A joint compound guide bead dispenser, for finishing wallboard joints and a process for finishing wallboard joints. The guide bead dispenser includes a housing containing an adhesive coated cord wound on a rotatably mounted spool. The housing has an opening through which the cord passes and a roller rotatably mounted proximate to the opening. A cutting blade is mounted on the housing proximate to the opening. A length of cord may be payed out through the opening. The cord may be adhered to wallboard, proximate to a joint, by applying pressure with the roller and cut to selected length. Joint compound may be applied to cover the joint and smoothed to a uniform feathered finish by resting a straight edged knife on the wallboard and on the guide bead while moving the knife in a joint compound applying stroke.