Administrative tasks are the primary complaint among private music teachers. Bookkeeping, accounting, and invoicing can be agonizing for some. In fact, I taught for multiple music store\/music lessons companies before starting my studio because I simply wanted someone else to deal with the money aspect. \u00a0That is why I am so thankful I found Wave<\/a> when I did. Even if you are a whiz at accounting in your business, Wave can make it easier and more time effective. Isn’t that what we’re really looking for in all of our businesses?<\/p>\n <\/a><\/p>\n One of the best things about Wave<\/a> is the ease of set-up. You can be processing credit card payments as soon as you start! When I started the private studio, I was using Dwolla<\/a> to process online payments. For one, I’m a big fan of supporting Des Moines-based businesses. Secondly, they have a fantastic rate for credit card processing. However, the functionality of Wave won me over in the end. I can use the one site for so many aspects of the business that ease of use brought me to using Wave solely.<\/p>\n Wave safely and securely helps you connect your business bank and credit card accounts. They import three months of data to help you do your projections, reports, and breakdown of expenses.<\/p>\n After you’ve connected your accounts, it is important to categorize your expenses. This really helps when it comes to tax time especially since you are running your own business.<\/p>\n Wave even offers a receipt scanning app<\/a> in case you’re used to paying for things in cash.<\/p>\n With Wave it’s easy to create invoices from any of your devices. They’ve really thought all this stuff through so you don’t have to. You are able to customize your invoices at the outset with things like a company logo, various products (or services) offered, and pricing structure. I have a number of products saved such as “Piano Lessons – 30 Minutes”, “Performance”, and “Blog and Social Media Services.” These populate a drop-down menu when you go to create a new invoice or you can add a new products\u00a0while you make the invoice.\u00a0You can also add customers before creating invoices or add new customers as you create the invoice.<\/p>\n Wave allows you to customize your invoices with company logo, various products offered, & pricing structure.<\/a><\/p>\n<\/blockquote>\n In my private studio, I always invoice at the beginning of the month. I make it clear in the policies that invoices are expected to be paid by the fifth of every month. That means that I’m sending out invoices before the first of every month to make sure my clients have a chance to pay by their preferred method by the fifth. Wave allows you to add a deadline to the invoice so clients are reminded and you can easily see that status of each in your invoice list. I also get an email each time a client pays online so it is easy for me to update my schedule and payment spreadsheet.<\/p>\nAccounting with Wave for Private Music Teachers<\/h2>\n
Connect Your Accounts<\/h3>\n
Creating Invoices<\/h3>\n
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