What is Wave and how does it work?

Wave is a comprehensive financial management platform designed specifically for small businesses, freelancers, and entrepreneurs. Founded in 2010, Wave has served over 5.9 million businesses across the US and Canada with its suite of accounting, invoicing, and payment processing tools.

The platform operates on a freemium model, offering core accounting and invoicing features at no cost while generating revenue through payment processing and premium features. Wave's cloud-based architecture ensures real-time data synchronization across devices, enabling business owners to manage finances from anywhere. Its double-entry bookkeeping system maintains professional accounting standards while remaining accessible to users without formal accounting training.

Benefits of Integrating Wave with Abacum

• Sync real-time accounting data from Wave directly into Abacum's FP&A platform, eliminating manual data exports and reducing errors

• Transform Wave's transaction-level bookkeeping into sophisticated budgets, forecasts, and scenario models within Abacum

• Maintain Wave's simplicity for daily operations while gaining enterprise-grade planning capabilities through Abacum

• Connect invoice and payment data from Wave with revenue forecasting models to improve cash flow predictions

• Automate variance analysis by comparing Wave actuals against Abacum budgets without spreadsheet reconciliation

• Enable seamless collaboration between bookkeepers using Wave and finance teams planning in Abacum

• Scale from freelancer to growth-stage company without migrating accounting systems—just add Abacum's planning layer

• Leverage Wave's free accounting tier while investing in advanced FP&A capabilities only when needed for growth