Wave Invoicing Review 2024: Features, Pros & Cons

While users never pay a monthly fee, they will have to pay a credit card processing fee of 2.9% plus 30 cents per transaction if they use Wave to process credit card payments. This fee can vary depending on the type of card the customer uses. Whether you are struggling with sending out invoices on time, keeping track of payments or organizing tax information, Wave helps business owners get a handle on their accounting department at no monthly cost.

What is Invoice Software and Why Does Your Small Business Need It?

• The most basic plan, Simple Start, costs $30 per month, and the top-tier Advanced plan costs $200 per month, which is a sizable investment if you’re running a business on a tight budget.
• Create beautiful invoices, accept online payments, and make accounting easy—all in one place—with Wave’s suite of money management tools.
• The rich text element allows you to create and format headings, paragraphs, blockquotes, images, and video all in one place instead of having to add and format them individually.
• The quick summary allows you to stay in control of your business finances, including a task list of outstanding items.
• It’s not bad at all, but several services are better, with Zoho Invoice in particular coming out ahead – in fact, it supports every feature mentioned here.
• While Wave offers a basic inventory feature, it does not track stock within the software.
• However, the free Zoho Invoice tool alone could meet many light-use small business billing scenarios.

However, like most products with free plans, Wave has its limitations, especially compared to more scalable small-business accounting software. Although Wave’s paid plan offers additional features, it’s still waves invoice login missing some more advanced capabilities, like built-in inventory tracking and audit trails, that growing businesses might need. The drawback of just offering one plan is that it limits room for growth.

To download the app:

• Between the app and the payment process—I can’t tell you the hours it’s saved, and even the headaches that have gone away because of it.
• All payment information automatically syncs with the free Wave Accounting software included in your service, making accounting easy.
• Consult with your local tax department to determine which tax rate you’ll need to apply to your invoice.
• Invoice Home positions itself as an easy, no-frills solopreneur invoicing solution.
• In addition to its accounting software, Wave offers paid services, including Wave Payments, Wave Payroll and Wave Advisors for bookkeeping support and accounting coaching.

Similar to other reputable cloud-based accounting software products, Wave encrypts the data you share with it and monitors its server facilities 24/7. Compared with free software like Wave, QuickBooks plans are expensive. The most basic plan, Simple Start, costs $30 per month, and the top-tier Advanced plan costs $200 per month, which is a sizable investment if you’re running a business on a tight budget.

You’re our first priority.Every time.

Wave supports its own first-party payment processing, but won’t allow any third-party integrations to process payments through the Wave platform. Wave offers a decent range of invoice creation tools and abilities. While the number of core templates is a little low at just three, you’ll be able to add a company logo, customize colors, and include customer notes. The invoices can calculate taxes and create estimates, while offering multi-currency support – all useful features for a versatile invoicing service.

Keep track of your business health

• Naturally, Square Invoices aims to make billing in-person customers seamless for service companies on the go.
• “It’s not just a cool piece of software, it is giving peace of mind to people.” You deserve to know your taxes aren’t something you have to sweat over the entire calendar year.”
• Invoicing clients is a crucial part of running any service-based small business.
• We provide different levels of support, depending on the plan and/or the add-on features you choose.
• Log into your PayPal account and view invoices marked “Paid” rather than simply seeing lump sum deposits.
• 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.
• Manually creating invoices in a spreadsheet or word document is inefficient.

While its limitations do not make it an ideal solution for every business, Wave is a particularly appealing option for freelancers who are just starting out. Wave users can accept credit card payments over the phone, online or in person. Add a “Pay Now” button on invoices and you will automatically be able to receive Apple Pay, credit card payments and bank transfers.

Be your own accountant, thanks to Wave’s automated features, low cost, and simple interface. One advantage over typical payment processors is that money paid via PayPal Invoices lets you easily track invoice status. Log into your PayPal account and view invoices marked “Paid” rather than simply seeing lump sum deposits.

One of Wave’s most popular invoicing features is the ability to create user-friendly customizable templates. Not only can you customize the invoices to fit your brand, but you can also set up recurring invoices and automate credit card payments for repeat customers. Once invoices have been sent, you can easily track the status of each invoice to see if they are viewed, unpaid or Overdue.

The software also does not provide project management features. Users are not able to assign estimates to projects or track income and expenses by project. In addition to creating invoices, Wave gives users the ability to create estimates for potential clients. Once those estimates are approved, they can easily be transformed into invoices with the click of a few buttons. An invoice by Wave won’t add tracked hours, won’t display discounts, and doesn’t allow file attachments. This makes Wave ultimately a middle-of-the-road service for invoice creation specifically.

• Xero lets you add unlimited users in all plan tiers and, similar to QuickBooks Online, can grow alongside your business.
• Wave’s accounting software is built for small business owners.
• Wave’s business reports are on par with some of the top invoicing solutions companies for small businesses.
• Don’t expect extensive accounting, automation, or scalability here.

Simply enter your email address after completing the steps to generate an invoice and you’ll receive a PDF version of the invoice that can be sent to your customer. You can also download the PDF copy of your invoice to be printed out and mailed to customers. With a Pro Plan subscription, you can connect your bank account with Wave and automatically import your transactions. When everything is neatly where it belongs, tax time is simple.