Product Review- The accounting tool Wave Software - ToOLOwl
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Product Review- The accounting tool Wave Software

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Wave is a combined accounting key that is explicitly created for consultants, small businesses, and other freelancing concerns. It serves with different features such as accounting, billing, and tracking of payment, workforce management, money management, and revenues.

Organizations can easily interlink their Pay Pal or bank accounts, or any other sources of data for recording all their transactions with the help of their bank reconciliation feature. Businesses could also create reports such as balance sheets, sales tax reports, and account receivable and payable reports with the help of this software.

Apart from all the above features, the wave accounting system also consists of a billing tool that is programmed to collect money. This billing tool is available in the form of different templates which the users can choose as per their choice or as per the industry’s requirement. All these Bills or Invoices can be directed via email, and the software’s payment processing permits its users to accept and convert credit card payments.

Editions and Pricing 

Wave offers a free plan, but unlike other free plans, Wave doesn’t limit its users to a certain number of features. The pricing policy of Wave Software is mentioned below:

Platform Price Support
Free $0 per month
  • Unlimited billing
  • Unlimited evaluations
  • Contact management
Wave advisor Service:

Monthly Accounting

$ 79 per month A personal coach will teach and provide guidance on how to efficiently handle the software by giving through Email support and 30 minutes live coaching each month
One-Time Accounting Coach $ 129 per month Here the coach will provide 120 minutes of live coaching to explain how to handle accounting efficiently
Tax Services $ 129 per month Wave professionals will organize all the taxes, file all the federal and state tax returns.
Bookkeeping $ 129 per month A Wave professional will deal with all the bookkeeping tasks of the user, including classifying transactions, reconciliation and much more

Capabilities and Supporting Set of Features

 Dashboard: The dashboard of the wave software gives a quick insight into the performance of the business by showcasing the charts and graphs about Unpaid Bills, Cash, Bank Accounts & Credit Cards, Profit & Loss, liabilities and assets, Net Income and Expenses of the company.

 

Invoicing: The Invoice dashboard of Wave software is very informative, allowing its users to have a look at all the unpaid invoices, overdue invoices. Apart from that, it also reveals the average amount of time taken for the invoice to get paid and even the next payout.

 

 

Estimates: This feature allows its users to analyze the estimations and transform them into invoices.

 

 

 

 

Client Portal: A simple customer gateway for invoices is being offered by Wave software, allowing the customers to see at their bill/ Invoice and pay it directly online.

 

 

 

 

Accounts Payable: Wave allows its users to pass in bills and record all the bill payments.

 

 

Inventory: The inventory feature of Wave software is the most worshipped software of all. This feature allows its users to enter the product name, its description, and the sales price. It also has a buy or sells option where one can choose whether he/ she prefers to buy or sell that product.

 

 

Additional Features of the Wave Software:

  • Smooth Operations
  • Good data overview
  • Proper billing of the customers.
  • Proper tracking of expenses
  • A robust feature set.

Pros and cons of Wave Software

Pros

  • One of the best parts of Wave software is that it is one of the most cost-efficient software as it is available Free Of Cost
  • It is user-friendly and quite easy to use for beginners as well.
  • It makes it very easy to track invoices and payment history.
  • It is effortless to manage all the business finances.
  • It continuously keeps on upgrading its features
  • Accepts multiple payment options.

Cons

  • Cost of Credit Card charging is very high (approximately 3%)
  • Suitable only for small scale units and not for large scale business enterprises.

Differentiator:

Unable to find any differentiator points related to this software.

Support:

Below mentioned are the various platforms through which anyone can reach Wave Software:

  • Support Form: Anyone can contact Wave’s consumer support team through their in-software support forum. They can also contact them via phone or chat that is available for payroll, inquiries, and processing of the Credit Card. They have created this helpdesk facility that publishes, which guides the users about the software and publishes different articles and systematic guidelines and screenshots for all the visual learners.
  • They have also created a Wave Community where you can work together or interact with other Wave users and get an overview of business tips and experience of other users who have already used the product.
  • Users can also find them on YouTube and watch their
  • Wave has also shown its presence on different social media platforms such as Facebook, Twitter, and LinkedIn.

For further details, please visit Wave website and know more about this wonderful software.

 

About ToOLOwl

I am ToOLOwl. I have few friends in my nest; whenever someone requests a tool’s review or I pick a one out of my interest, someone in the nest does research on the tool, someone takes a tool’s walkthrough and some of them share their experiences and expert advice. Based on all; I give it a  stereoscopic vision and present important insights for you to go through and ease your selection process for tools. Wish you Happy reading, Easy choosing.

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