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Wave invoice template for small businesses

picture slicing bookkeeping expenses by 50 just by automating your accounting tasks with wave is entirely possible even better it's free but how does wave compare to products like books and Zoho books Let's jump in hey everyone this is Jeff budiak with software connect the trusted source for software reviews research and recommendations we've analyzed dozens of Accounting Solutions wave included we've assessed their user friendliness scalability and of course how well can it automate accounting tasks for more reviews on small business accounting software remember to subscribe to our Channel also be sure to check out our Rondo page that link is in the description below ing to a 2023 Forbes article you can cut yearly expenses from five thousand forty dollars to just two thousand four hundred and eighty dollars by opting for software over a traditional bookkeeper while the Forbes example cites a cost of 200 per month or two thousand four hundred and eighty dollars per year for bookkeeping software it's worth noting that wave's primary accounting tools are entirely free this means you can potentially save even more than the Forbes estimate wavesense automated reminders for past due invoices offers unlimited bank and credit card connections and sets up reoccurring billing for repeat customers wave is a free Cloud hosted software that uses Double Entry accounting we'd love to see this in software the double entry method helps you minimize errors and create basic reports wave is best for Freelancers the way the counting module is free which is quite attractive for solopreneurs wave is approachable for non-accountants featuring app guidance to explain common bookkeeping practices it's also good for small businesses with 10 or fewer employees wave reduces manual bookkeeping costs no more paying accountants to review your AR send invoices then push out past due notices instead it automates this workflow freeing up your small team to tackle growth opportunities wave is a better fit for service orientated businesses many service providers operate on tighter margins in the early stages so waves free plan can put them at a significant Advantage the platform also makes it simple to create and adjust custom estimates for clients negotiations finally the wave offers basic Inventory management it's limited compared to Zoho books which allows you to enter stock on hand let's get into some of the pros Wave Accounting is 100 free but you'll have to pay transaction fees to collect online payments and send payroll these transaction fees are slightly higher than QuickBooks online but QuickBooks Online doesn't have for a free plan with wave you get unlimited income and expense tracking you can also send unlimited invoices to as many clients as you want in comparison xero's most basic plan only allows you to send up to 20 invoices and five bills a month it also offers multi-company support you can maintain up to 15 business profiles individually in one wave account with QuickBooks Online each company has its own paid subscription wave isn't without its cons though wave has minimal invoice customization you only get three templates to choose from compare that to Zoho books with 16 templates waves inventory management capabilities are basic making it less suitable for businesses with extensive inventory needs like xero accounting wave does not have a support phone number if you encounter issues with Zoho books it's easy to call customer service Monday through Friday the invoicing and accounting apps are free wave payments charges 2.9 percent plus 60 cents per credit card transaction American Express transactions and Bank payments incur separate fees waive payroll charges forty dollars a month for Tax Service dates and twenty dollars a month for self-service dates add six dollars to each active employee to get an idea of what you'll pay for this service wave payroll is more affordable than QuickBooks payroll core plan which is 75 a month plus five dollars per employee customers can pay instantly through credit cards Bank payments or Apple pay you'll generally receive credit card payments within one to two business days Bank payments take one to seven you can also integrate wave with PayPal and square through zapier one important note waive payments only work online there's no integration with credit card readers and while it offers Apple pay it doesn't currently support Google pay use waves invoice reminder to email customers when payments are due automatically you can also establish reoccurring billing for repeat customers switching between automatic and manual billing is simple as is setting up auto pay all of this works together to help you manage your cash flow and avoid chasing after late payments wave only provides basic invoice customization you have three styles to choose from but it's easy to add your logo change the accent color and show columns for certain details wave has fewer reports than QuickBooks online with over 40 at its most basic subscription plan this isn't surprising Wave Accounting is free after all in terms of report customization again you're pretty limited zero for example lets you use column formulas within the reports to get more meaningful data in wave you can only change the account type date range and accrual versus Cash basis so that's wave in a nutshell overall I give it an 8.3 out of 10 for its unlimited transactions free plan and multi-company support check out more Accounting Solutions like wave on our Roundup page for the best accounting software we list the top options out there today like QuickBooks online and Zoho books head over to our video reviewing the Zoho books for more on that I want to hear your thoughts on Wave love it don't love it let us know in the comments if you're ready to explore more accounting options connect with our team of software experts click on the link in the description below or visit softwareconnect.com to get started thanks again see you 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