Wave Accounting is a cloud-based accounting, payment, personal finance, and invoicing app for freelancers, consultants, and people running businesses with few employees. While there is an array of different bookkeeping apps available online, Wave Apps stands out because it’s free, and it’s excellent! The only time you might need to pay for Wave’s features is to use its payment processor to receive funds. 

Its accounting system also features an invoicing instrument to collect money, and users can select the template best suitable in meeting their needs. It has a personal finance tool with a budgeting tool, investment tracking, and a dashboard for personal finance administration.

I’m a freelance worker, how can Wave help me?

As a freelancer, Wave Apps is one of the best choices if you want to keep your financial information and ensure timely payments from clients.

While ensuring you enjoy these benefits, Wave also protects your privacy by allowing you to invite your accountant to handle your business’ accounting aspect without giving them login details.

If you want to easily calculate your transactions, review yearly reports, and send invoices without hassle, this is an easy decision – Wave Apps.

Pros

• It’s free. The beginner package of Wave is free. The package includes email support, receipt scanning, invoices, reports, and accounting as well. 
• Instantaneous sync. You can instantly sync all your data across devices, ranging from sent invoices to payrolls. 
• Automated reports. Wave automatically generates tax reports, balance sheets, and more so you can conveniently stay on top of your finances. 
• Tracks expenses. You can see how much you’re spending in each period and set helpful reminders for each month. 
• Supports double-entry accounting. It supports traditional double-entry accounting for increased control of your business accounting needs.

Cons

• No credit note features. While you can keep track of debts, there is no credit notes feature available. 
• Low capability. Features like time tracking and audit history are not available. 
• No custom reports available.