I’ve been using Wave Accounting for a few months now, and it does the job that I need it to do. When I started taking my business seriously, I needed an accounting system.
My requirements for the accounting system:
- Easy to use
- Provide estimates
- Make invoicesÂ
- Keep track of expenses
I’d say that’s a pretty basic set of requirements for something just starting a business. Anything in this price range is generally $10 – $20 a month. I’d happily pay that much if the system was reliable and could sync with some parts of my business. I provide website maintenance packages that can be billed monthly or yearly. It’s peace of mind for my clients that I take care of the technical requirements of maintaining a website, but with traditional accounting systems, it can be a pain to manage since I would have to bill for this service every month.Â
I chose Wave Accounting. https://www.waveapps.com/Â
With Wave Accounting or just Wave, I was able to get more added benefits that are helpful for me. Invoicing can take a lot of time, and staying on top of recurring invoicing and payments is a task I did NOT want to do every month. Luckily Wave, for me, can send automatic invoices and take payments for those invoices every month.
Additional benefits of using Wave:
- Low cost (No monthly fees, just transaction fees)
- Set up recurring invoices
- Take payments online using credit cards or bank transfers
Wave is almost free to use. I don’t pay any monthly fees. I only pay transaction fees, which I would have to anyways if I were using some other system. You can read more about wave pricing here, https://www.waveapps.com/pricing.
No, it doesn’t do everything I want. At some point, I will need to upgrade. I’m not sure what that looks like at this point. I will need more automation and syndication between Wave and my business. I will likely be looking at a combination between Zapier, WordPress, and Wave. When I need it, I’ll write an updated article about it.
In short, I highly recommend using Wave for your accounting system. It saves me a lot of time and helps me run my business better.
