With Wave’s web-based invoicing software, you can create and send invoices for your business in just a few clicks from your computer. If you’re on-the-go, you can also send invoices from your phone or other mobile device using the Wave app. Set up recurring invoices and automatic credit card payments for your repeat customers and stop chasing payments. Switch between automatic and manual billing whenever you want. It’s easy to send your invoices created with Wave’s invoice generator. Simply enter your email address after completing the steps to generate an invoice and you’ll receive a PDF version of the invoice that can be sent to your customer.
- Deposit times may vary due to processing cutoff times, third party delays, or risk reviews.
- Freelance rates can differ depending on experience level and industry.
- This is a bit of an oversight that puts Wave solidly below a handful of the top services – including FreshBooks, QuickBooks Online, Xero Invoice, and Square Invoices – when it comes to analytics.
- Set up late payment reminders to automatically email your customers when payment is due (with Wave’s online payments feature or the Pro Plan).
Once invoices have been sent, you can easily track the status of each invoice to see if they are viewed, unpaid or Overdue. All payment information automatically syncs with the free Wave Accounting software included in your service, making accounting easy. That’s not the case with Wave—it provides one plan with an unlimited number of users, invoices, credit card connections and reports for free. While users never pay a monthly fee, they will have to pay a credit card processing fee of 2.9% plus 30 cents per transaction if they use Wave to process credit card payments. This fee can vary depending on the type of card the customer uses.
Every invoice paid means more revenue coming into your business. Create and send professional invoices to your customers in seconds. To create an invoice with our free invoice generator, follow these instructions and you’ll quickly have a professional invoice to send to your customers. Add credit card payments to get paid faster and stop chasing customers with auto-reminders. The fact that Wave lets users create and send unlimited invoices and receive payment straight from the invoices for free makes it perfect for freelancers.
Electronic invoices are created with online invoicing software or other cloud-based services, which makes it easy to automate the invoicing process. Electronic invoices also provide small business owners with professional-looking digital invoices that their customers can pay easily online through a system like Wave’s online payments. One of Wave’s most popular invoicing features is the ability to create user-friendly customizable templates. Not only can you customize the invoices to fit your brand, but you can also set up recurring invoices and automate credit card payments for repeat customers.
- This method of accounting—known as double-entry accounting—ensures account balances are correct and minimizes errors.
- If you’re on-the-go, you can also send invoices from your phone or other mobile device using the Wave app.
- The rate that you charge for your freelancing services can vary, so it’s important to get a grasp of market trends before sending your clients an invoice or quoting a price.
- Yes, switching from other accounting apps or products to Wave is easy!
Does Wave use double-entry accounting?
You can also try out Wave Payroll, a paid service Wave offers for those who want to provide employee payroll through the platform as well. The software also does not provide project management features. Users are not able to assign estimates to projects or track income and expenses by project. In addition to creating invoices, Wave gives users the ability to create estimates for potential clients. Once those estimates are approved, they can easily be transformed into invoices with the click of a few buttons.
The drawback of just offering one plan is that it limits room for growth. While other software solutions have a premium plan that provides advanced features for growing businesses, Wave does not provide more advanced accounting plan options outside of its one free plan. While users never pay startup or monthly fees, Wave does charge a credit card processing fee of 2.9% plus 30 cents per transaction for most cards. This is a typical credit card processing fee that you’ll find on any platform. Wave lets small business owners like you create beautiful invoices, accept online payments, and make accounting easy—all in one place. Wave lets small business owners like you create beautiful invoices, accept online payments,and make accounting easy—all in one place.
Do I have to create a Wave account to use the invoice generator?
Wave offers the best free invoicing software we’ve researched. It’s great for creating and delivering invoices, though the analytics leave a little to be desired, as they don’t support custom reports. Plus, you’ll have to upgrade to the paid plan to access some key functions, including automatic transaction imports. With Wave, you can use dashboards to view cash balances and invoice statuses, or export your accounting reports covering profits and losses, sales tax, cash flow, and more. Exchange rate calculations can be made automatically – a must-have feature for those working with multiple currencies – and it’s also a double-entry bookkeeping program, ensuring credit and debit are properly recorded.
Plus, cut down on bookkeeping—your invoice information flows right into your records. Customize your invoices by choosing from a variety of templates. Then add your logo and company colors to make it look professional and personalized. Yes, switching from other accounting apps or products to Wave is easy! See our step-by-step guide here on how to switch to Wave from Quickbooks.
Easily monitor and keep track of what’s going on in your business with the intuitive dashboard. The quick summary allows you to stay in control of your business finances, including a task list of outstanding items. The Wave app is the mobile companion to your desktop experience, helping you keep tabs on your biz— anytime, anywhere.
Wave Invoicing Review: Features, Pros & Cons
For tax service states, Wave Payroll costs a $40 monthly base fee, plus $6 per active employee or independent contractor. For self service states, Wave Payroll costs a $20 monthly base fee, plus $6 per employee or contractor. If you don’t live in those states, Wave can still help by crunching the numbers to give you the correct tax information and money owed. Since this is less useful, the service will be $20 per month cheaper. Check out more of our invoicing tools that can help you run your business more efficiently. The customer support team is available to users through email and live chat, but not by phone.
See all payments features
While it does offer a free iOS and Android app, the app is limited in the number of features and functions. Keep tabs on your cash flow, know who owes you and who you owe, and access important reports to stay in the know—even on-the-go, with our mobile app, the convenient companion to your desktop experience. Make bookkeeping and tax time easy with solutions that are affordable, small biz friendly, and—dare we say—fun to use. Your invoicing and payment information are connected to Wave’s accounting feature, helping you stay organized. Breathe a sigh of relief knowing there’s no need to nag your customers.
Get more time for what you love
Sign up for a Wave account so that everything flows right into your accounting records and your bookkeeping will be done for you. You can mark invoices paid on the spot, so your records are instantly up to date. Accept payments through credit cards and bank payments to get paid even faster, for a low, pay-per-use fee with our online payments feature. Wave supports its own first-party payment processing, but won’t allow any third-party integrations to process payments through the Wave platform.
Bank payments(ACH/EFT)
With a Wave Pro subscription, you’ll have recurring billing and other automation features. Schedule everything, from invoice creation and invoice sending, to payment collection and overdue payment reminders. We provide different levels of support, depending on the plan waves invoicing and/or the add-on features you choose.
The fact that it is free makes it a great option for those just starting out or those who want to keep their overhead as low as possible. Companies that want to combine project management tasks in their accounting software or are looking for software with a great mobile app that they can use on the go will probably want to look for other options. Set up late payment reminders to automatically email your customers when payment is due (with Wave’s online payments feature or the Pro Plan). Wave is a solid option for invoicing, standing out for its low pricing, great range of software functionality, and good customer service. But it’s not the only option, and quite a few others offer more complex invoice creation abilities, or more comprehensive reporting and analytics. One of Wave’s competitors, FreshBooks, offers loads of features at very low pricing.
Wave offers a handful of integrations with other types of services that small businesses are likely to need. The Wave app lets you easily generate and send invoices to your clients wherever and whenever you need to. Plus, customize your invoices for any day of the week, month, or time zone, and with any frequency.
Wave’s payroll service’s functionality is defined by whether you live in a state that allows a third-party service to file for you, or if you need to do it yourself. Wave includes a billing portal, so you can easily keep track of your revenue. With everything in one place, there’s no need to endlessly research solutions or stare at spreadsheets until your eyes glaze over. Plus, our features are designed to work together, meaning less to worry about. “It’s not just a cool piece of software, it is giving peace of mind to people. You deserve to know your taxes aren’t something you have to sweat over the entire calendar year.”