It’s hard to beat free accounting software, especially if you’re running a small business on a budget. Wave’s free plan offers a decent number of features, like unlimited invoices, that are not always included with other free accounting software options, let alone paid accounting software plans. It also complies with accounting standards and uses double-entry accounting, which can help ensure accuracy.
Unlimited accounting, starting at free.
- Visit your dashboard or use your invoicing or accounting features, and click the peach “Upgrade now” button.
- Once logged in, your main dashboard will show your cash flow, profit and loss, invoices, bills and other financial insights.
- Wave also offers paid products for payroll, coaching and mobile receipt scanning.
- For example, QuickBooks Online doesn’t have a free plan, but offers four paid plans, each with additional features, making it a great choice for scalability.
- The financial management software is user-friendly and equipped with all the basics, including income and expense tracking, invoicing and reporting.
Create beautiful invoices, accept online payments, and make accounting easy—all in one place. Our unbiased reviews and content are supported in part by affiliate partnerships, and we adhere to strict guidelines to preserve editorial integrity. The editorial content on this page is not provided by any of the companies mentioned and has not been reviewed, approved or otherwise endorsed by any of these entities.
Button-up your bookkeeping
While the free plan still exists, a paid plan is now available. Xero lets you add unlimited users in all plan tiers and, similar to QuickBooks Online, can grow alongside your business. When you reconcile your books, you’ll navigate to the “Reconciliation” tab within the Accounting menu.
Manage your money like a boss.
Email exported financial statements and reports to your accountant directly from Wave. Or even better, with our Pro Plan, safely hand off your books to your accountant by adding them as a limited user. Since Wave uses accountant-approved, real double entry accounting, your accountant will have all the information they need.
In addition to its accounting software, Wave offers paid services, including Wave Payments, Wave Payroll and Wave Advisors for bookkeeping support and accounting coaching. Wave Accounting is ideal for micro businesses with corporation advantages and disadvantages fewer than 10 employees, contractors, freelancers and other service-based businesses on a budget. The financial management software is user-friendly and equipped with all the basics, including income and expense tracking, invoicing and reporting.
Automate the most tedious parts of bookkeeping accounts payable days formula and get more time for what you love. NerdWallet does not receive compensation for any reviews.
Project Management
And even better, get rid of late payments with Wave’s Pro Plan features like automated reminders and recurring invoices. This free, easy-to-use accounting software is great for expense definition small businesses, especially for eCommerce, but lacks in project management, budgeting, and inventory tracking. The company also offers good customer support options, including an accounting guide, to help you learn to balance the books and use the software.
Servers are housed under physical and electronic protection. Wave is PCI Level-1 certified for handling credit card and bank account information. Check out our comparisons among these top three accounting software options to find the right fit for your business. Wave offers a decent number of support resources to customers, but the response times can be slow. Furthermore, customers using the free Starter plan will have limited support options.