Yes, believe it or not! Wave Accounting is a full-featured accounting application that's absolutely free.
Cloud computing is offering small business more web applications all the time.
Wave Accounting offers a proper double-entry accounting application with a suite of reports (such as General Ledger, Aged Receivables, Balance Sheet) that you would expect from any small business accounting software.
But what's really appealing about it is that you can use Wave to do your accounting entries for you by importing your bank transactions into the program. As the developers of Wave point out, almost all your purchases and income are already tracked by your bank accounts and credit cards, so why enter them all manually again into your small business accounting software program or spreadsheet?
And it gets even better. Wave automatically categorizes expenses it recognizes, saving you even more work.
Wave also has a feature called Guest Collaborators which I really like. You can use it to invite your accountant, bookkeeper or other partners right into your Wave account, an easy way to share data.
The downside? Two potential ones.
First, you and I both know that nothing is truly free. You will be exposed to ads when you're using Wave Accounting. From their website as of this writing:
"In Wave, you'll soon see special savings opportunities for things that matter to your business. Mobile phone services, for instance, or office products, or business banking -- all at a lower cost than you may be paying now."
Second, Wave Accounting is an online application - which means you always have to carefully consider the whole issue of security on the 'Net. Wave uses industry standard bank-quality protection such as 256-bit encryption and carries both the VeriSign and TrustE logos. Is that good enough for you to put your business data up into the cloud? Only you can decide.
But Wave Accounting certainly looks good and the save work features greatly appeal to the lazy side of my nature.
Learn more at Wave Accounting.
More on Small Business Accounting
- Top Small Business Accounting Software
- Before You Buy Accounting Software
- Accounting and Bookkeeping Resources
- 6 Tips for Choosing Small Business Accounting Software (About.com Financial Software)
Most Popular Articles | Newsletter | SB Canada Forum | RSS Feeds | Follow Me on Twitter
Thanks very much for the review Susan.
We are confident that when your readers dive into our security protocols they will see the necessary safeguards in place to ensure their data is always secure.
We know that the advertising offer engine is a new concept in this space. However we believe that it provides two great advantages for small business owners: A. free accounting software (after all who wants to pay for something they don’t even like doing) and B. a way to find savings opportunities that they aren’t already finding in the market. Further the offers will always be presented in an elegant way that doesn’t get in the way of using the application.
Thanks,
Kirk from Wave