User Reviews Overview

Feature Ratings

Ease-of-use

4.5 / 5

Value for Money

4.5 / 5

Customer Support

4.0 / 5

Functionality

4.0 / 5

Ratings Breakdown

5 stars

(634)

634

4 stars

(288)

288

3 stars

(60)

60

2 stars

(22)

22

1 stars

(33)

33

  • Pros

  • "Accounting by Wave is super easy to navigate and use. It helps with bookkeeping and makes my job a little easier."

  • "It is so super easy to use, integrates with my Stripe account so clients can easily pay by credit card and even better - it's free."

  • "Love using wave to track my spending and budgeting through their software. When I make payments with my credit card, I'm able to go in and categorize everything super easily."

  • Cons

  • "The customer service is useless. They say the transaction issue is due to their third party and that they have no control over this."

  • "It sometimes would get messed up. Transactions were doubled and it wasn’t always in sync with my accounts which made my accountant nervous."

  • "They trapped 10k+ by inserting a payment link into invoices and when the customer pays they give you every excuse in the book to hold the money."

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May 2021

Kari from TogetHR Consulting

Verified Reviewer

Company Size: 2-10 employees

Industry: Human Resources

Time Used: More than 2 years

Review Source: Capterra


Ease-of-use

5.0

Value for money

5.0

Customer support

5.0

Functionality

5.0

May 2021

I LOVE Wave!

Overall, I highly recommend Wave if you are running a business and want low costs and an easy way to manage your finances. My business is simple and Wave makes it so much easier for me to stay on top of things and know where I need to focus my energy.

Pros

I have been using Wave since around 2015 and my books were a mess when I first began because I was doing them (not my strength) and once I heard about Wave's bookkeeping services, I couldn't believe how affordable they were. It's super easy to set up and use, run reports and know about your financials. I tried switching to QB for about 1 month and hated it, so I switched back. Lesson learned and I'm sticking around!

Cons

One thing I had to get used to was because I had my bank account connected and until the month is reconciled, when a invoice is paid I mark it paid and then the 'payment' comes in again from banking. It was easy to catch and now my Wave bookkeeper keeps all that reconciled. Thank you!

Reasons for Choosing Wave Accounting

I chose Wave because of a family recommendation and how easy it was for me to set up an account and get things moving. The others may have changed, but I still recommend Wave to anyone who is looking for an easy & affordable way to get their business going.

March 2021

James from ProHub Consult

Verified Reviewer

Company Size: 1 employee

Industry: Research

Time Used: More than 2 years

Review Source: Capterra


Ease-of-use

5.0

Value for money

5.0

Customer support

4.0

Functionality

5.0

March 2021

Best FREE Accounting and Invoicing App for Small businesses/Freelancers

WAVE is the best inexpensive mobile and cloud accounting software out there. I doubt if there is any accounting and invoicing software that can provide all of WAVE's features for free!

Pros

I use Wave Mobile App for my business' finance, for managing my income and expenses. I use wave for billing and creating invoices for my clients. After using Wave for over 2 years now, I can say it works quite well. It allows me to create client contacts, which the app automatically uses to create client record books. The interface is simple and easy to get along with. The fingerprint unlock integration is one of my best features because I am able to sign in to the app without trying hard to remember passwords or pins. Above all, I think the best thing about Wave is, you get most of the relevant features needed for FREE!

Cons

There are few hitches I encounter using wave. I am not able to write off a partly paid bill as bad debt if all attempts to reclaim the payment from my clients fail. Sometimes, people pay about 70% and fail to pay for the rest. In order to close the invoice, I will have to mark it as completely paid and doing that can overstate or affect my financial records and reports within Wave.

Reasons for Switching to Wave Accounting

I always had problems with logging into my account. Also, the invoices I created on Invoicely had limited edit access. So when I found Wave, I decided to move completely.

June 2015

Josh from Leo Burnett

Verified Reviewer

Company Size: 5,001-10,000 employees

Industry: Marketing and Advertising

Time Used: Free Trial

Review Source: GetApp


June 2015

I want to like Wave, and have been trying for years

..., but I need them to help me figure it out. I have a full-time salaried job as a copywriter and a few self-employment careers, like freelance writing, voice acting. I've always found doing my taxes to be a nightmare. I'd spend months stressing about it and trying to calculate income and expenses. Originally, I was adding up all my expenses with a calculator. When I discovered I could put things into Excel, it got a bit easier add numbers. And then about 4 or 5 years ago, I started using a new accountant, and he suggested Wave to me. I was excited to hear that it would important my bank and credit card statements, and that I could then quickly and easily categorize everything. I was sure this would save me so much time and stress. But I found Wave very hard to use. I wasn't sure how to create my own categories. I could never tell if my statements had been uploaded completely, and I would often wind up with duplicate transactions. And I still can't find a way to view the categories after I've allocated transactions to them. I tweeted to Wave a lot, and they were nice enough to send one their IT guys to sit with me in a coffee shop for a few hours. He watched as I tried to do things and he gave me help. He said this was useful to him, to see what people might be having trouble with. And, I figured I would then be ok. But I'm still having a lot of trouble. I'm not asking a lot. All I want to be able to do is import my bank statements and credit card statements, and categorize all the transactions. And being able to invoice people would be nice too. And it seems that his app has those features. But I still find it very complicated. I don't understand the categories. I can't find where the totals are. And lately, my mbna Mastercard has been saying it can't link to Wave. So tonight, I went in and started deleting all the transactions from 2014, hoping that I could start fresh and be sure that everything was imported correctly. But now I see that mbna won't give me the data files for before August (that's an mbna problem, not Wave) and I can't undelete what I deleted. And there's no way to get support without paying for it. But I don't want to pay until I'm confident the site can do the simple things I need it to do. Anyway, I'd love to support a local Toronto company. And I appreciate that someone from the company sat with me in person. And I see people reviewing positively, saying it makes a freelancers life easy. Someone even tweeted today that Wave makes doing accounting fun. But I just don't understand how people are able to use this site. If someone from the company, or one of the satisfied customers, could explain to me how to use this site properly, I'd love to be converted. But at this point, I fear I need to cut my loses and simplify my life by paying for some other software. I just want to be able to file my taxes and concentrate on my creative projects.

Pros

It seems like it offers the ability to import credit card and bank statements, categorize expenses, and invoice people. Those are the features I want. But...

Cons

...I haven't been able to figure out how to smoothly and accurately use the features I want. This app is making my life harder than it was when I just manually typed in all my expenses into a Microsoft Word and added them up with a calculator.

Response from Wave Accounting Inc.

Replied September 2015

Thanks for sharing with us your experience. Firstly, thanks for being such a valuable customer over the years. We especially appreciate your patience trying to make WaveApps work for your financials. We have available Premium Support for customers who are getting started with Wave. We suggest those looking to best learn work arounds, and setting up proper customizations subscribe to our chat and phone support (unlimited - 9am-5pm EDT M-F) - $49 for three months. You can place a call and speak to one of our product specialists to help you work through your challenge. If you could reach out to me jdaly@waveapps.com. We'll try to match you with a member of our team to help troubleshoot since you have invested your valuable time into Wave to manage your business financials. Jennifer from Wave

March 2021

User Profile Picture

Proinsias from Frans Digital and Photography Services

Verified Reviewer

Company Size: 1 employee

Industry: Online Media

Time Used: More than 2 years

Review Source: Capterra


Ease-of-use

4.0

Value for money

5.0

Customer support

4.0

Functionality

4.0

March 2021

Wave Accounting is great for a Startup Business

I was very happy with the invoicing, payments, and the Design and functionality. I was able to search past transactions very easily. I did not pay for premium support, but the support that I recieve is excellent.

Pros

It was free to use the accounting services I was able to invoice customers using Stripe as a Payment Gateway which was great value The Design and User Interface is very professional compared to others that I have seen The Payment Gateway was also very professional when sent to customers, it added to the credibility of the business

Cons

My particular Bank would not allow me to sync my account with Wave, but that was a local issue not a general issue. I was very very happy with the invoicing. but I always felt that the ledger views were not as robust.

Reasons for Choosing Wave Accounting

It was really cost, efficiency, and user interface. It looked good from the customer side and that was important for me.

Reasons for Switching to Wave Accounting

The functionality that I really needed was free and I was very happy with that.

April 2021

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James from The Consulting Launchpad

Verified Reviewer

Company Size: 1 employee

Industry: Professional Training & Coaching

Time Used: More than 2 years

Review Source: Capterra


Ease-of-use

5.0

Value for money

5.0

Customer support

5.0

Functionality

5.0

April 2021

My go-to invoicing and accounting tool for my small business!

Nothing but amazing! I'm so glad I switched from Square for my invoice and payment processing.

Pros

It is so easy to use, and customized specifically for small business owners. I absolutely LOVE the invoice feature - it's the primary feature that I use - and it just works so well. My completed payments rate is 100% and I believe is at least in part due to how easy the process is to view/pay invoices.

Cons

Sometimes I wish the payment speed was faster after a client makes a payment, but then they introduced instant deposits and I'm happy to pay the small fee to get my money faster!

Reasons for Choosing Wave Accounting

The UX is so much better, less complicated and I can't say enough how much I like that Wave is designed specifically for small business owners and what matters to them.

Reasons for Switching to Wave Accounting

Better fees, faster money and Wave is customized specifically for small business owners just like me.

June 2021

Jennifer from From PhD to Life

Verified Reviewer

Company Size: 1 employee

Industry: E-Learning

Time Used: More than 2 years

Review Source: Capterra


Ease-of-use

4.0

Value for money

5.0

Customer support

5.0

Functionality

5.0

June 2021

Free invoicing, billing, and accounting software with paid upgrade features

I like that I can do my own bookkeeping and light accounting and this keeps me relatively sane come tax time. I highly recommend Wave to anyone who's willing to learn at least a bit about accounting! With Wave Payments and Wave Payroll, the software works well for self-employed folks just getting started and will grow with them as they add to their team.

Pros

The cost is compelling -- free! -- but beyond that I find the software is advanced enough to do what I need without being utterly overwhelming like other options. I'm not accountant and there's only so much geeking out I want to do. I can send invoices, get paid, track all my expenses and payments, handle business AND personal finances from the same account, and it all works really well with my bank and integrates decently with Stripe via Zapier.

Cons

I'd love Wave Payments to allow for payments in more than one currency. I can invoice in USD and CAD (my main), but I can only accept online payments via Wave in CAD. No biggie.

Reasons for Choosing Wave Accounting

In addition to the cost, I always like supporting Canadian-owned businesses.

Reasons for Switching to Wave Accounting

FreshBooks pricing was too much for me, and at least back then, it didn't have the features I came to need as my business evolved. I used QB for a while for a different business and found it a complete beast. That might be great if you're an accountant but it wasn't for me. Big nope.

March 2021

Jeff from The Innovative Creative LLC

Verified Reviewer

Company Size: 2-10 employees

Industry: Marketing and Advertising

Time Used: More than 2 years

Review Source: Capterra


Ease-of-use

3.0

Value for money

5.0

Customer support

2.0

Functionality

4.0

March 2021

Great Invoicing and Payment platform, But Not for Full Bookkeeping & Financial Management

I take Wave for its good point and have since 2015, and excellent billing, invoicing and payment processing system. It has added value through its Wave Money expansion as well. I don't fault this system for not being a quality bookkeeping platform, it is what it is and I still recommend it to clients and colleagues all the time.

Pros

This system has a really full featured billing and invoicing system that I have used for years and would recommend to any small business.

Cons

This system is not cut out for bookkeeping. Innovation attempts create confusion and many basic reporting features are either excluded or lost value because of the report structure and lack of customization.

Reasons for Choosing Wave Accounting

Waveapps is the best solution, both because it really does offer a great billing and invoicing system, but its payment platform has only gotten better over the years.

Reasons for Switching to Wave Accounting

Many of my clients had trouble making payments with Paypal and the invoicing with Paypal and Square were less than ideal.

April 2021

User Profile Picture

Olakunle from Olakunle Oladehin

Verified Reviewer

Company Size: 2-10 employees

Industry: Information Technology and Services

Time Used: Less than 2 years

Review Source: Capterra


Ease-of-use

4.0

Functionality

5.0

April 2021

Best features for a free application

Wave has saved me many headaches as a small business/freelancer especially in getting my finances together for taxes. It's easy to use their receipt app to take a photo or forward a receipt to have it auto-capture. And the ability to integrate through tools like Zapier makes automating invoices a breeze. There is constant development on the interface and other offerings, so I feel that it's worth sticking with the journey knowing things are only getting better.

Pros

Wave doesn't feel like a free product. The thoughtful interface, bank/credit card syncing, receipt processing, and reporting gives you the feel of a premium paid accounting application. And to know that Wave also has paid professional help when it comes to taxes or other issues makes it an easy one-stop-shop for smaller businesses.

Cons

The transaction importing process is a bit clunky if you aren't using bank sync. There are limited functions that you can do when mass editing transactions that you don't initially think about. But when you want to perform something that seems intuitive you can't. So you shouldn't expect the power of a Quickbooks at a free price, so it's to be expected.

Reasons for Choosing Wave Accounting

Wave is a powerful tool that checked all the boxes I needed for free.

February 2021

Matthew from Self

Verified Reviewer

Company Size: 1 employee

Industry: Real Estate

Time Used: More than 2 years

Review Source: GetApp


Ease-of-use

4.0

Value for money

5.0

Customer support

4.0

Functionality

5.0

February 2021

Innovative and FREE accounting software

I use this for managing my rental properties. The core product is free. If I continue to scale my business, I can pay to utilize some of the more focused products to support continued growth. I really enjoy the product and would recommend.

Pros

WaveApps is very easy to deploy. Chart of accounts setup was very simple (it is from a recommended template or DIY), and AP/AR/GL are all extremely easy to understand and utilize. They continue to deploy all-in-one solutions (bank accounts, payroll, etc), which is fantastic. Most of these add-on solutions are not free, but the free 'pure accounting' program allows you to deploy quickly and affordably and then scale out your business as you want.

Cons

Managing multiple entities is inefficient. Very limited functionality around assigning cost elements or cost centers.

Reasons for Choosing Wave Accounting

Wave is free for the core product. My business is very small and does not need a more robust solution that cost money.

May 2021

AL from MEETING & EVENT LOGISTICS

Company Size: 2-10 employees

Industry: Events Services

Time Used: More than 2 years

Review Source: Capterra


Ease-of-use

4.0

Value for money

5.0

Customer support

4.0

Functionality

4.0

May 2021

Still The Best Free Accounting Software!

I needed a low-cost or free accounting software to bill my customers and keep track of my expenses. Wave exceeds every other accounting I have tried and is very easy to use.

Pros

Wave is amazing! I don't want to say this but they should probably charge for their software. It's fully featured and has all the functions a small business needs to keep track of their day-to-day business needs.

Cons

There's hardly anything to not like with Wave. Some of their reporting could be more detailed but other than that I cannot think of anything else.

Reasons for Switching to Wave Accounting

Quickbooks is expensive and more advanced than what I needed.

January 2021

Cheikh from Cheikh Beye Okdakar

Company Size: 1 employee

Industry: Computer Software

Time Used: Less than 12 months

Review Source: Capterra


Ease-of-use

5.0

Value for money

5.0

Customer support

4.0

Functionality

5.0

January 2021

Good accounting software

The speed with which the credit cards were processed automatically saved me a lot of time.

Pros

This is a very complete software that allows you to build quotes and convert them into invoices in a fraction of a second without much effort. Wave is excellent especially when it comes to credit card processing which is done automatically with a very low 1% fee. It is very easy to set up and use and the cost is low or even free. Personally, I recommend buying this package because it comes with support: from setting up your account to the specific categories for your company . The other advantage of Wave is the presence of a number of applications to send invoices when you are away from your workplace. So even when you're away from home you can download them. In this case, all you have to do is take the photo on the spot.

Cons

The problem on the Wave software is not so numerous, but we notice that it is impossible to close a period correctly. All members who are able to make transactions have the possibility to change or add entries from the previous year. For me an administrator must have the ability to close a period so that no changes are made. User growth is also very limited. The lack of audit trails for transaction entries is also a case of imperfection at Wave . Admittedly, it is possible to generate transactions, then generate reports, then cancel the transactions, etc. But there is no proof that these changes are made yes or no, because the software is unable to remember its categorizations. The keyword search function is absent from Wave in the transactions section and sometimes it makes us lose a lot of time.

Reasons for Choosing Wave Accounting

Because Wave is free and easy to use accounting software

Reasons for Switching to Wave Accounting

To test another software

November 2020

Michael from Magness Piano Services

Company Size: 1 employee

Industry: Music

Time Used: Less than 2 years

Review Source


Ease-of-use

4.0

Value for money

5.0

Customer support

3.0

Functionality

4.0

November 2020

Wave Was/Is My Go To From QB Online

My overall experience has been great! I have to do some thinking/remembering at tax time to separate the double entries of income. I show an invoice paid by check WAVE shows that income on my account. I go to the bank and deposit, there is that check again. For the total amount of money saved, around $450-500, I will put up with it.

Pros

It is FREE in the cloud, works on ALL platforms Windows 7,10, Android, iphones. Accepts all credit cards including Amex for 2.9% I am saving $420+ yearly by not having QB, I don't have to print invoices. Since WAVE is in the cloud I email my invoices and receipts.

Cons

I wish it had more storage of customer service that has been performed in the past but I suspect that would require some expense. It only had 3 invoice templates and there wasn't much customization on those. You can't compound taxes on your invoices, let me rephrase, you can compound 1 tax but no more. Since my only taxes are State and County I found it best to compound none for fear of forgetting which one I had compounded

Reasons for Choosing Wave Accounting

Wave had a more complete suite of the tools I needed that were familiar to me from my experience with Quickbooks

Reasons for Switching to Wave Accounting

Quickbooks Online wasn't as good as the desktop version but as long as Windows 10 is still under construction I won't chance having another desktop version made unusable due to another Windows 10 "update". I don't need to be concerned about it anymore now that I have WAVE!

August 2020

Brooke from Digital Entity Design

Company Size: 1 employee

Industry: Design

Time Used: More than 2 years

Review Source: Capterra


Ease-of-use

5.0

Value for money

5.0

Customer support

4.0

Functionality

5.0

August 2020

LOVE LOVE LOVE

Wave no longer integrates with CapitalOne Spark Business Checking & Savings. CapitalOne is going through some changes so I don't blame Wave too much but manually uploading bank statements every month is a hassle. Though I love Spark, I'm hopefully that Wave's banking that is coming soon will be a good future solution. I love Wave for everything else. It's the most rounded and affordable solution for my small business finances.

Pros

It's everything I need in one place. As a small business, Wave is the best solution for me. I can invoice my clients for free, and easily keep my finances up-to-date making tax season worry free.

Cons

Wave no longer integrates with CapitalOne Spark Business accounts, so I have to manually upload two bank statements every month into Wave; One for my checking and one for my savings account, both of which are Spark.

Reasons for Switching to Wave Accounting

Quickbooks is too expensive and more difficult to use. Wave is a miracle.

May 2020

Sutra from Creative Travel & Events, LLC

Company Size: 2-10 employees

Industry: Leisure, Travel & Tourism

Time Used: More than 2 years

Review Source


Ease-of-use

4.0

Value for money

5.0

Customer support

4.0

Functionality

3.0

May 2020

Excellent for the start-up to small company!

So far it has been a good experience overall. I haven’t had any issues. I haven’t had very much interaction with customer service other than the initial consultation Coach and the vetting process situation.

Pros

Love this product because of the cost! Free! So many great tools that it offers to include invoicing. You can create all of your own products and services and include your terms & Conditions. Clients can pay directly from the invoice. You can get paid the same day if you attach your business card to your account. It has a payroll feature as well for an additional charge. I love the fact that the reporting is so simple and easy to read. I would highly recommend purchasing this set up package. It comes with consultations and assistance to work through all the process of setting up your account and different categories specific to your business. It was definitely worth the extra money spent. I also like the fact that there are apps available to send invoices if you are away from the office. Also, you can upload receipts directly from wherever you are by simply taking a picture and categorizing it on the spot. No more having to deal with Receipts in the shoebox LOL.

Cons

On the Invoicing I wish there was an option to add tipping. Our clients like to add a tips for our service and while Square offers this feature, Wave does not. There was a weird vetting process that nobody told me about and at first I thought it was a scam and I didn’t reply. But then I confirmed with the consultant I had been working with and they verified that this was in fact something that I had to go through. It seemed kind of sketchy at first, but it had validity with regards to the financial process.

Reasons for Switching to Wave Accounting

We made the switch to cut down on cost so that we add to our marketing budget.

January 2020

Suzanne from Suzanne Rushton Photography

Verified Reviewer

Company Size: 1 employee

Industry: Photography

Time Used: More than 2 years

Review Source: GetApp


Ease-of-use

2.0

Value for money

3.0

Customer support

3.0

Functionality

3.0

January 2020

Wave error messed up my entire system and they want to charge me $3000 to fix it

It was good while it lasted, before their system made my data unusable. They really tried to be helpful, I chatted with several friendly people online, all of whom were unable to resolve my issues. They were unable to refer me to a WaveApps specialist in my area. Ultimately their solution was to offer me one of their bookkeepers at a cost of $3000 to fix the problem they created. No thanks.

Pros

It was wonderfully easy to use, the invoices looked professional and payment processing features were handy.

Cons

TLDR: Major syncing, reconciling and support issues Two of my accounts synced twice (so I had four accounts in Wave where there should have been two) and they were unable to fix this. Their suggested fixes did not work. They have chat and email support but no phone support and even though they logged in as an admin they were unable to fix this problem. A recent update to their system caused my entire past four years of records to be unreconciled, and the only fix was to go back to the beginning of time and compare each transaction ever made. They offered me a bookkeeper to do this for me for $269/month for a minimum of 12 months, despite my being very diligent about keeping my account up to date for the past four years. I have switched to another system now.

Reasons for Choosing Wave Accounting

Essentially an acquaintance was using waveapps and it looked like it would be great.

Reasons for Switching to Wave Accounting

I wanted to be able to send invoices and have everything be tracked automatically.

January 2020

Anonymous

Verified Reviewer

Company Size: 11-50 employees

Time Used: Less than 2 years

Review Source: Capterra


Ease-of-use

4.0

Value for money

5.0

Customer support

3.0

Functionality

5.0

January 2020

Great Free Accounting Tool

We use it for multiple businesses and a non-profit as we are a small cluster of social enterprises that work hand in hand with each other. We are really enjoying working with this software and it has helped us tremedously, all while not costing us a penny!

Pros

On the positive side, this software's functionality is almost up to par with other options that cost a lot of money. Wave is free and for that price what they offer is unbeatable. It is a fully featured accouting software, as it is a web app, it means multiple people can use it simultaniously and it also works great for a virtual team. I like that it is made with non-accountants in mind. For example, when entering transactions there are "Accounts" - but these are only Accounts as a nun-accountant will understand: Cash, Bank, Owners Investment etc. - everything else is called "Categories". This makes it easier for someone not too versed in finances to understand - but behind the scenes Categories are Accounts, just like they always were (e.g. Office Supply Expense Account) - small and simple changes like this make it very easy to use even for a financial analphabet. Two mobile apps compliment the accounting software, one for writing invoices on the go, the other for scanning and (auto)recording expense receipts.

Cons

On the downside, and this can be a big one, you are not able to properly close a period. This means anyone with permission to enter transactions can go and change entries from last year, or add some. This can make things really messy and I hope they add a function where an administrator can close a period such as a month, so that no more changes can be made. Further, you can add other users, but the type of users are quite limited. I wish this could be controlled on a more granular level, e.g. there is the option to add a 'viewer' who cannot edit anything. The next level is somoene who can enter all types of transactions (you can turn of access to bank entries and writing invoices) but it would be nice if there was one where I can let someone add receipts with the mobile app but not do anything else.

December 2019

Corinne from Corinne Pomroy RMT

Company Size: 1 employee

Industry: Health, Wellness and Fitness

Time Used: More than 2 years

Review Source: Capterra


Ease-of-use

5.0

Value for money

5.0

Customer support

5.0

Functionality

4.0

December 2019

Satisfied daily user since 2015

I'm a sole proprietor of a service-based clinic, and I sell a very small amount of retail product (less than $500 per year). I use Wave to generate customer invoices, track payments, organize expense receipts, calculate taxes payable, and run reports. The app does allow for a "Personal" account which I do not currently use to my advantage but I plan to incorporate that into daily use next year to help keep better track of my overall financial situation.

Pros

Wave is free to use which makes it excellent for my small business. It has an app to facilitate easy upload of receipts for my expenses. Being cloud-based enables me to access my accounting from my clinic or my home office (or on the go) with ease in real-time. It syncs with my RBC account to import my transactions and is very user-friendly. Customer service is friendly and responsive.

Cons

My complaints about this software are very minor. There is an option to "save and send" invoices by email with a single mouse click, but to print the invoices takes three clicks. My other complaint is that there is no simple Customer Statement to print. The Customer Statement that is available shows every transaction posted, so for most of my clients there will be three entries for each visit to my clinic; one invoice date, one copay payment, and one insurance payment applied. I would prefer to be able to generate this statement showing a list which includes ONLY the invoice date and total amount charged. They are very minor complaints. I am quite pleased with this product.

Reasons for Choosing Wave Accounting

Wave was free, and had a nice-looking layout. I was already disappointed with Quick Books and looking to move on from that. I did consider Sage 50 because I was quite familiar with that from working in a clinic which used it, however, it was very expensive and like Quick Books had a lot of features I didn't need.

Reasons for Switching to Wave Accounting

Quick books was not user-friendly and was heavily populated with features I didn't need but couldn't turn off, and I was only able to access it on a single computer. When it was time for me to pay for a new version I looked elsewhere for software that I could easily access from home.

December 2019

Anonymous

Verified Reviewer

Company Size: 1 employee

Time Used: Less than 12 months

Review Source: Capterra


Ease-of-use

5.0

Value for money

5.0

Customer support

5.0

Functionality

4.0

December 2019

Wonderful accounting software for starting and growing a service business

I haven't gone through a tax season with my business yet, but I have been an independent consultant and I anticipate having everything tracked in Wave is going to help me out a lot come April. It's so easy to use and I can focus on my core business rather than spending a lot of time on admin.

Pros

Wave helps me do so much. I can issue invoices, track them (I.e. I can see when a client has viewed it!), and allow clients to make payments directly through the invoice. I can also customize my invoice, which is great. I could do all of this from day 1. I'm a solopreneur and launched my business this summer. I was able to issue professional invoices from day 1 and track my expenses using their receipts app. The other thing I love about Wave is that they are very interested in feedback from their customers. I've had a few interactions with them and it's always been really pleasant. It's also free which helps me out a lot. I do use the credit card payments, which has a fee like any other service would.

Cons

Their mobile app could use some work, and I've given them this feedback. The receipts app is great to take pictures really quickly, but I generally have to use the browser to do anything else.

Reasons for Choosing Wave Accounting

The core software was pricey and I could have easily used Word and Excel and if I wanted a 'free' option. I also didn't need all the bells and whistles, so paying so much for this service didn't make sense for me.

Reasons for Switching to Wave Accounting

I needed something professional and long term.

September 2019

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Felix from PricewaterhouseCoopers

Verified Reviewer

Company Size: 5,001-10,000 employees

Industry: Accounting

Time Used: Less than 12 months

Review Source: Capterra


Ease-of-use

4.0

Value for money

5.0

Customer support

5.0

Functionality

4.0

September 2019

A Solid Free Small Business Accounting Software

It’s been a solid piece of cloud accounting software, albeit limited. It’s hard to beat the price of it, and I have yet to find a similar but more fully featured one at the price of FREE!

Pros

I use Wave to keep track of my personal finances, from income to spending. In that lens, Wave performs quite well, allowing you to tag transactions that are automatically imported from your bank. It also lets you generate some simple reports such as your income statement, balance sheet, and cash flow. The interface is simple to use and understand, and I was able to pick it up (coming from an accounting background) in under a few minutes, without having gone through a walkthrough. The included ability to reconcile statements is also quite handy and allows me to verify that all transactions are posted appropriately. The inclusion of receipt tracking and tagging is also quite handy! The best part about Wave is the price! If you don’t need features such as invoicing and payroll (some SMB’s may find these handy. From a personal perspective, I did not), the accounting software is completely free.

Cons

Wave still appears to be in its infancy, although the product has been there for a while. The user interface will frequently be updated (the reconciliation flow changed 3 times since I signed up about 6 months ago), and new features will constantly be added without any notification, often shifting often things around from where you expect them to be. The reports from Wave are also very limited, so don’t expect any customizable reports as of 08/2019. You get about 12 reports total, some or all of which may not be very relevant to you, depending on your end goal. These reports are completely canned, system generated, and you do not have the ability to create new reports. This may change in the future, but as it stands, this is the current state of affairs. The receipt tracking feature is definitely handy to have. While Wave will OCR your receipts and tag them to a category, it will actually post an entire transaction to the ledger when you save it down. For those of us with a bank account and credit card linked to auto import transactions, you’ll get a duplicate: one from the CC, and one from the receipt. It would be nice if Wave included some intelligence to automatically match the receipt and transaction together, but for now, you need to manually merge each. Finally, as a small point, Wave does not obtain any service assurance through SOC1 or SOC2 reports, an issue that most people wouldn’t ever care about.

Reasons for Choosing Wave Accounting

I mostly chose Wave over Xero for the price. As I’m using this for personal finance tracking, and not a small business, I didn’t want to have to pay Xero’s rather pricy monthly subscription.

August 2019

Clay from Panhandle Lodging RV Park

Company Size: 2-10 employees

Industry: Hospitality

Time Used: More than 2 years

Review Source: Capterra


Ease-of-use

5.0

Value for money

5.0

Customer support

5.0

Functionality

5.0

August 2019

Exactly what I want in a small business accounting software

Very stress free. For a free app, you expect the quality to not be as high, but overall Wave has been very reliable. I didn't really want to pay $30+ a mo for Quickbooks when all I need is for my transactions to be categorized. Wave does this well, so glad it is free. I did use the chat once and had very good experience, although I think I saw they were disabling chat except for people that have paid for support or something, so that's a bummer. But I understand, they have to get paid somehow so I'm not complaining.

Pros

I love the simplicity. We are just a small business, so the primary purpose of using this app is to categorize all my expenses, so once tax time rolls around, I just have to send the tax lady a breakdown of my income and expenses. Once a week or so, I'll log in to check all the transactions it imported from my bank account. It auto categorizes most of them which is awesome, I just have to click the check mark button to verify it was categorized correctly. Then once tax season rolls around, I just run the income statement report and send it to the tax office. I even have created a review account for the tax lady to be able to log in and see my business finances. We are just a simple business so we probably don't use some of the more advanced features, but it does what I want and best of all, it's F-R-E-E. I do also like the payroll and invoicing options if we need that in the future, although that is unlikely for our business.

Cons

For some reason, they disabled the ability for deposits to be auto categorized. This is my most common type of bank transactions, since all credit card payments are deposited into my account a few days after they process, so I have tons of transactions I have to go manually mark as the 'Sales' category. I did talk to customer support over chat about this though, and the lady agreed this would be extremely useful so they are looking into this.

Reasons for Choosing Wave Accounting

Quickbooks because they are the de-facto standard, and because I would trust their reliablility. However, I just didn't like their price. They have the deal to start off with for the first x months, but it always doubles in price after that period. If Wave didn't exist, i'd probably have gone with quickbooks or paid for Zipbooks.

Reasons for Switching to Wave Accounting

I just tried out Zipbooks, and although I was impressed, Wave just offered more for the price of free. Zipbooks only offered like 2 reports on the free plan, and I really needed the income statement report to show my categorized expenses.

July 2019

Dane from Boundless Bookkeeping & Accounting LLC

Company Size: 1 employee

Industry: Accounting

Time Used: More than 2 years

Review Source


Ease-of-use

5.0

Value for money

5.0

Customer support

5.0

Functionality

5.0

July 2019

Wave is a Great Accounting Suite - and it's FREE!

Pros

Wave is a great piece of accounting software that rivals Quickbooks and Xero. The biggest winner, which it obvious to anyone who has researched Wave as an accounting platform for their small business: it’s FREE! Both Quickbooks and Xero have fairly low-cost pricing models for small businesses that range all the way to fairly high-cost for larger businesses. Wave, on the other hand, is specifically tailored to the small business, and offers only features popular with those businesses. But, because of this, their base accounting software is completely free. Their only products you would be billed for would be payroll or credit card processing, both of which are priced competitively to Quickbooks/Intuit’s and Xero’s offerings as well. Wave also offers a lot of the same features, including automatic bank and credit card feeds, customized charts of accounts, multiple businesses on one account, smart expense categorization (software learns over time), and more.

Cons

Wave does have its limitations and is more basic than Quickbooks or Xero, especially to us accountants who can see the glaring differences. However, even as an accountant and bookkeeper, I recommend Wave to a lot of my smaller clients whose biggest consideration is cost, simply because you can’t beat free. Plus, a lot of the additional features that offerings like Quickbooks or Xero feature, smaller businesses will not always utilize anyway, so Wave fits them perfectly. All-in-all, there are no large drawbacks.

May 2019

Andi from Hummingbird Marketing Services LLC

Verified Reviewer

Company Size: 2-10 employees

Industry: Marketing and Advertising

Time Used: Less than 2 years

Review Source: Capterra


Ease-of-use

5.0

Value for money

5.0

Customer support

5.0

Functionality

5.0

May 2019

Wave Shows Me the Money!

Before I used Wave, I was behind every month on my invoicing. I hated sending invoices, and I really, REALLY hated being the Collections person, asking my clients to pay their bills. Then I found Wave, and my whole life changed. I was able to get set up super quickly, connect to my bank, add my clients' contact information, and set up the template for my invoices. Now, I have "Monthly Invoicing" on my calendar, and it takes me about 15 minutes to handle the task (instead of 2 hours). My favorite emails are, "Congrats! You Got Paid!" from Wave. I feel fantastic!

Pros

Wave has absolutely changed my business for the better. It used to take me about 2 hours a month to do my invoicing, which I hated doing, and so I avoided it. Now, I handle monthly invoicing in about 15 minutes. Plus, as new clients come in or one-off projects are completed, I can send the invoices quickly—like 5 minutes. So ease of use is absolutely the first thing I love about Wave. Second, as a small business owner, I am in charge of acquiring new clients, executing the work, invoicing for the work, and then acting as collections when clients are late in paying. With Wave, I check a simple box that sends reminders to the client when things are past due. What a relief! It's coming from "my accounting department" rather than me. Hallelujah! Third, the payment process is so easy for my clients! They can pay any way they want—check, credit card, bank, whatever. It's so easy for them, and I have had zero complaints. It's also fantastic to know when clients have (or haven't) viewed the invoice. And getting the emails from Wave announcing that I've been paid are the best emails of the day. The fact that all of this amazingness is free? That's just the icing on the cake. Thank you, Wave!

Cons

My only issue with Wave is probably a rare use-case. I manage invoicing for a client of mine. (Side note: Wave made it SO EASY for me to be an admin of her account but not the manager, and I can log into my account to access hers. It is AWESOME!) She sells programs, and her clients generally pay in one invoice. Occasionally, her clients need to pay in installments. It was not easy to set up a recurring invoice for only three months to send to the client, especially without a credit card on file. I had to create three different invoices, and label them as Installment #1, #2, etc. However, I recognize that this is probably a one-off user scenario that not many people would need. And I can't complain when the tool is free, and I found a workaround.

Reasons for Choosing Wave Accounting

Honestly, it seemed ridiculous to pay a monthly fee and such high service charges with ProCharge. I'm not big enough nor do I send enough invoices to justify the cost. For Invoicely, the free plan accepts PayPal payments only, so this would be difficult for many of my clients that are businesses and don't use a PayPal account. And there's no branding available. Wave just offers a perfect solution for small businesses that's free while still being robust. I love it!

December 2018

Jack from JEM Software

Company Size: 1 employee

Industry: Information Technology and Services

Time Used: More than 2 years

Review Source: Capterra


Ease-of-use

4.0

Value for money

5.0

Customer support

3.0

Functionality

4.0

December 2018

Wave has amazing functionality for a free product, but it's not as good as it should be

I have been using Accounting by Wave for nearly three years. It was a replacement for my Simply Accounting program. I am forever wondering how Wave can afford to make such a polished product available at no cost. Initially, there were ads, but now that they have a revenue stream from additional services, the ads have been removed. I have opted not to use their in-built payment processing feature, but I imagine it would be similar to Paypal in terms of the fees. Day-to-day operation of the program is smooth. They use a Zapier interface to my bank to update balances and download transactions. This interface is quite slow, although the speed has improved somewhat over the years. As bank transactions are imported, they are categorized into various income/expense categories. I find the categorization to be fairly unhelpful. Even after the user changes the categorization of transactions, Wave does not remember these settings. The next time data is downloaded, it will use the same, incorrect categories as the previous time. Wave is currently rolling out a new version of their software, which promises improvements to the AI (artificial intelligence) capabilities. I hope this means they will remember user-defined categorizations, but until my account is updated, I cannot speculate. There is one VERY ANNOYING bug in the program that I have described in the CONS section, since I've run out of space here.

Pros

The software is FREE for everything other than PAYROLL and PAYMENT PROCESSING. If you don't use those components, there is absolutely no charge. For the most part, it is user-friendly and straightforward, and the quality of its printed invoices, customer statements and reports is top-notch. I really appreciate the ability to create recurring invoices (subscription billing) and view monthly income/expense bar charts for a 1- or 2-year period.

Cons

This is bookkeeping software that stresses simple data entry. However, it doesn't have features such as audit trails for transaction entries. With this program, it is possible to generate transactions, generate reports, and then reverse the transactions without any way of knowing that changes were made. Wave attempts to categorize your income and expenditures, but doesn't currently have the ability to remember your categorizations. But the thing I like least about this software is a BUG that causes the program to download bank transactions and incorrectly categorize them as duplicates of previously downloaded transactions if the transaction amounts match. This bug makes it difficult to find transactions when you are attempting to reconcile your transactions.

November 2018

Chris from ziggylady

Company Size: 1 employee

Industry: Consumer Goods

Time Used: More than 2 years

Review Source: Capterra


Ease-of-use

5.0

Value for money

5.0

Functionality

4.0

November 2018

Great alternative to Quickbooks for small biz users

I have two small e-commerce business, and needed a way to track my inventory purchases, sales, shipping expenses, etc. I also had two independent contractor businesses, needing to track expenses such as mileage, supplies, etc. With Wave, I have each venture as a separate company, I can customize the chart of accounts for each one, create invoices for my independent contractor gigs, track invoice status so I don't overlook if something doesn't get paid on time, and review my income and expenses each month. I sometimes do consignment sales for clients in my e-commerce business, and Wave helps me keep track of those sales and settle up with clients each month. Truly a lot of great features offered, and I don't even use all of them (like Banking & Payroll). So glad I found Wave, and I have recommended it to many others.

Pros

Wave offers a lot of the basic accounting functions needed for small business users, and the best part is that it's FREE TO USE! Woo hoo! I used QuickBooks in my previous career, and liked the detail it provided, but once I started my own small e-commerce business, I didn't want to spend hundreds of dollars on software, or get locked into a recurring monthly subscription. I was thrilled to find Wave and amazed that it was FREE!

Cons

I wish there was a keyword search function in the Transactions section. Sometimes I need to look for a specific transaction but don't remember the exact date it occurred, so have to scroll through several pages to find what I'm seeking. A workaround is to export an Income Statement, then search or sort in Excel, but obviously that takes several extra steps and time. But since it's not costing me anything, this is a minor inconvenience.

March 2018

Miguel from MiAGon LLC

Company Size: 2-10 employees

Industry: Computer Software

Time Used: Less than 2 years

Review Source


Ease-of-use

5.0

Value for money

5.0

Customer support

5.0

Functionality

5.0

March 2018

Accounting, with all the bells and whistles, no costs.

My business accounting needs are not big. My business is small and provides a limited number of offerings that are easily tracked with any application. So, when I was looking for an accounting solution to further simplify and automate some functions, I was surprised at the number of products and the wide range of prices out there. I stumbled across Wave by accident and decided to give it a try. Besides being free, the list of standard features was greater than all other products out there... from free competitive services to paid basic subscriptions. Wave is truly amazing and I have found it extremely helpful. I use it primarily to bill clients: I create invoices, submit them via email, receive payments online, and request receipts to be sent to clients after payment. Wave provides notifications and simplifies all of my accounting in one place. I would not use any other product.

Pros

Wave is free, and packed with features one would typically pay for in other premium products. Wave is the perfect accounting solution for small businesses. For starters, it offers all the essential features ANY business needs... plus more. Manage estimates, invoices, and statements with ease. It even supports recurring invoicing, manage payments, and build a massive library of products and services to choose from for your estimates and invoices. Wave even manages receipts, bills and vendors to track expenses. Like more control than just simple single entries? Wave supports traditional double-entry accounting as well, for increase control of your business accounting needs. Need to accept credit card payments? Wave has a built-in merchant account feature that let's you collect payments online through your invoices. Make email invoices, or attach them as PDF files. And when you get paid, Wave notifies you. Funds are transferred to your connected business account in a couple of days. Reporting? Wave has you covered. All essential reports are available at your fingertips: financial statements, taxes, customers, vendors, and other general reports. And if your business has employees, Wave can handle your payroll. But this feature is a premium... everything else is part of your free account.

December 2019

Elly from ACS Quantum Design

Company Size: 2-10 employees

Industry: Design

Time Used: More than 2 years

Review Source: Capterra


Ease-of-use

5.0

Value for money

5.0

Functionality

5.0

December 2019

OBSESSED

From the beginning, it has been fantastic. I manage all of my business accounting through it. I don't even remember how I found it so many years ago, but I cannot say enough good things about it!

Pros

This makes my accounting SO EASY! Not only am able to easily keep track of my expenses and costs associated with my business, but I'm able to create, issue, and track invoices. AND, to top it off, the invoices are so nice looking (which, as a designer, is a big deal to me). I can not only issue invoices, but track whether they have been opened, viewed, and/or paid. And when it comes to figuring out my taxes, the system makes it so simple to get whatever information I need. Finally, while I don't use it yet, I will be enabling online payments this upcoming year so my customers can pay their invoices online. Based on my experience thus far, I have NO doubt it will be great!

Cons

This is a difficult one as I really don't have a dislike.... If I really think about it, I guess I wish I could have different addresses (for me) on difference invoices based on the customer. I have two locations so it would be nice to be able to just issue invoices with different business addresses based on the customer.

Reasons for Switching to Wave Accounting

My computer was not longer compatible with the Quickbooks version I had, so I was going to need to buy a new license, which was frustrating given I had only JUST purchased it.

August 2018

Mark from FCV Interactive

Verified Reviewer

Company Size: 51-200 employees

Industry: Information Technology and Services

Time Used: More than 2 years

Review Source: GetApp


Ease-of-use

5.0

Value for money

5.0

Customer support

5.0

Functionality

5.0

August 2018

Small business accounting, invoicing, credit card processing for minimal cost

Pros

As many other reviews have stated, there is no subscription cost for Wave, which is great. There have been a number of features added to Wave since I started to use it, such as recurring invoicing/credit card processing and direct bank payments. Wave's support is helpful, money is transferred quickly, and my invoices look great. I am providing a more detailed review than I did the first time, but I have "sung the praises" of Wave a few times. (Including on Twitter, and they promptly thanked me for it - they listen, which is great). Wave is Canadian, and they are based in Toronto, but that is only one reason I chose to work with their service. I have a couple of complaints about their service, but nothing serious enough which would cause me to switch services. The flexibility of PDF/web-based invoices is great, retains client details, and it just gets the job done for me as a freelancer.

Cons

On a few occasions, my invoices got picked up by my clients' spam filters, so I tend to use the PDF invoice option. Not a big issue, I've followed up on it. Also if I take payment through PayPal, I can get paid in US funds, but I have to invoice in Canadian funds only through Wave because my bank is in Canada (even if I have a US funds account). Oh well, again, no big deal. Apparently, there is auto-reconcile of transactions through AI functionality in Wave's future, which will address another pet peeve I have, but again no big deal.

February 2021

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Andrew from Andrew Murray HQ

Verified Reviewer

Company Size: 2-10 employees

Industry: E-Learning

Time Used: More than 2 years

Review Source: Capterra


Ease-of-use

4.0

Value for money

5.0

Customer support

1.0

Functionality

3.0

February 2021

Wave Accounting: Could Be Perfect.

I am really happy having moved over from Zoho Books and before than from Xero. I love that you can toggle between personal and business sides easily. Delegation is well thought out. Personally, I love having my books in the cloud because I can hire a bookeeper who can get to know my workflow. (Wave also has bookeepers you can hire internally.) It's perfect for people that are small entrepreneurs who need to have a business set of books.

Pros

Wave Accounting is a really great idea. Simple bookeeping for people that don't have "accountant-minds." It gets into a space where programs like Xero and Zoho Books are a little too complicated for non-accountants and creators. It's got a fantastic UI. Easy to use. Fairly easy to setup. Way more intuitive than competitors like Zoho Books and Xero Accounting.

Cons

Support is really slow. I get that it's a free service, and therefore you have paid support working for free customers. But support takes days to get back to you. So once you're setup, it's fine. But if you have a question or two doing setup, like I did, it takes an extraordinarily long time. Granted, most people using this might not have to deal with multi-currency and Paypal in particular, but it's something to keep in mind. Also, the bank connections sometimes fail. Although this is a problem with all of these services who use Plaid to get bank data.

Reasons for Switching to Wave Accounting

Easier to use and less expensive.

March 2021

Anonymous

Verified Reviewer

Company Size: 2-10 employees

Time Used: Less than 12 months

Review Source: Capterra


Ease-of-use

5.0

Value for money

5.0

Customer support

4.0

Functionality

4.0

March 2021

Intuitive to use, great features and integrations, yet not for everyone

Wave was a joy to use, and it's free unless you need payroll! This is an excellent option for small businesses and contractors to get accounting / invoicing services very inexpensively, however note there are caveats that make Wave unattractive to some.

Pros

The Wave interface is very intuitive to use, and there was no intimidation when dealing with complicated matters like invoicing or expense tracking. Out of the accounting services we tested, Wave had the best user interface. Additionally, the integrations with Zapier and PieSync are excellent.

Cons

Bank reconciliation is known to be inaccurate with Wave, with many reports that data doesn't sync with the bank for months at a time. This is likely due to the banks breaking the connection with Wave's 3rd party service (Plaid) on a regular basis, but ultimately this is out of Wave's control.

November 2017

Anonymous

Verified Reviewer

Time Used: More than 2 years

Review Source: Capterra


Ease-of-use

5.0

Value for money

5.0

Customer support

4.0

Functionality

4.0

November 2017

Easy to use and helpful

Easy, almost fully automated bookkeeping. The invoicing and payment features automatically updates my books when I get paid, the bank connection means that I only have to reconcile my account to make sure everything is ok.

Pros

This is great for the very new or very small business. It's easy to use and has all of the basic features that you will need for an unbeatable price. It's very easy to use and the documentation and support have been very helpful. There is no phone option but live chat is available and I have never had to wait more than a day for an e-mail response. It is truly free to use for accounting. You have the options of accepting credit card and bank payments for a very competitive rate. The only other cost is for payroll if you were to use that feature. The software is in active development and since I started using it they have added great features such as Invoicing app, recurring payments, and bank payments and it keeps getting better.

Cons

Limited reporting, you get all of the basics that you will need to measure your financial health, receivables, etc but there are no custom reports. While you can very easily reconcile your bank account, you can't print a reconciliation report. There is no class/job tracking feature and while it looks like many users have requested it, it doesn't look like the developers are planning on implementing it anytime soon. So if your business needs this feature, this is not the right option for you.

September 2020

Mark from A Willing Participant, Inc.

Company Size: 2-10 employees

Industry: Marketing and Advertising

Time Used: More than 2 years

Review Source: Capterra


Ease-of-use

4.0

Value for money

5.0

Functionality

4.0

September 2020

You don't need an accounting degree, but...

Genuinely happy with Wave for the most part. It's a perfect accounting companion for someone just starting up a company or working freelance. If you do your homework and due diligence on the front end when you set it up, and read a few tutorials and tips along the way, you should be pretty satisfied with what Wave can do for you.

Pros

Wave is so easy to use. In the past, we used QuickBooks and mostly put up with some of the quirks that platform has. With Wave, though, things are streamlined and fairly intuitive. You have access to a dashboard that shows you all the important things going on with your account, invoices are easy to template and track, and you can link your bank accounts for even tighter tracking and money management. Mostly what I like about Wave is that I can get in and get out and not get a giant headache trying to figure all of this out. And we are on the free plan, so that alone is great. That, however, does come at a price...

Cons

I'm not an accountant, so it's not Wave's fault that I don't quite get all the ins and outs I should. But my actual tax accountant tells me that she gets frustrated with how some of the reporting is handled and the way things are reconciled. Part of that, I think, is that everyone is used to how things run on QuickBooks. So we've ironed out some of the issues and made due where we can. I did mention above that we are on the free plan, so we don't have access to a dedicated rep or some of the bigger features. That's ok for us, but other larger companies might not agree. We have also had issues at times with how Wave handles syncing to our bank accounts. Sometimes operator error on our end, but sometimes not. Again, it's free, so you should expect to maybe have to put in some extra work here and there. Just letting you know.

November 2018

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Gregg from ASSOCIATED CHURCH PRESS

Verified Reviewer

Company Size: 2-10 employees

Industry: Religious Institutions

Time Used: Less than 2 years

Review Source: Capterra


Ease-of-use

5.0

Value for money

5.0

Customer support

3.0

Functionality

4.0

November 2018

Free accounting with added features and mobile tools

Really powerful accounting software with automated tools for transaction importing, electronic payment processing and mobile tools for expense entry and invoice creation. Excellent for the price, knowing the service fees for payments and payroll offset the "free" price tag is more than worth it compared to the competition.

Pros

Wave allows me to keep track of finances for multiple enterprises - self-employment business, a non-profit, and personal finances. Each account was set up using the Wave wizard and very few changes have been made to the overall function beyond that. The non-profit I manage has a series of account codes that were easily added and applied to transactions. I use multiple income streams for my business and they are all imported automatically. Wave charges for things like payroll administration, credit card processing and bank transfers - all at industry standard rates - and that's how they keep the base platform free. The mobile expense app helps me keep track of receipts and does a really excellent job of deciphering receipts, even in multiple languages and currencies! The mobile invoice app is great for sending quick invoices or following up with clients on payment. Also allows viewing and reporting for authorized agents who can't change any data - a needed feature for the separation of financial powers required with most non-profit setups. My accountant can take a peek too.

Cons

One feature that is present in most accounting systems is the ability to categorize an expense as a reimbursed expense and then assign it to an invoice - at cost or with a markup. With Wave, I needed to set up a separate "reimbursed expenses" account and then - via double entry - add the expense onto invoices with a "reimbursed expense" account code. If entered at cost, the balances zero out in the reporting. If there is a markup, the income category is "reimbursed expense", which isn't helpful for year-end accounting.

July 2020

Angie from 31Four, Inc.

Company Size: 2-10 employees

Industry: Retail

Time Used: Less than 2 years

Review Source: Capterra


Ease-of-use

5.0

Value for money

5.0

Customer support

5.0

Functionality

5.0

July 2020

Excellent alternative to QuickBooks

I've had a very positive experience with Wave. As mentioned, I have used their paid and their free offerings and feel both are an excellent value. I think Wave offers a great way to save on a monthly subscription fee. Their customer service has been very helpful when I've had questions.

Pros

I use Wave for bookkeeping for our retail business as well as for consulting projects. It's easy to set up and is intuitive to use. Transactions are automatically imported and can be easily categorized. I also use Wave for our payroll (which is a paid service) - this was also easy to set up and Wave can manage sending in your employer taxes. Since I do not have a background in accounting, I also paid for a one-time session with a Wave accountant - this session was extremely helpful in ensuring I had my books set up correctly as we walked through my books in real-time and were able to identify necessary changes. I have never used another bookkeeping software, but I find that Wave meets all of our daily needs.

Cons

Because I use Wave for two different arms of my business, I do wish you could automatically move them between the businesses. Instead, you have to manually enter charges. For example, if I have a charge auto-import from my business card I have to create a few transactions to get them assigned to the correct business because I want P&L tracked separately.

Reasons for Choosing Wave Accounting

Wave is free and I feel it offers all the features a small business needs.

October 2018

Belinda from Seed Stock Media, llc

Company Size: 2-10 employees

Time Used: More than 2 years

Review Source


Ease-of-use

4.0

Value for money

5.0

Customer support

4.0

Functionality

4.0

October 2018

Simple Online Invoicing - Accounting Tool

As a small freelance shop, we needed an invoicing program with accounting capabilities that was simple to learn and use as well as being flexible enough for multiple devices. We tried several other programs but they were either too expensive or too complicated, with many functions we didn’t need, or were too hard to learn. It took very little time for us to learn and set up Wave Accounting for our office and start using the invoicing feature. We're quite pleased with the program.

Pros

We found Wave to be easy to learn and set up and it allowed us to connect to both bank and credit card accounts. Invoicing is easy and flexible allowing us to download a pdf and attach to an email for a client or to send directly from Wave. Our clients can print the invoice and mail us a check or pay online with a credit or debit card through Wave. Wave’s fees are competitive for processing the funds. The funds are directly deposited into our connected bank account, usually within two business days. The invoicing features were our biggest need and the program allows us to send the invoice, send reminders, mark paid and send receipts. Setting up the chart of accounts was probably the most challenging, but there is a default chart which can be edited or added to and we easily found tutorials online. Their customer service was quite responsive to our questions. The reports function gave us what we needed for monthly, quarterly and year-end reporting. All in all, Wave was a great solution for our invoicing and accounting needs.

Cons

We needed some specific tax calculations but found there was no way to add a specific formula into the tax account. This requires manual entries for us. Because the program is a streamlined accounting version, which is what we really like, it does have some limitations.

October 2016

Al from Computer Consulting

Company Size: 11-50 employees

Industry: Computer Networking

Time Used: More than 2 years

Review Source: Capterra


Ease-of-use

4.0

Value for money

5.0

Customer support

3.0

Functionality

3.0

October 2016

Great Software for Small Business (Beta User)

I started a business and wanted to avoid getting locked into the Quickbooks infrastructure like last time. Wave Accounting online was successful in helping me with that goal! I found everything I needed for income and tax reporting as a small business. Wave Accounting made me look very professional with the ability to email invoices and collect payment using credit cards. Issues I encountered included occasional sync problems with my checking account (similar to issues's I've had with MINT by Intuit). When I decided to change from Suntrust bank to a local credit union I went a couple of months without ability to sync my accounts. Customer support (by email) was friendly and adequate. Some features like payroll are paid features. Processing credit cards will cost you a percentage of each transaction (4% it was at the time I used it). Some features like paying 1099 (contract) employees were very necessary for small business but still in development while I used the software (it works now). I didn't personally find anything else fundamental missing but I'm not an accountant - I'm an IT guy who wanted to do my own books. Wave fit my needs exactly and will probably be enough for you. During the time I owned and operated my business I may have saved over $300/year and avoided the frustration of working with the crazy behemoth that is Quickbooks (however my credit card fees added up to about twice that). If I were starting over again today I would have to carefully reconsider and compare with Quickbooks Online. I would NEVER willfully choose to run their desktop products. Cloud based products with online support and integrated security features is the current way to go.

Pros

Cloud

Cons

Support

October 2017

Belinda from Seed Stock Media, llc

Company Size: 2-10 employees

Industry: Management Consulting

Time Used: Less than 2 years

Review Source


Ease-of-use

5.0

Value for money

5.0

Customer support

4.0

Functionality

4.0

October 2017

Simple Back Office Accounting

Wave seems to be a company looking toward the future for small businesses. With their affordable, cloud based solution they also offer a receipt app for adding images to the expense files. There are many other integrations I expect to use in the future via the Wave Zapier connection. I have been using it for a year now and am just so pleased with how Wave works.

Pros

For small studios, new and busy entrepreneurs who trying to generate enough revenue to hire or outsource the accounting functions, Wave is like an answer to prayer. It is easy to open an account, it has all the accounting ledgers that the tax accountant needs, it connects to read-only of bank accounts and credit card accounts, and did I mention it is a free cloud-based solution. The user interface is easy to understand. You can create and send invoices as well as connect a business bank account to receive payment with Credit or Debit cards. The bank fees are the same as other payment processors at 3% currently. The invoicing function allows for automatically reminding clients when their invoice is getting close to being due and when it is overdue. Once the money is received it is a simple click or two to mark the invoice paid and tell it which account the money was received into. Like other complicated accounting software, Wave allows for setting up products, sales tax and customers. Unlike the complicated ones, it is easy to do. Running sales tax reports is a piece of cake. There are options for running employee payroll, too. All in all, because of the Wave accounting solution, I am no longer afraid of the books and can easily keep up with the administration of the financial side of my business.

Cons

It would be helpful if there were more tutorials available, but because the program is easy to set up, it has not been a big problem to figure things out or find third-party tutorials online.

April 2020

Sheila from The Soap Box Laundry, LLC

Company Size: 2-10 employees

Industry: Apparel & Fashion

Time Used: More than 2 years

Review Source: Capterra


Ease-of-use

5.0

Value for money

5.0

Customer support

5.0

Functionality

5.0

April 2020

Wave makes accounting easy for everyone

We love this program and the fact that our employees find it very easy to use as well. We love the optional add ons that we might need in the future and will allow the program to grow with our business. I highly recommend this program to anyone needing a great program without the cost of the others.

Pros

This software is easy to learn and easy to use. We use it every day to invoice customers and keep up with balances due on accounts. We use it to send reminders when money is owed and to post payments on customer accounts.

Cons

There have been a few glitches where pages didn't load but we were able to get that resolved quickly by contacting customer support. A coupe of times it was due to our own system settings.

Reasons for Choosing Wave Accounting

The price was the initial biggest factor but once we purchased we realized it does everything quickbooks does as half the price.

October 2020

Anonymous

Verified Reviewer

Company Size: 1 employee

Time Used: More than 2 years

Review Source: Capterra


Ease-of-use

4.0

Value for money

5.0

Customer support

5.0

Functionality

5.0

October 2020

Great product affordable price for small business

Overall it has been a great experience. So much so that I use another software that offers these features but I am not willing to switch from Waze. Anytime I have had to use customer service they have been readily available and diligent with their commitment to helping me reach a resolution. It has made invoicing easier for myself and my clients. It keeps me on top of accounting which is not my strongest skill set

Pros

I mostly use the software for invoicing. The invoices are easy to set up and deliver. They are clear and professional looking. I'm able to customize it with my company colors and logo. Payment is easy on my clients end. I love the ability to set up reoccurring statements and print out customer statements to keep track of client accounts. I also enjoy the future for storing client payment options so that I can go in and automatically charge a payment after Services have been rendered.

Cons

It does not do a great job of categorizing income accurately. It counts some income as two separate payments received versus one. This gets especially tricky when you use outside sources such as payment through PayPal instead of credit card or bank. The app could be more streamlined and offer more features to be able to do accounting remotely.

Reasons for Choosing Wave Accounting

Affordability, features, ease-of-use

Reasons for Switching to Wave Accounting

Affordability and ease of implementation

August 2018

Jenny from Bendigo Baptist Church

Verified Reviewer

Time Used: Less than 6 months

Review Source: Capterra


Ease-of-use

5.0

Value for money

5.0

Customer support

4.0

Functionality

5.0

August 2018

What an amazing product!!!

Easy management of all financial needs for my not for profit; accounting, invoicing, billing, payment tracking, payroll management, finance management and receipts.

Pros

This accounting package is a fully functional, forever free, product that has turned me, a nuffer when it comes to bookkeeping/accounting to someone who almost knows what they are doing. I have ALWAYS avoided the finance side of the non for profit with which I work as a volunteer, but circumstances forced me to get at least a working knowledge and Wave has made it so easy. The package comes complete with accounting, invoicing, billing, payment tracking, payroll management, finance management and receipts. It also does bank reconciliations and lots of different reports. All of this was far more than we needed. I read some of their FAQs then launched myself. Made some mistakes as I set up customers but was able to fix it fairly easily. Our invoices look so professional now and I can schedule them to send reminders. It links to over 90 banking institutions (ours included- yay!) and that has made tracking payments and and creating reports SO easy. The transaction stuff is easy to modify, and deposits can be split and allocated to the correct chart of accounts if they were all paid in one payment. The income and expenses for your budget are easy to set up (chart of accounts) and it has things I definitely have no idea about like equity and assets! You can add guest contributors, and allocated them ac There is an option to use credit card payments. That is the only cost. We have chosen not to use that yet, but I think we will, moving forward.

Cons

You can upload a .cvs file with all your customers, but it has to be SO exact that I could not succeed at all and inputted my customers manually. As there were only about 60 it was not too bad. Support were good, but slow, and I had done the manual input before they replied.

October 2020

Richard from Tayco Communications

Company Size: 2-10 employees

Industry: Telecommunications

Time Used: More than 2 years

Review Source: Capterra


Ease-of-use

5.0

Value for money

5.0

Customer support

5.0

Functionality

4.0

October 2020

Excellent Program

I was looking for a program that let me build estimates and convert them to invoices without any hassle and this fit the bill. Once a client approves an estimate, I click a button and convert it to an invoice and the client pays online. I love the credit card processing. Even though the rate seems high, It's all done automatically and I do nothing to get paid. If I want instant payout, I click a button and the money is in my account a few minutes later, at a 1% fee.

Pros

I love the fact this is internet based and handles my credit card processing, estimates, invoicing, automatic billing etc. I love being able to import bank statements (or direct access to bank) and import information automatically.

Cons

It can be a little confusing understanding the different features and what they really mean. It's not very easy to look up a specific client and pull down an invoice for them and sometimes the clients ability to pay online is shut off for unknown reasons. It seems that happens if I use the invoicing app so I can submit invoices immediately to a client while onsite.

Reasons for Choosing Wave Accounting

Could never get the online credit card processing to work. Just too difficult and clients complained about it never working.

August 2019

Shaye from Investment Management

Company Size: 2-10 employees

Industry: Wine and Spirits

Time Used: Less than 6 months

Review Source: Capterra


Ease-of-use

5.0

Value for money

5.0

Customer support

5.0

Functionality

5.0

August 2019

accounting and bookkeeping as easy as it gets

Overall, I'm quite happy. It was an accounting software that came with my banking when I opened a new business account. It has exceeded my expectations in terms of its capabilities and user friendliness. Anyone can use it without having an accounting degree.

Pros

Bookkeeping is one of my least favorite things about owning a business but this application has helped quite a bit. It makes it super easy to track invoices and collect payments. Invoices are extremely professional looking and easy to edit and update.

Cons

I have a tough time figuring out how to use two different currencies and still maintain consistency. There are also a couple of things that I have yet to explore and for that reason I still use a spreadsheet.

Reasons for Choosing Wave Accounting

To be fair I never tried Xero but was told about it. Once I started using Wave I didn't have much of a reason to switch.

Reasons for Switching to Wave Accounting

It was provided free or charge by my bank and once I gave it a shot I found it much easier and intuitive than Quickbooks

November 2019

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Kathy from Lazer Web Services

Verified Reviewer

Company Size: 1 employee

Industry: Professional Training & Coaching

Time Used: More than 2 years

Review Source: Capterra


Ease-of-use

4.0

Value for money

5.0

Customer support

5.0

Functionality

4.0

November 2019

Very Good alternative for invoicing customers

Their invoicing system is easy to use and makes it easy for me to manage most of my clients.I look forward to trying out their accounting services. I decided to give Wave a try when my PayPal acct was on hold. I still use both.

Pros

I have only used the invoicing part of this software. I love it for the most part. I =t is missing a feature or two

Cons

I found that I could not let my clients submit partial payments, or it wasn't clear on how to do it. Multiple payments was not flexible enough for my needs. I would have liked to be able to schedule the payments by specific date rather than genericall as ay, week, month, etc

Reasons for Switching to Wave Accounting

My PP acct was on hold for about 30 days and I needed another solution to bill my clients

June 2019

Jeff from Brewchee Design

Verified Reviewer

Company Size: 1 employee

Industry: Information Technology and Services

Time Used: More than 2 years

Review Source: Capterra


Ease-of-use

4.0

Value for money

5.0

Functionality

5.0

June 2019

Free and Simple Accounting Web Application

I was surprised that a fee accounting web application had all the features that I wanted. The Invoice, Client, and Product tools all worked as expected. I have not had a single issue in the past 7+ years of using this.

Pros

I do a small amount of freelance work in addition to my full time job. I was looking for a way to keep track of my hours and send invoices. I didn't need anything fancy, but a spreadsheet just wasn't cutting it. I wasn't making enough from freelancing to pay a lot for accounting software or an accounting service, but it was becoming a necessity. I was surprised to find a free option that wasn't missing the features I needed. I have been using Accounting by Wave for over 7 years and Always recommend it to any freelancer that I meet.

Cons

There was a bit of a Learning Curve to this web application, but that may have just been with inexperience with any accounting application. Also I initially wasn't thrilled with the watermarks that go out on the invoices, but I was ultimately okay with this remembering that it is a free application.

Reasons for Choosing Wave Accounting

Simple, it's free, and it does everything that I need it to do.

January 2021

Summer from PetsAway q8

Company Size: 2-10 employees

Industry: Import and Export

Time Used: Less than 2 years

Review Source: Capterra


Ease-of-use

5.0

Functionality

5.0

January 2021

Robust, invaluable & very stable

It has been a Godsend and I have used it extensively to track payments due, and alto send professional looking invoices & receipts.

Pros

1. Highly stable. Doesn't glitch. 2. Mobile App available 3. Invoices are totally editable and can add your own logo 4. Reminds you of overdue bill & you can send a reminder 5. Can do both estimates & invoices. 6. Receipts can be sent. 7. Payment can be made by multiple sources & at different times, which automatically deducts from the bill. 8. It's really easy to use 9. Invoices are downloadable in pdf format 10.Free version have me extensive functionality that I have been so grateful for

Cons

Free version doesn't allow for credit card processing (which is fair) Really I have loved using this software and have not had issues. The only thing is I think that they will soon bump users off that are not based in the USA / Canada. Which will be really sad.

Reasons for Choosing Wave Accounting

It was free.

May 2021

Nikki from Deal Finding Diva

Company Size: 1 employee

Industry: Online Media

Time Used: Less than 2 years

Review Source: Capterra


Ease-of-use

5.0

Functionality

5.0

May 2021

It saved me at tax time!

Wave Accounting kept track of all the transactions in my bank account after I linked them. This made life so much easier during tax time. I was able to easily search transactions which saved me so much time. This is a free platform, so that is one great feature that cannot be overlooked. So many platforms charge for doing less, so I definitely appreciate the free option. While I do love that I can create invoices, I am unable to just create the PDF on the website. It has to be emailed. So, I have to take the extra steps to email it to myself, then download the PDF from the email. This could be streamlined. Otherwise, this platform is perfect for me. Definitely useful. Especially for small business owners on a budget.

Pros

Wave Accounting links up to my bank account and keeps track of my cash flow even when I am not thinking about it.

Cons

Sending invoices does allow for the PDF to be generated and downloaded on the website. It must be sent. So, I always have to email it to myself, then download the PDF.

Reasons for Switching to Wave Accounting

Wave is free. Quickbooks charges.

June 2020

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aka from Webtaskr

Verified Reviewer

Company Size: 2-10 employees

Industry: Information Technology and Services

Time Used: Less than 12 months

Review Source: Capterra


Ease-of-use

5.0

Value for money

5.0

Customer support

3.0

Functionality

3.0

June 2020

Maintain healthy accounts with wave

I have been using wave for approx one year now to maintain a healthy cash flow report and I am loving it till now. I would recommend it to my friends who are looking for a quick and simple book of accounts on the cloud.

Pros

The ability to use it from anywhere if you have a mobile device, a laptop, or a desktop along with internet connection makes is a pro like feeling in itself. This is just not adding data here in the wave rather we can even maintain full journal records if you about the debit and credit nature of transactions. Also, we can use it as an invoicing tool and maintain all customer data adds up as a CRM facility to it.

Cons

The connection for syncing the bank account for auto-import of bank and card transactions fails quite often and I have to redo it again and again which makes me feel really bad as it is a tedious process.

Reasons for Switching to Wave Accounting

Tally does not have a good user interface and also cloud account was not possible there. It is more towards device based and you cannot make changes on the go with Tally.

November 2020

Jacqueline from BVLAS

Company Size: 1 employee

Industry: Legal Services

Time Used: Less than 2 years

Review Source: Capterra


Ease-of-use

5.0

Functionality

5.0

November 2020

Easy to use and free!

I have had a great experience with Wave Accounting. I was able to create nice looking invoices and edit when necessary and sending invoices to clients is a breeze. The best accounting software and best of all, it's free.

Pros

This is the best do-it-yourself accounting tool ever. Everything is done for you; even the taxes. All you have to do is type in the name of the tax you want and it calculates everything for you! It even sends out reminders to your clients if payment is not made when indicated.

Cons

I honestly can't think of anything that I don't like about this software. My business is simple so my needs are simple. I don't like reminders being sent to clients so I have to ensure the reminder is off. It was a little embarrassing a couple of times when an invoice was already paid and the client got a reminder; oops!

Reasons for Choosing Wave Accounting

There were no alternative products - I researched and found Wave and it was free and I tried it, loved it, stuck with it.

Reasons for Switching to Wave Accounting

After the free trial I had to pay and as my business is a "one woman show", I really didn't want to shell out coin to pay for a software if I could find one free. From what I can recall, Wave worked out better for me.

March 2018

Sarah from Pendant Creative

Company Size: 1 employee

Industry: Marketing and Advertising

Time Used: Less than 12 months

Review Source: Capterra


Ease-of-use

4.0

Value for money

5.0

Customer support

3.0

Functionality

4.0

March 2018

Great Web Based Accounting Solution for my Business

I now have a very clean and easy to understand accounting and invoicing software. It's a quick learn and easy and fast to use so I can focus on my clients.

Pros

I love that this is free and has the ability to do more complicated accounting that my business requires. It has a clean UI, the Receipts app works perfectly, and my client facing invoicing system looks professional. I love that I can set up recurring invoices, different rates for services, payment reminders to clients, and email confirmations of payment. The accounting side has the ability to create more detailed journal entries that my LLC / contractor based business has. And I can run very good reports for data that I need to monitor. And so far the entire software has every feature that I've needed.

Cons

When you go to create a new expense account, you can't just add a new one, you have to change the name of an existing option in their system. It's a bit weird and annoying, but small price to pay for free and useful software. Also I don't actually have Wave synced with my bank account. I did that initially, then realized if I load a receipt, it was double booking my entries (1. the receipt I uplodaded and 2. the transaction from my bank account). Turns out this is common with accounting softwares and most people I talked to don't sync their bank accounts for this very reason. Again, small price to pay for a great software, and it's really super quick for me to enter my transactions as my way of reconciling my bank account.

July 2019

Michi from 4M

Company Size: 2-10 employees

Industry: Marketing and Advertising

Time Used: Less than 2 years

Review Source: Capterra


Ease-of-use

4.0

Customer support

5.0

Functionality

4.0

July 2019

Online bookkeeping

Overall it has been a good experience with Wave. I enjoy that the options I need are free at the moment and the option to charge and collect through Wave is there for me to use in the future. I also like that their customer service is responsive and you can chat when you have questions.

Pros

I enjoy being able to access my information no matter where I am. The ability to create and send invoices from anywhere is important for my business. I also enjoy that I can help manage multiple businesses from one login.

Cons

There's a small issue with tax computation whereby the rounding takes place at the line item level and is causing in certain instances a small overcharge (Penny to pennies) on the tax. They are aware of this issue. Hopefully, it will be resolved.

Reasons for Choosing Wave Accounting

Enjoyed the features, especially the option to manage multiple companies.

Reasons for Switching to Wave Accounting

To try something new

January 2021

Steven from Xefatura Consulting, LLC

Company Size: 2-10 employees

Industry: Management Consulting

Time Used: More than 2 years

Review Source: Capterra


Ease-of-use

4.0

Value for money

5.0

Customer support

2.0

Functionality

3.0

January 2021

Software is Good - Customer Services Poor

I switched from QBO and I have not being disappointed. I am very disappointed in Waze Advisor, the bookkeeping service that Waze sells to customers. I signed up for year of booking for about $1500 and received very little value. Over 9 months, I had 5 different bookkeepers. The each had a different approach to the bookkeeping process and different advice for how I should interact with the software. The last advisor never did the things he was supposed to do and he finally just stopped working for me. I complained to his supervisor, but to little effect. Now I'm looking for an outside bookkeeper. There is a huge network of Quickbooks bookkeepers, but many fewer who are familiar with Wave. I'll probably go back to doing my own bookkeeping rather than try yet another bookkeeper.

Pros

Simple, cheap, practical, and with supporting services. I used it first for invoicing and then full bookkeeping and payroll.

Cons

There are some simple features missing, like being able to record the date of service as a data field on an invoice. Before signing up for the Wave Advisors for bookkeeping, I paid for 2 hours of coaching. The coaching was good, but the Wave Advisors service was close to worthless.

Reasons for Choosing Wave Accounting

Good features and free.

Reasons for Switching to Wave Accounting

QBO worked fine for me and I was an early adopter, so I had a free, full-featured account. When I decided to hire a bookkeeper, who was in the Quickbooks network, and that called attention to my free account. When the price went to $40/month I just let my bookkeeper do it all. I needed a way to continuing doing the invoicing myself, which led me to Wave.

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