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Wave Accounting Inc. is a Toronto-based company that provides web-based accounting software designed specifically for small businesses and it's all free, online, at WaveAccounting.com
. The idea is to take those paper documents and Excel documents and get them into an accounting system with as little pain as possible. You can import transactions from your bank accounts, have Wave Accounting categorize expenses for you, and let the system do some of that manual accounting work. What's the catch? How can it be free? Here's how they explain it:
In Wave, you’ll soon see special savings opportunities for things that matter to your business. Mobile phone services, for instance, or office products, or business banking — all at a lower cost than you may be paying now. If you choose to take advantage of any of them, Wave gets paid by the supplier. So you save money and Wave makes money.
When it's free it's hard to beat and it's easy to sign up to give it a spin. Let us know what you think in the comments.