Wave Invoicing Review 2024: Features, Pros & Cons

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wave invoicing app

Enable invoice payments by credit card for a pay-as-you-go fee as low as 2.9% + 60¢, and watch the money roll in. Quickly build project estimates and professional invoices that reflect your business. Upload your logo, add customer info, share notes, and set net payment terms with ease.

Our accounting and invoicing features are currently free. If you’re interested in using payroll software, you can start a free 30-day trial when you sign up for Wave. That’s not the case with Wave—it provides one plan with an unlimited number of users, invoices, credit card connections and reports for free.

It can help you manage your bookkeeping, accounting and invoicing processes through a few internal integrations. The fact that Wave lets users create and send unlimited invoices and receive payment straight from the invoices for free makes it perfect for freelancers. Wave’s software is simpler—designed for easy use for freelancers and small businesses—while QuickBooks’ platform is designed to cover complex business needs and grow as your business grows. If you’re a freelancer or other solo service provider, Wave is a better option.

Our money management tools are easyto use separately and more powerfultogether. Unlike a majority of its competitors, Wave does not have a comprehensive mobile app. While it does offer a free iOS and Android app, the app is limited in the number of features and functions. The rate that you charge for your freelancing services can vary, so it’s important to get a grasp of market trends before sending your clients an invoice or quoting a price. Freelance rates can differ depending on experience level and industry. For example, the rate a freelance web developer charges may be different than that of a freelance graphic designer, because each freelancer specializes in a different area.

A common issue when invoicing in Microsoft Word, Excel, or other DIY solutions is making calculation errors. Wave’s invoicing software for small businesses removes the worry of making these errors because calculations are done for you, including the taxes. The Wave app lets you easily generate and send invoices to your clients wherever and whenever you need to. I look at the dashboard and know how many invoices are on the way, when they should be paid, and the average time it takes someone to pay. It keeps me on track and takes a lot out of my hands.

Bank payments(ACH/EFT)

Then answer questions from a drop-down menu about the direction you want to concentrate on—invoicing, accounting or payroll—and you are directed to link financial accounts. With Wave’s web-based invoicing software, you can create and send invoices for your business in just a few clicks from your computer. All you need is an Internet connection and a browser! If you’re on-the-go, you can also send invoices from your phone or other mobile device using the Wave app. If you’re a small business owner in search of free, cloud-based accounting software, Wave Accounting is worth considering. This is particularly true if you don’t have much accounting experience and would like an easy-to-use, fully functional tool.

Apply to accept online payments

They get the flexibility of paying you via credit card, bank payment, and Apple Pay; you get a reputation as a polished professional. When everything is neatly where it belongs, tax time is simple. Wave’s smart dashboard organizes your income, expenses, payments, and invoices. Like most types of software, the best invoicing software programs offer many levels of security. With a Wave Pro subscription, you’ll have recurring billing and other automation features. Schedule everything, from invoice creation and invoice sending, to payment collection and overdue payment reminders.

  1. The fact that it is free makes it a great option for those just starting out or those who want to keep their overhead as low as possible.
  2. Deposit times may vary due to processing cutoff times, third party delays, or risk reviews.
  3. While users never pay startup or monthly fees, Wave does charge a credit card processing fee of 2.9% plus 30 cents per transaction for most cards.
  4. While Wave offers a basic inventory feature, it does not track stock within the software.
  5. Unlike a majority of its competitors, Wave does not have a comprehensive mobile app.
  6. Add a “Pay Now” button on invoices and you will automatically be able to receive Apple Pay, credit card payments and bank transfers.

Invoicing software that makes you look good

It’s one of the only truly free options on the market and can allow you to manage your accounting processes in one convenient place. While the invoicing platform is not easy to integrate with popular third-party payroll apps like Gusto or OnPay, Wave does have its own payroll software. Small businesses that plan to hire employees at some point might need to change accounting software systems in the future or upgrade to Wave Payroll. Set up recurring invoices and automatic credit card payments for your repeat customers and stop chasing payments. Wave Accounting offers free software, meaning you won’t need to submit a credit card or payment information to use it.

wave invoicing app

How Wave Accounting Stacks Up

While Wave is free to use, it doesn’t offer multiple income statement plans to increase its functionality. It lacks some of the useful features you may find in other accounting software, such as project management, time tracking and inventory management. Approval is subject to eligibility criteria, including identity verification and credit review. Payments are a pay-per-use feature; no monthly fees here! Your deposit times may vary based on your financial institution. All payments are subject to a risk review and periodic credit risk assessments are done on business owners because we need to cover our butts (and yours).

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