Speaker 1: wave accounting software how to use wave as a beginner hello guys welcome back to the channel i hope you all are doing good in today's video i'm going to show you how you can use wave for your accounting needs and how you can get started with the platform and what are some features that you need to know about so without any delay let's get into the video so wave is a platform which allows you to uh basically manage all of your accounting and money of your you know business in one place and in a really easy manner so you can basically manage your money like a boss wave is one stop money management for small business owners it is a really good platform when you're getting started and it doesn't even cost you a penny so as you can see it has everything you need invoicing payments you have your accounting you can see your banking advisors and everything so built for small business owners like you you have flight dancers self-employed entrepreneurs consultants contractors so it is basically more useful for small businesses because if you see at the pricing plans wave is kind of free like invoicing is a hundred percent um free accounting is free banking is free payments uh you get basically credit cards is um you get the taxes on credit cards like this one if you go on to payroll pay staff in minutes tax services is $1.40 if you go on to advisor advisors if you uh basically hire an advisor for yourself who is going to basically manage everything for you then you have to pay some extra amount but you can do everything by yourself you can access all the features of wave and it is completely free so to get started you have two options you can just sign in or sign up for free i don't have an account so i'm just going to click on the sign up for free or you can just also come here and start with filling this form and create your free account i'm going to continue with google because google is more accessible and i don't have to add all the details by myself one by one i can just go on and add my account the one that i'm using and you i'm just i could just you know simply get started with google so i'm just going to do that and then i'll show you the next step okay so welcome to wave tell us about your business i have to basically provide the name for my business and everything so i'm just going to um add in my name and then i'm going to add in my last name and my business name let's say my business name is warehouse i'm not going to with anything else what does your business do okay wait a second uh they have different categories for you this is open menu icon okay art photography creative services construction home hair spa aesthetics non-profit associates and groups real estate web tech and media let's say i work with hair spa and aesthetics okay next now wave is built for us canadian businesses zoho is our trusted partner in our country and okay get started okay so basically uh the region that i'm in right now wave is not available in that specific region because wave is built for us and canadian businesses only but they have allowed zoho as their trusted partner in the country that i am in right now so i can access zoho and it is very similar to wave and i can access everything i can get all my needs um you know fulfilled by zoho as well my accounting needs my financial needs and everything so i'm just going to uh onto zoho and i'm going to uh continue with the process i'm going to show you how you can make invoices and everything and the whole process is going to be same for the wave if you live in u.s or canada then you can access a wave but if you are in any other region then you can just continue with this the whole box i'm just going to add in my organization name which is warehouse and now i need to add a business location and for that i need to choose a country okay so here it is let's get started okay so now regional uh settings you have to add in your currency the currency that you want to add you can just simply add u.s dollars because it is currency that goes by everywhere then you have your language then you have a time zone you have to choose a time zone which is basically works for your country which is aligned with where you are located at the specific time where your business is located actually so i'm just going to find my time zone which is somewhere right here wait a second okay so after that you can just go on and continue with the process by click on this option which says get started okay so welcome on board they're basically asking if you need to uh get a little bit information about the platform and you can ask them to show you around but i'm going to click on new edX ruler it and i'm going to show you what's the steps so here you have your you know menu you have your dashboard you have your items you can just click on that and you can see if you have any items if you want to add your products then you have your banking then you have your sales your purchases uh like in your sales you have your customers estimates invoices sales received payments received recurring invoices credit notes in your purchases you have your vendors your expenses recurring expenses bills payments made recurring bills and vendor credits then you have your time tracking you have your projects in your time sheet and then you have your accountant your manual journals bulk update currency adjustments charts of accounts budgets and everything then you have your reports you can just go on and see everything that has been going on that has been going on with your whole management thing and you can just add that as well so what we're going to do is if you want to add a new item you can add a good and a service you can choose that then you have to name your item after that you need to add a unit like it's in box it's centimeter feet or something like that then you have your sale information you have your selling price you have your account your description tax cost price purchase information is going to be here your accounts description and everything and you can see if this is going to be the product that you have made if you go on to banking stay on top of your money you have to connect your bank or credit card or you can add manually by click this option right here so you can add your banking onto your zoho or your wave you know you're good to go and then if you go on to your sales you have your estimates invoices so if you want to add an invoice just click on this option right here you'll be able to create an invoice for yourself here is how it's done set your transaction preferences do you give discounts at line item at transactional level discount before if you want to discount before tax and discount after tax there are two options i'm going to give discount after tax select any additional charges you would like to add adjustment shipping charges obviously they have to be added do you sell your items at rates inclusive of tax i'm going to add in tax inclusive because this basically gives the customer a quick preview of what they are paying round off the total nearest whole number or for sale transactions yes do that and then you are going to save and continue these are basically your preferences after you have done saving and continue you can basically create a new invoice you need to add a customer name for yourself uh you don't even have a customer right now so i'm just going to quickly add a new customer for myself let's say my customer type is business or it's let's say individual primary contact is mr john and the last name is let's say it's green okay then i have the company name uh the company name is warehouse the customer display name is going to be mr john green then they have customer email if you want to add you can if you're a customer font website other details are going to be right here you can add them as well but as you can see they are not necessary so i'm going to leave them after you have basically added everything you can just click on this option right here and say save and it's going to save the customer for you so after you have added your customer name then you have to add your invoice invoice is good then you have your order number order number is let's say one and my invoice date is gonna be 29th november and i'm going to choose this and then you have your terms due on receipt uh you have you can basically change the term if you want to net 13 and 16 and 15 i'm going to be good with that salesperson uh who is the salesperson if you have any employee i don't have any employee right now so i'm just going to leave that as well the subject is going to be right here so let your customer know what this you know item purchase is the subject of my invoice item purchase so this is basically another line so this is going to be item details type or click or select an item if you have any item you can just click on that i don't have any item because i haven't created i'll just show you how it's created quantity is one rate is going to be this select the tax is going to be this and amount is going to be after that have you created everything have you done with everything this is something your invoice is going to look like and you can just go on and save it as a draft where you can upload it as your invoice so i'm just going to click on this option right here which says save and send later i'm going to click on this and okay okay so it is not basically saving right now because i have an item name or description you can just add those things and you'll be good to go and this is how your invoice is going to look like then you have your sales received you can create a sales receipt for yourself as well i'm going to leave this page by this option right here create invoice or sales receipt or something like that on excel or other platforms then it is difficult to integrate and sometimes it is difficult to add and uh it is also a difficulty to make this because but here you just have to add all the details and the whole template is going to be made by itself so it is very easy to use zoho or it is very easy to use wave actually you can create anything that you want as you can see this is new sales receive you can customer name sales date sales receipt number sales person item details and you're good to go you can just save and send so this is very easy to integrate all the you know accounting needs from this specific platform so uh you can see all of these things and you can basically get all of these things from here it is very easy to use and very beginner friendly so this was it for today's video guys i hope you found it helpful if you have any query you can comment it down in the comment section below i would try to get back to you guys until then take good care of yourself and bye