| A few days ago, I talked to a friend who would love to start her own business but was very concerned about how much it costs to start and run a business. Every tool necessary to get a business up and running costs something. Websites (Bluehost), newsletter platforms (Mailchimp), graphic design platforms (Canva), calendar platforms (Calendly), and visual meeting platforms (Zoom) all have plans that cost money. Still, most of these also have a free version where you can get started without breaking the bank. When I decided to do my bookkeeping, I wanted to use one of the best platforms out there, but I couldn’t afford it, so I started researching and asked several business owners I knew what they used. I was surprised to hear several people mention Wave. Wave is October’s Feature of the Month! I looked up Wave and discovered they had a starter plan. I can create estimates, invoices, and bookkeeping records with the free version. I can also accept online payments, manage my cash flow, and create invoices from my phone using the Wave App. NOTE: When I signed up, I was also able to upload and reconcile my bank statements automatically online. Since then, they have changed their policy. You will have to get the paid version to upload and reconcile automatically. I still love the platform. It’s simple to use, and it allows me to give my bookkeeper access to reconcile my statements and keep me on track. The paid version is $16/month, and you can do everything you do with the free version plus it gives the option to accept online payments at a discounted rate. You can also auto-import bank transactions, auto-merge and categorize bank transactions, digitally capture unlimited receipts, track expenses, automate late payment reminders, and more. Wave also offers several key benefits: Cost-effective: The free version is ideal for new entrepreneurs just starting out. User-friendly: I found it easy to use, even without prior experience in accounting software. Cloud-based: You can access your financial data from anywhere with an internet connection. Invoicing/Payments: Wave lets you create professional invoices, track payments, and set up reminders. Reporting: It generates essential reports like profit and loss statements and balance sheets, providing valuable insights into your business. For those who upgrade, additional benefits include: Integration: Wave connects with your bank accounts, reducing manual data entry. Receipt Scanning: It offers a simple way to scan and track receipts for easier expense management. If you are a business looking for budget-friendly options, Wave is a great platform for tracking your finances. If you are thinking about starting a business, several platforms offer starter versions that don’t charge at all, including Wave. Check out this platform and Wave goodbye to all your accounting hassles! And, If you need help getting started, please email me. I’d love to help. |