Wave Accounting and FreshBooks Divorce

by Kenneth Hoffman in

You, just like us, may have received an email today letting you know that Waveaccounting and Freshbooks have broken off their relationship.  In computer terms Waveaccounting will no longer work with Freshbooks Application Programming Interface (API).

Since we use both applications in our own business and have found the two to be a great combination, we are very sad to see this happen.

Additionally we are a bit upset that we have less than a week to decide how to address the problem.  For our clients that use either or both Wave and Freshbooks here is how we see the situation.

  • You use Wave but not Freshbooks-There is nothing to do as this change will not impact you at all.  We have not heard any news that Wave will stop working with any other current API's, but given the short notice we received about the breakup, our firm will be digging to find out if this is a trend, so we can be prepared.
  • You use Freshbooks but not Waveaccounting-Again nothing really changes for you.  If you are integrating your Freshbooks with some other app such as Outright, we have no reason to believe those connections are changing.  It appears the disconnect was on the part of Waveaccounting.
  • You have your Freshbooks feed into your Waveaccounting-Unless something changes, we are told by Wave that on December 10, that connection will no longer work.  That means you will have some decisions to make.  Wave does do invoicing and receivables itself, and that is an option.  Also Freshbooks has been beefing up their financial reporting ability in the past year and it may offer you enough functionality as a stand alone program.  There are also other cloud apps which have an active API to Freshbooks, including Outright, Kashoo and Xero.  Additionally Freshbooks will export a csv file for Quickbooks.

We will be evaluating alternatives since our own firm fits this third category, so if you need assistance with this transition, feel free to contact us.

Kenneth Hoffman counsels Entrepreneurs, Professionals and Select Individuals in taking control of their taxes, and businesses. Discover how I can help you overcome your tax and business challenges. To start the conversation or to become a client, call Kenneth Hoffman at (954) 591-8290 Monday - Friday between 8:30 a.m. to 1:00 p.m. for a no cost consultation, or drop me a note.

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