wave accounting

🌊 What is Wave Accounting?

Wave Accounting is a free, cloud-based accounting software designed primarily for small businesses, freelancers, and sole proprietors. It provides essential financial tools such as invoicing, expense tracking, accounting, and receipt scanning—all within an easy-to-use platform.

✅ Key Features of Wave Accounting:
Feature Description
Free Accounting Software Core accounting functions are completely free.
Invoicing Create and send professional invoices; customize logos and colors.
Expense Tracking Connect bank accounts and credit cards to automatically import transactions.
Receipt Scanning Use the mobile app to scan receipts and attach them to transactions.
Reports Generates financial reports like Income Statement, Balance Sheet, and Cash Flow.
Payments (optional) Accept credit card and bank payments via Wave (for a fee).
Payroll (paid add-on) Manage employee and contractor payments in supported regions.
Multi-Currency Support Useful for businesses dealing with international clients.
💸 Is Wave Really Free?

✔️ 100% Free: Accounting, invoicing, and receipt scanning.

💳 Paid Services:

Payment Processing: Small fee per transaction if you choose to accept online payments.

Payroll: Available as a paid add-on in the U.S. and Canada.

🧾 Who Should Use Wave?

Best for:

Freelancers

Self-employed professionals

Small businesses with simple accounting needs

Startups and home-based businesses

Not ideal for:

Medium to large businesses

Inventory-heavy businesses

Businesses requiring advanced features like job costing or complex automation

📱 Platforms:

Web-based (accessible via browser)

Mobile apps for:

Wave Invoicing

Wave Receipts

📊 Popular Alternatives to Wave:
Software Best For Free Plan
QuickBooks Small to medium businesses ❌
Zoho Books Startups & growing businesses ✅ (Limited)
Xero Scalable businesses ❌
FreshBooks Freelancers & service providers ❌
🔐 Security:

Uses 256-bit encryption (same as banks)

Regular backups

PCI-DSS compliant for payment processing