Wave Accounting Platform Software
Overview
Many small businesses juggle spreadsheets, scattered receipts, and manual data entry. Wave unifies invoicing, bookkeeping, expense tracking, receipt scanning, payments, and payroll (where available) into a single platform with mobile support. Its “core is free” model lowers barriers to entry, while paid modules let businesses scale incrementally.
What Is Wave Accounting?
Wave is a financial software suite offering free accounting, invoicing, and expense tracking tools. On top of that, Wave provides optional paid add-ons such as Payments (credit card, ACH), Payroll (in markets supported), receipt scanning, and bookkeeping advisory services. The goal is to let small businesses manage finance operations with minimal cost while accessing advanced features as needed.
Key Features of Wave Accounting
- Unlimited invoices, estimates, bills, expense tracking
- Double-entry bookkeeping
- Bank & credit card connections and transaction import
- Receipt scanning via mobile app (OCR)
- Custom invoice templates, recurring billing, reminders
- Integrated payments (credit card, ACH, Apple Pay)
- Payroll (self-service or full-service, where supported)
- Reporting & dashboards (Profit & Loss, Balance Sheet, Cash Flow)
- Add-on advisory / bookkeeping services
- Unlimited users, collaboration with accountants
- Security and backups by design
Who Should Use Wave Accounting
- Freelancers, contractors, microbusinesses
- Startups and small businesses with basic accounting needs
- Businesses wanting to minimize fixed accounting software costs
- Teams that anticipate growing into payroll or payments
- Owners wanting to handle bookkeeping in-house or with minimal help
Pricing & Plans
Wave Accounting Pricing & Add-Ons
Starter (Core)
Free- Unlimited invoices, estimates, expense tracking
- Accounting, reporting & dashboards
- Connect bank & card accounts
- Integrations & unlimited users
Pro
Auto Features & More- Auto-import bank transactions
- Automatically merge & categorize
- Unlimited receipt scanning
- Invoice reminders, priority support
Payroll (Add-On)
Depending on state- Self-service payroll (in most states)
- Full-service payroll (in supported states)
Unlimited Receipts (Add-On)
Optional- Unlimited receipt scanning (OCR)
- Mobile app uploads & integration
Wave Advisors
Service Add-On- Dedicated bookkeeping support
- Monthly statements, tax prep help
* Payroll pricing depends on state and service type (self-service vs full).
* Credit card payments: 2.9% + $0.60 per transaction / Amex 3.4% + $0.60.
* ACH bank payments: 1% or $1 minimum.
* Add-on pricing subject to change; check Wave’s official pricing page.
Pros & Cons of Wave Accounting
Final Verdict
Wave is one of the most compelling accounting platforms for small businesses and freelancers. Its free core offering provides essential bookkeeping, invoicing, expense tracking, and reporting without forcing users into a paid plan. Then, when you’re ready, modular add-ons let you expand into payments, payroll, or bookkeeping help. For early-stage businesses, consultants, and microbusinesses, it’s a smart, low-risk choice. If your operations grow to require advanced features or global payroll, you may eventually outgrow it, but Wave gives you a strong foundation.
Manage Your Finances with Wave
Start free — upgrade when you need payments or payroll.
FAQs About Wave Accounting
Yes — the core accounting, invoicing, expense tracking, reporting, and bank/account connections are free.
