Wave Accounting: Free and Mobile
Patricia Kennedy
Dec
1

Wave Accounting: Free and Mobile

Are you a physician or other professional looking for a new, free, user-friendly, cloud-based accounting system?  Then it is time to read further and contact our firm…

What is Wave?

Wave is a free, cloud-based accounting software for physicians and other professionals. It allows for easy allocation of your banking transactions into a format that is friendly for your accountant and tax filings.

What are some of the benefits?

  • First, it is free and easy to use!
  • It is perfect for doctors who have limited time to spend on administrative tasks.
  • You can connect your bank account and credit card directly into the software so that you do not miss allocating any expenses.
  • Being on the cloud means you don’t need to worry about downloading software onto your computer, instead you can access it through a web browser on any computer or your mobile device.
  • You can allow your accountant collaborator access to your Wave account.  This allows for easy access for your year end and tax filings but also for your accountant to help you in real-time.

How do I get started?

Contact us! Our firm has a pre-determine chart of accounts for physicians and professionals to save you the hassle of setting things up.

Step 1 – Setup your Wave account

Your Wave account needs to be setup with accounts that are relevant to your business and easily integrate into your financial statements to make your year end tax filings simpler.

Step 2 – Upload transactions

You can connect your bank and business credit card to Wave to have your transactions automatically upload.  This is the recommended method and requires only a one-time setup. It also ensures not transactions are duplicated.

Step 3 – Categorize transactions

The transactions will need to be categorized into accounts. As you start to categorize, Wave will learn what they are for and start to auto-categorize for you. It will still require final approval from you but it will start to save you steps!

Our firm is all about planning for the busy physician or professional. We offer many other free, online and secure tools to allow you to put less effort into your recordkeeping BUT maximize your tax efficiency by never missing an expense.

If you think Wave is for you? Please contact us for a free consultation at info@gocpa.ca.