Wave is compatible with cloud, and designed to bring the amalgamation of speed and accuracy in the accounting of small/medium businesses. It is compatible with Mac, Windows and Linux, and we also got some positive results while testing it on various latest browsers including IE, Firefox, Chrome, Safari, etc. One of the reasons of its popularity, is its futuristic mobile application. It has an option to view simple cash flow analysis along with a notification center to keep the user updated with all the happenings in his/her business. The software has been used by more than 1.5 million users, and has won awards too.
Features of Wave
Navigation and Setup: Unlike other similar software, Wave seems to be too quick, if it is about setup. Right after providing the basic information about your organization, you are all set to view its “Get Started” page. You can also get to see a tutorial video that appears on the start up page, which helps you understand its basic features. The software seems to be extremely easy to use, as it has quick tabs to navigate to the dashboard, payroll, accounting reports and accounting etc. We tried importing CSV files in it, and did that within no time by following its step by step instructions. Overall, the applications performs well, but we faced a little bit of problem while adding sales tax, right after downloading it on our iPhone.
Reports and Charts: Wave is majorly developed for management of accounts payable and receivable and banking transactions. The payment methods can also be activated on this software, which let your customers to make payments through all the major credit cards. If you are looking for an overview of your organization’s accounting or journal entries, then it lets you view the graphical charts for the same. Its “Pro Services” option impressed us too much, as it was really helpful to locate all the accounting professionals in our area.
Double Entry Mechanism and Banking: The double entry mechanism of this software has been created magnificently. It helped us easily add double entry transactions, which are not possible to add in the conventional income and expense tools. In order to access general ledger or general entry function, you can navigate to Journal transactions option, mentioned under the “Settings” tab. Wave helps you stay connected with your bank, and can save tons of your precious time. In other words, it imports your organization’s financial transactions from your bank a on daily basis, which is too convenient for expense management.
Wave’s accounting, personal finance and invoicing can be used for free.
Alternatives of Wave