What users are saying about
161 Ratings
17 Ratings
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Score 8.4 out of 100
161 Ratings
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Score 6.8 out of 100

Feature Set Ratings

  • Accounting Power ranks higher in 3 feature sets: Security, Reporting & Analytics, General Ledger and Configurable Accounting
  • Wave Accounting ranks higher in 1 feature set: Customization

Customization

4.0

Accounting Power

40%
8.4

Wave Accounting

84%
Wave Accounting ranks higher in 2/2 features

API for custom integration

4.0
40%
1 Rating
9.9
99%
9 Ratings

Plug-ins

N/A
0 Ratings
7.0
70%
11 Ratings

Security

9.5

Accounting Power

95%
6.3

Wave Accounting

63%
Accounting Power ranks higher in 2/2 features

Single sign-on capability

10.0
100%
1 Rating
7.2
72%
29 Ratings

Role-based user permissions

9.0
90%
1 Rating
5.5
55%
33 Ratings

Reporting & Analytics

8.0

Accounting Power

80%
6.3

Wave Accounting

63%
Accounting Power ranks higher in 2/3 features

Dashboards

7.0
70%
1 Rating
5.6
56%
67 Ratings

Custom reports

9.0
90%
1 Rating
7.8
78%
34 Ratings

Standard reports

N/A
0 Ratings
5.6
56%
66 Ratings

General Ledger and Configurable Accounting

8.5

Accounting Power

85%
5.3

Wave Accounting

53%
Wave Accounting ranks higher in 14/21 features

Accounts payable

9.0
90%
1 Rating
5.5
55%
55 Ratings

Accounts receivable

9.0
90%
1 Rating
5.7
57%
66 Ratings

Cash management

8.0
80%
1 Rating
5.4
54%
58 Ratings

Bank reconciliation

10.0
100%
1 Rating
5.1
51%
62 Ratings

Expense management

9.0
90%
1 Rating
6.7
67%
60 Ratings

Multi-division support

6.0
60%
1 Rating
7.1
71%
9 Ratings

Journals and Reconciliations

8.0
80%
1 Rating
5.6
56%
28 Ratings

Standardized Processes

9.0
90%
1 Rating
4.5
45%
17 Ratings

Time tracking

N/A
0 Ratings
4.4
44%
10 Ratings

Fixed asset management

N/A
0 Ratings
4.1
41%
11 Ratings

Multi-currency support

N/A
0 Ratings
6.9
69%
18 Ratings

Regulations compliance

N/A
0 Ratings
6.8
68%
15 Ratings

Electronic tax filing

N/A
0 Ratings
5.9
59%
14 Ratings

Self-service portal

N/A
0 Ratings
2.9
29%
39 Ratings

Global Financial Support

N/A
0 Ratings
9.0
90%
2 Ratings

Primary and Secondary Ledgers

N/A
0 Ratings
7.0
70%
4 Ratings

Intercompany Accounting

N/A
0 Ratings
4.0
40%
5 Ratings

Localizations

N/A
0 Ratings
5.2
52%
3 Ratings

Enterprise Accounting

N/A
0 Ratings
4.0
40%
7 Ratings

Configurable Accounting

N/A
0 Ratings
5.5
55%
16 Ratings

Centralized Rules Framework

N/A
0 Ratings
1.0
10%
3 Ratings

Payroll Management

Accounting Power

Feature Set Not Supported
N/A
6.4

Wave Accounting

64%
Wave Accounting ranks higher in 5/5 features

Pay calculation

N/A
0 Ratings
7.1
71%
23 Ratings

Benefit plan administration

N/A
0 Ratings
7.5
75%
4 Ratings

Direct deposit files

N/A
0 Ratings
2.2
22%
20 Ratings

Salary revision and increment management

N/A
0 Ratings
7.7
77%
12 Ratings

Reimbursement management

N/A
0 Ratings
7.4
74%
8 Ratings

Inventory Management

Accounting Power

Feature Set Not Supported
N/A
8.1

Wave Accounting

81%
Wave Accounting ranks higher in 4/4 features

Inventory tracking

N/A
0 Ratings
5.6
56%
8 Ratings

Automatic reordering

N/A
0 Ratings
9.9
99%
5 Ratings

Location management

N/A
0 Ratings
8.1
81%
2 Ratings

Manufacturing module

N/A
0 Ratings
9.0
90%
1 Rating

Order Management

Accounting Power

Feature Set Not Supported
N/A
7.2

Wave Accounting

72%
Wave Accounting ranks higher in 7/7 features

Pricing

N/A
0 Ratings
9.7
97%
26 Ratings

Order entry

N/A
0 Ratings
7.1
71%
17 Ratings

Credit card processing

N/A
0 Ratings
4.2
42%
45 Ratings

Cost of goods sold

N/A
0 Ratings
8.4
84%
32 Ratings

Order Orchestration

N/A
0 Ratings
5.8
58%
5 Ratings

End-to-end order visibility

N/A
0 Ratings
8.2
82%
4 Ratings

Order exception Resolution

N/A
0 Ratings
7.0
70%
2 Ratings

Attribute Ratings

  • Accounting Power is rated higher in 4 areas: Likelihood to Recommend, Likelihood to Renew, Usability, Support Rating

Likelihood to Recommend

9.0

Accounting Power

90%
1 Rating
4.5

Wave Accounting

45%
76 Ratings

Likelihood to Renew

10.0

Accounting Power

100%
1 Rating
7.8

Wave Accounting

78%
3 Ratings

Usability

10.0

Accounting Power

100%
1 Rating
6.1

Wave Accounting

61%
13 Ratings

Availability

Accounting Power

N/A
0 Ratings
6.3

Wave Accounting

63%
8 Ratings

Performance

Accounting Power

N/A
0 Ratings
2.9

Wave Accounting

29%
4 Ratings

Support Rating

7.0

Accounting Power

70%
1 Rating
4.9

Wave Accounting

49%
11 Ratings

Online Training

Accounting Power

N/A
0 Ratings
4.7

Wave Accounting

47%
3 Ratings

Implementation Rating

8.0

Accounting Power

80%
1 Rating

Wave Accounting

N/A
0 Ratings

Product Scalability

Accounting Power

N/A
0 Ratings
3.0

Wave Accounting

30%
2 Ratings

Likelihood to Recommend

AccountantsWorld

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

Wave

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.
Read full review

Pros

AccountantsWorld

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

Wave

  • 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.
Read full review

Cons

AccountantsWorld

  • 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
Read full review

Wave

  • 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.
Read full review

Pricing Details

Accounting Power

Starting Price

Editions & Modules

Accounting Power editions and modules pricing
EditionModules

Footnotes

    Offerings

    Free Trial
    Free/Freemium Version
    Premium Consulting/Integration Services

    Entry-level set up fee?

    No setup fee

    Additional Details

    Wave Accounting

    Starting Price

    Editions & Modules

    Wave Accounting editions and modules pricing
    EditionModules

    Footnotes

      Offerings

      Free Trial
      Free/Freemium Version
      Premium Consulting/Integration Services

      Entry-level set up fee?

      No setup fee

      Additional Details

      Likelihood to Renew

      AccountantsWorld

      I do not see a good alternative in the market
      Read full review

      Wave

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

      Usability

      AccountantsWorld

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

      Wave

      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
      Read full review

      Reliability and Availability

      AccountantsWorld

      No answers on this topic

      Wave

      WAVE is always available when we need it ! Peter
      Read full review

      Performance

      AccountantsWorld

      No answers on this topic

      Wave

      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.
      Read full review

      Support Rating

      AccountantsWorld

      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."
      Read full review

      Wave

      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
      Read full review

      Online Training

      AccountantsWorld

      No answers on this topic

      Wave

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

      Implementation Rating

      AccountantsWorld

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

      Wave

      No answers on this topic

      Alternatives Considered

      AccountantsWorld

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

      Wave

      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
      Read full review

      Scalability

      AccountantsWorld

      No answers on this topic

      Wave

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

      Return on Investment

      AccountantsWorld

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

      Wave

      • 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.
      Read full review

      Screenshots

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