Wave Accounting is a free, cloud-based accounting platform exclusively for small businesses. It supports double-entry bookkeeping and permits unlimited user access, invoicing, and expense management. Wave Accounting integrates with Wave's invoicing, receipt scanning, payment processing and payroll apps.
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ZipBooks
Score 7.0 out of 10
Small Businesses (1-50 employees)
ZipBooks is an accounting software solution for small business owners and accountants. Users can track expenses, manage their team, send recurring invoices and manage projects.
I was not impressed with Xero or ZipBooks simply because they were expensive and still as, if not more, confusing than QuickBooks. QuickBooks is, unfortunately, the standard. I dislike it, and I think it is just a huge corporation trying to steal small businesses money, but …
Wave is free to use, and they have some premium features you can pay for. For someone just starting out as a small business, freelancer or independent contractor, this is a Godsend. You can look professional, have something easy to manage, and yet also have excellent records come the end of the year. You won't spend a bunch of time having to learn the program, it's very intuitive and you get a host of great features that will make getting paid easy.
Small businesses are well suited for this software, as their pricing is very affordable. they have a FREE FOREVER Starter plan, for those that are bootstrapped with little cash. I'm on the $15/mo Smarter Plan, and it's perfect for my little boutique agency's needs.
The dashboard provides instant views of month-by month income & expenses for the past 12-24 months, a breakdown of current year expense by category, and net income for the past year and year-to-date.
Invoicing has easy templated set up has lots of per invoice options such as single/recurring payment options, due dates.
Year end reports are easy to generate in either pdf or csv format.
One area of improvement for Wave would be combining the various mobile applications into one app.
Another room for improvement would be on the dashboard level. It would be great if they could use more bar graphs and get away from pie charts for things like expenses.
Some of the other areas from improvement have been addressed by recent updates so I am excited to see what else Wave brings out.
I was an early adopter, and with this company and software being relatively new, I got to see a few minor bugs and quirks over the last year. The good thing is, most of the bugs are squashed, and the future is bright for this startup!
Wave [Accounting] is very simple and easy to use. Minimal training was required for all our users as the interface is very user-friendly, especially for small businesses looking to use something to track their financial data, Invoice and make payments. I loved using Wave [Accounting]. It lookes professional and [has] all the features we were looking for.
Wave does tend to slow down when filtering your transactions screen especially by date. This is more of an issue when trying to trouble shoot certain transactions or clean-up a set of books.
I've only had to reach out to support once and they were quick to respond and offered valuable insight to resolve my issue quickly. The team is knowledgeable and if the person you're dealing with doesn't have an answer for you, they get back to you quickly with an answer. It was clear that the support team is genuinely concerned about users making the most of the software.
Wave's price point was in line with what my company needed to manage basic accounting (payable and receivable accounts). It made it easy for me to issue monthly invoices to clients and track when invoices were paid. The software makes these tasks easy to manage and inputting data for accurate accounting and invoicing is a breeze. It really offers a lot of flexibility, so you can use the software the way you need it.
I've primarily compared ZipBooks vs. Quickbooks because I've used Quickbooks at larger companies before. ZipBooks was the right fit for a smaller organization because it still had all the core features of Quickbooks but at a dramatically lower price that fits the budget.
Wave has enabled our accounts payable to maintain a 99% closure rate by leveraging auto reminders through the email system.
Our quote to invoice process is a single click, saving time and effort. Even minor changes during that transition occur simply and easily.
Aside from payments, Wave has been free for our usage. Our bottom line is better because we're not investing in software but instead embracing an entire ecosystem.
I don't have a ROI for the use of Zipbooks though it has helped greatly with organizing for taxes. Our economy here has been so volatile for three years with deep dips down, that no software can aid in support the financial health other than to track the expenses and income and watch the balance to observe.