Wave's API will be growing new capabilities throughout 2019, and beyond. To help you plan how you'd like to take advantage of integration opportunities with Wave, we'll be sharing and regularly updating our roadmap.
How we prioritize
Before diving into any detail, let's take a moment to explain the goals that drive our prioritization process, and where better to start than with some fundamental design principles of Wave itself?
The heart of Wave is free, easy-to-use accounting software. Historically, accounting was the process of recording financial transactions from input documents such as invoices, bank slips, receipts, etc. Wave's approach is to make it easy for business owners to create or capture these input documents directly, so that the accounting comes "for free".
Take invoicing as an example: rather than creating an invoice in a Word document or some stand-alone system and recording the Sales Income in a separate accounting application, Wave users create and send the invoice directly in Wave. Wave makes it easy to format and send a great-looking invoice, and the bookkeeping of the Sales Income and Accounts Receivable happens automatically with no additional effort.
When the recipient of the invoice pays by credit card using Wave Payments, the same principles apply: Wave processes the payment and deposits the money quickly into our customer's account, and again all the bookkeeping gets done "for free". The receipt of the payment gets correctly tracked through Money in Transit into the appropriate Bank account; the Account Receivable is cleared; the processing fees are expensed; and the transaction is matched against the connected bank account import.
This approach of enabling the primary business action (send an invoice; receive a payment); designing-in user convenience and simplicity; and seamlessly automating the bookkeeping is core to Wave's design process, and extends to how we think about and prioritize developments in our public API.
The main focus of our API development will be to make it easier for customers to capture the original, source activities in whichever systems they use that feed into building the primary input documents that in turn route into Wave's automated and connected workflows and achieve goals such as quick collection of customer payments, alongside complete, accurate, and effortless bookkeeping.
Key Delivery Themes into 2019
2018, Q4 - Developer Preview
Our first release, at the end of 2018, is very much a "Developer Preview", to introduce our new API and Developer resources.
This release is the start of a conversation and collaboration with our Developer community; not the end!
2019, Q1 - Preparatory Work to Enable Invoice APIs
Our original goal for the first Quarter of 2019 was to create the opportunity for independent developers to build invoice integrations for commercial release. Unfortunately, to deliver this capability via new APIs with the quality that we are determined to meet, our team needed to prioritize back-end work on our invoicing systems that needed to be delivered first. This work is continuing as we enter Q2, and is currently blocking release of new Invoice APIs.
At the same time that we have primarily focused on this back-end re-engineering of invoicine, there has been the opportunity to deliver some small updates on our Zapier integrations, and to release a Google Sheets integration that has provided customers with valuable new upload, download and reporting capabilities.
2019, Q2 - Ready for Commercial Use, with Invoice Create
With the additional back-end engineering work to prepare the ground for public invoicing APIs, our planned Q1 scope has been deferred to Q2:
- Registration and Approval process for shareable apps, including issue of OAuth credentials
- APIs that enable creating an Invoice, building line items of existing Products/Services, and using existing Sales Taxes.
Some of the key use cases that we anticipate could exploit these APIs include:
- Project Time-Tracking application connected to Wave to create invoices where Tracked Time => Invoice Line Item.
- Booking, Practice Management, or Resource Management application connected to Wave to create invoice when a meeting, practitioner, or resource is booked.
- Online B2B ordering, with product order converted to invoice.
In parallel to developing the these API capabilities, our team will be working in Q2 to define the design and scope of an Integrations Directory / App Store, to offer independent software vendors an opportunity to promote their Wave-connected solutions.
2019, Q3 - Integrations Directory and more APIs
We currently have Q3 slated to build out and deploy the Integrations Directory. This will allow us to step up the promotion of partner solutions, and support strong reciprocal promotion agreements.
On the APIs side, we plan to be building out integrations to Payroll Timesheets for both Employees and Contractors. This will provide a second integration opportunity for Time Tracking software vendors, in addition to the first use case of invoicing tracked time on customer projects. We will also be enhancing our Invoicing APIs, providing greater control over the approve and send workflow steps, and introducing Transaction APIs.
Future Work Packages
Other APIs planned for 2019 and into 2020 are listed below. These likely will mainly be delivered during the first half of 2020, although we will be alert to any opportunities to bring forward deliverables into the late 2019 where we have specific proposals to work with a partner on a compelling integration that adds value for our customers, or have additional developer resource available.
- Reports data, corresponding to Balance Sheet, Income Statement, Cash Flow Report, and Trial Balance Report.
- Vendors and Bills
- Create and send Estimates
- Create and manage Recurring Invoices
- Create and categorize Receipts
- Apply invoice payments
- Additional CRUD functionality for Accounts, Products, and Sales Taxes