Computer Applications I use for my Small Business - Financial Aspects

When creating your small business, you must ensure everything is organized and budgeted. When I first started, I didn't do much research on what software and programs were good to use for small businesses (Along the way, I had to learn a lot on my own). I thought it was a good idea to write about all the programs I use to assist me in managing my small business.

For the financial aspects of my business, I use the website software wave. Wave provides me lots of different tools to organize invoices, create estimates, and view accounting reports. Small businesses and larger businesses can use wave.

The tools provided are listed below:

• Sales

  • Estimates

  • Invoices

  • Recurring Invoices

  • Checkouts

  • Payments

  • Customer Statements

  • Customers

  • Products and Services

• Purchases

  • Bills

  • Vendors

  • Products and Services

• Accounting

  • Transactions

  • Reconciliation

  • Chart of Accounts

  • Hire a Bookkeeper

• Banking

  • Connected Accounts

  • Payouts

  • Insurance

• Payroll

  • Run Payroll

  • Employees

  • Timesheets

  • Payroll Transactions

  • Taxes

  • Tax Forms

  • COVID-19

• Reports

  • Financial Statements

    • Profit & Loss (Income Statement)

    • Balance Sheet

    • Cash Flow

  • Taxes

    • Sales Tax Report

  • Payroll

    • Payroll Wage & Tax Report

    • Payroll Benefits & Deductions Report

  • Customers

    • Income by Customer

    • Aged Receivables

  • Vendors

    • Purchases by Vendor

    • Aged Payables

  • Detailed Reporting

    • Account Balances

    • Trial Balance

    • Account Transactions (General Ledger)

• Wave Advisors

• Tax Filing

  • File by Yourself

  • File With a Tax Advisor

Wave banking is also available to set up. All business purchases can be easily made and converted to their account for organized accounting.

All of their tools are totally free; the only thing they charge you for is credit/debit card payments and tax filing purposes.

As stated on their website, they claim that they provide their software accounting program because they act upon their guiding values.

• Believe in small business owners

• Reimagine the possible, together

• Do fewer things, simply and beautifully

• Care deeply and challenge directly

• Achieve extraordinary results

Wave fully supports small businesses and believe that "small businesses are the heart of our communities and championing them is worth fighting for". Their support is shown through advice blogs like How to track business expenses (and why it's important). They also provide you Wave advisors to help you with any issues you may run into.

Wave also has a mobile app where you have limited access to the accounting tools.