Accounting Power vs. Bitwave

Retail, professional services, non-manufacturing, or non-inventory-based clients are a great fit.

Incentivized

If you are mainly using Bitcoin, ERC-20 tokens, or any supported chains where they have automatic data retrieval the system is great. The biggest issue, which Bitwave is constantly working on, is not supporting automatic transaction retrieval of specific crypto blockchains. They currently have a workaround by allowing manual uploads of unsupported chains (i.e., layer two chains like Arbitrum or Cosmos-based chains). The Bitwave platform still works excellently with unsupported chains; however, it is just a little more time-consuming b/c transactions are inputted using a CSV file that needs to be correct. But I imagine they will continue to add new supported chains, and since I have been a customer, I have seen the number of blockchains they support at least double.

Incentivized

• Simple layout
• Logical menu and format
• Flexibility in designing reports
• Department/location accounting

Incentivized

• Ability to categorize taxable and non-taxable transactions.
• Able to handle DeFi transactions.
• Documentation support to track digital asset balances & locations.
• Can read token transaction activity better than most wallet explorers.

• CPA firm's client interface for delivery of bills to pay
• Better ACH payment options for bill payment
• Additional layer of department/location allocation
• Invoicing option in mobile app

Incentivized

• Bitwave can seemingly miss picking up some transactions due to glitches, but if you discover them, they can resolve them.
• Ability to re-sync transactions to ERP if there are changes, without having to delete said transaction in ERP first

I do not see a good alternative in the market

Incentivized

It provides everything one needs for accounting services and then some at a price point that makes it very affordable.

Incentivized

Needs some work. Support staff seem to be computer people, not accountants or users of the system. Their answers sometimes seem short and computer-based. Not answered in a way that says, "I have thought through this and here is what I see to do."

Incentivized

Seek out others who have done it and learn from them.

Incentivized

I find Accounting Power to have more flexibility, power, and reporting capability than QuickBooks Online with a simpler interface.

Incentivized

Legible was similar service but too high in pricing. Coinpanda was able to support some chains that Bitwave wasn't able to automatically support; however, Coinpanda was a less professionalized operation with less customer support.

Incentivized

• Allowed for standardized processes
• Improved efficiency in disbursement processing
• Bank feed is easily broken
• ACH payment options are not well established

Incentivized