What users are saying about
8 Ratings
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Score 8.8 out of 100
139 Ratings
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Score 6.9 out of 100

Likelihood to Recommend

Accounting Power

Retail, professional services, non-manufacturing, or non-inventory-based clients are a great fit.
Steven Brewer | TrustRadius Reviewer

Wave Accounting

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.
Anonymous | TrustRadius Reviewer

Feature Rating Comparison

Security

Accounting Power
9.5
Wave Accounting
8.7
Single sign-on capability
Accounting Power
10.0
Wave Accounting
8.2
Role-based user permissions
Accounting Power
9.0
Wave Accounting
9.2

Reporting & Analytics

Accounting Power
8.0
Wave Accounting
7.3
Dashboards
Accounting Power
7.0
Wave Accounting
6.8
Custom reports
Accounting Power
9.0
Wave Accounting
8.5
Standard reports
Accounting Power
Wave Accounting
6.7

General Ledger and Configurable Accounting

Accounting Power
8.5
Wave Accounting
6.7
Accounts payable
Accounting Power
9.0
Wave Accounting
6.5
Accounts receivable
Accounting Power
9.0
Wave Accounting
6.7
Cash management
Accounting Power
8.0
Wave Accounting
6.4
Bank reconciliation
Accounting Power
10.0
Wave Accounting
5.5
Expense management
Accounting Power
9.0
Wave Accounting
7.5
Multi-division support
Accounting Power
6.0
Wave Accounting
7.1
Journals and Reconciliations
Accounting Power
8.0
Wave Accounting
5.7
Standardized Processes
Accounting Power
9.0
Wave Accounting
5.8
Time tracking
Accounting Power
Wave Accounting
6.2
Fixed asset management
Accounting Power
Wave Accounting
8.3
Multi-currency support
Accounting Power
Wave Accounting
6.9
Regulations compliance
Accounting Power
Wave Accounting
6.9
Electronic tax filing
Accounting Power
Wave Accounting
6.0
Self-service portal
Accounting Power
Wave Accounting
4.9
Global Financial Support
Accounting Power
Wave Accounting
9.0
Primary and Secondary Ledgers
Accounting Power
Wave Accounting
9.0
Intercompany Accounting
Accounting Power
Wave Accounting
8.0
Localizations
Accounting Power
Wave Accounting
5.3
Enterprise Accounting
Accounting Power
Wave Accounting
4.8
Configurable Accounting
Accounting Power
Wave Accounting
5.8
Centralized Rules Framework
Accounting Power
Wave Accounting
8.1

Payroll Management

Accounting Power
Wave Accounting
7.7
Pay calculation
Accounting Power
Wave Accounting
7.7
Benefit plan administration
Accounting Power
Wave Accounting
7.5
Direct deposit files
Accounting Power
Wave Accounting
8.0
Salary revision and increment management
Accounting Power
Wave Accounting
7.7
Reimbursement management
Accounting Power
Wave Accounting
7.5

Customization

Accounting Power
Wave Accounting
7.9
API for custom integration
Accounting Power
Wave Accounting
8.7
Plug-ins
Accounting Power
Wave Accounting
7.0

Inventory Management

Accounting Power
Wave Accounting
8.1
Inventory tracking
Accounting Power
Wave Accounting
5.6
Automatic reordering
Accounting Power
Wave Accounting
9.9
Location management
Accounting Power
Wave Accounting
8.1
Manufacturing module
Accounting Power
Wave Accounting
9.0

Order Management

Accounting Power
Wave Accounting
7.2
Pricing
Accounting Power
Wave Accounting
7.9
Order entry
Accounting Power
Wave Accounting
7.3
Credit card processing
Accounting Power
Wave Accounting
6.4
Cost of goods sold
Accounting Power
Wave Accounting
7.7
Order Orchestration
Accounting Power
Wave Accounting
5.9
End-to-end order visibility
Accounting Power
Wave Accounting
8.3
Order exception Resolution
Accounting Power
Wave Accounting
7.1

Pros

Accounting Power

  • Simple layout
  • Logical menu and format
  • Flexibility in designing reports
  • Department/location accounting
Steven Brewer | TrustRadius Reviewer

Wave Accounting

  • 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.
Harry Abell | TrustRadius Reviewer

Cons

Accounting Power

  • CPA firm's client interface for delivery of bills to pay
  • Better ACH payment options for bill payment
  • Additional layer of department/location allocation
Steven Brewer | TrustRadius Reviewer

Wave Accounting

  • 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.
J.P. VanderLinden | TrustRadius Reviewer

Likelihood to Renew

Accounting Power

No score
No answers yet
No answers on this topic

Wave Accounting

Wave Accounting 7.8
Based on 3 answers
Easy to use for clients with no accounting background and the price is right.
Jeanne Harris | TrustRadius Reviewer

Usability

Accounting Power

Accounting Power 10.0
Based on 1 answer
It provides everything one needs for accounting services and then some at a price point that makes it very affordable.
Steven Brewer | TrustRadius Reviewer

Wave Accounting

Wave Accounting 6.4
Based on 10 answers
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
Melissa Whaley | TrustRadius Reviewer

Reliability and Availability

Accounting Power

No score
No answers yet
No answers on this topic

Wave Accounting

Wave Accounting 6.7
Based on 4 answers
WAVE is always available when we need it ! Peter
Peter Cullen | TrustRadius Reviewer

Performance

Accounting Power

No score
No answers yet
No answers on this topic

Wave Accounting

Wave Accounting 2.9
Based on 2 answers
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.
Melissa Whaley | TrustRadius Reviewer

Support Rating

Accounting Power

Accounting Power 7.0
Based on 1 answer
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."
Steven Brewer | TrustRadius Reviewer

Wave Accounting

Wave Accounting 5.5
Based on 8 answers
I've only had to reach out to support once and they were quick to respond and offered valuable insight to resolve my issue quickly. The team is knowledgeable and if the person you're dealing with doesn't have an answer for you, they get back to you quickly with an answer. It was clear that the support team is genuinely concerned about users making the most of the software.
Anonymous | TrustRadius Reviewer

Online Training

Accounting Power

No score
No answers yet
No answers on this topic

Wave Accounting

Wave Accounting 4.7
Based on 3 answers
easy to use and east to train on ! Our WAVE clients enjoy the ease of use
Peter Cullen | TrustRadius Reviewer

Alternatives Considered

Accounting Power

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

Wave Accounting

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
Anonymous | TrustRadius Reviewer

Scalability

Accounting Power

No score
No answers yet
No answers on this topic

Wave Accounting

Wave Accounting 3.0
Based on 2 answers
Once they out grow what is ability to move up to a more robust system?
Penny Breslin | TrustRadius Reviewer

Return on Investment

Accounting Power

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

Wave Accounting

  • 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.
Lukas Sundahl, MBA | TrustRadius Reviewer

Screenshots

Pricing Details

Accounting Power

General

Free Trial
Free/Freemium Version
Premium Consulting/Integration Services
Entry-level set up fee?
No

Wave Accounting

General

Free Trial
Free/Freemium Version
Premium Consulting/Integration Services
Entry-level set up fee?
No

Rating Summary

Likelihood to Recommend

Accounting Power
9.0
Wave Accounting
6.0

Likelihood to Renew

Accounting Power
Wave Accounting
7.8

Usability

Accounting Power
10.0
Wave Accounting
6.4

Reliability and Availability

Accounting Power
Wave Accounting
6.7

Performance

Accounting Power
Wave Accounting
2.9

Support Rating

Accounting Power
7.0
Wave Accounting
5.5

Online Training

Accounting Power
Wave Accounting
4.7

Scalability

Accounting Power
Wave Accounting
3.0

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