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Wave Software

Wave is a cloud-based, all-in-one accounting solution for small businesses with less than 9 employees. It provides financial services and software for small businesses. It is known for creating and sending professional invoices within a short time.

Wave accounting is free, supports double-entry bookkeeping, and permits unlimited user access, invoicing, and expense management. It also offers access to payroll apps, receipt scanning, and Wave invoices. The most common users of Wave are small-business owners (about 1-50 employees) and clients in the accounting industry. These small business owners also include freelancers seeking to grow and establish themselves in a company. Wave solutions include payroll applications and online payments that integrate with accounting solutions.

Wave Accounting tool

Software Overview

Wave is ideal for business owners and freelancers who wish to grow and are looking for a free software platform. This platform is user-friendly and provides user guides to help newbies get used to the functionalities. It provides numerous benefits at no cost. These include tools for managing bookkeeping, accounting, and invoicing in one place through internal integrations.

To sign up for Wave, you need to provide your business details (type, currency you use, and address). Once you’ve logged in, the dashboard will indicate cash flow, profit and loss, invoices, bills, and other financial insights. On the dashboard, you can link bank and credit cards and automatically download and categorize your transactions. If you need to add or remove any transactions, you can access that through the reconciliation site or transaction pages. You can then create customer profiles. 

Benefits of Using Wave

It’s Free

As a small business owner, spending money on something you’ve no experience with is hard. Wave grants small business owners access to functionalities that are not always included in other software accounting plans. These functionalities include accounting, invoicing, and receipts. Unlike other free accounting software, Wave accounting does not require you to spend money on expensive add-ons to be fully functional for accounting, bookkeeping, or invoicing. Registering with Wave accounting allows you to access bank and credit card connections, income and expense tracking, and guest collaborators. You will also be allowed to run multiple businesses in one account.

Customizable Invoicing

Wave accounting lets you issue invoices in any currency and send approved estimates on personal preferences. This is made possible by automatically syncing invoicing and accounting, combining software for businesses that manage their billing and bookkeeping in one place. This action also speeds up payment; additional charges might apply. You can also add and manage customer profiles and send payment reminders, receipts, and follow-up emails. It offers a dedicated invoicing mobile app to send invoices and track payments.

Access To Receipt Scanning

You can obtain comprehensive receipts with free iOS and Android applications and record them as accounting transactions.


It has a user-friendly and easy-to-use interface built on an intuitive design. There is no need for prior knowledge to navigate through the system. The platform is designed in an easy-to-navigate way. In case you get lost, there is a help center where you can get support for your issues, especially those regarding account bugs or account creation. There are also videos that offer tutorials on navigating through the app. Wave accounting has also provided a platform where you can talk to other business owners, get tips or ask questions at the community forum on wave’s website.

Product Features

Wave comes with a suite of features designed to make accounting tasks easier.

  • Wave finance dashboard
  • Wave accounting
  • Wave invoicing
  • Wave expense tracking
  • Wave accounts payable
  • Wave contact management
  • Wave inventory
  • Wave reports
  • Wave eCommerce checkouts
  • Wave taxes

Wave Pricing

Wave comes with no monthly subscription or fees. However, users may incur processing charges for funds collected through the platform. The fee is 1% for bank payments and approximately 3 to 3.5% for credit payments. If you don’t make any sales, then you don’t owe Wave a single penny. Wave delivers great services at lower prices. Although some features are limited, the platform has an active invoicing functionality and great customer service.         

Wave Awards

Wave is an award-winning platform that has won numerous awards for its performance. The following are the awards received:   

  • Leader in accounting software award 2022
  • Leader in payments and invoicing software award 2021
  • Leader in payroll management software award 2021
  • Leader in accounting software award 2021
  • Leader in payroll management software award 2020
  • Leader in payments and invoicing software award 2020
  • Leader in accounting software award 2020
  • Leader in accounting software award 2017
  • Quality choice award
  • Trusted vendor award

Other achievements based on performance include the current score of 89/100 in the accounting category. 89/100 is based on user satisfaction and other relevant information on software performance.

The Bottom Line

Wave is an interface that is very easy to adapt, allowing the user to perform much simpler tasks efficiently. It is an ideal choice for small-business owners seeking free software with exceptional functionality. The platform is easy to use, especially for those with little or no accounting experience. You can use it to manage bookkeeping, accounting, and invoices in one place with internal integrations. It connects accounts so that the cash flow is indicated in the dashboard once you are logged in. You can download and categorize transactions automatically by connecting your bank and credit card accounts.