Best Invoice Software for Small Businesses Wave Financial

See our step-by-step guide on how to import bookkeeping data into Wave here. Transactions will appear in your bookkeeping automatically, and you’ll say goodbye to manual receipt waveapps entry. With the Pro Plan, automatically import, merge, and categorize your bank transactions.

Button-up your bookkeeping

Wave also offers a free app to help you manage your invoices on the go. With Wave Invoicing, you’ll be able to track, edit, send and pay invoices from any mobile device. In addition, Wave allows you to manage multiple businesses on one free account and uses double-entry accounting, which is ideal for accountants and tax time.

Once logged in, your main dashboard will show your cash flow, profit and loss, invoices, bills and other financial insights. Your customers can pay the invoices you send them instantly by credit card, secure bank payment (ACH/EFT), or Apple Pay. And by enabling Wave’s payments feature, you can accept credit cards and bank payments, and get paid out in as fast as 1-2 business days1.

While Wave is free to use, it doesn’t offer multiple plans to increase its functionality. It lacks some of the useful features you may find in other accounting software, such as project management, time tracking and inventory management. Wave allows you to search transactions, design accounting reports and reconcile data across other Wave products.

Switch between automatic and manual billing whenever you want. The fact that Wave lets users create and send unlimited invoices and receive payment straight from the invoices for free makes it perfect for freelancers. While Wave has a lot to offer when it comes to invoicing, know that it’s still slightly less automated than some competitors. This isn’t necessarily a deal-breaker, but it might require a bit more bookkeeping work.

Companies that want to combine project management tasks in their accounting software or are looking for software with a great mobile app that they can use on the go will probably want to look for other options. If you’re a startup, micro-business or sole proprietor who doesn’t want to invest in accounting software but needs to keep track of your finances, Wave Accounting is a great option. As long as you’re content with basic features and don’t see yourself expanding in the foreseeable future, you’ll find this completely free, easy-to-use software particularly appealing.

Manage your money like a boss

Many, or all, of the products featured on this page are from our advertising partners who compensate us when you take certain actions on our website or click to take an action on their website. Here is a list of our partners and here’s how we make money. Create invoices whenever and wherever you want with Wave’s free app for iOS and Android. “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.” To get the best possible experience please use the latest version of Chrome, Firefox, Safari, or Microsoft Edge to view this website. The developer, Wave Financial Inc, indicated that the app’s privacy practices may include handling of data as described below.

Electronic invoices are created with online invoicing software or other cloud-based services, which makes it easy to automate the invoicing process. Electronic invoices also provide small business owners with professional-looking digital invoices that their customers can pay easily online through a system like Wave’s online payments. The drawback of just offering one plan is that it limits room for growth.

Is invoicing software secure?

While its limitations do not make it an ideal solution for every business, Wave is a particularly appealing option for freelancers who are just starting out. Wave users can accept credit card payments over the phone, online or in person. Add a “Pay Now” button on invoices and you will automatically be able to receive Apple Pay, credit card payments and bank transfers. Money is typically deposited into accounts within two business days and all payments are recorded to have you set when tax season rolls around. Note that you will pay credit card processing fees on all applicable transactions. In addition, Wave’s mobile app lets you send invoices and track payments on the go.

• 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.
• Wave Accounting can be a great option if you run a very small service-based business or don’t need more advanced features that alternatives might offer.
• Wave Accounting’s Starter plan is free and its Pro plan, which includes more features, is $16 per month.
• You’ll need to answer a few questions about your business and provide us with a little more information about yourself in order to get approved to accept online payments.
• Every invoice paid means more revenue coming into your business.

Access easy-to-understand financial reports, like profit and loss and cash flow statements.

However, like most products with free plans, Wave has its limitations, especially compared to more scalable small-business accounting software. Although Wave’s paid plan offers additional features, it’s still missing some more advanced capabilities, like built-in inventory tracking and audit trails, that growing businesses might need. While Wave provides unlimited invoices, it might be best to look elsewhere if you are looking for more robust account software. Both QuickBooks and Invoice2go offer more comprehensive features like time tracking to easily record billable hours and export them into an invoice.

Invoicing Templates

The best accounting software received top marks when evaluated across 10 categories and more than 30 subcategories. Learn more about how we rate small-business accounting software. Wave Accounting can be a great option if you run a very small service-based business or don’t need more advanced features that alternatives might offer.

• Only integrates with in-house apps, like Wave Payments and Wave Payroll; does not integrate with card readers for in-person payments.
• Digital invoicing empowers your small business by automating invoice processing and saving time by tracking key invoice data like upcoming and outstanding invoices.
• Small businesses that plan to hire employees at some point might need to change accounting software systems in the future or upgrade to Wave Payroll.
• For information on credit card rates, visit Pricing for details.
• Users are not able to assign estimates to projects or track income and expenses by project.

For information on credit card rates, visit Pricing for details. This app is super helpful, the main issue I have while using it is the lag. When inputting information the character count for it is super slow/delayed to where it forces me to stay on a certain page until it registers that information has been inputted. After inputting information and trying to click done at the bottom it will not register unless I swipe the keyboard away.

Then answer questions from a drop-down menu about the direction you want to concentrate on—invoicing, accounting or payroll—and you are directed to link financial accounts. Wave is a free invoicing software that helps small businesses keep track of their bookkeeping needs from one location. It is a user-friendly, intuitive platform even for those with no prior accounting experience. As a free service, it is a good option for freelancers, entrepreneurs and small business owners who would like to keep their overhead low. Wave Invoicing is ideal for freelancers, entrepreneurs or small businesses. The fact that it is free makes it a great option for those just starting out or those who want to keep their overhead as low as possible.

While it does offer a free iOS and Android app, the app is limited in the number of features and functions. You can invite your accountants, bookkeepers or other business partners to Wave via email and designate their user roles. They can receive “editor permissions” and access accounting and reports as well as purchases easily. Also, Wave Accounting only offers self-serve customer support.