Tips and tricks for business owners – #2 – Accounting
Today is the second installment of tips and trips for business owners.
We’ve had over 5,000 views of our first tips and tricks article – thank you so much!! This next one is important for business owners.
Let me start off by saying I hate receipts! Does anyone like entering them? I find entering receipts a pain and all the related bookkeeping is a nightmare. I just want to work on growing my business. Enter Wave Accounting.
Wave Accounting is perfect for small and medium business owners. The base product is completely free and it’s all I use for my business needs. It does everything for sales, purchasing, and accounting for free. All my invoicing is entered right from within Wave. I schedule reminders to go out automatically to my clients. I can capture all my expenses and purchases from within the system. They even have an app to scan my receipts!
My banks are connected to Wave Accounting, so transactions are automatically downloaded and classified. I can load up the receipts and link the two together. Even complicated tasks like dividend payments are handled within the application! You can get under the hood, make the Chart of Accounts work for you and set up journal transactions where needed.
However, there are two areas where they will charge you:
- Payroll – They charge $25/employee/month – I don’t use this today at all, so can’t comment on it
- Payments – Credit card payments – They charge like a typical payment gateway, nothing magic here.
The price for the base product is amazing and the features are intuitive. I would highly recommend checking them out, it isn’t going to cost you anything to take it for a spin.
