The app offers a receipt scanning feature as well, but you have to pay a subscription fee to access it. There’s a fee involved with accepting online invoice payments, too. Customers can pay via credit card, bank payment or Apple Pay. Wave makes money through our optional, paid money management features include online payment processing, payroll software, and access to personalized bookkeeping services and coaching through Wave Advisors.

Accounting for beginners

Have an eye on the big picture so you can make better business decisions. Our robust small business accounting reports are easy to use and show month-to-month or year-to-year comparisons so you can easily identify cash flow trends. Wave was designed specifically for small business owners like you – no CPA required. With our intuitive dashboard, you’ll be a money management pro in no time. Enable invoice payments through credit card, bank and Apple Pay.

Payments

1. All payments are subject to a risk review and periodic credit risk assessments are done on business owners because we need to cover our butts (and yours).
2. 1 Payouts are processed in 1-2 business days for credit card payments and 1-7 business days for bank payments.
3. Zoho Books offers a robust free plan, along with a range of paid plans that feature workflow automation.
4. With QuickBooks, your online payments will be deposited into your connected bank account within the next business day, or you can pay a 1% fee for instant deposit (free with a QuickBooks Checking account).

You’ll pay a 2.9% plus $0.25 per transaction fee for invoiced credit card payments; and 1% (up to $10) for ACH payments. Wave’s invoicing is free and unlimited, with customizable templates and a user-friendly interface, putting it on par with some of the best invoicing software solutions for small businesses. Pro plan capabilities include recurring invoicing and the option to let repeat clients opt into automatic credit card billing. Strong invoicing feature competes with that of paid products; app lets users send invoices on the go; offers significantly fewer reports than competitors; no inventory tracking.

In this review of Wave vs. QuickBooks, we’ll look at how the services stack up, including their features, pros and cons, and which kinds of businesses can benefit from each. For example, QuickBooks Online doesn’t have a free plan, but offers four paid plans, each with additional features, making it a great choice for scalability. With the higher-tier QuickBooks plans, you have access to inventory management, billable expenses and project profitability tools, none of which are offered with Wave. Wave Accounting is ideal for micro businesses with fewer than 10 employees, contractors, freelancers and other service-based businesses on a budget. The financial management software is user-friendly and equipped with all the basics, including the 5 step approach to revenue recognition income and expense tracking, invoicing and reporting. Both Wave and QuickBooks give you the option to open a free checking account integrated with your invoicing account.

Full details on how Wave support works are available here. Enable invoice payments by credit card for a pay-as-you-go fee as low as 2.9% + 60¢, and watch the money roll in. We provide different levels of support, depending on the plan and/or the add-on features you choose. Any connections between you, your bank accounts, and Wave are protected by 256-bit SSL encryption. Transaction fees apply on both platforms, and all payment methods are optional.

Accounting made easy.

Track customer views and invoice payments in the Wave dashboard so you always know where you stand with sellers, property managers, buyers and renters. They get the flexibility of paying you via credit card, bank payment, and Apple Pay; you get a reputation as a polished professional. Today’s leading accounting platforms offer standard security features like data encryption, secure credential tokenization and more.

How online payments work

We’ll ask you to verify your identity, answer a few questions about your business, and where you’d like the deposits to go. Ready to invoice in style, bookkeep less, and get paid fast?

A 1% fee is applied to the amount you withdraw from your available balance, in addition to regular processing fees. Deposits are sent to the debit card linked to your account in up to 30 minutes. Deposit times may vary due to processing cutoff times or third party delays. 1 Payouts are processed in 1-2 business days for credit card payments and 1-7 business days for bank payments. Deposit times may vary due to processing cutoff times, third party delays, or risk reviews.