check your dashboard to see how business is doing and collaborate with unlimited cash flow worksheet partners and accountants. Whether you run on a Mac or PC, this software is compatible. The free version lacks some of the bigger features suitable for larger enterprises, but still has much to offer. Forbes Advisor selected these solutions based on pricing, features, support, reputation and more. However, businesses with complex needs or those operating outside the US and Canada might need other alternatives.
Haven’t found the right free solution? Maybe it’s QuickBooks.
Its free features make it a valuable tool for managing finances without high costs. Those who rely heavily on integrations (e.g., communication, CRM, and project management tools) may not be able to work with Wave’s limited integrations. Xero also offers inventory, project management, contact management, sales quotes, and multiple currencies. The best part is that it has a free plan that you can use forever.
“My fav tool for invoicing and accounting is Wave. Easy-to-use. And I love the interface!” Look and feel polished, keep your books organized, and kick tax season’s butt, whether you’re a newbie or seasoned pro. Unlike other software, Wave is built for small business owners and solopreneurs at every stage—not accountants—so it’s easy for you to use. “Wave makes your life a whole lot easier and takes that worry off you. I’ve tried Quickbooks—it’s a bit more complicated and technical, and takes more time to set up.” This can help you save time and make financial decisions quickly.
The rate that you charge for your freelancing services can vary, so it’s important to get a grasp of market trends before sending your clients an invoice or quoting a price. Know when an invoice is viewed, becomes due, or gets paid, so you can take the right actions to manage your cash flow. Add your logo and brand colors to our professional invoice templates. Not all financial institutions are supported so we can’t guarantee that you will be able to connect an account.
How to file taxes as a sole proprietor (in the US)
“When I signed up with Wave it was a no brainer. It’s been one of the best decisions I’ve made when it comes to making sure my accounting is on point.” Wave is PCI Level-1 certified for handling credit card and bank account information. Connect your bank accounts in seconds with the Pro Plan. Have an eye on the big picture so you can make better business decisions.
reasons to choose invoicing software over invoicing templates
Some accounting software can also help track mileage or offer payroll. Consider what’s important to you and your business, then find software that offers those features. When choosing free accounting software, it’s important to consider your needs. With Wave, you can track income and expenses, send invoices, track sales tax and create reports. Wave Accounting free accounting software is one of the easiest to use, with an interface that’s similar to Mint.
What are the benefits of digital invoicing?
This leads to the automatic creation of the Chart of Accounts (COA), which the software auto-updates as you continue transacting. This allows you to maintain a comprehensive ledger of all your financial activities, organize and categorize your financial transactions, and monitor your cash flow accurately. Wave uses double-entry accounting to monitor transactions based on income and expenses.
So, while Wave Accounting is ideal for small businesses and freelancers on small budgets, larger businesses how to convert an annual interest rate to a monthly rate prefer QuickBooks. Here are some alternatives to Wave Accounting that you might consider for your business needs. This ensures a smooth transition of your financial records from one system to the other. If you have Wave Advisor with bookkeeping support, a trained, in-house professional can help you.
Does Wave offer recurring invoicing?
This can affect which services appear on our site and where we rank them. Pricing will vary based on various factors, including, but not limited to, the customer’s location, package chosen, added features and equipment, the purchaser’s credit score, etc. Stay updated on the latest products and services anytime anywhere. 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. (The other options on our list are relatively new—Intuit QuickBooks had the advantage of establishing a successful desktop accounting program before the internet was more widely accessible.)
Accounting software for small businesses, starting at $0
Discount applied to the listed monthly price for Wave’s Pro Plan, starting from the date the Pro Plan is purchased and continuing for three monthly payment periods. The subscription fee for the types of financial covenants Pro Plan is per business, not per owner. Learn more about changing subscription periods and plan types, and how to cancel your Pro subscription in our Help Centre. Plus, easily access key reports (like profit and loss statements) about the health of your business. Wave’s dashboard organizes your info to show how your business is performing. Want to look more polished, save more time, and conquer cash flow?
Features
Dig down into detailed data with expense tracking and customized reports to manage your revenue, categorize expenses, and find cost-cutting opportunities. Get the business insights you need, exactly when you want them. Use software that’s specifically designed for freelancers like you. Freelancing gives you flexibility to run your business your way. Freelancing is fun, but accounting and admin tasks can cause headaches. Deposit times may vary due to processing cutoff times, third party delays, or risk reviews.
- The priciest plan, which includes 25 users, starts at $200 a month.
- While human error will always play some role in security breaches, you can be confident in your accounting platform when it comes to keeping your information safe.
- Whether you run on a Mac or PC, this software is compatible.
- 1 Payouts are processed in 1-2 business days for credit card payments and 1-7 business days for bank payments.
- Katherine Haan, MBA, is a Senior Staff Writer for Forbes Advisor and a former financial advisor turned international bestselling author and business coach.
- You’ll also want to find software that is easy to use and available on multiple platforms.
You can even set up recurring invoices for repeat clients! Once the deal is sealed, convert estimates into invoices in seconds. Since Wave uses accountant-approved, real double entry accounting, your accountant will have all the information they need. You’ll have all the information you need to ensure you don’t miss out on any tax incentives that could grow your business, minimize taxes, and help you keep more of your money. Access your books at home or on-the-go, track business-related expenses like travel and office supplies, and set up the systems you need to take control of your cash flow and keep more of your money.
Easy invoicing
- Xero also offers inventory, project management, contact management, sales quotes, and multiple currencies.
- Sign up for Wave and send your first invoice right away—it only takes a few minutes!
- The best part is that it has a free plan that you can use forever.
Just starting your business or looking for the basics? Plus, view cash flow reports to keep an eye on income and expenses and make smart business decisions. Your business is unique, and every job is different—create custom categories for gas, equipment, rentals, uniforms, or whatever keeps your business running.
Wave accounting software is the solution you need to take charge of your business and keep your hard-earned money safe. Wave’s accounting software is designed for self-employed people and freelancers like you, and can be easily customized for any size business and any type of goods or services you provide. Wave is cloud-based, so you can securely access your accounting software and your financial information anywhere you are—whether you’re working in your pjs, or waiting for a meeting to start.
However, it is suitable for businesses who want to scale since the pricier tiers offer the needed features. While Xero has no free plan, you can utilize the 14-day free trial to try the advanced features. However, it also allows companies to scale with tiered plans that provide advanced features lacking in Wave Accounting. So, Zoho Books is a great alternative to Wave Accounting since it has all the basic accounting features. It has tools that are not available in Wave, such as inventory management, project tracking, and budgeting. You can export data in CSV or other compatible formats from QuickBooks and other accounting apps and then import the document into Wave Accounting.
At the same time, employees on Slack, Telegram, or WhatsApp can be notified that an invoice has been created and sent to a particular customer. You can set up an automated workflow (Zap) in Zapier and then use it to connect Wave Accounting with your favorite business app. Since BlueCamroo has a time tracker, you can also generate a Wave invoice based on the billable hours. After the client approves, you can send it to Wave to automatically create an invoice. You can also upload transactions, customers, invoices, and products from Google Sheets to your Wave account. Wave Connect is a Google Sheet add-on that lets you download your COA, customers, invoices, and products to a spreadsheet.
You’ll also experience peace of mind knowing your personal financial information is backed-up and secure. You can then dig down as deep as you like with expense tracking and customized reports to manage your revenue, categorize expenses, and find cost-cutting opportunities. As a self-employed professional, your flexibility is a huge advantage, so you need financial processes that are as flexible as you are. You can also choose from Wave’s selection of professional invoice templates to make sure every touch point instills client confidence in your brand. Let Wave help you manage your finances so you can focus on building your business.