Cloud accounting software developer Wave released an oft-requested bank reconciliation feature to its entire user base Tuesday after beta testing it for several months with a smaller group of users.
The bank rec feature had been available to select users who participate in the Wave Labs beta program since last December, as well as to accounting professionals in the Wave Pro Network. Both groups provided feedback in developing the feature.
“We have some brilliant, forward-thinking accountants in the Wave Pro Network, and we share a common goal: to reinvent the way small business owners manage the money side of their business,” said Scott Zandbergen, vide president of Wave’s Pro Network, in a statement. “Our Wave Pros are an invaluable resource, and the bank rec feature shows the results of this collaboration.”
Customers and accounting professionals had both requested a bank reconciliation tool. The Wave engineering team developed the feature to make sure it fit with Wave’s approach to small business software of simplifying tasks that traditionally cause small business owners anxiety, while satisfying the rigorous requirements of accounting professionals.
The bank reconciliation feature allows business owners to confirm that all the necessary transactions in a given bank account are represented in their accounting.
According to the company, approximately a million and a half people around the world use Wave, which includes accounting, invoicing, payroll, payments, credit card processing, receipt scanning and personal finance features.
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