Wave

Wave offers a suite of financial tools tailored for small business owners, including invoicing, online payments, accounting, and payroll. Designed for simplicity, its features help users track cash flow, reduce unpaid invoices, and streamline tax preparation. With options for expert advisory services and secure data encryption, Wave supports businesses in managing finances efficiently and confidently.

Founded in	2009
Location	🇨🇦 Canada
Founders	Kirk Simpson

Features

Plans

Starter

◈Create unlimited estimates, invoices, bills, and bookkeeping records

◈Option to accept online payments

◈Invoice on-the-go via the Wave app

◈Manage cash flow and customers in one dashboard

PRO Plan

$16/month Billed monthly

◈Everything in Starter, plus….

◈Option to accept online payments at a discounted rate

◈Auto-import bank transactions

◈Auto-merge and categorize bank transactions

◈Digitally capture unlimited receipts and track expenses

◈Automate late payment reminders

Refund Policy

Wave does not provide refunds or credits for cancellations or partially used subscriptions, as stated in their terms of service.

Ratings

g2(4.3/5)

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capterra(4.4/5)

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Ai Opinion

✦

AI Rating(3.5/5)

WaveApps offers a free and user-friendly accounting solution popular with small businesses, praised for easy invoicing and good value. However, users report slow performance, limited customer support, and occasional responsiveness issues. It works well for basic needs but may lack advanced features and robust support.

Expert Opinion

✎

Expert Rating(4.5/5)

I recently tested Wave, a comprehensive financial management platform designed for small business owners. Here is my detailed review:

Wave stands out for its user-friendly and intuitive interface, making it an excellent choice for entrepreneurs and freelancers who lack formal accounting knowledge. The platform offers a suite of tools, including invoicing, payments, accounting, payroll, and advisory services. Its invoicing feature is particularly impressive, allowing users to create professional invoices quickly and enabling clients to pay via credit card, bank transfer, or Apple Pay with just one click. This not only reduces unpaid invoices but also speeds up the payment process significantly.

One of Wave's biggest strengths is that many of its core features are free to use, such as invoicing and accounting. This makes it a highly attractive option for small businesses operating on tight budgets. Additionally, its cloud-based nature means there’s no need for installation—everything is accessible online or via the mobile app for managing invoices and payments on the go. The platform also ensures data security with 256-bit SSL encryption and PCI-DSS compliance.

However, there are some limitations to consider. While the free features are robust, advanced functionalities like payroll are only available in select regions (currently the US and Canada) and come at an additional cost. Customer support is also tiered based on the plan you choose, which might be a drawback for businesses requiring immediate assistance. Furthermore, Wave lacks some of the advanced customization options found in premium accounting software like QuickBooks or Xero.

In conclusion, Wave is a fantastic solution for small business owners seeking an affordable yet powerful tool to manage their finances. Its ease of use, essential features, and cost-effectiveness make it a standout choice in the market. While it may not cater to businesses with highly complex needs, it provides peace of mind and simplicity for those looking to streamline their financial processes.