Here are 3 things I love about Wave Accounting:
- It’s Canadian!
- It works great!!
- It’s Free!!!
It’s Canadian!
Wave HQ is located in Toronto on Carlaw Avenue, just a bit south from one of my first apartments when I was in my twenties. Ah, the memories…
As fellow Canuckians, they know all about GST/HST and have a great Canadian payroll solution as well.
The user interaction is friendly and down to earth-how Canadian is that? Check out these descriptions of the Income Statement, Balance Sheet and Aged Receivables on the reports page:
Balance Sheet – The summary of what you have, what you owe, and the business value.
Income Statement – Income minus expenses; tells if you’ve brought in more than you spent this period.
Aged Receivables – See how much money is expected to come in, and how long you’ve been waiting for it.
It works great!!
You can link it to your bank account and credit card accounts and the software will automatically download your transactions. The only left to do is tell it how to classify the items. They are completely focused on small business with 0-9 employees so they really “get” entrepreneurs. They even have a tidy way of dealing with entrepreneurs who combine business and personal in one bank account—come on now, you know you do it…
There are a lot of time-saving features such as apps that work on your Android or iPhone that you can use for mobile billing and for scanning in receipts. You can also create recurring invoices for repeat customers rather than keying the same information time after time.
It’s Free!!!
Yes, you read that right. There are advertisements displayed in a sidebar, but the ads are specific to the goods and services that a small business might be looking for. Wave Accounting does offer some paid services, such as payroll processing and credit card acceptance, but those are signed up for separately and are very cost-effective.
If you would like to check out Wave Accounting, here’s a link: www.waveapps.com
Don’t forget to contact BookSmarts to help you set up your company file and get you started on using this terrific Canadian product.