We often get asked about acccounting – and why we don’t offer a full accounting program within Iris Works. There are a few reasons – but mostly because there are already some awesome resources (paid and free) that exist in the marketplace that do accounting for small businesses so incredibly well. But don’t fret if you’re already using Iris Works – we are working through plans now to integrate our Invoicing feature with some accounting programs! But this isn’t about us, it’s about what you can do today to get your business expenses on track.
Wave Apps is not as well known as some other accounting programs, like Quickbooks (which we also love) – but it is FREE to use. That’s right – you heard us, absolutely free. And it’s fairly easy to get the hang of, too. Wave will connect securely with your bank account in a matter of seconds. You can set up your photography business in a few simple steps – and we’ve done our best to show you how simple it is below.
1. Enter in your email address and a password.
2. Connect your bank account. This is as simple as selecting your bank from the various options, and then entering in your online banking credentials. You can even select your type of business – which has pre-populated options, including Photographer.
3. Once your bank accounts are connected, all of your transactions can be imported into Wave. You can then review the transactions and categorize your expenses. No more spreadsheets – and Wave will automatically populate the categories for you. You’ll need to verify the transactions, which is as simple as a click of a button.
That’s really it! You can view your company by checking your Dashboard upon login – which shows Recent Activity, your Financial Snapshot, Net Income, Business Expenses, and more. And the coolest thing we found out while researching Wave is that they now have a Receipts app! You’re able to take a picture of your receipt with your phone, or by emailing it. This is a huge benefit to any business owner in helping streamline your business and get rid of paper clutter!
Although it takes a little time when you first set things up, you’ll be so incredibly grateful later when it comes to tax time – and your accountant will be pretty pleased as well. Reporting options are built into the program, and as easy as a few clicks.
Let us know what you think – have you tried Wave or another accounting program that you love? Comment below!