I am a Former CPA. Here's Why I Recommend Wave Apps for Small Business Accounting.

If you're looking for free software for your small business, Wave Apps is an excellent solution that provides an easy user interface and AI technology to make the process easy.

As a former Big 4 Tax accountant, I am no stranger to complex transactions and accounting software. Using Wave Apps, in particular if you're on the cash basis of accounting, is a great place to start.

With Plaid integration, your small business banking and credit card can easily be connected which allows for auto importation of your transactions. Wave typically can remember your classifications, making future transactions automatically categorized.

Basic chart of accounts features and easy editing make setting up your own books possible, even for non-accountants.

Reporting allows for an income statement, balance sheet or general ledger to be printed with relative ease.

Key points for non-accountants

• Be sure to check your transactions at least once a week or monthly if you have low transaction volume.

• Stay connected and in agreement with your bank account and credits cards. Ensuring that your business checking account is the same as the cash you report on your balance sheet helps ensure that you cannot veer too far off course. Once you fall off the rails with this, you're going to have to reconcile either on your own or with the help of a professional. Both will cost time or money.

• Bank accounts can become disconnected due to technology not integrating properly [I use Bank of America and rarely have issues]. Wave apps will alert you if this happens; however, you need to make sure that your account gets reconnected and reconciled, if necessary.

• Respect your financials. If you don't take your financials seriously, you don't have a business, you have a hobby.