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How to Build a Profitable Business – WAVE

June 5, 2020  Min to Reads

When you are building a business you must find ways to focus on the core of your business. Unfortunately, it is very easy to get distracted by essential activities that don’t make a direct contribution to the growth of your business. That is why you must find tools and resources that make those non-revenue generating activities less burdensome. It is also important that those tools don’t drain too much money from your bank account. You can build a profitable business with Wave.

How to Build a profitable business with Wave.

Finding the right accounting tool

Managing your finances and getting paid isn’t something you should neglect. First, you need to get paid to survive as a business. Second, you need to understand the flow of money through your business to know whether your business is healthy and growing or not.

I spent several hours looking at several tools and even using a few to find the right accounting tool for my business. Some of those tools include:

Most of these tools are comparable in price and features. Some offer longer introductory rates. Some include more users. But they all provide the core accounting tool-set: Invoicing, a Chart of Accounts, Accounts Receivable and Payable tracking, connections to your banking accounts, etc.

Why did I choose WAVE as my accounting tool?

There were a few factors that caused me to choose WAVE over all the other powerhouse tools.

  1. Price
  2. Cloud Functionality/Mobility
  3. Bank Connections and Integrations
  4. Ease of Use

Let’s face it, you need every dollar you can get to grow your business. The last thing you want to do is pour dollars into a non-revenue generating tool. Sometimes you have to, but when you can avoid it you should. WAVE is free. They make their money on credit card processing. If you accept payments from your customers via credit card or ACH, you can do that through WAVE payments. The good news is that their rates are competitive with what I’ve been able to find elsewhere for a small business. You can also manage your Payroll through WAVE for a fee.

Here’s the great part. The cost of payment processing is made up in other places. The ability to access your accounting software from any device at any time and upload receipts on the fly is a real time saver. The fact that your banking accounts are fully integrated streamlines your accounting process. And, with such an easy tool to use, you’ll be back to growing your business in a flash.

Discuss WAVE in our forum

If WAVE is something you’re interested in, I’ve set up a discussion board where you can ask questions. I’m not an accountant, and I don’t work for WAVE, but I’m happy to share my ideas and leanings where I can. You can ask your questions and join the discussion in our accounting software forum. For a limited time, you can get a free membership to the community using the coupon code: WAVEAPP. 

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