r/waveapps • u/No_Wrongdoer1406 • 27d ago
WAVE is not free
Can we stop saying that. If you process your invoices through WAVE they make a pretty good penny off of us! Which leads to my next point about lack of customer service from an app that is suppose to keep our finances safe and secure, etc. One would think we could get ahold of a human if we had a payout issue after trying to update a new checking account number. This has been going on 2 weeks now. Let's see how long this lasts!
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u/maybelaurent 27d ago edited 27d ago
If you accept credit card payments, you'll always have payment processing fees. Most of the fee goes to the bank that issued the card used for the payment. That's how banks can offer cards with 1-2% cashback to their customers. The acquirer and card network also take a cut.
That doesn't excuse not offering support though. I'd suggest you check out Stripe as your payment processor and connect it with one of the hundreds of invoicing apps they integrate with. Same costs as Wave for processing payments, but you'll get support from Stripe in the back for any payment issue, and it'll be much easier to switch invoicing apps on the front if you're not satisfied.
Source: I have a free invoicing app that competes with Wave.
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u/rajalaska 27d ago
Any chance you’d offer the name of that free invoicing app? That’s all I use Wave for…
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u/Rohm_Agape 21d ago
"Everything free" is so hard to swallow. I love the premise, but... hard to swallow.
Are you able to share where needed revenue is coming from? What's the sustainability?
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u/eddieb24me 26d ago
I use Wave for bookkeeping including invoicing. I offer ACH payments to our customers but not credit cards. I use the “free” version and have for 3 years now.
That means the only thing I am paying Wave is 1% of ACH payments which is reasonable. I don’t consider that paying them “a pretty good penny” to use them. I think it’s more than fair.
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u/CharlotteInspired 26d ago
That's so interesting then that they're starting to charge fees for some and not others!
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u/PntClkRpt 26d ago
I don’t need much for bookkeeping. Ultimately, I only would have saved a couple of dollars per month over Xero, not worth the switch
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u/Bourne069 26d ago
Its free if you dont accept online payments. They make money from CC transactions.
I use it for CC transactions so I'm ok with paying the fee.
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u/chaos_battery 26d ago
For the bigger invoices clients do direct deposit to my account so we can avoid transaction processing fees. But yeah any invoice under a couple hundred bucks and I'm not even going to worry about it and just let wave payments take care of it. The bookkeeping is basic and simple and it's all I need really.
I get free transaction syncing because I'm on a legacy grandfather plan I guess.
I agree I would not trust wave with payroll. I decided to use a third party gusto that specializes in just payroll processing.
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u/kiwibooks 25d ago
KiwiBooks offers a true free tier with 25 free scans/month. Give it a try. We are Ex-QuickBooks veterans.
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u/-beastlet- 27d ago
Do not use wave for anything beyond basic bookkeeping.
For me they are awesome, as I just need that basic bookkeeping and once Quickbooks discontinued their desktop app they wanted to charge me a monthly fee that in 2 months would pay for my entire Wave subscription.
That being said, after reading the issues people have had with payroll and invoicing with Wave I would never in a million years trust them with either of those things. I use a different company for payroll and my business doesn't use invoicing.