From here you can set the import status for each account and assign specific accounts as personal or for a business. The Banking section is a hub where you can digitally connect to your personal and business bank accounts. For “regular” people, the rest of the app looks like accounting, but for me, the accounting features seem a bit light and lack some of the robustness and detail of competitors like QuickBooks and Xero. ![]() But maybe this is because I used to be an actual accountant at a large business, so I expect more accounting-friendly features. I expected more from the accounting section, as Wave is an accounting app first. You can view transactions and your chart of accounts and add manual journal entries and set accounting starting balances here. The meat of your Wave experience flows through the Accounting section. Features here are focused on creating and tracking bills and vendors. Here you can manage bills, receipts and vendors. The Purchases section is focused on your business expenses. The newest feature here is Checkout, currently in beta, which allows you to integrate a shopping cart solution on your website. The Sales section helps you manage estimates and invoicing, recurring invoices, customers and customer statements, your products and services offered, and customer payments. You can also access account and business settings and manage integrations with PayPal, Shoeboxed and Etsy, along with activating Wave Payments. Here you can get a quick glance at bank and credit account balances, a graph of your business income and expenses, a view into upcoming payables and receivables, along with past due bills and receivables, a high-level net income snapshot and a look at business expenses over the last month or year.įrom the dashboard, you have a menu of additional views to manage your sales, purchases, accounting, banking and payroll, as well as to view reports. How Wave worksĪt Wave's core is the account dashboard. It even supports VAT taxes, something most U.S.-focused accounting programs leave out. One useful feature for online and international businesses is its support of multiple currencies and international banks. (Though part of the free app, payroll requires a fee.) Wave keeps it to the basics and offers income and expense tracking, business reports, integrated invoicing (payments require a fee), receipt scanning and payroll. Wave's flagship product is its free Wave Accounting online bookkeeping and account app.
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