In this post I will be reviewing the free accounting software package Wave Accounting. Click play on the video below for a quick overview from the guys over at Wave Accounting.
Most people seem to think they need to go buy the most expensive accounting program as they think it is the best one. This is not always the case. For your requirements a free accounting software package will most likely be more than enough. It is for me! I have always been a big fan of free accounting software.
What Is Wave Accounting?
The free accounting software Wave Accounting is a Canadian company based in Toronto. Wave Accounting launched in November 2010 and have went from strength to strength. Each month thousands of new businesses use their software.
Their free accounting software is an intuitive application that is built for small businesses or individuals.
The Wave Accounting website can be found here.
How Can It Be Free Accounting Software?
Wave Accounting is completely 100% free. How can they do this? They sell advertising space on your log in panel. So effectively it is all paid by the advertisers. When I first saw this I thought that the advertising was going to be everywhere and relentless. I have to say I was pleasantly surprised. The adverts first of all are from dozens of great companies including HP and Microsoft/Bing. They are also not in your way at all. You can avail of the offers or not, its up to you.
Where To Download Your Free Accounting Software
You can visit their website directly here and sign up. Alternatively if you have Google Chrome installed you can use the Google Chrome Web Store to install it in your browser. Yes that’s right its not a program you download and install. It runs inside your browser and is 100% secure.
To access the Google Chrome Web Store and install Wave Accounting visit here.
Below is a snapshot of the Wave Accounting website.
When you signup you will be presented with this.
At this point you can upload your business or personal bank statement. Or you can connect your bank account to the program. This means no more manual data entry!
You can also just click on the ‘look around first’ button and add your bank account later.
Below is how your account page will look when you sign up.
What To Do Now?
I highly suggest connecting your bank account. If you haven’t already done so you can add it now. Simply click the ‘Connect a bank or credit card account’ button located under the Bank Accounts & Credit Cards section on the left of your dashboard.
You have a drop down selection box to choose your bank. Select your bank and log in details and let your free accounting software do the rest. You have now just connected your bank account. Good Work!
I have to say I found installing and using this software a complete breeze. I love the fact that it automatically records your expenses. You just have to check to confirm if it is placing those expenses in the correct place.
If you are looking for a powerful and free accounting software package you need look no further than Wave Accounting. Check them out now and never worry about accounting again.
If you have used Wave Accounting or have any other free accounting software package suggestions then please let me know in the comments section below.