This only seems to be that they want to take advantage of holding my money and earning interest on it. There seems to only be one point of contact and they could not divulge why my application was denied, and wouldn't help expedite the return of funds. I was then told that the account was not approved for receiving payments and my money was to be held for 65 days before it would be released back to the payor. When I attempted to collect payments through wave, I was asked to complete a questionnaire AFTER they allowed me to submit payment requests and routing information to my bank and received a payment from a customer. If you rely heavily on customer support, especially for complex accounting issues, you may find the support options provided by Wave insufficient.Īs a small start up cash flow is obviously important, the fact that this company will not disclose its practices nor will it release funds in a timely manor only serves to indicate a fraudulent intent and I cannot in good faith recommend this company PROSĮase of use in invoicing and setting up customer database CONS Paid support plans are available, but they come at an additional cost. As your business grows and becomes more complex, you may find that Wave lacks the advanced features and customization options needed to accommodate your expanding accounting needs.Limited customer support: While Wave provides customer support, free account users may experience limited access to support options. Limited scalability: Wave Accounting is primarily designed for small businesses and freelancers. It simplifies the bookkeeping process and allows users to manage their finances effectively without requiring extensive training. It eliminates the need for expensive accounting software or hiring professional accountants.User-friendly: Wave Accounting has an intuitive interface that is easy to navigate, even for users with limited accounting knowledge. PROSĬost-effective: Wave Accounting is free to use for its core features, making it a cost-effective solution for businesses with limited budgets. Overall, Wave Accounting is a popular choice for small businesses and freelancers looking for a free, user-friendly accounting solution with essential features for financial management.Wave Accounting offers a comprehensive set of features, ease of use, and affordability, making it a preferred choice for small businesses and freelancers seeking a reliable accounting solution. But the messiness is mainly from me leaping in before looking. It would be nice if there were some more in-your-face tutorials, maybe some hover tips for new users. One issue I have is mostly my fault: When I first started using Wave I didn't know what I was doing, and I ended up creating a whole bunch of client and work type records unnecessarily. There are no major cons that I can think of. For the cash-strapped freelancer, that can be mana from heaven. For 1% more payment, you can transfer money within minutes. Once someone pays your invoice, the money is in Wave, and takes 2-3 days to transfer. And finally a small but really helpful feature, especially if you're a freelancer just starting out: immediate money transfers. They didn't influence my decision to sign up, but they've proven to be very useful. Wave also provides a host of reporting and tracking tools in this basic account. I've been using Wave for over 3 years, and I have never once been hit with a fee outside of the basic rates. I asked a financial advisor friend of mine before signing up, and she was pleasantly surprised by the low rates, and told me to go for it. There's no subscription or hidden fees, they just take a perfectly reasonable percentage from invoice payments. I have zero background in financial matters, and with Wave that's totally fine. ![]() Set up is really simple and the interface is user-friendly. Not only would I recommend Wave to freelancers and small businesses, I have recommended it. Always simple and smooth, and exceptional bang for the buck. As a freelancer, Wave has been indispensable to me. It is one of the few software tools I use regularly where I am happy to open it, and I'm happy to give them their percentage. In 3+ years I don't think I've had to contact support once, nor have I ever considered switching to other tools.
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