Best Invoice Software for Small Businesses Wave Financial

Entry-level plan limits bills and invoices to five and 20 per month, respectively. More than 750 app integrations, including live, in-house bookkeeping. You’ll receive the money in your account in 1 business day (Canada), or 2 business days (US)1. After creating your account, everything is set up so you can get started. Your data is always available, and backed up for extra peace of mind.

Customizable billing

According to our research, it’s second only to Freshbooks for features, though QuickBooks ties with Wave for features as well. 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. Regardless of which options you’re using for payments, the core invoicing ability that Wave offers remains free.

Speed up cash flow with online payments.

Wave Payments also connects with Wave Accounting for reporting features. Small businesses can view a breakdown of deposits as well as reports on paid and unpaid invoices, which payments are still processing, and more. Most accounting software is cloud-based, https://www.quickbooks-payroll.org/ meaning it’s accessible anywhere there’s an internet connection. If this level of access is important to you, be sure to look for platforms that have robust mobile websites or accounting apps to help you manage your money from wherever you are.

Client Payments

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. Instant Payout is an additional service offered by Wave subject to user and payment eligibility criteria. A 1% fee is applied to the amount you withdraw from your available balance, in addition to regular processing fees. Get paid in as fast as 1-2 business days1, enhance your brand, and look more professional when you enable payments. Customers can click a Pay Now button on invoices and pay instantly by credit card, secure bank payment (ACH/EFT), or Apple Pay.

For small businesses any larger than that, however, Wave is limited. Unlike competitors, Wave doesn’t offer many advanced features to increase the software’s functionality. It’s also missing an audit trail and third-party integrations.

1. The invoices can calculate taxes and create estimates, while offering multi-currency support – all useful features for a versatile invoicing service.
2. Consider it if you’re a small business with simple accounting needs that are generally concentrated in sending invoices and collecting payment.
3. Instant Payout is an additional service offered by Wave subject to user and payment eligibility criteria.
4. For example, the rate a freelance web developer charges may be different than that of a freelance graphic designer, because each freelancer specializes in a different area.
5. Zoho Books offers a robust free plan, along with a range of paid plans that feature workflow automation.

Invoice Delivery

QuickBooks offers a robust set of tools that far outweigh Wave’s capabilities—but that could be a drawback for small, simple businesses. The platform offers enough features and add-ons to grow with your business, but it may be more complex than you need if you’re a one-person shop. 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.

Enable invoice payments by credit card for a pay-as-you-go fee as low as 2.9% + 60¢, and watch the money roll in. Create and send customized invoices, estimates, and receipts in seconds. Track the status of your what is public accounting invoices and payments so you can stay on top of your cash flow. Can manage multiple businesses for free under one account; lacks project tracking tools, industry-specific reports and transaction tracking tags.

For businesses that carry inventory, QuickBooks Online offers strong inventory tracking that alerts users when the inventory gets low. While Wave offers a basic inventory feature, it does not track stock within the software. Unlike some competitors, none of Zoho Books’ plans put a limit on billable clients, and even its free plan lets you send up to 1,000 invoices per year. On top of that, the free option offers a customer portal, automatic payment reminders, mileage tracking and the ability to schedule reports. Higher-tier plans let users automate workflows and track project profitability, and give access to advanced inventory and analytics tools.

Thanks for using Wave to help you stay more in control of your business while on-the-go. You’ll always know who you need to communicate with and about what, so you can leave a great impression with customers.

While Wave has a lot to offer when it comes to invoicing, know that it’s still slightly less automated than some competitors. This isn’t necessarily a deal-breaker, but it might require a bit more bookkeeping work. The fact that Wave lets users create and send unlimited invoices and receive payment straight https://www.quick-bookkeeping.net/the-advantages-of-the-direct-method-of-cost/ from the invoices for free makes it perfect for freelancers. 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. This app is super helpful, the main issue I have while using it is the lag.

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. 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. The free plan covers a lot of ground in its own right, though. There’s also a mobile app that lets you send invoices through iMessage or add widgets to your iPhone’s home screen so that you can easily access overdue invoices.