Going by the mantra: easy, free accounting software for your small business, Wave delivers exactly what it says on the tin. This user-friendly, cloud-based accounting service allows you to track your income and expenses, send invoices, run reports and perform numerous other tasks, free of charge.

The user interface is attractive, making it easy to find all the functions at a glance. Wave has deliberately designed the software with non-accountants in mind and presents information in an understandable and highly readable format. This includes colourful bar graphs, pie charts, simple navigation tabs, and more.

This means you can quickly send invoices and estimates at the click of a button. Better still, Wave offers a variety of professional invoice and estimate templates. Other features include the ability to securely connect your bank account to the service, scan receipts for safe keeping, and invoice payment tracking, which allows you to keep a close eye on paid and unpaid invoices. Multiple currencies are also supported, so you will find the software functions in the UK, U.S., Canada, Australia, New Zealand, Japan, and also countries using the Euro.

The software has easy to use reporting features that give you an instant snapshot of your business. Profit and loss, balance sheets, cash flow and other key reports can be produced for any time frame within seconds. Security is a major concern at Wave and 256-bit encryption is deployed for your safety. Regular backups are also run to help minimise data loss.

Want to manage your accounts when out of the office? Be sure to download the Wave smartphone app (available for iPhone and Android devices). It’s easy to use and allows you to bill your customers as soon as the job is done.

Please note: Wave is free with the exception of payroll and credit card payments (although upgrades can accommodate this). Note: Payroll features are currently limited to the U.S. and Canada.