When your start-up finally spreads its wings and starts to fly, it is easy to get bogged down by unexpected admin which is time-consuming and complicated. The unpleasant fact that most entrepreneurs, freelancers or any start-up owner need to face, is that they aren’t free to only follow their passion. There is always some admin that needs to be done, to not only grow your business but also to stay in business. The bookkeeping side of a company is often just that.
Fortunately, we live in an era of brilliant software and practical applications. The best part is that these services are often offered free of charge. Wave Accounting is just that. This Canadian company provides financial services and online software for small businesses to make bookkeeping easy, useful and accurate. This service is offered free of charge without any limitations on several invoicing or payment processes. Users can expect to get cash-basis accounting features, automated account tracking and limited e-commerce features. The wave was also the first of all accounting software solutions to offer an integrated lending feature.
Keeping Larger Businesses Out
Besides the fact that a more substantial business would most probably need features which wave doesn’t offer or only offer limited versions, it is also impossible to add multiple users on the wave, and thus the focus remains on small businesses. Some of these limited features include limited time tracking and inventory features and no project management features. It is free of charge, and that makes it superb for your small business, which only needs the basics.
What Can You Expect from Wave?
Wave has been around since 2010 and is continuously updating to improve their service. Over time their lists of positives have exceeded by far the cons of this software. It is easy to use. It is cloud-based, it offers attractive invoice templates, great numerous features and excellent support material. Although it needs to be mentioned that their customer support in itself, is on the weak side.
Being free, new users might wonder whether they are going to be swamped with advertisements in between to keep the business financially viable. The answer is downright no. Wave generates an income from credit card processing, payroll as well as bookkeeping services. This way, they keep the software free and your screen advertisement free.
If the wave doesn’t work out for you or is not what you expected it to be, then cancelling is easy and you can cancel your account at any time.
Wave is cloud-based and can run almost everywhere as long as that you have internet access. Wave also delivers Invoice by Wave and Receipts by Wave, which are iOS apps and the same are offered in Android as well.
Wave is focused on small businesses and is offering a well-organized and easy to use solution to them. For a more substantial business with more accounting needs, this might not be the best solution. Before you go out and purchase any accounting software, have a look at wave. They may offer precisely what you need.