![]() There are six report sections that focus on specific accounting areas:Įach report type details business performance, which can inform future business decisions and provide useful tax filing information. ![]() Wave’s Reports page helps small businesses gain better insights into whether their business is running effectively. The software features double-entry accounting to make it easier for users to monitor transactions, track income and expenses, attach receipts to transactions and generate accurate accounting reports. Wave’s dashboard smartly organizes business expenses, income, invoices and payments - all for free. Accounting is simple, so when it’s tax filing time, all accounting data is in its proper place. Wave software provides organized and worry-free accounting for small businesses. In self-service states, the monthly base fee is $20 a month with an additional $6 for each employee and contractor. Additionally, businesses pay $6 for each active employee and independent contractor. For tax service states, Wave charges a $40 monthly base fee. Monthly payroll fees are different for tax service states and self-service tax states. ACH processing fees are 1% per transaction with a $1 minimum fee. This is what your customer is required to pay you.Credit card processing is 2.9% plus 60 cents per Visa, Mastercard and Discover card transaction, or 3.4% plus 60 cents per American Express transaction. Total: The total displays the balance due which is calculated from the amount of each line item on the invoice.Notes: Within the notes section of the invoice, you can stipulate any additional terms of service that you've agreed to with your customer.So please consult your local tax resource to determine how much tax you should be applying to your invoices. This rate may differ depending on the geographic location you're business operates in. Tax: Indicating the tax rate applied to the cost of the goods or services provided is legally required on invoices.The line items also require a quantity so the customer knows how many goods or services they are being billed for, the price of the line item and tax rate applied to it, and the amount the line item costs. Line Item: Each line item on an invoice should have a name for the goods or services provided, along with a description of those goods and services.And, since invoices are often due in a specified number of days after receival, the invoice date is important in showcasing when payment is due. Invoice Date: The invoice date indicates when an invoice has been issued which helps your customers if they are receiving multiple invoices from you.Invoice numbers can be formatted in different ways such as file numbers, billing codes or date-based purchase order numbers. ![]()
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