Wave Accounting: Free Bookkeeping Software For Micro Businesses
Do you just need something free and simple?
POSTED BY ALISON MEAD ON 27/05/2019 @ 8:00AM
I always advocate using accounting software even if you are just a new start-up business, so try the free Wave accounting app ...
With the Wave accounting app, even micro businesses can keep control of their finances!
copyright: wave accounting
Moreover, if you are planning to grow quickly, gain lots of customers and register for VAT, I recommend you look at Xero or Sage50c as an entry-level product. But what if you're a micro-business or just starting out?
On the opposite end of the scale, if you have just a handful of customers, low volumes of bank transactions, and don't need to register for VAT, then the free Wave accounting app might just be enough to get you started.
With Wave, you can create professional looking invoices, reminders, chasing emails and receipts and send them all by email to your customers and clients. You can download an app called Invoice By Wave to even keep track of your invoices and receipts on the go.
You can also enter bills and receipts into the software to record your expenses, and they have a separate app called Receipts By Wave for businesses which allows you to photo and upload these on the move too.
You can link to your bank accounts and match payments and receipts to the appropriate invoices, bills and receipts, and analyse your income and expenditure to produce both a simple balance sheet and profit and loss reports. It also includes other transactional reports which can help you keep on top of your business.
The Wave accounting app is US-developed and launched in 2010. It can also track your taxes and payroll. However, if you are reaching the stage where you need VAT and MTD compliance, you would need bridging software to file from Wave. Maybe it's then time for another solution such as Sage or Xero?
For someone just dipping their toe in the world of self-employment, Wave provides an excellent free tool to keep an eye on your figures from when you first start out!
If you use Wave at the moment and want to learn more about it, or feel you would just like to use it, but require a hand in getting it all set up, I offer an introductory 'hand holding' session either in person or remotely on using wave for your business.
"Would you like to know more?"
If you'd like to find out more about the free Wave accounting app, or need some advice, then do give me a call on 01604 420057 or click here to ping me an email and let's see how I can help you.
Until next time ...
More about Alison Mead ...
Alison loves bookkeeping and supporting bookkeepers. She has been helping clients to be better bookkeepers in Sage 50 for over 24 years and has been Xero Accredited in accounts and payroll for a number of years too.
She specialises in a very unique hand-holding method of training, helping bookkeepers and business owners to use their accounts software as and when they need support in setting up and producing their invoices, reports and financial information.
Alison combines her role at Silicon Bullet with her Forever Living network marketing businesses and is often to be seen at business networking meetings as she likes to keep busy.
You know what they say: if you want something done well ask a busy person!
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