Wave

### Product Name

Wave

The CPA Firms feature facilitates collaboration between businesses and their accounting firms by allowing secure access to financial data in real-time. This streamlined communication enables accountants to provide timely advice based on current financial conditions without delays caused by data requests. As a result, businesses benefit from enhanced financial oversight while reducing the time spent managing external relationships.

#### Collections

The Collections feature helps manage accounts receivable effectively by automating follow-ups on outstanding invoices. With customizable reminders for overdue payments sent directly to clients, this tool increases the likelihood of timely collections. By improving cash flow management through proactive collection efforts, businesses can minimize days sales outstanding (DSO) and enhance overall liquidity.

#### Cash Management

The Fixed Asset Management feature allows businesses to efficiently manage their long-term assets throughout their lifecycle—from acquisition to disposal. It tracks depreciation, asset value changes, and maintenance schedules to provide an accurate picture of asset performance. This ensures compliance with accounting standards while optimizing asset utilization and planning for future investments.

#### Expense Tracking

The Multi-Currency feature empowers businesses engaged in international trade by allowing transactions in multiple currencies. It automatically converts foreign currencies based on current exchange rates, ensuring accurate financial reporting regardless of where your transactions occur. This capability enhances global operations by providing clarity on costs and revenues in different currencies while mitigating risks associated with currency fluctuations.

#### General Ledger

The Purchasing feature allows businesses to streamline their procurement process by managing purchase orders and vendor relationships efficiently. Users can create and track purchase orders directly within Wave, ensuring that orders are fulfilled accurately and on time. This reduces errors associated with manual processes, improves supplier communication, and ultimately leads to better inventory management and cost savings.

#### Project Accounting

The Spend Management feature in Wave provides businesses with a comprehensive overview of their expenses, enabling better control over spending. With real-time tracking of expenditures categorized by project or department, managers can identify spending patterns and areas for cost reduction. This visibility into financial data helps businesses make informed decisions, optimize budgets, and improve overall financial health.

#### Revenue Recognition

Wave's General Ledger serves as the backbone of your financial management system by consolidating all financial transactions into one central location. This comprehensive view facilitates accurate reporting and analysis of financial data across all business operations. By enabling seamless tracking of income and expenses, this feature enhances decision-making processes and supports overall financial health.

#### Fixed Asset Management

Wave's Payroll feature simplifies the payroll process by automating calculations for wages, taxes, and deductions. It ensures employees are paid accurately and on time while remaining compliant with labor regulations. By reducing administrative burden and minimizing errors in payroll processing, this feature allows HR teams to focus on strategic initiatives rather than manual tasks.

#### Multi-Currency

Wave's Tax Management feature simplifies the complexities of tax compliance by automating the calculation of sales tax for transactions based on your location and applicable regulations. This feature ensures that your business remains compliant with local, state, and federal tax laws, significantly reducing the risk of costly penalties due to miscalculations. By streamlining tax reporting and documentation, it saves time and minimizes errors, allowing you to focus on growing your business.

#### Spend Management

Wave’s Cash Management feature offers real-time insights into

Wave’s Expense Tracking feature enables users to record and categorize expenses quickly using mobile devices or desktop applications. By capturing receipts digitally and linking them to specific categories or projects, businesses can maintain accurate expense records effortlessly. This not only simplifies reimbursement processes but also provides valuable insights into spending habits that can inform budgeting strategies.

#### CPA Firms

Wave’s Revenue Recognition feature addresses the challenge of accurately recognizing revenue in accordance with accounting standards such as ASC 606. It automates the process of tracking when revenue is earned based on delivery of goods or services, helping businesses maintain compliance and improve financial reporting accuracy. By ensuring that revenue is recognized at the correct time, this feature enhances transparency and assists in forecasting cash flows more effectively.

#### Purchasing

With the Project Accounting feature, Wave enables businesses to track financial performance on a project-by-project basis. This includes monitoring budgets, expenses, and revenues linked to specific projects. By providing detailed insights into each project's profitability, this feature helps managers make informed decisions regarding resource allocation and project viability, driving improved outcomes for future initiatives.

#### Payroll