Wave Accounting
waveapps.comBuild Difficulty: 4/5
A few focused days to build a solid replacement
Free accounting software for small businesses and freelancers
How to Replace Wave AccountingOverview
Features
47 features across 24 categories
Account Management(1)
Manage multiple business accounts within a single Wave workspace.
Analytics(2)
Access benchmarking data to compare financial metrics with industry peers.
Get AI-powered insights into spending patterns and business financial health.
Bank Management(1)
Easily reconcile bank accounts and match transactions to accounting records.
Banking Integration(1)
Connect bank accounts and credit cards for automatic transaction syncing.
Collaboration(2)
Share financial documents and reports securely with clients and accountants.
Collaborate with team members on invoices and financial reports.
Collections(1)
Automatically send payment reminders to customers for overdue invoices.
Customer Management(1)
Allow customers to view invoices and make payments through a self-service portal.
Data Management(1)
Automatic daily backups of all accounting data with encrypted storage.
Data Quality(1)
Automatically identify and flag duplicate transactions to prevent data errors.
Expense Management(8)
Use machine learning to automatically categorize bank transactions.
Organize expenses with customizable categories for better financial tracking.
Set company expense policies and track employee compliance.
Track and manage employee expense reimbursements with approval workflows.
Automatically categorize and track business expenses with receipt scanning.
Log business mileage and automatically calculate deductible mileage expenses.
Scan and upload receipts with automatic expense categorization using OCR technology.
Store vendor information and track payments made to suppliers.
Financial Planning(2)
Set financial goals and track actual spending against budgets.
Project future cash flow based on historical data and pending invoices.
Income Management(1)
Monitor all income sources with detailed transaction logs and categorization.
Integration(1)
Access Wave data via REST API for custom integrations and applications.
International(1)
Track expenses and invoices in multiple currencies with automatic conversion rates.
Inventory(1)
Track product inventory levels and automatically adjust quantities on sales.
Invoicing(9)
Create and send multiple invoices in bulk with customized details.
Convert tracked hours into invoice line items with customizable billing rates.
Create project estimates and convert them to invoices with one click.
Create and send professional invoices with customizable templates and branding.
Customize invoice layouts, colors, and fields to match company branding.
Schedule invoices to be sent automatically on specific dates.
Choose from professionally designed invoice templates or create custom designs.
Set up automatic invoice sending and payment reminders based on custom rules.
Set up automatic recurring invoices for subscription-based services.
Mobile(1)
Manage accounting on the go with the Wave mobile app for iOS and Android.
Payments(1)
Accept online payments via credit card, debit card, and bank transfers.
Payroll(1)
Manage employee payroll, tax withholding, and direct deposit.
Project Management(1)
Create projects and track income and expenses by project for profitability analysis.
Reporting(2)
Create custom financial reports with selected data fields and date ranges.
Generate profit and loss statements, balance sheets, and cash flow reports.
Security(3)
Track all changes made to financial records with timestamps and user attribution.
Secure accounts with two-factor authentication via email or authenticator apps.
Set granular permissions for team members to control access to financial data.
Tax Management(3)
Calculate, track, and prepare sales tax filings for multiple jurisdictions.
Calculate and track quarterly tax estimates based on income and expenses.
Export financial data in formats compatible with tax preparation software.
Time Tracking(1)
Log billable hours and automatically convert them into invoice line items.
Pricing
Free
Popular- ✓Invoicing
- ✓expense tracking
- ✓financial reports
- ✓bank connections
Payroll
- ✓Employee payroll processing with automatic tax calculations
Payments
- ✓Accept online payments and process credit card transactions
Cost Calculator
Pricing data not available for Wave Accounting. Check their website for current pricing.
Build vs Buy
Should you build a Wave Accounting alternative or buy the subscription? Estimate based on 47 features.
Buy Wave Accounting
Better ValueBuild Your Own
Buying Wave Accounting saves ~$55,440 over 3 years vs building.
Estimates based on 47 features and a BuildScore of 4/5. Actual costs vary.
Integrations
30 known integrations