Wave Accounting

Wave Accounting provides genuinely free double-entry accounting software that meets the needs of many small churches and nonprofits. Unlike 'free trial' offers or limited starter tiers, Wave's accounting core is permanently free - the company makes money through optional payment processing and payroll services, not accounting subscriptions. The platform handles fundamental accounting tasks that churches need. Track income and expenses across multiple accounts with proper double-entry bookkeeping. Connect bank accounts for automatic transaction importing, dramatically reducing manual data entry. Categorize transactions to track giving, expenses by ministry, and fund allocations. Wave's reporting capabilities satisfy typical church financial oversight needs. Generate profit and loss statements, balance sheets, account transaction reports, and aged receivables. Reports export to PDF and CSV for board presentations or accountant review. While Wave doesn't offer nonprofit-specific fund accounting, churches can use categories creatively to track designated funds. The invoicing features work well for churches with receivables - facility rentals, event ticket sales, or fee-based programs. Create professional invoices with your church logo, track payment status, and send automated reminders. Accept payments directly on invoices when using Wave Payments (transaction fees apply). Receipt scanning via the Wave mobile app captures expense documentation. Photograph receipts immediately to reduce lost paperwork. The system attempts to extract amounts and vendors automatically, though accuracy varies. Either way, having digital receipt records improves audit readiness. Bank reconciliation happens largely automatically with connected accounts. Wave imports transactions daily and matches them with recorded income and expenses. Manual reconciliation tools handle checks and cash that don't flow through connected accounts. The unlimited users feature is particularly valuable for churches. Add your treasurer, bookkeeper, pastor, and finance committee members without per-seat charges. Role-based permissions control who can view versus edit financial data.

Creating a Wave account takes minutes. Visit waveapps.com and click 'Sign Up' to create your free account. You'll provide basic information about your organization - select 'Non-profit' as your business type. After account creation, configure your chart of accounts. Wave provides a default structure, but customize it to match your church's financial reporting needs. Add accounts for different giving funds, ministry expenses, and designated accounts. Keep the structure simple initially - you can add accounts later as needs emerge. Connect your bank accounts for automatic transaction importing. Wave uses secure bank connections (the same technology behind major financial apps) to pull transactions daily. This eliminates most manual data entry and ensures your records match bank statements. Set up income and expense categories that align with your budget and reporting requirements. Typical church categories might include General Giving, Building Fund, Missions, Staff Salaries, Utilities, Ministry Supplies, and Benevolence. Create categories for each fund or designated gift type you want to track separately. Import historical data if transitioning from another system. Wave accepts CSV imports for transactions and contacts. For clean transition, consider starting Wave at a natural boundary like January 1 or the beginning of your fiscal year. Add users and configure permissions. Your treasurer might have full access while finance committee members receive view-only access to reports. The pastor might only access certain accounts. Wave's permission system provides appropriate access control. Establish a regular reconciliation habit. Even with connected accounts, verify monthly that Wave's records match bank statements. This catches any import issues and ensures accuracy for financial reporting.