Wave

Wave is free accounting software for freelancers and small businesses. It combines invoicing, bookkeeping, and payments in one simple dashboard. The Starter plan is free with no time limit and includes unlimited invoices, estimates, and customers. You can connect bank accounts, track income and expenses, and run tax-ready reports. It uses real double-entry accounting behind the scenes, so the books stay accurate without an accounting background. Over 300,000 small businesses trust Wave. Pro adds automation like receipt capture. Check waveapps.com for current plan details.

Key Features

1. Unlimited Invoicing

Create and send unlimited invoices and estimates with your logo and brand colors. Set recurring invoices and automatic payment reminders.

2. Double-Entry Accounting

Every transaction posts to two accounts, the method accountants trust. A customizable chart of accounts keeps income and expenses organized.

3. Bank Connections

Link bank and credit card accounts to import transactions into your books. Reconcile each one so your books always match the bank.

4. Online Payments

Let clients pay invoices by card or bank transfer right from the invoice. Paid plans drop the per-transaction fee on your first monthly sales.

5. Financial Reports

Generate profit and loss, balance sheet, and cash flow reports in a few clicks. Sales tax and aged receivables reports help at tax time.

6. Receipt Capture

Snap receipts with the mobile app to digitize expenses. Pro plans auto-import and categorize bank transactions to cut manual entry.

7. Multiple Businesses

Run more than one business under a single Wave login. Each company's books stay separate, and the free plan applies per business.

Frequently Asked Questions (FAQ)

What is Wave used for?

Wave is used for small business accounting, invoicing, and payments. Freelancers and small teams track income, send invoices, and run financial reports.

How does Wave make money if it is free?

Wave earns from optional paid services: payment processing fees on invoices, payroll, and Pro plan subscriptions. Core accounting and invoicing stay free.

Is Wave good for freelancers?

Yes. Wave is built for freelancers and businesses with 1–9 employees. Unlimited invoicing and simple bookkeeping cover most solo workflows without accounting knowledge.

Does Wave support inventory?

No. Wave has a basic item list for invoices but does not track stock levels. Product sellers who need inventory should look at other tools.

Can my accountant access Wave?

Yes. You can invite collaborators like an accountant, bookkeeper, or business partner to your Wave account with their own login.

Wave vs QuickBooks — which should I pick?

Wave is free and simpler, ideal for freelancers and tiny teams. QuickBooks offers deeper features like inventory and project tracking but costs monthly. Start with Wave if your needs are basic.

Conclusion

Wave gives freelancers and small businesses free invoicing and real double-entry accounting. It suits owners who want simple books without monthly fees. Payments, payroll, and Pro automation cost extra as you grow. It will not replace QuickBooks for inventory or complex needs, but it covers the basics well. Confirm current plans on waveapps.com before you commit.