Wave receipts mobile app8/11/2023 ![]() ![]() ![]() So I had to rush to learn all my tax compliance regulations before my next quarterly return due in a few weeks. On top of it all, last year in June they essentially told me they would no longer being able to help me file my tax forms as I had a foreign address (As I had for the past 2 years of being with them). Its like doing double the work to double check all the things they send you last minute and on top of that you get to pay them money for it! I have spent countless hours fixing their mistakes, paying for underpaid taxes, amending returns, seeking returns for doubled payments, pulling my hair out as I get no response from their help center and tax forms and payments are due in a couple of days even though they've had the data to automate the form a month ago. End of the year taxes with them are a nightmare of trying to back-calculate all the sums they report on W-2s, 940s and 941s. It is extremely tedious and makes no sense that they are calculating this in the background without reporting it or including it in the books for the user to see. Its up to you to go back to each payroll for the quarter and figure out how they arrived at this total and to which tax branches you have paid and how much. Your bank statement will stay something like, "IRS payment" when in fact its a split transaction between Social Security, Medicare and Federal Income tax withholding. They automate tax payments from your bank account, but don't provide any breakdown as to which taxes the sum represents. This has been documented and requested in their forums for YEARS, and a user even developed a Chrome plugin to work around it since they didn't move on it for YEARS. They have no way of storing receipts with transactions, and when you try to use their receipt scanner it literally doubles the transaction, making your books unbalanced until you manually find the same transaction and delete it. PROS: Its free for accounting.but this is a double edged sword as it has inherent flaws that make it a good idea to avoid in the first place.ĬONS: I used their accounting software for a few months and their payroll and invoicing services for a few years before realizing it is fundamentally flawed. You can conveniently use online pay stubs or choose direct deposits to deliver your team their payment. Wave also allows you to pay your team from anywhere with the right amount. Users can configure reminders to remind you of paid and unpaid items. Other time-saving features include recurring bills and invoices. With Wave’s automatic billing and invoicing, users will definitely save a lot of time. The system also prepares your business for tax season without the hassle. The software takes out manual data entry from the equation, significantly streamlining the process without compromising accuracy. It also have receipt scanning tools and bank connections. Wave comes with capabilities that simplifies incoming and expense tracking. ![]() The system also enables users to accept payments via credit cards, giving you and your customers unparalleled convenience. From this software, you can monitor the status of all your invoices and payments. With Wave, creating professional looking invoices, estimates, and receipts is a smooth process. The software comes with a very clean and friendly dashboard, where everything you need is within a click of a mouse. This makes Wave an ideal accounting and invoicing tool for small startups, freelancing professionals, and consultants. There are no hidden charges and undeclared fees. The best thing about Wave is that the software is free. ![]()
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