Wave Accounting for Beginners
Learn Wave, free accounting software, on real Wave screens: find the chart of accounts and record a transaction, invoice a customer and record the payment, then enter and pay a bill and start a bank reconciliation.
Wave Accounting for Beginners is a free, hands-on AI course for small business owners, freelancers and office staff who keep the books without an accounting background: 3 short modules (about 28 minutes in all) where you do each step yourself in a safe practice copy of Wave, which checks your work. No coding, no cost, and you can start without signing up.
Who it’s for: Small business owners, freelancers and office staff who keep the books without an accounting background. Wave's free Starter plan; nothing to install.
Why this course
Wave is free accounting software for small businesses. The free Starter plan covers what most small businesses do every week: record what came in and went out, send invoices, enter bills and pull a Profit & Loss and a Balance Sheet. Automatic bank imports and receipt scanning are part of the paid Pro plan.
The three modules follow one made-up business, Maya's, through the jobs her accountant asks for: every transaction categorized, every customer payment recorded against its invoice so income is counted once, every supplier bill entered and paid from the books, and the bank account reconciled at month end. Every practice screen is a real Wave screen, captured on the free plan.
What you’ll build
- Module 1: One categorized transaction in Wave (a $64.20 withdrawal for printer paper, filed under Office Supplies) and the two reports that show it: an operating expense on the Profit & Loss and less cash on the Balance Sheet.
- Module 2: A $420 invoice that went from Draft to Sent to paid in full, with the payment recorded against it so the income is counted once, and an Aged Receivables report showing $0.00 unpaid.
- Module 3: A $250 supplier bill with a new vendor and a due date, paid from the books so it shows Paid with $0.00 due and no second expense, and Wave’s reconciliation switched on for the month-end check.
- Module 1 · Wave · Beginner · ~10 min
Wave: Chart of Accounts, Transactions and Reports
Maya (made up) runs a small dog-walking business and has outgrown her spreadsheet. Her accountant wants the books in accounting software, with every transaction categorized each week, so a Profit and Loss and a Balance Sheet can be pulled at any time. She wants something free to start with.
- Module 2 · Wave · Beginner · ~10 min
Wave: Create an Invoice and Record the Payment
Maya (made up) now sends invoices from her accounting software. Last month she recorded a client’s $600 payment as a brand-new sale, and her accountant found that April’s revenue was $600 too high.
- Module 3 · Wave · Beginner · ~8 min
Wave: Enter a Bill, Pay It and Reconcile
Maya (made up) almost paid the same $250 supplies bill twice because it lived in her email, not in her books. Her accountant wants bills entered when they arrive, paid from the books so they clear, and the cash account reconciled every month.
Prerequisites
- For the practice: a web browser. Each module runs in a copy of the real tool’s screens, so you need no account and no sign-up to start module 1.
- To do it for real: a free Wave account. Each module says which one it uses.
Time to complete
About 28 minutes of hands-on practice across 3 modules (35 steps in all). Modules take 8 to 10 minutes each, so you can do one in a sitting and come back for the next.
Take it with you
Wave accounting cheat sheet: the settings and words from this course on one printable page. Read it online · Download the PDF
Glossary
Questions about this course
Is Wave Accounting for Beginners free?
Yes. All 3 modules of Wave Accounting for Beginners are free, and you can start module 1 without signing up.
How long does Wave Accounting for Beginners take?
About 28 minutes of hands-on practice across 3 modules, beginner. Each module takes 8 to 10 minutes, so you can do one at a time.
Which tools will I practice in?
Wave. You practice in a copy of each tool's real screens that checks every step, so nothing touches your real accounts, and no coding is needed.
Who is Wave Accounting for Beginners for?
Small business owners, freelancers and office staff who keep the books without an accounting background. Wave's free Starter plan; nothing to install.
Where do I start?
Start with module 1, Wave: Chart of Accounts, Transactions and Reports. The modules are in order, so each one builds on the last.
Is Wave accounting really free?
Wave's Starter plan is free: invoices, bills, transactions you add by hand or upload as a bank CSV, and reports such as the Profit & Loss and the Balance Sheet. Automatic bank imports and receipt scanning need the paid Pro plan, and online card and bank payments from customers have per-transaction fees.
Do I need accounting experience for this Wave course?
No. Each module starts with the business problem in plain words, then you click through the real Wave screens one step at a time. If debits, credits or receivables are new to you, the glossary links on this page explain them.
Will the practice change my Wave account?
No. The practice is built from real Wave screenshots, so nothing touches your account. Each module ends with a checklist to repeat the steps in your own free Wave account, ideally on a practice business first.
What do I need before I start Wave Accounting for Beginners?
Only a web browser for the practice: it runs in a copy of each tool's screens, so you need no account and no sign-up to start module 1. To repeat a module in your own tools afterwards, the modules list a free Wave account.
What will I build in Wave Accounting for Beginners?
A finished result in 3 of the 3 modules, for example: One categorized transaction in Wave (a $64.20 withdrawal for printer paper, filed under Office Supplies) and the two reports that show it: an operating expense on the Profit & Loss and less cash on the Balance Sheet; A $420 invoice that went from Draft to Sent to paid in full, with the payment recorded against it so the income is counted once, and an Aged Receivables report showing $0.00 unpaid; A $250 supplier bill with a new vendor and a due date, paid from the books so it shows Paid with $0.00 due and no second expense, and Wave’s reconciliation switched on for the month-end check.