How to setup your accounting preferences in Wave

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How to setup your accounting preferences in Wave

Video Transcript

Speakers in this video: Jimmy (GetApp) and Brooke (Wave)

Brooke: It's very easy to get started on Wave. That's actually one of the main things that we focus on is ease of use. So as a small business owner, you should be able to get setup no problem and it only takes a couple of seconds. So i can walk through that process with you right now. All you have to do is go to our homepage which is waveapps.com and then you click on the sign-up button. So I'm just going to create a fact account here to show you how easy it is. Password, wasn't long enough there so make sure you have a very secure password.

Jimmy: Okay.

Brooke: First up is to just put in your company name. Today I'll be Brooke's Photography. Got so many photographers that use Wave. They really love it.

Jimmy: One thing before we move on is that in business type I saw that this is a really good example of all the different businesses that can use Wave and like you mentioned earlier, services-based businesses are really highlighted here. One of the things that really came to mind was the Etsy Vendors. I have a lot of friends who sell stuff on that. It was cool to see how they're listed there.

Brooke: For sure, yeah. There's so many different types of small businesses and I think you'll probably be surprise to know that the segment with 0 to 9 employees actually makes up over 100 million of businesses. So it's quite a huge market and i think over 90% of businesses have 0 to 9 employees. It's pretty crazy but i think it's just an awesome opportunity that we have to help liberate these small business owners by operating them these virtuals.

Jimmy: Cool!

Brooke: Yeah. Now that I have my business type selected, I just want to let everyone know that this is actually what Wave will use to create your chart of accounts. A chart of accounts can be something a little bit scary for a small business owner, that's why we create one for you. We got a couple of different variations, but it shouldn't matter too much which business type you choose because you can always customize your chart of accounts later on the accounting tabs. I'll show you that as well.

Jimmy: Okay.

Brooke: An important thing to note is the currency. Make sure that it's set correctly at the beginnning because that will make sure that multi-currency is functioning properly for you in Wave. And the next step is to put in your address. You can actually skip this step but it will be the address that shows up on your invoices. It's just kind of getting one step ahead to fill it out. We actually can locate your address for you to make it super easy to fill out. So i'm just going to click on get started.

Jimmy: And that would be pretty much it.

Brooke: That's it actually. Yeah! So it's as simple as putting in an email and password and you're ready to go with all Wave's tools.