David H. Freedman, the small biz tech writer for the New York Times, has compiled a list of “Tech Tools That Can Help a Small Business Seem Big.” We’re stoked that he included Wave in this very small group (just three apps).
Here’s what he said:
[I]n my post on online accounting services a little while back, I mentioned a service called Wave Accounting that was about to debut. I’ve since tried it out extensively, and I think it does a good job of basic accounting — in particular of generating and tracking invoices, tracking expenses, and providing a dashboard that shows graphically what’s going on financially.What’s more, Wave can track both personal and business activity (separately), and it can automatically download your credit-card and bank-account activity — even figuring out the nature of each downloaded transaction and categorizing it correctly (usually).
That’s really handy for expense accounting, and it also provides a nice check on whether you’re properly entering the payments you receive by trying to match them to actual bank deposits.
And, even though I’d say the service is well worth paying for, it’s free.
The information and tips we’re sharing in this article are meant to be a starting point for your year-end tax prep, so you can be informed and feel confident when working with your accountant. Be sure to check with a tax expert in your country or region for any specific advice you need, as each business (and tax district) is different. As our lawyers would say: “This article is for informational purposes only. It should not be considered legal or financial advice.”