The program for professional bookkeepers and accountants Wave Accounting was launched in 2009 in Canada. The package of software provides a set of financial and other online services for small and medium businesses. Wave accounting is absolutely free. The package of software provides an opportunity to work with the accounts, to make statements, to process sales and purchases. Also, there are such options as an advanced version Wave+, Checkouts, and bank services. You can sign up for Wave Accounting on the internet, from a profile website. The program even contains the function of salary calculation. It helps to calculate a fixed monthly salary for the staff. Wave also has its own mobile applications. They are used for frequently used functions, statements and accounts processing. Mobile applications Wave accounting apps are available for Android and iOS operating systems.
What is Wave Accounting
Wave Accounting is a well-known kind of special professional software for bookkeepers and accountants. Its design is simplified a lot. In the bigger part of the screen, one can see your cash flow, bank accounts, credit cards, list of works to be done, invoices, pro forma invoices, net profit, distribution of expenses, diagrams of profits and losses. You just need a Wave accounting login for registration in order to start the work.
Overview of Wave Accounting features and benefits
You can get easy and immediate access to sales, purchases, accounting, banking, the list of payments, statements, additional application Wave Plus, integration, and settings from the left side of the toolbar Wave accounting sign in. The most important benefits are the opportunity of efficient time management, visually pleasant and understandable interface, understandable step-by-step guidance, and responsive service of technical support Wave accounting tutorial. However, the program also has some drawbacks that are easy to notice.
Wave Accounting: The Advantages and Disadvantages
The program Wave free accounting allows you to:
- keep records of the business activities of the company with automatic formation;
- to perform conversion;
- adapt the program to the requirements of a particular company and changes in legislation;
- configure the chart of accounts, change and add analytical reference books;
- generate various internal reports in any section using the built-in report generator;
- edit and create forms of primary and reporting documents of any complexity using the visual form editor;
- create custom settings and application systems with the help of Wave accounting customer service.
The program has many advantages. It can perform complex automated accounting of the following types:
- fixed assets;
- intangible asset;
- circulation of funds;
- material and commodity values and services;
- settlements with accountable persons and contractors;
- immediate Wave accounting help.
The accounting program also provides information automated accounting of tax systems:
- generates registers;
- generates reports in electronic form;
- generates statistical reports;
- automated budgeting.
Also, the advantages include:
- accounting of several organizations in a single information base (holding accounting);
- stable operation of branches with a common database via the Internet;
- consolidated statements for branches and legal entities;
- high performance with a large amount of data and a large number of jobs in the network;
- integration with Western ERP systems;
- support for various accounting policy options;
- solving non-standard accounting tasks;
- parallel accounting and management accounting;
and also powerful tools for analyzing the financial and economic activities of an enterprise: multidimensional analytics, report generator, and a mechanism for clarifying reports.
- lack of unified reference books;
- the lack of responsiveness of management accounting.
Moreover, the program does not sufficiently implement the specifics of the enterprise.
User reviews on Wave Accounting
The automated accounting information system contains many unified forms of reporting and primary documents that are in strict accordance with modern legislation.
The main characteristic of the program for accounting automation is the speed of its system. On average, it can process up to ten million transactions. The computer information accounting system is mainly used for automating budgeting not only for small businesses but also for large industrial organizations. It surpasses competitors not in units, but in tens of times. The interface of the accounting program (system) for accounting automation is clear and simple. It does not require training of new users, because it is not only visually appealing but also understandable.
Below there are the most interesting Wave accounting reviews.
Most of all, I liked the fact that this system includes all the most necessary tools and elements for the fruitful work of the entire company. It is convenient to conduct work correspondence, monitor accruals, and salary payments. You can also organize meetings, make deals with clients, and much more.
It is very convenient to communicate with both management and employees. It is convenient to set tasks for employees and track their performance. I like that the accrual and payment also occur in this system. Also, it is very convenient that you can easily see all employees, not only your unit, but the entire company immediately and call need in the system with one push of a button – this man will come about this SMS, and he will be able to go into CRM. I was not too fond of only one thing – a hushed sound of notification of new messages, rarely heard. I have been working in this system for about six months. It is a very convenient, multi-functional, and universal CRM. It is convenient to work in it, to set and to perform tasks, and to keep accounts. The impressions are great! And what I liked most is that it is suitable for all areas of business.