As for the Merchant Services, I share the concern with the team about the process around setting up credit card collections. I will tell each of you, as a business owner, read, read, read. Before I clicked yes on these items we read the terms, policies, asked questions wave accounting reviews to support and only then went through the process to activate Wave’s credit card payment process. If you know what to expect before taking that step, you will be far better served and prepared for the initial setup hassle. This is true no matter what system you use.
The price was right to start and we just learned to work within Wave’s processes, rather than compare to how Qbooks did it. I would recommend it to anyone with a small to mid-sized company. Just take Online Accounting your time to learn the tool, ask questions and do a solid comparison to others before you centralize accounting around it – moving platforms is a pain – so think it through. Ok, that’s me 2 cents.
Honest, Objective Reviews
Until then, the software is still a good solution for small business owners looking for a simple, easy to use accounting software that won’t break the bank. Wave’s customer support resources and new Wave Advisor services make it easy for people with limited accounting experience to learn the software. It’s also great for Etsy shop owners and other eCommerce businesses using Wix, Squarespace, or WordPress. Wave Financialis the best free accounting software program for small business owners.
That said, as someone that collects large amounts of credit card payments, once integrated and fully enabled it is a great system. It works perfectly inside Wave and with the invoices, it also helps speed up payment by my customers. I can also confirm, that unless a holiday occurs, we get payment in our checking account within 2-4 business days. I can confirm there is no scam here, just a poorly planned user experience normal balance and flow for setup, beyond setup it is fine.For those that need it… The Payroll service is great. The only limitation we have seen here is that there is only 1 direct deposit option per employee, so we can’t send to multiple destinations as some have requested, like a checking and savings. It offers hourly and salary, plus calculates and tracks time off, W2s, clock in and clock out for hourly and similar.
I own two companies, both are medium sized marketing and technology enablement firms, thus my comments may not be viable to those with other businesses. We have utilized Wave for over 3 years and made a conscious decision to stick with it and utilize it to the full potential. Currently, we utilize the software for accounting, invoicing, asset management, payroll and credit card processing. The team has been great at each step. That said, the technical support team can’t make software changes, so if you don’t like the way tool works or need an enhancement don’t blame them.
At Fundera, Randa specializes in reviewing small business products, software, and services. I would give them more stars but their normal balance customer support is the worst I’ve ever seen. They took a credit card payment from my customer on the 13th of November.
Thoughts On wave Accounting
You can cancel your account at any time. Wave is one of the best accounting software options out there, especially for freelancers and small businesses. The biggest advantage Wave has over its competitors is that it offers basic features for free, which other platforms charge for. The only services you pay for are payroll and credit card payments. With Payments by Wave, customers can pay straight from the invoices you send them, and the payments automatically sync with your Wave accounting software. At 2.9% + $0.30 per credit card transaction and 1% per bank transaction, Wave’s fees are fairly standard. We also like that Payments by Wave doesn’t cost a monthly base fee, unlike accounting software that bundles invoicing and payments in with accounting features.
It’s now the 21st and I still don’t have my money. I’ve emailed them 6 times without a response. This is borderline criminal. Their actually accounting software is wave accounting reviews simple and easy to use. The fact they hold your money and don’t respond, anyone reading this should look elsewhere unless you don’t use their payment services.
Payroll By Wave
This comment refers to an earlier version of this review and may be outdated. Wave “has always been and always will be free,” a structure that the company plans to maintain following its acquisition by H&R Block. Unlike most free plans, Wave doesn’t limit you to a certain number https://simple-accounting.org/ of invoices, customers, or transactions, making it one of the best free options out there — plus, there are no pesky ads. The company generates revenue from its credit card processing, payroll, and bookkeeping services and uses this revenue to keep the software completely free.
- We have utilized Wave for over 3 years and made a conscious decision to stick with it and utilize it to the full potential.
- The team has been great at each step.
- I own two companies, both are medium sized marketing and technology enablement firms, thus my comments may not be viable to those with other businesses.
- That said, the technical support team can’t make software changes, so if you don’t like the way tool works or need an enhancement don’t blame them.
- Currently, we utilize the software for accounting, invoicing, asset management, payroll and credit card processing.
It is a core tool of our companies and we aren’t moving to Qbooks or similar anytime soon.Reporting is an area of concern. If you need detailed reporting, graphical views of balance sheets or income statements or deep dives, a lot of that is manual. The team can improve the reporting section as a whole to be competitive with the other platforms. You can still get the information you need, it may just be more of a headache if you want more than a Balance Sheet, General Ledger and other high level reports. Overall, we like it.