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Free accounting, invoicing, and receipts for very small businesses
Wave is a free cloud accounting platform that has served millions of micro-businesses, freelancers, and side hustlers since 2010. The core accounting software — including income and expense tracking, bank reconciliation, double-entry accounting, and financial reporting — is genuinely free with no artificial limits on transactions, users, or invoices. Invoicing and receipt scanning are also included at no cost. Wave's business model monetizes through payment processing fees and optional payroll subscriptions, making it sustainable without charging for the accounting product itself. The platform handles bank connections, automatic transaction import, and basic categorization reasonably well for simple business financials. Reporting covers P&L, balance sheet, and cash flow statements. Wave Payments enables credit card and ACH acceptance via invoices. The payroll module covers full payroll processing with tax filing in select US states. Wave's limitations become apparent as businesses grow: the feature set is significantly thinner than QuickBooks Online, inventory management is absent, the integration ecosystem is small, and customer support for free users is limited to community forums and email with slow response times. For businesses with annual revenues under approximately $250,000 and straightforward financials, Wave delivers professional-grade accounting at unbeatable cost. A natural first step for new business owners before they outgrow its capabilities.