How does ForProfit.io work?

Upload your bank statement (PDF, CSV, or text). Our AI reads every transaction and categorizes it using industry-specific categories. You review the results, make any adjustments, and download a professional Profit & Loss statement.

What banks do you support?

We support any US bank that lets you download or export statements as PDF, CSV, or text files. That includes Chase, Bank of America, Wells Fargo, US Bank, Capital One, and thousands more.

Can I upload consolidated statements?

Yes, but for the most accurate results we recommend uploading individual monthly statements — one account per file. Consolidated statements are accepted but may require additional review.

How long does processing take?

Most statements are processed in under 5 minutes. Complex statements with hundreds of transactions may take slightly longer. You’ll see results as soon as processing completes.

What formats can I download my P&L in?

You can download your P&L as a PDF (print-ready), CSV (for spreadsheets), or a detailed transaction CSV with every categorized transaction. You can also print directly from your browser.

Can I edit or change a category?

Yes! You have full control. Click any category to change it, and the system will offer to apply the same change to similar transactions automatically. You can also add custom categories.

Is this Cash Basis or Accrual Basis?

Cash basis — by design. Because we build your P&L directly from your bank activity, we count income when the money actually lands and expenses when it actually leaves. That’s exactly what cash basis means, it’s the method most small businesses use, and it’s what most CPAs expect for tax preparation.

Can my accountant use these reports?

Absolutely. You get professional reports including a P&L Summary with category totals and a P&L Detail Sheet showing every transaction itemized under its category (with clean descriptions — no banking jargon). Business plans and above also get quarterly and annual reports, expense trends, and comparison tools. Download as PDF or CSV.

Do you work with CPAs or tax firms?

Yes! Our Bookkeeper Pro plan ($149/mo) is designed for professionals managing multiple clients, with white-label reports, bulk upload, category templates, and client management tools.

How does pricing work?

Try it free with 1 statement — free account, no card required. Paid plans are simple monthly subscriptions: Starter ($29/mo), Business ($49/mo), and Bookkeeper Pro ($149/mo). Each tier includes unlimited uploads within your account limits. Need more? Add extra accounts ($5/mo) or, on Pro, extra clients ($10/mo). No per-statement charges.

Yes. You can upgrade or downgrade your plan anytime from your Profile page. Upgrades take effect immediately. Downgrades take effect at the end of your current billing period.

How do I cancel my subscription?

You can cancel anytime from your Profile page in the dashboard. Click ‘Cancel Subscription’ and confirm. You’ll keep full access until the end of your billing period — we don’t cut you off early. After that, your account downgrades to Free and your data is saved — come back and resubscribe anytime to restore full access.

How accurate is the AI categorization?

Our AI achieves 85–95% accuracy depending on the complexity of your transactions and industry. You always have full control to review and change any category before generating your P&L.

What about personal transactions mixed in?

If you indicate that personal and business funds are mingled, our AI will flag likely personal transactions (groceries, streaming services, etc.) and exclude them from your P&L automatically. You can always adjust.

How do you handle check payments?

Checks with unclear payees (e.g., CHECK #1042) are categorized as “Subcontractor” by default since that’s the most common use case. You can easily change the category during review.

Is my financial data secure?

Your security is our top priority. You upload statements yourself — we never connect to your bank or ask for your banking login. Statements travel over encrypted connections (TLS/HTTPS) and are kept in private, access-controlled storage, encrypted at rest. Your reports and data are scoped so only you can see them — no other customer can reach your information. Payments run entirely through Stripe (PCI DSS Level 1); we never see or store your card numbers. Authentication uses a SOC 2-compliant identity provider with email verification.

Who can see my financial data?

Only you can access your financial data. Our database enforces Row Level Security, meaning each user can only query their own data. Our admin team can access data only for support purposes (such as Expert Reviews you request). We never sell, share, or use your financial data for advertising. AI-powered categorization is processed in real-time only — your data is not stored by the AI service.

What happens to my data if I cancel?

Your data stays safe after your billing period ends — there’s no deletion deadline. You can resubscribe anytime and everything is restored. If you’d rather remove your data, you can permanently delete your account anytime from your Profile page. We still recommend downloading your reports and transactions as CSV for your own records.

No. We will never sell, trade, or share your financial data with third parties for marketing or advertising purposes. Your data is used solely to provide the ForProfit.io service. See our Privacy Policy for complete details.

We’d love to help. Reach out to support@forprofit.io and we’ll get back to you within 24 hours.

Wave Accounting Alternative: Is Wave Still Free in 2026?

What Wave's free and Pro tiers actually include in 2026, when Wave wins for invoicing, and when a statement-to-P&L service fits better.

By The ForProfit.io TeamJuly 17, 20267 min read

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The Short Answer

Wave is still partly free in 2026 — but the free Starter plan now requires manual CSV bank importsand leaves out bank reconciliation and human support, while automatic bank feeds, receipt scanning, and live support sit on the paid Pro tier. If you invoice clients and want free invoicing, Wave is still a strong pick. If you don't invoice through software and mainly need a Profit & Loss statement, a statement-to-P&L service is a closer fit.

What Wave Costs in 2026

Pricing below is as of mid-2026; confirm current terms on Wave's site:

Wave Starter — free. Invoicing and basic accounting, but manual CSV bank imports, no bank reconciliation, and no human support.
Wave Pro — about $16/mo billed annually (roughly $19–20 month to month): automatic bank feeds via Plaid, receipt scanning, and live support.
Receipt scanning is an $8/mo add-on on the free Starter plan if you don't upgrade to Pro.

So "is Wave still free?" is really "free for what?" Invoicing, yes. Automated bookkeeping conveniences, increasingly not.

When Wave Is the Right Choice

Wave wins when you invoice clients and want free invoicing plus payment collection. Its invoicing has long been genuinely free, and if that's your core need — send invoices, get paid, keep light books — Wave is hard to beat on price. Choose Wave (or another accounting suite) if you also need accrual books, or ongoing accounts receivable/payable tracking. We'll say it plainly: a report generator is not an invoicing platform.

When ForProfit.io Wins

ForProfit.io is the better fit when you don't invoice through software and you have statements and need reports. Most self-employed people don't need an accounting system to maintain — they need a clean P&L, periodically. (If your finances are simple enough, a free P&L template may be all you need.) You upload the bank statements you already have, the AI categorizes each transaction (aligned to Schedule C lines), and you download a lender- and tax-ready P&L in minutes — no manual CSV wrangling, no Plaid connection, no subscription to babysit between reports.

Side-by-Side Comparison

	Wave	ForProfit.io
What it is	Invoicing + light accounting suite	Statement-to-P&L report generator
Pricing (mid-2026)	Free Starter; Pro ~$16/mo annual	Free first statement, then $29/mo
Bank data	Manual CSV (free) or Plaid feeds (Pro)	Upload the statement directly
Maintenance	Ongoing categorizing	None between reports
Best for	Invoicing and collecting payments	Periodic P&L from statements you have

Frequently Asked Questions

Is Wave still free in 2026?

Partly. As of mid-2026, Wave's Starter plan is still free but it requires manual CSV bank imports and does not include bank reconciliation or human support. Automatic bank feeds, receipt scanning, and live support live on Wave Pro, which is about $16/mo billed annually (roughly $19–20 month to month). Receipt scanning alone is an $8/mo add-on on the free Starter plan. Verify current terms on Wave's site.

What's a good alternative to Wave if I just need a P&L?

If you don't invoice through software and mainly need a Profit & Loss statement, a statement-to-P&L service like ForProfit.io is a closer fit than any accounting suite. You upload the bank statements you already have and get a categorized P&L in minutes — free for your first statement, then $29/mo — with no bank connection to maintain.

Does Wave's free plan include automatic bank feeds?

No. As of mid-2026, the free Starter plan requires manual CSV bank imports. Automatic bank feeds via Plaid are a Wave Pro feature. If manual CSV work is the friction you're trying to avoid, that's worth factoring into the comparison.

Do I need Wave at all if I only want reports?

Not necessarily. Wave earns its place when you invoice clients and want free invoicing plus payment collection. If you don't invoice through software and just need periodic reports from your bank statements, an accounting suite is more than the job requires.

Skip the CSV Imports

Upload a PDF or CSV bank statement and ForProfit.io returns a categorized P&L in minutes — free to start, no bank connection, no card required.

Try Free