Wave
Overview
Wave is a Canadian company that provides financial services and software for small businesses. Wave is headquartered in the East Bayfront neighborhood in Toronto, Canada.
The Wave app (Wave Financial) is a free, cloud-based accounting software for small businesses, freelancers, and creators, offering tools to send invoices, track income/expenses (with receipt scanning), manage payments, and generate financial reports. While core features are free, it charges fees for payment processing (credit cards, bank transfers) and offers optional paid services like payroll. It's known for its user-friendly interface, helping businesses stay tax-ready with features like bank syncing and customizable reports.
Benefits
Core Benefits (Free Features)
- Free accounting: Offers double-entry accounting, unlimited invoicing, and expense management at no cost, ideal for startups and freelancers.
- Automated Bookkeeping: Automatically syncs bank transactions and helps categorize expenses, reducing manual data entry.
- Professional Invoicing: Create, send, and track custom invoices, with notifications when opened, and accept online payments via card or bank transfer.
- Expense & Receipt Tracking: Capture receipts via phone, link them to transactions, and keep digital records organized.
- Mobile Accessibility: Manage finances, send invoices, and track expenses on the go with dedicated iOS and Android apps.
Advanced & Paid Benefits (Wave Pro/Payroll)
- Tax-Ready Reporting: Generates crucial reports (P&L, Balance Sheet) to simplify tax preparation.
- Streamlined Payroll: Handles employee/contractor payments, tax filings, and deductions (available in select regions).
- Cashflow Management: Tools to track income/expenses, send payment reminders, and plan finances.
- Data Security: Secure cloud storage with encryption for peace of mind.
Key Features
- ✓ Expense Tracking
- ✓ Invoicing
- ✓ Bank Reconciliation
- ✓ Receipt Scanning
- ✓ Financial Reporting
- ✓ Payroll Management
- ✓ Multi Currency Support
- ✓ Sales Tax Management
- ✓ Customer Management
- ✓ Vendor Management
- ✓ Estimates
- ✓ Recurring Billing
- ✓ Payment Processing
- ✓ Mobile App
- ✓ Dashboard
- ✓ Cash Flow Management
- ✓ Accountant Access
- ✓ Data Import / Export
- ✓ Invoicing Customized
- ✓ Integrations
- ✓ Bank Integration
- ✓ Human Resources (HR) & Payroll
- ✓ Inventory Management
- ✓ Multi User Login & Role based Access Control
- ✓ Product Database
- ✓ Production Management
- ✓ Project Management
- ✓ Taxation Management
- ✓ Accounts Payable
- ✓ Accounts Receivable
- ✓ Fund Accounting
- ✓ General Ledger
- ✓ Cash Management
- ✓ Accounting Integration
- ✓ Tax Management
- ✓ Accrual Accounting
- ✓ Partnership Accounting
- ✓ Collections
- ✓ Trust Accounting
- ✓ Project Accounting
- ✓ CPA Firms
- ✓ Online Accounting
- ✓ Financial Accounting
- ✓ Accounting Management
- ✓ Spend Management
- ✓ Revenue Management
Details
Best For
Deployment
Platforms
Industries
Support & Training
Support Options
Training Resources
Media
Frequently Asked Questions
You can sign up for Wave for free on a web browser and on the Wave mobile app. When signing up for Wave, you have the choice between the Starter Plan and the Pro Plan. The Starter Plan is free and includes basic accounting and invoicing features. You can add paid features such as accepting online payments, automatic receipt scanning, and payroll. The Pro Plan is a paid subscription and includes all the features of the Starter Plan, as well as receipt scanning, auto-import bank transactions, automatic transaction merging and categorization, and more. Learn more about Pro Plan features. If your business needs change, you can switch plans, cancel, or reactivate a subscription at any time.
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