One downside is there’s no free plan, but you can take the software for a spin for free wave accounting alternative free for 30 days. There are four monthly plans to opt for, ranging from $30 per month to $200. In terms of functionality, there is a good deal of invoicing features, online payments, expenses, estimates, and reporting features.

If you’re frustrated with Wave Accounting, consider switching to Bookkeeper360 instead of hiring an accountant, which would only add to the manual workload. On top of that, QuickBooks has more payment methods than your current accounting software, Wave. QuickBooks offers similar features to Wave Accounting but at a lower price, meaning you don’t need to spend hefty money. You don’t even get an annual subscription for a premium plan.👎Customer support is limited to email and chat, as there is no call support. Therefore, you need to choose accounting software carefully that can be a trusted companion on the road to your business’s success.

Pricing is very straightforward; there’s only one paid plan that includes all the features. You’ll also find a wide range of management reports and financial statements that can be used for reporting. Within the Accounting tab, Wave allows you to track transactions, reconcile accounts, and keep a chart of accounts.

Over 300,000 small businessestrust Wave

ZipBooks also includes many features that a good accounting software must have. These features include financial reports, online payments, third-party app integration, invoice creation, and chart of accounts. ZipBooks, a budget-friendly option, provides a comprehensive accounting software package for small enterprises. Beyond its cost-effectiveness, ZipBooks offers features like automatic bank feeds, detailed financial reports, and seamless collaboration with your accountant. It offers a versatile array of features, including bank reconciliation, project tracking, and expense claims. Xero is an ideal platform for businesses seeking not only efficient accounting but also a connected and collaborative financial future.

• One user is supported, although you can add more users at a cost of $11/month per user.
• While Hello Bonsai is a great project management tool that brings together multiple tools, there are other strong task management tools on the market.
• GnuCash is a free and open-source accounting software for small businesses.
• Xero is a wave accounting alternative for businesses of all sizes, including small startups, medium-sized businesses, and even large enterprises.

Like Wave, it offers core accounting features but excels in managing invoices, purchase orders, expense tracking, and online payments. ZarMoney is user-friendly for beginners and includes custom invoicing, thorough bank reconciliation, and detailed financial reports. Riding the crest of the financial technology wave, Wave Accounting made quite the splash when it burst onto the scene as a free accounting software solution for small businesses.

It’s  part of a larger suite of products this company has created, including myPlan and myStaff, which are a financial planning software and HR management software, respectively. On the plus side, some of the higher plans have time-tracking, bill management, project profitability, and inventory management features. The accounting software industry is a competitive one, and there are multiple solutions to choose from. To help you make the best choice for your needs, we’ve reviewed three of our favorite alternatives to Wave Accounting alternatives that offer different levels of complexity as well as price points. The app can send reminders to clients and customers for unpaid invoices, saving you a lot of time and encouraging faster payments.

Wave Accounting Alternatives & Competitors

With ZipBooks, businesses can distribute tasks, monitor team progress with a real-time dashboard, and maintain accurate records of work hours and expenses. User reviews offer valuable real-world insights into the strengths and potential drawbacks of each alternative. Pay close attention to reviews from businesses similar to yours, as their experiences can provide specific insights into how well each alternative caters to your industry’s needs. Consider factors such as customer support responsiveness, ease of use, and overall user satisfaction.

While Wave is a great free app for small businesses, freelancers have their own unique business and accounting needs. While not as well-known as QuickBooks or Xero, the software offers almost all the same features at a much more affordable cost. Add strong mobile apps, excellent customer service, and some of the best invoicing on the market, and Zoho Books becomes a great contender for businesses looking for a Wave alternative. This well-known CRM for freelancers has proposals, client management, and you guessed it – accounting features.

We kindly ask that all discussions on this topic remain within this thread to keep the subreddit organized and focused on a wide array of subjects related to Wave. This post will serve as the central hub for all discussions related to the new pricing model. We want to provide a space where your voices can be heard, your frustrations can be aired, and your questions can be raised. It’s important that we come together as a community to support each other through these changes, sharing insights, advice, and potential strategies to adapt. I’ve thought about Quickbooks but I don’t want to dump a fortune into this. If your business is in its infancy, then you may be better off with a free platform like Wave, instead of allocating a huge chunk of your budget to QuickBooks.

Setting reminders to be sent to clients for payment is the most important feature from wave in my opinion. Also being able to create recurring invoices you you don’t have to do the same thing every week or every month. Pulling out customer statements and sending to your clients gives you points in terms of professionalism. I also appreciate that when Wave stopped operating in South Africa they recommended Zoho and gave us a year of free use of Zoho. ZipBooks is a free Wave alternative that offers essential accounting features to small businesses. Its user-friendly interface and automation capabilities make it an attractive option for entrepreneurs seeking simplicity and efficiency in their financial management.

Scale Your Business

• Its familiarity among bookkeepers and accountants makes it a reliable go-to for businesses needing both flexibility and scalability.
• Its super intuitive interface and budget-friendly price tag made it a favorite for those looking to manage finances without investing heavily in software or the time it takes to learn it.
• The banking feature lets you manage all of your connected accounts, add a new account, or verify your identity to increase payment time, which is done using Wave Payments.

Explore these alternatives with an eye towards enhancing efficiency, ensuring compliance, and fostering growth in your financial operations. However, QuickBooks Online offers better invoice templates and automations, more reports, more developed time tracking, inventory features, a project management feature, and even lending services. Invoicera is a great alternative to Wave because it has client and project management, invoice management, automated recurring expenses, time tracking, and many payment gateways. On the downside, the layout and design of this software is outdated and is more cluttered than the other alternatives we mention. The project management portal especially looks dated and offers very limited features and customization.

It works well for businesses with 1-50 employees, but isn’t designed for freelancers or solo business owners managing multiple projects and clients. Since it lacks a full suite of tools for freelancers, we’ll review Wave and help you decide on the best wave alternatives to manage your freelance business. If you’re a small business owner in search of free, cloud-based accounting software, Wave Accounting is worth considering. This is particularly true if you don’t have much accounting experience and would like an easy-to-use, fully functional tool. It’s one of the only truly free options on the market and can allow you to manage your accounting processes in one convenient place. The banking feature lets you manage all of your connected accounts, add a new account, or verify your identity to increase payment time, which is done using Wave Payments.

Sage is an ideal pick if you want to improve your company’s financial performance, accelerate growth and practice detailed financial tracking across multiple departments. The more complex your operations, the more likely you’ll need software like Sage. We have financial relationships with some companies we cover, earning commissions when readers purchase from our partners or share information about their needs. Our editorial team independently evaluates and recommends products and services based on their research and expertise. Some of the features you’ll find with Sage Accounting include invoicing, estimates, expenses, billing, snap receipts, accounts payable and receivable, and cash flow forecasting.

In 10 years, Wave has grown to more than 250 workers with more than 500,000 clients of entrepreneurs and freelancers around the globe. Wave’s mission is to empower small business owners and believe in their journey and ability to change the world. Mobile applications are available for Wave Receipts and Wave Invoices, which will allow you to scan receipts and send an invoice on the go. With the Plus and Advanced plans, you gain access to over 60 reports that give you an overview of your business’s financial health. You can use this free trial to understand its key features, get a feel of the app, and see if it’s worth a shot.