24 / 2015
Wave customer Wayne Ford was one of our lucky premium services winners in our February Invoice to Win contest!
After about ten years of producing celebrity oriented video content, Wayne found that he was no longer inspired by his subject matter. Working in an office just wasn't working for him any more, and he wanted to change things up!
That's when he decided to follow his passion, and make a change. A lover of architecture and interior design, Wayne launched Wayne Ford Films. Now, he creates cinematic videos, eye catching photos and modern websites for luxury real estate in the Los Angeles area.
Now, Wayne gets to set his own schedule — which means in addition to a career that inspires him, he also has time to spend on his passion projects.
In the busy Los Angeles real estate scene, time is a huge concern for real estate agents. That's why Wayne stands out from the competition by making it faster and easier for his customers to pay by credit card. His customers can pay right from his emailed invoices, and he can send those invoices from his iPhone while he's on location!
Wayne also loves how simple Wave's accounting features are — he connected his bank accounts, and now uses the reports in Wave to gain a clear picture of where his money is going, and what he needs to do to optimize his business.Continue Reading
10 / 2015
In January, our grand prize contest winner was Melissa of Blackbird Photography!
Now, you could win this February!
This February, our grand prize is $250 — which you'll have a chance to double to $500! You can put it towards your business, or even use the unexpected money to treat yourself.
That's it — you're entered. Good luck!Continue Reading
5 / 2015
We had such a great year in 2014! Accounting and bookkeeping professionals have embraced the cloud, adopting new products and taking on new challenges. Now that functions like bank reconciliation and journal entries can be cloud-based and data entry can be automated, a paperless workflow is the new norm.
Wave has been around for more than four years, but our goals remain the same: to liberate small business owners and to help them succeed. We would not be able to do this without the incredible accountants and bookkeepers who help our customers every day. This past year, there was one Wave Pro in particular who really stood out, an individual who lives and breathes Wave's values. He took on new obstacles and offered an immense amount of his time to Wave customers who wanted to manage their finances more efficiently. It is my pleasure to announce our Wave Pro of 2014: Mr. James Krener and his team at Krener Bookkeeping & Tax!
James welcomes all small business owners to learn more about their accounting system. A small business owner himself, he built his practice from the ground up with Wave. If you want to mix flexibility, generosity, and fun with accounting, KB&T has what you are looking for.
The quote in the picture below resides in James’ office and represents KB&T’s ultimate vision: to help small business owners rise above their accounting, bookkeeping, and tax with easy and affordable resources.
4 / 2015
If you're a brand new small business owner, it can be tough to focus on accounting and bookkeeping with so many other things on the go. You've probably questioned the idea of bringing on a professional but you're not sure what services you need this early in the game.
The team members at Madan Chatered Accountants are experts at helping small business owners succeed on Wave and they were generous enough to share some knowledge.
Here are 3 things they think you should consider:
Hiring the right bookkeeper is essential for making and maintaining a successful business. One of their main jobs is to create a budget for your company. A budget is a forecast of a company’s expenditures and revenues over a time period in the future (e.g. 3 months, 6 months, 1 year, etc.).
It’s important for business owners to prepare budgets periodically in order to:
1) Better manage cash-flow
2) Plan for any short-falls in cash (e.g. through bank financing)
3) Help allocate company resources
4) Set goals for revenue and profit
In addition to preparing a budget, you as a business owner, should review your company’s actual results against the budget to see if financial goals have been achieved and if there is room for improvement.
It’s important to review the financial performance (i.e. profitability) of your business at least quarterly with your bookkeeper so that you can:
1) Quantify the business’ profits or losses.
2) Identify areas for improvement in sales.
3) Proactively look for cost savings opportunities.
4) Measure your financial results against your competitors.
5) Track your company’s financial performance against your goals.
This sounds great, but why should you care about accounting if your business has a healthy cash balance? Well, you should care because accounting will help you know if you’re profits are declining, whether there are signs of a sales slump in the future, and whether your cash will run out shortly.
Wave is a 100% free program that allows small business owners to virtually keep track of expenses and cash flow with a cloud-based accounting software that will make your bookkeeping simple and easy. The program allows you to connect your bank account to their secure system which will essentially eliminate manual data entry. It has the ability to create transactions automatically and place those transactions into categories based on your business’s preferences. The categories are divided into income and expenses. They have a pre-set list of categories if you want basic bookkeeping, or you can create your own categories for a more advanced way to keep track of your records.
Wave helps you connect with accounting firms in your area that they think will help you out the most when the tax season comes around. The program they offer for this is called the Wave Pro Network where small businesses can search for accountants in the areas of expertise that they need to expand their business.
Furthermore, Wave is a great way to organize your income and expenses so it is easier for your accountant to file your corporate tax return. You do not need to rely on spreadsheets and word documents any more to try to organize your tax information.
Wave is not only great for bookkeeping, it is also seamlessly integrated with invoicing, credit card processing, receipt scanning, reports and payroll.
For free online videos on how to use Wave to complete your company’s books, see Madan CA's bookkeeping tutorials.
Allan Madan is a Chartered Accountant, Chartered Professional Accountant and Tax Expert who enjoys working with business owners, individuals and entrepreneurs. He has over 14 years of experience in public accounting. Prior to founding Madan Chartered Accountant in Mississauga, he worked for the prestigious firm Deloitte for six years, where he held the position of International Tax Manager.Continue Reading
12 / 2015
It’s that time of the year, when you and Wave spend so much quality time together. Hopefully you’re just as excited as we are!
Getting your year end financials organized for tax season can be a stressful process. Sometimes, the best thing to do is ask for a hand. That’s why Wave continues to offer Premium Services to our customers when they need it most.
When you upgrade your services to Premium with Wave, you’ll receive Live Support. Yes, that’s correct a real (cool) person will be waiting for your on the other end. We have three packages available that allow you to chat live with a Wave Product Expert, and two packages that allow you to call Monday through Friday 9 a.m. - 5 p.m. Eastern time. The moment you upgrade, you’ll now be able to get instant support, right when you need it.
With packages starting as low as $9 a month (no commitment required) it’s never been easier or more cost friendly to close your books, and start 2015 on the right foot.
A Product Expert will be able to answer questions about your Wave account, help you get set up in Wave, and share valuable Wave features that can benefit your books in 2015. Log in to check out our live support packages.
If you'd rather tackle your accounting on your own – we’ll continue to provide you awesome (and free!) email support, so whether or not you choose to enhance your Wave experience, we’re always here to help and bring a smile to your face.
If you have questions or feedback, please don’t hesitate to get in touch with our support team.Continue Reading