Best Invoice Software for Small Businesses Wave Financial

Then add your logo and company colors to make it look professional and personalized. Wave’s support options include a Help Center, with resources that can be browsed by categories including Accounting, Invoices & Estimates, and Payments, among many more. 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. Support for non-paying users is limited to the chatbot and self-service Help Center. Only integrates with in-house apps, like Wave Payments and Wave Payroll; does not integrate with card readers for in-person payments.

Is Wave good for freelancers?

If you do want live support, you’ll need to invest in an Advisor or paid service. Bank data connections are read-only and use 256-bit encryption. Wave is PCI Level-1 certified for handling credit card and bank account information. When everything is neatly where it belongs, tax time is simple. Wave’s smart dashboard organizes your income, expenses, payments, and invoices.

• It also integrates with other Wave software to create a solid product for businesses that are looking for a simple way to invoice customers and get paid.
• It also complies with accounting standards and uses double-entry accounting, which can help ensure accuracy.
• Money is typically deposited into accounts within two business days and all payments are recorded to have you set when tax season rolls around.
• Users are not able to assign estimates to projects or track income and expenses by project.

Easily manage accounts receivable

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. Every invoice paid means more revenue coming into your business. Create and send professional invoices to your customers in seconds. Yes, switching from other accounting apps or products to Wave is easy!

FreshBooks is an affordable option for freelancers and small service-based businesses that operate mostly on the go. After providing a few basic details about your business — name, type, currency you use, address — you’ll have wave invoicing app instant access to your account. Includes tools that help automate the reconciliation process and auto-categorizes transactions for you in the Pro plan, but you can’t set up your own bank rules; no global search function.

Make bookkeepinga breeze

Plus you can add checkout links on your business website and social media profile so customers can check out without having to wait for an invoice. Wave Payments is an online payment processing and invoicing software that lets businesses accept online payments, bill customers through email and keep track of income records. Because it is free and only charges processing fees, it’s an affordable option for small businesses. It also integrates with other Wave software to create a solid product for businesses that are looking for a simple way to invoice customers and get paid. In addition, Wave’s mobile app lets you send invoices and track payments on the go. The app offers a receipt scanning feature as well, but you have to pay a subscription fee to access it.

More customers may seem like a good problem to have, but it can also lead to more stress — especially when managing their data across different point solutions. If you feel this pain, it’s time to scale your operations by unifying billing, payments and collections for all sales channels inside your CRM system where it links directly to your customer data. Square Invoices allows you to send digital estimates and customized invoices. It includes real-time invoice tracking and automatic reminders. With the Plus program, you can set up payment schedules and batch invoicing and stay organized with a project workspace.

• Invoice and billing software calculates charges, rates usage, applies taxes, generates and sends invoices, collects payments, and runs collections for your business.
• If you feel this pain, it’s time to scale your operations by unifying billing, payments and collections for all sales channels inside your CRM system where it links directly to your customer data.
• These ratings are meant to provide clarity in the decision-making process, but what’s best for your business will depend on its size, growth trajectory and which features you need most.
• Set up late payment reminders to automatically email your customers when payment is due (with Wave’s online payments feature or the Pro Plan).

Spend more time onwhat you love

After inputting information and trying to click done at the bottom it will not register unless I swipe the keyboard away. Clicking done in the top right corner works half the time, with it also glitching and forcing me to start over everything by taking me back to whatever page I was on prior to creating a new contact or new invoice. The import from contacts button does not work at all and the layout to get to customers invoice is great after learning where it is. Not being able to see or input the expenses unless I pay for the quick receipt plan in app is kind of a bummer.

As small businesses digitize and scale, the number of point solutions they must integrate with multiplies, from sales software to marketing automation to finance solutions. Wave is a fast-growing accounting software designed for small businesses, particularly those in marketing, advertising, and IT. It’s owned by parent company H&R Block and offers a suite of money management tools. FreshBooks is an online accounting and invoicing platform that provides invoicing, time tracking, expense tracking, report generation, and more. It’s geared toward small businesses, self-employed business people, and freelancers across a variety of industries such as information tech, construction, legal, marketing, and creatives. While the invoicing platform is not easy to integrate with popular third-party payroll apps like Gusto or OnPay, Wave does have its own payroll software.

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. The platform offers accounting and expense management as well, letting you manage your finances within the platform.

I’m glad the option is still available online and the system works great and the amount of different charts available is super helpful. Although the shift toward automation across various functions may feel overwhelming, it offers a competitive edge. Customers now expect easy, fast, and secure billing and payment experiences regardless of transaction size.

Regardless of which you choose, you will have to pay processing fees to accept invoice payments online. Wave also offers paid products for payroll, coaching and mobile receipt scanning. PayPal Invoicing offers an invoicing solution for small businesses to receive payments via PayPal or cards. You can create and send invoices to clients using customizable templates, set up recurring invoices, send payment reminders, and track overdue payments with no PayPal account required. Square’s basic invoicing options are free, but businesses can pay $20 a month for advanced features. Processing rates are the same for both plans — 2.9% plus 30 cents for online payments, 2.6% plus 10 cents for in-person swipes on a credit card reader, and 1% with a minimum fee of $1 for online ACH bank transfers.

Schedule everything, from invoice creation and invoice sending, to payment collection and overdue payment reminders. Invoice templates simplify invoicing, but there’s typically no one-size-fits-all option that works for every customer. The lack of invoicing customization in billing software reviews is flagged as a drawback across some options. If this feature is necessary for your business, your software must allow for some flexibility. Customers may have different renewal dates, billing types, or charge types.

With Wave Invoicing, you’ll be able to track, edit, send and pay invoices from any mobile device. In addition, Wave allows you to manage multiple businesses on one free account and uses double-entry accounting, which is ideal for accountants and tax time. 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.

However, like most products with free plans, Wave has its limitations, especially compared to more scalable small-business accounting software. Although Wave’s paid plan offers additional features, it’s still missing some more advanced capabilities, like built-in inventory tracking and audit trails, that growing businesses might need. While Wave provides unlimited invoices, it might be best to look elsewhere if you are looking for more robust account software. Both QuickBooks and Invoice2go offer more comprehensive features like time tracking to easily record billable hours and export them into an invoice. 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.

A salesperson’s job is momentarily done at the end of each month when deals are closed and paperwork is submitted to the finance team. Given the effort it can take to land new customers, the worst outcome is for an unreliable order-to-cash process to create problems. This can cause significant delays in payments and cash collection, which can sour new business partnerships and create revenue leakage. Before you commit to accounting software, it’s in your best interest to shop around and compare all your options.