As a tech consultant who works with women entrepreneurs, I understand the intimidation that comes with managing your business finances. I’ve tried various fancy invoicing software in the past, but I find myself returning to Wave every time.
It’s simple to use and has everything I need to manage my business finances. My invoices get paid and move right into my bank account seamlessly. Wave keeps things straightforward and user-friendly, with no unnecessary complications.
Here’s a comprehensive review of Wave, covering its features, performance, and value for money.
Features
- Accounting: Automatically tracks income and expenses. Connect your bank accounts and sync transactions for easy monitoring.
- Invoicing: Create, customize, and send professional-looking invoices. Include payment links to let clients pay directly.
- Payments: Accept credit card and ACH payments directly through your invoices.
- Bank Connections: Securely links to your bank account for seamless transaction syncing.
- Reports: Generate essential financial reports like profit and loss, balance sheets, and sales tax summaries.
- Receipts: Snap photos of receipts, and Wave will match them with transactions or add them as expenses.
Performance
- Ease of Use: Intuitive interface with clear navigation. The setup is simple, making it approachable for tech beginners.
- Integrations: Direct bank account connections streamline expense tracking. Payroll and payment integrations are smooth.
- Mobile App: Offers receipt scanning and invoicing on the go. However, it is not as full-featured as the web version.
Value for Money
- Cost: Free for core accounting features. Payment processing and payroll incur fees.
- Credit Card Processing: 2.9% + 60¢ per transaction.
- ACH: 1% per transaction with a $1 minimum fee.
- Add-Ons: Payroll starts at $20/month + $6 per employee. Tax service varies by state.
Pros and Cons
Pros
- Free accounting features.
- Simple setup and user-friendly interface.
- Automatic transaction syncing.
- Useful integrations with banking and payroll.
Cons
- Limited to basic accounting needs.
- The mobile app lacks full functionality.
- Payment processing fees can add up.
Final Verdict
For women freelancers looking for a cost-effective and straightforward solution, Wave hits the mark. It’s perfect for beginners intimidated by complex software, offering just the right features for effective financial management. While not as comprehensive as paid alternatives, it’s unbeatable for the price—especially when you’re just getting started.