Acumatica vs. Wave Accounting

I'm so new to it. I mean it has a lot of capabilities. So I'm used to working with Infor products, so I'm used to large ERP systems and I haven't seen anything that makes me question Acumatica. It seems like I can customize anything and have the system to do what I need. So I mean that's one advantage point why we selected Acumatica is because it can be tailored to our business and to what we need and the way we want to do it

Incentivized

Wave Accounting was used for a small practice without a lot of the accounting considerations a large company would have. For the price, you really can't beat what Wave offers out of the box. All of the basic tools for things like invoicing and expenses are all easy to use. End of year accounting is easy with exports of data.

Incentivized

• Streamlines our processes and simplifies our systems. Previously, we had to manage two software systems to handle an order and get it out the door with proper shipping documentation. Now, we were able to deploy the shipping document creation inline with the sales order process and streamline our process. This allows us to save about $3K a year just on time savings alone (in creating shipping documentation). This was a nice win for us for this project.
• Financial Reporting is simplified and flexible for our needs. We are estimating a time savings of around $14.5K per year in time spent creating reports through manual manipulation. The reporting capabilities are much more flexible and allow for greater visibility than our previous ERP.

Incentivized

• Reconciliation is very difficult with multiple Wave transactions that need to be deleted or merged before it can be matched to a bank transaction.
• Payroll worked fine for us but took several days to get it set up. We have switched to another bookkeeping system and another payroll system. Canceling with Wave took several days and they charge $6 for something even though the month was paid for in advance.
• Credit card processing is nice and worked fine for us.

• Manufacturing suite. You have all the time. So for the Manufacturing edition, you're able to have negative issues that are unlimited and are not balanced into a job that needs to be improved. The mobile app itself for warehouse picking and management sets the default item to one. This is not how most warehouses that I've ever worked at operate. Bomb hierarchy and respectful of child elements. These are nitty gritty elements, but these are kind of down-and-dirty items that need to improve. But overall it's pretty good.

Incentivized

• I know that credit card processing is a way for Wave to make money, but I really wish they offered ACH payment on Invoices.
• I do cash-based accounting, which means I have to make little journal entries at the start and end of each year to get my books to balance because Wave wants to do everything differently. This should just be a setting to flip, whether you want cash-based or accrual-based.
• They use Yodlee for bank connection, which doesn't play nice with 2FA. Pretty much every time I log in I have to re-enter credentials, get a code sent to me, reauthenticate, and know that I'm going to have to do it again next week. Not really on Wave, but wish they could get it together nonetheless.

Incentivized

We aren’t going to switch at this point! It’s a great system and we are looking forward to realizing the full potential of the system once we can find a VAR who has a bench that can support us.

Incentivized

Easy to use for clients with no accounting background and the price is right.

Most "things" are intuitive which makes the software nice. A few other "things" make no sense and come from a programmers mind, not a users experience.

Incentivized

I am a professional bookkeeper and I have no problems using Wave and all of it's features. I can see that certain individuals who have no accounting knowledge might struggle with a few different features and entries, but that is why Wave has an emphasis in connecting users to Wave Pro's who will walk them through things

WAVE is always available when we need it ! Peter

there have been some performance issues

Incentivized

Wave does tend to slow down when filtering your transactions screen especially by date. This is more of an issue when trying to trouble shoot certain transactions or clean-up a set of books.

We used Acumatica Support directly for the first year or so. Overall it's pretty good, but sometimes the support staff wasn't educated on the customizations we had, nor was I as the Customer as I couldn't remember which things were customized and which things were out of the box, so when there was an error, there were some misunderstandings.

Incentivized

I never had to call Wave Support as we barely experienced any support-related problems on our side. However, I do know a few people that complained about Wave support. It would be nice as well, though if they could have more in your face tutorials for new users or how-to videos should we struggle to do something

easy to use and east to train on ! Our WAVE clients enjoy the ease of use

I'd say the partner selection is critically important. I think the software is very easy to implement. It's very customizable to your business. Finding a partner that will work with you to understand your business and your needs is the critical piece to make sure that the system goes along with it.

Incentivized

Well, we decided to go with Acumatica and I believe it was a really good decision. The VAR was a big part of that as well because of their insights and knowledge, but I just felt Acumatica was the right fit for us in size and it had the capabilities we needed, but it also wasn't overkill.

Incentivized

Wave is FREE for most functions. Payment processing costs no matter where you go (as does payroll or taxes). Wave rises above tools like QuickBooks Online because they know that for our small firm, being nimble is the name of the game. We don't need exhaustive reporting and management like QB offers and we certainly don't want to pay for it

Incentivized

Once they out grow what is ability to move up to a more robust system?

• Definitely positive because we're able to give data to the end users much quicker. Were they able to make more accurate and timely financial decisions and kind of know where they're at, and how much money do I have left to spend for the month? Things like that. And our CFO is able to utilize the data more quickly.

Incentivized

• Wave has been ROI positive for our company. With not having to pay for the service we can use our money for growing our business.
• The fees on credit card transactions for invoices are reasonable especially as we don't pay a monthly subscription.
• The invoicing feature has made our lives easier for us and our customers. The invoicing piece and AR tracking has been ROI positive as well.

Incentivized