SOURCE: Wave Accounting

Wave Accounting

November 16, 2010 08:05 ET

Numbers Crunch Themselves With Wave Accounting Saving Time for Small Businesses

New Free and Easy Way to Manage Business and Personal Finances

TORONTO--(Marketwire - November 16, 2010) - Wave Accounting today launched an online accounting application that frees small business owners from the time-consuming steps of bookkeeping and accounting. Wave Accounting is the first integrated online application to track users' business and personal finances, an essential feature for the many small businesses that manage business and personal finances out of the same bank account and credit card. And it's free, unlike traditional accounting software.

Other free applications offer limited options, restrict access to features or put a cap on usage. Wave Accounting is the only full-featured online accounting program that is 100 percent free for small businesses.

Many small business owners do not possess a clear picture of what's happening with their money. Or they spend hours logging payments into spreadsheets and handwriting invoices. Wave Accounting does the work for them.

Wave Accounting connects with users' banking and credit card institutions, automatically importing and categorizing transactions to provide a real-time view of the business' financial health.

"The reality is that two-thirds of small business owners still stuff their receipts in shoeboxes, log expenses in spreadsheets and handwrite invoices," said Kirk Simpson, chief executive officer, Wave Accounting. "It's hard to find a market as large as this -- and growing with the recession -- with a pain point that still needs to be addressed. We took stock of the process that any small business owner goes through to stay on top of finances. Anywhere we could cut time, we did."

With Wave, paper receipts become digital records. Even the application's language is simplified, stripped of accounting terminology and replaced with plain English. Instead of "debits and credits," users see "money owed to me and money I owe."

Unlike traditional accounting software, Wave Accounting resides online. As a result, users can access their financial information from any device with a browser. Data is stored securely and backed up hourly to allow users to stay in business in the event of a system crash or hardware theft. No software downloads are required.

Product Feature Highlights

  • Automatically imports transactions from your business and personal bank and credit card accounts 
  • Automatically categorizes transactions
  • Drag and drop income and expenses into appropriate categories
  • View a real-time dashboard featuring graphs of your income against expenses, due dates and bookkeeping actions
  • Log, generate and send invoices from within the application or download a PDF copy
  • Collaborate with business partners and accountants by extending edit or view-only access to balance sheets, income statements and other reports

Availability
For more information or to sign up for a free account now, visit http://waveaccounting.com/.

Supporting Resources

About Wave Accounting

Wave Accounting frees small business owners from the time-consuming parts of bookkeeping and accounting. And it's free. By using smarter tools, Wave Accounting gives small business owners control over their financial information. The result: No more sleepless nights worrying about the accounting you've avoided. For more information on how your small business can benefit from Wave Accounting, visit us on the Web at http://waveaccounting.com/. Follow us on Twitter at @WaveAccounting.

Contact Information

  • Press Contact:
    Juliet Niczewicz
    The Hoffman Agency
    (408) 975-3091
    Email Contact