Does Wave support non-profit businesses?
Wave supports any business legally recognized as a non-profit organization by a government body, such as the IRS (US) or the CRA (Canada). This means the business is not operated for profit. If you are unsure of your status, consult with an accounting or tax professional.
Does Wave offer discounts for non-profit subscriptions?
No, Wave does not offer discounts for non-profit businesses. However, Wave does have a free Starter Plan with core bookkeeping and invoicing features. When you are ready, you can upgrade to the Pro Plan to unlock more features for your business.
How do I set up my non-profit in Wave?
To set up a non-profit business in Wave, follow the steps below. You can either create a Wave account or add a new business to your Wave account:
- New accounts: Select Other under “What is the legal structure of your business?”, then choose Non-profit from the secondary drop-down menu
- Adding a new business: Select Non-profit, Association & Groups under “Type of Business,” then select the most accurate option in the next field
After that, tailor your Chart of Accounts to reflect your non-profit's activities. For example, you may rename Equity accounts to reflect Net Assets (such as Unrestricted Net Assets), and create specific expense accounts for reporting by function. For US non-profits with 501(c)(3) status, review our [US] Frequently asked questions about 501(c)(3) businesses.
Who should be the owner of the Wave account for a non-profit, and how do we transfer ownership?
The Wave account owner is the person whose email was used to sign up. For a non-profit, this could be a key decision-maker, like a CEO or Vice President. If the account creator leaves, change the primary email address to transfer ownership.
My non-profit has a treasurer. How can the treasurer manage accounting in Wave?
Your treasurer can manage the organization’s accounting using the existing user permissions. While Wave doesn’t offer a dedicated treasurer role, your treasurer can manage accounting using either Editor or Admin Access. Read Understand user types and permission levels for collaborators to learn more.
Only businesses with Wave’s Pro Plan subscription can invite collaborators as Admins, Editors, and Viewers.
Can my non-profit use Wave for online payments?
Yes, if your non-profit is incorporated, you can use Wave's online payments feature. Learn how to set up online payments. When providing the ownership information of the business, enter the details for someone with significant responsibility, such as a CEO or Vice President.
Can my non-profit use Wave for payroll?
Yes, non-profits can use Wave’s payroll feature. Learn how to set up payroll in [Canada] Set up payroll in Wave, or [US] Set up payroll in Wave.
For US businesses with 501(c)(3) status, when completing your business tax profile, you can request to mark your business as FUTA or payroll tax exempt. If your 501(c)(3) non-profit is exempt from a specific state tax, you must also contact Wave Support to apply the exemption status to your business tax profile.
How can I track donations in Wave?
While Wave does not currently have a separate donation tracking feature, you can track donations in Wave by using a custom tag for each fund and adding it to related transactions. Learn how to create or edit a tag.
For now, tags are available to businesses that were created before January 1, 2026, do not use Wave's invoice feature, and are subscribed to Wave's Pro Plan. To subscribe to Pro Plan, see Activate a Pro Plan subscription.
Does Wave support fund accounting?
No, Wave does not support true fund accounting.
How do I change from a non-profit to a for-profit business?
To understand if you can change your business from a non-profit to a for-profit business, consult an accounting professional. Learn what to do when your business structure changes to ensure that your new business structure is accurately represented in Wave.