Guide to Wave accounting

Wave accounting is software that empowers businesses to manage their finances efficiently. Managing the accounting and finances of the businesses is a very difficult task. The severity of the difficulty is more for small and medium-sized businesses. It is difficult for them to employ more professionals with high qualifications and experience due to cost. Wave accounting relieves these businesses from these problems and helps to achieve better accounting. Many people may have thought about How to use wave accounting? The answer is very easy. The only thing you must know is its features and usability. Its user-friendly layout has made it easier for any individual to use it comfortably.

Features of wave accounting:

1. Invoicing

After completing the work, you can make the billing for the customer quickly. There are some of the standard design templates, automated reminders for getting the payment quickly, and different options for the clients for paying it through credit cards. Here, it is also possible to make the custom design of the Invoices as per the business.

2. Accounting

Wave accounting enables us to do different accounting activities more easily. The businesses can track the expenses, track the income, know the transactions, and generate the reports. Here, double-entry accounting is easier which helps to achieve more efficiency.

3. Getting the payments

The payment feature is very fast here where it can be taken through the credit cards directly into the account. All the payment received entry is made directly in the wave accounting software.

4. Payroll

Managing the payrolls efficiently and reflecting it in accounting is a quite tedious task. Wave accounting software has made this task easier by efficiently handling the taxes, payment for employees, and all aspects of payroll properly. Long hour of work in the payroll is minimized to a shorter duration with proper payroll handling.

5. Receipts

Wave accounting enables you to scan the receipts through phones and upload them easily. You can even directly email the receipts to the desired location.

Cloud Accounting system:

Cloud accounting uses accounting software that is executed directly online which is “cloud”.  Cloud accounting enables the businesses to relieve themselves from data security, as all the information is saved on the online platform with the help of software. This has made it easier to manage all the bookkeeping and accounting activities on the online platform. Cloud accounting has tremendously reduced the paperwork that reduces the costs of paper documents. Wave Accounting is one such kind of cloud accounting software that manages accounting activities efficiently.

Dashboard utility:

Wave accounting software has a very simple Dashboard layout that makes the task easier. Going to any section of the bookkeeping, accounting, reporting, or any such aspect is very easy. Dashboard utility will give you more ideas about How to use wave accounting more efficiently.

Here, is a short view of the Wave accounting software dashboard:

1. Business dashboard

Here you can view the important aspects of the business like a bank account, cash flow, account balance, adding of employees & customers, Invoices, and different other accounting aspects.

2. Sales

Here, you can manage all the sales-related activities like estimates, Invoices, statements of the customers, product, or service information.

3. Purchase

All the purchases made in the company are managed here. You can manage different aspects related to the purchase like receipts, bills, and Accounts Payable.

4. Accounting

Here, you can manage all the accounting related activities like bank reconciliation, transaction management, viewing the accounts of all the activities.

5. Banking

Here, you can add, delete, and manage all the bank accounts with respective payouts.

6. Payroll

Here, you can add new employees, make payroll as per the timesheets, and manage the payroll system.

7. Reports

Here, you can check the reports of different aspects of the business.

8.  Integration of Apps and/or Software

Here, you can integrate different Apps and software to do different business activities. Some of the common examples are CRM, scheduling of an appointment, and email marketing.

9. Settings

It helps to make the desired settings for Wave Accounting different options. You can make the Invoices in the customized order, guest users, and export the accounting data to a particular location.

Meru Accounting helps you to manage all your accounting tasks with the Wave accounting software. Our accounting service at Meru Accounting helps you to achieve better accuracy.