Wave Accounting Tutorial for Small Business | FREE Accounting Software (Beginners Overview)

In this Wave accounting tutorial for beginners, I share how you can get up and running with Wave’s completely free financial and accounting software.

Wave is a popular FREE accounting and financial software for small businesses in Canada and the US.

Wave accounting allows you to manage all your business’s financial and accounting activities from managing advanced invoicing, recurring invoicing, bills, online payments, payroll, transactions and more.

► We also have a complete beginner guide over on our website:
https://stewartgauld.com/wave-accounting-tutorial/

► Get started with Wave Accounting for free here:
https://waveapps.com/

► Interested in comparing with the Xero accounting software? Check out our Xero tutorial for beginners here:

► Today we cover the following chapters in this wave accounting tutorial:

0:00 Intro
01:13 Getting started
03:12 Wave dashboard
06:04 Estimates (quotes)
06:23 Customer invoices
07:22 Recurring invoices
08:05 Checkouts (website payments)
08:23 Payments
08:50 Customer statements
09:03 Customers
09:16 Products & Services (sales)
10:07 Bills
10:25 Vendors
10:44 Products & Services (purchases)
11:22 Transactions
11:51 Reconciliation
12:21 Chart of accounts
12:34 Hire a bookkeeper
12:55 Connected accounts
13:42 Run payroll
14:03 Reports
14:14 Tax filing
15:02 Outro

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Let me know if you found this Wave tutorial helpful. Also, if you require any help or support, make sure to get in touch with us today.

Thanks for watching and enjoy!

#waveaccounting #accountingsoftware

Comments

Thanks!How to record transfers from a personal account to a business account.

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Updated tutorial coming soon! Will cover this.

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I use weaker currency. Can I put 10 billion figure in this? Sage and Quickbook’s older free version allow 999,999,999 only

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Hey mate,
This is only available in the US and Canada at the moment. I do not think so.

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I am a service small business. I dont need yo track sales tax. Can sales tax calculations be disabled?

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Yes. We are updating this tutorial soon and will include this information. Thanks.

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Hey can i use wave for a restaurant and cafe business?? and when selling one product there are a lot of items that we can add so is there any way to manage the sales of product and ingredient items added to the product

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Yes you can use Wave to mange these types of businesses.

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Hi there, thank you! How do I add a user to my account?

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Welcome! Under setting you can add your team or connect your accountant.

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Can you please do a video for wave accounting for individual users who just simply want a place to easily keep their accounting records in order to pace them along to their bookkeeper?

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Hey James,
I will look into this mate.

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Thanks for the very thorough tutorial!
Quick question: If I’ve already been doing bookkeeping on spreadsheets, is there any way to upload the data to Wave?

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Hey,
Yes you can upload to Wave, however, I suggest engaging with Wave for the correct migration.

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@Stewart Gauld OK. Thanks!

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Is this all software free of cost bro??

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@Stewart Gauld If it’s free of charge then, I would love to use it. Thanks…

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@Pranaya khadka Make sure you can use it in your country.

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@Stewart Gauld I will check whether my country is mention in list or not? Actually, I am from Nepal. OK 👍

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Nothing is ever free. What is the catch?

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waveapps is truly free. They make money for accounting advisors and payment processing/invoicing for people who need those features. This a great free software bar none.

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I am looking at moving to Wave from QBO. Is it possible to import from QBO to wave?

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Hey Lara,
I will have to look into this.

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how do we mark a transaction as personal transaction so that it is not included in business reporting? quickbooks self employed is great for this as one just mark a transaction as simply personal but waveapps made this rocket science. How do we do this???

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Hey mate,
This can happen with new accounts. Give your page a few weeks and the option to add a user name should appear.

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@Stewart Gauld ??? your reply is not relevant to my comment. Are you using a bot software to reply to comments???

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Can anyone help me set up everything for my business pls ?

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Hey mate,
I suggest getting in touch with your accountant.

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Hi

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Hey

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nice video bro

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Thanks for the visit!

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Do you know how we’d enter Amazon sales? For each of my books? It seems the only category is “sales.” I’m wondering if I have to add like 50 booksellers as “customers?”
I’ve had Wave for awhile and I can’t seem to figure it out. :/

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Hey mate,
Thanks for the question. I will have to look into this.

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