QuickBooks Online limits user numbers by plan (its cheapest plan, QuickBooks Simple Start, includes just three users). And FreshBooks doesn’t limit your user number, but it does charge an extra $10 a month per user—which adds up fast. Wave Accounting is the best free accounting software solution for freelancers, solopreneurs, and small-business owners alike. Wave allows you to search transactions, design accounting reports and reconcile data across other Wave products. Plus, you can calculate sales tax automatically, customize payment terms and enjoy access to easy-to-understand cash flow insights. It also features a well-laid-out, clutter-free dashboard with individual tabs for sales, purchases, accounting, banking, payroll and reports.
By providing feedback on how we can improve, you can earn gift cards and get early access to new features. One of the most helpful features of Wave is its tax filing feature. Wave now integrates directly with H&R Block to help you file your taxes. When it comes to integrations, Wave is pretty limited, although it does support a much-needed Zapier integration, which connects Wave with 1,000+ add-ons. The integrations Wave directly connects with are PayPal, Etsy, startup industry expertise in accounting and cfo services and Shoeboxed. You can also use the Checkouts feature to create buttons on websites, such as Wix, Squarespace, and WordPress.
Data Used to Track You
Join the thousands of people like you already growing their businesses and knowledge with our team of experts. We deliver timely updates, interesting insights, and exclusive promos to your inbox. QuickBooks Online’s detailed reporting and transaction tracking is ideal for growing businesses. Support for non-paying users is limited to the chatbot and self-service Help Center. “Wave invoicing 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.”
Make accounting easy.
Wave is PCI Level-1 certified for handling bill and hold agreement example credit card and bank account information. Have an eye on the big picture so you can make better business decisions. Our robust small business accounting reports are easy to use and show month-to-month or year-to-year comparisons so you can easily identify cash flow trends. We provide different levels of support, depending on the plan and/or the add-on features you choose.
Inventory
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 Accounting also uses double-entry accounting, which is much more accurate than basic single-entry accounting. Most accounting software use the double-entry system, though FreshBooks’ cheapest plan is a notable exception.
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. You can upgrade to Pro and add features as you need them, like bank account connections and real-time transaction updates, and you can easily make changes as your requirements change. If Wave isn’t a good fit for you, read through our article on the year’s best free accounting software. The article kicks off with Wave, but it includes reviews for nine other free bookkeeping programs that you might prefer.
- Wave’s smart dashboard efficiently organizes your income, expenses, payments, and invoices for fast and accurate tax preparation.
- Additionally, your cost may rise with add-ons like payroll, payment processing, or professional bookkeeping services.
- Zoho Books offers a robust free plan, along with a range of paid plans that feature workflow automation.
- The best accounting software received top marks when evaluated across 10 categories and more than 30 subcategories.
Is Wave Right for You or Your Business?
If you have a question or issue, you can browse the help center or reach out to Mave, the automated chatbot. If you do want live support, you’ll need to invest in an Advisor or paid service. When you reconcile your books, you’ll navigate to the “Reconciliation” tab within the Accounting menu.
Finally, Wave’s billing, payment acceptance, and invoicing features all work together to ensure you get paid on time. In other words, Wave has many of the invoicing perks you get with is rent expense a period cost or a product cost invoice-heavy software like FreshBooks, but at no cost. Of course, if you freelance, you don’t need to worry about running payroll either now or in the future.