Wave Payments is an add-on payment processing service that allows your business to accept credit cards, debit cards, and ACH payments. This is a pay-per-use service with credit card processing rates starting at 2.9% + $0.60 per transaction and ACH rates set at 1% per transaction. Wave “has always been and always will be free,” a structure that the company plans to maintain following its acquisition by H&R Block. The company generates revenue from its credit card processing, Wave Payroll, and bookkeeping services and uses this revenue to keep the software completely free.

Wave helps make sure you’re paid for your hard work. Make it easy and convenient for your clients to pay by offering options like bank transfers, credit cards, and online payments. And even better, get rid of late payments with Wave’s Pro Plan features like automated reminders and recurring invoices. With Wave, you have access to expense tracking, bank reconciliation, and reporting to help you manage your finances. Wave also has some of the most appealing invoices on the market.

1. Our (non-judgmental) team of bookkeeping, accounting, and payroll experts is standing by to coach you—or do the work for you.
2. Additionally, QuickBooks does not have a free plan like Wave, with prices starting at $30/month.
3. Learn more about changing subscription periods and plan types, and how to cancel your Pro subscription in our Help Centre.

Yes, switching from other accounting apps or products to Wave is easy! See our step-by-step guide on how to import bookkeeping data into Wave here. Connect your bank accounts in seconds with the Pro Plan.

Wave has helped over 2 million North American small business owners take control of their finances. Wave has helped over 2 million small business owners in the US and Canada take control of their finances. Please refer to our Advertising Disclosure to learn more about how we earn compensation from affiliate partnerships and how we maintain our independent editorial integrity.

Bank payments(ACH/EFT)

The quick summary allows you to stay in control of your business finances, including a task list of outstanding items. The vendors that appear on this list were chosen by subject matter experts on the basis of product quality, wide usage and availability, and positive reputation. Let us know how well the content on this page solved your problem today. All feedback, positive or negative, helps us to improve the way we help small businesses. One click on the “Review & Pay” button in your invoice email.

Plans to makeyour plans happen.

You’ll have all the information you need to ensure you don’t miss out on any tax incentives that could grow your business, minimize taxes, and help you keep more of your money. We provide different levels of support, depending on the plan and/or the add-on features you choose. Wave really is a free accounting software option for small businesses.

If Wave sounds like it might be a good fit for your business, give it a try! Make it easier for your customers to pay you through a Wave invoice, right from their bank accounts. Wave’s online payments feature lets you accept bank payments, quickly and easily. If you operate a larger business and need advanced features, give Xero a look before signing up for Wave. Xero has more advanced features, hundreds of integrations, and also supports unlimited users.

Or even better, with our Pro Plan, safely hand off your books to your accountant by adding them as a limited user. Since Wave uses accountant-approved, real double entry accounting, your accountant will have all the information they need. Merchant Maverick’s ratings are editorial in nature, and are not aggregated from user reviews. Each staff stock turnover ratio formula reviewer at Merchant Maverick is a subject matter expert with experience researching, testing, and evaluating small business software and services. Merchant Maverick’s ratings are not influenced by affiliate partnerships. Wave does not integrate with QuickBooks, but if you want to connect QuickBooks and Wave you can use Zapier as a solution.

You’ll need to answer a few questions about your business and provide us with a little more information about yourself in order to get approved to accept online payments. 1 Payouts are processed in 1-2 business days for credit card payments and 1-7 business days for bank payments. Deposit times may vary due to processing cutoff times, third party delays, or risk reviews. This free, easy-to-use accounting software is great for small businesses, especially for eCommerce, but lacks in project management, budgeting, and inventory tracking.

Accept credit cards

Track customer views and invoice payments in the Wave dashboard so you always know where you stand with sellers, property managers, buyers and renters. They get the flexibility of paying you via credit card, bank payment, and Apple Pay; you get a reputation as a polished professional. When everything is neatly where it belongs, tax time is simple.

Apply to accept online payments

Wave also supports multiple businesses, additional users (with four permission levels), and personal finance tracking. Make it easier for your customers to pay you right from their bank account. Our money management tools are easy to use separately and more powerful together.

“Wave invoicing makes your life a whole lot easier and takes that worry off you. I’ve tried Quickbooks—it’s a bit more complicated and technical, and takes more time to set up.” Our (non-judgmental) team of bookkeeping, accounting, and payroll experts is standing by to coach you—or do the work for you. By providing feedback on how we can improve, you can earn gift cards and get early access to new features. Wave discontinued its integration with PayPal in 2020 — however, that doesn’t mean Wave doesn’t work with PayPal. For businesses that want to connect Wave and PayPal, Zapier is a viable option.

Negative Wave Reviews & Complaints

Have an eye on the big picture so you can make better decisions. Our accounting reports are easy to use and show monthly or yearly comparisons, so you can easily https://intuit-payroll.org/ identify cash flow trends. Wave’s smart dashboard efficiently organizes your income, expenses, payments, and invoices for fast and accurate tax preparation.

In the meantime, though, check out these top Wave alternatives to fully explore your accounting software options. Like Wave, QuickBooks Online is easy-to-use, cloud-based accounting software. QuickBooks Online boasts a robust set of features, including advanced options like project management and inventory features you won’t find with Wave. QuickBooks Online also has hundreds of integrations, connecting your accounting solution with other small business software and apps.