The number and ease of integrations contributed to this score. Finally, we gave some weight to the input of real-world users as recorded in third-party user review sites like Capterra. Unlike a majority of its competitors, Wave does not have a comprehensive mobile app. While it does offer a free iOS and Android app, the app is limited in the number of features and functions. Businesses can access the dashboard online from anywhere they have an internet connection, which means they always have the ability to bill clients and see who hasn’t paid.

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That said, Wave lost points in our evaluation for business hours-only customer support and a reporting function that would be difficult to understand without bookkeeping knowledge. Feel confident knowing your business and customer data are protected by 
the highest level of certified bank-grade security practices. One click on the “Review & Pay” button in your invoice email.

Wave Payments also connects with Wave Accounting for reporting features. Small businesses can view a breakdown of deposits as well as reports on paid and unpaid invoices, which payments are still processing, and more. Our invoicing, online payments, accounting and bank connection features give you a unified view of your income and expenses – no need to log in to multiple apps or tools. As for ease of use, Wave’s platform is overall clean and well-organized so it’s easy to navigate. It also provides a detailed, step-by-step guide for setting up your payments and business profile. And if you’re not yet ready, you can pause the setup process, and Wave will save your progress for you.

How the Services Stack Up

1. Set up recurring invoices for your finance clients and safely store credit card info so you have one less thing to keep track of.
2. While there are some limitations, Wave Accounting is very popular as a payment platform.
3. Get paid in as fast as 1-2 business days1, enhance your brand, and look more professional when you enable Payments.Accept credit cards, bank payments, and Apple Pay for as little as 1%2 per transaction.
4. Invoices can be sent for one-time charges, scheduled for regular charges, or broken up into partial payments.

With a Pro Plan subscription, get $0 transaction fees on your first 10 transactions each month. Get paid in as fast as 1-2 business days1, enhance your brand, and look more professional when you enable Payments.Accept credit cards, bank payments, and Apple Pay for as little as 1%2 per transaction. Wave’s mobile app (for Android and iOS) helps merchants manage their invoices from their mobile devices. Wave Money (like PayPal balance) allows users instant access to their funds for purchasing or transferring their linked business bank account. The July 2023 update for this software incorporated the receipt image capturing feature so merchants no longer need two separate apps. As a payment processor (facilitator), Wave does not have an application process, but merchants still need to provide their business information to set up an account.

Among QuickBooks product offerings are add-ons for payroll, a bank account, advanced accounting, employee time tracking and e-commerce inventory management. QuickBooks expense tracking lets you automatically capture information from receipts and track miles, features that make QuickBooks more flexible for a variety of businesses. Overall, customers have found Wave easy to use and convenient for invoicing and accepting payments. They like the mobile app and dashboard features, along with the ability to make professional, branded invoices. Additionally, customers have found the payment processing aspect flexible and well-priced for the features they get. While there are some limitations, Wave Accounting is very popular as accrued expenses turnover ratio a payment platform.

Wave Payments Frequently Asked Questions (FAQs)

Its suite of tools offers accounting, invoicing, expense tracking, time tracking, tax reporting, employee and contractor payroll and more. Create beautiful invoices, accept online payments, is accounts payable an expense and make accounting easy—all in one place—with Wave’s suite of money management tools. Get paid in 1 to 2 days1, enhance your brand, and look professional when you enable online payments.

See sent, viewed, paid and overdue invoices in one place so you know which clients are on the right track or need a nudge. Make it easier for your customers to pay you right from their bank account. You’ll receive the money in your account in 1 business day (Canada), or project budget and expense tracking template 2 business days (US)1. Customers can pay instantly by credit card or Apple Pay when they view the invoice online.

Live chat and email are available for Wave Payments customers Monday through Friday from 9 a.m. Many, or all, of the products featured on this page are from our advertising partners who compensate us when you take certain actions on our website or click to take an action on their website. Here is a list of our partners and here’s how we make money.