What users are saying about

Accounting by Wave

Top Rated
97 Ratings

Acumatica 5.0

10 Ratings

Accounting by Wave

Top Rated
97 Ratings
Score 9.1 out of 101

Acumatica 5.0

10 Ratings
Score 8.5 out of 101

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Likelihood to Recommend

Accounting by Wave

I have recommended it to many small businesses because first off, it works. Setup and daily use it is easy. There is no cost outside of any payment transaction processing fees. You can probably find lower fees, but they are not out of line with other services.
No photo available

Acumatica 5.0

As I have only used it in one business I can't say too much how relevant it would be for other types of business, eg Retail or Manufacturing. It doesn't appear to be specifically set up for ecommerce.

We wholesale products and it works well for that kind of business model.
Justin Leflaive profile photo

Feature Rating Comparison

Payroll Management

Accounting by Wave
7.9
Acumatica 5.0
Pay calculation
Accounting by Wave
8.4
Acumatica 5.0
Benefit plan administration
Accounting by Wave
7.5
Acumatica 5.0
Direct deposit files
Accounting by Wave
8.0
Acumatica 5.0
Salary revision and increment management
Accounting by Wave
7.7
Acumatica 5.0
Reimbursement management
Accounting by Wave
8.0
Acumatica 5.0

Customization

Accounting by Wave
9.1
Acumatica 5.0
7.0
API for custom integration
Accounting by Wave
8.9
Acumatica 5.0
7.0
Plug-ins
Accounting by Wave
9.2
Acumatica 5.0

Security

Accounting by Wave
8.6
Acumatica 5.0
7.0
Single sign-on capability
Accounting by Wave
9.0
Acumatica 5.0
Role-based user permissions
Accounting by Wave
8.2
Acumatica 5.0
7.0

Reporting & Analytics

Accounting by Wave
8.5
Acumatica 5.0
6.7
Dashboards
Accounting by Wave
8.5
Acumatica 5.0
4.0
Standard reports
Accounting by Wave
8.3
Acumatica 5.0
7.0
Custom reports
Accounting by Wave
8.6
Acumatica 5.0
9.0

General Ledger and Configurable Accounting

Accounting by Wave
8.2
Acumatica 5.0
8.3
Accounts payable
Accounting by Wave
8.5
Acumatica 5.0
10.0
Accounts receivable
Accounting by Wave
9.2
Acumatica 5.0
8.0
Cash management
Accounting by Wave
8.2
Acumatica 5.0
Bank reconciliation
Accounting by Wave
7.8
Acumatica 5.0
Expense management
Accounting by Wave
8.6
Acumatica 5.0
Time tracking
Accounting by Wave
7.3
Acumatica 5.0
Fixed asset management
Accounting by Wave
6.2
Acumatica 5.0
Multi-currency support
Accounting by Wave
8.6
Acumatica 5.0
Multi-division support
Accounting by Wave
7.6
Acumatica 5.0
Regulations compliance
Accounting by Wave
7.3
Acumatica 5.0
Electronic tax filing
Accounting by Wave
6.0
Acumatica 5.0
Self-service portal
Accounting by Wave
9.1
Acumatica 5.0
Global Financial Support
Accounting by Wave
9.0
Acumatica 5.0
5.0
Primary and Secondary Ledgers
Accounting by Wave
9.3
Acumatica 5.0
Intercompany Accounting
Accounting by Wave
8.7
Acumatica 5.0
9.0
Localizations
Accounting by Wave
9.5
Acumatica 5.0
Journals and Reconciliations
Accounting by Wave
8.4
Acumatica 5.0
10.0
Enterprise Accounting
Accounting by Wave
8.7
Acumatica 5.0
Configurable Accounting
Accounting by Wave
8.5
Acumatica 5.0
Centralized Rules Framework
Accounting by Wave
9.0
Acumatica 5.0
Standardized Processes
Accounting by Wave
7.9
Acumatica 5.0
8.0

Inventory Management

Accounting by Wave
8.9
Acumatica 5.0
8.5
Inventory tracking
Accounting by Wave
9.5
Acumatica 5.0
9.0
Automatic reordering
Accounting by Wave
8.0
Acumatica 5.0
Location management
Accounting by Wave
9.0
Acumatica 5.0
8.0
Manufacturing module
Accounting by Wave
9.0
Acumatica 5.0

Order Management

Accounting by Wave
7.9
Acumatica 5.0
9.3
Pricing
Accounting by Wave
8.3
Acumatica 5.0
10.0
Order entry
Accounting by Wave
8.3
Acumatica 5.0
9.0
Credit card processing
Accounting by Wave
9.1
Acumatica 5.0
Cost of goods sold
Accounting by Wave
8.9
Acumatica 5.0
8.0
Order Orchestration
Accounting by Wave
8.0
Acumatica 5.0
End-to-end order visibility
Accounting by Wave
4.7
Acumatica 5.0
10.0
Order exception Resolution
Accounting by Wave
8.0
Acumatica 5.0

Accounting Firm BPO Features

Accounting by Wave
8.0
Acumatica 5.0
Branded client dashboards
Accounting by Wave
8.0
Acumatica 5.0
Client data roll-up capabilities
Accounting by Wave
8.0
Acumatica 5.0
Client data consolidation for benchmarking
Accounting by Wave
7.5
Acumatica 5.0
Configurable alerts
Accounting by Wave
8.0
Acumatica 5.0
Billing bypass
Accounting by Wave
8.0
Acumatica 5.0
Client template cloning
Accounting by Wave
8.0
Acumatica 5.0
Single sign-on
Accounting by Wave
9.0
Acumatica 5.0
Configurable client onboarding questions
Accounting by Wave
8.0
Acumatica 5.0
Cross-client workflow management
Accounting by Wave
8.0
Acumatica 5.0
Industry-specific versioning
Accounting by Wave
8.0
Acumatica 5.0
Legacy system data migration
Accounting by Wave
8.0
Acumatica 5.0

Subledger and Financial Process

Accounting by Wave
Acumatica 5.0
6.8
Automated Invoice Processing
Accounting by Wave
Acumatica 5.0
7.0
Customer Collections
Accounting by Wave
Acumatica 5.0
7.0
Cash Management
Accounting by Wave
Acumatica 5.0
7.0
Period Close
Accounting by Wave
Acumatica 5.0
6.0

Pros

  • The dashboard provides instant views of month-by month income & expenses for the past 12-24 months, a breakdown of current year expense by category, and net income for the past year and year-to-date.
  • Invoicing has easy templated set up has lots of per invoice options such as single/recurring payment options, due dates.
  • Year end reports are easy to generate in either pdf or csv format.
No photo available
  • Generic Inquiries are a very easy way to create custom reports.
  • The automation schedules are useful, we use these for confirming of shipments, creating invoices and emailing them. Reduces workload.
  • Open for integration with other software. We find the ease of connection to MS PowerBI very useful.
Justin Leflaive profile photo

Cons

  • One area of improvement for Wave would be combining the various mobile applications into one app.
  • Another room for improvement would be on the dashboard level. It would be great if they could use more bar graphs and get away from pie charts for things like expenses.
  • Some of the other areas from improvement have been addressed by recent updates so I am excited to see what else Wave brings out.
Lukas Sundahl, MBA profile photo
  • The CRM module is very basic.
  • There is no supplier remittance function.
  • The API is basic, our ecommerce integration has had to be built nearly from scratch.
Justin Leflaive profile photo

Likelihood to Renew

Accounting by Wave7.8
Based on 3 answers
Easy to use for clients with no accounting background and the price is right.
Jeanne Harris profile photo
Acumatica 5.09.0
Based on 1 answer
It is very customisable and good value for money. It is also scalable for the future. The CRM and ecommerce integtration are the main downsides.
Justin Leflaive profile photo

Usability

Accounting by Wave5.3
Based on 4 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 profile photo
No score
No answers yet
No answers on this topic

Reliability and Availability

Accounting by Wave6.7
Based on 4 answers
WAVE is always available when we need it ! Peter
Peter Cullen profile photo
No score
No answers yet
No answers on this topic

Performance

Accounting by Wave2.9
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 profile photo
No score
No answers yet
No answers on this topic

Support

Accounting by Wave9.0
Based on 1 answer
If they had live chat service then I'd rate this a 10.
Matthew Gehrman profile photo
No score
No answers yet
No answers on this topic

Online Training

Accounting by Wave4.7
Based on 3 answers
easy to use and east to train on ! Our WAVE clients enjoy the ease of use
Peter Cullen profile photo
No score
No answers yet
No answers on this topic

Alternatives Considered

Wave was more affordable and we were already using it for accounting. The services offered are comparable and quite reliable.
Geri Lynn Peak profile photo
NetSuite is much more expensive and is difficult to customise or integrate.
SAP is a more complex and powerful system, but several times more expensive to implement and run.
Justin Leflaive profile photo

Rating for Public Practice CPAs

Accounting by Wave8.0
Based on 8 answers
I rated the software an 7 due to its ease of use. It would be rated higher, but I consider this to be a niche product instead of a go to product for all clients. This is the software to use if you want an inexpensive entry level software for an owner managed business.
Randy O'Malley profile photo
No score
No answers yet
No answers on this topic

Scalability

Accounting by Wave3.0
Based on 2 answers
Once they out grow what is ability to move up to a more robust system?
Penny Breslin profile photo
No score
No answers yet
No answers on this topic

Return on Investment

  • Automatic bank transaction downloads really speeds up income and expense capture, as well as bank reconciliations.
  • Having a low cost (or in this case free) product encourages clients to use all of the features available without fear of being overcharged
  • The ability for the client to see their data online in real time whenever they want really makes the bookkeeping process much more efficient and transparent.
Eric Matthews profile photo
  • Time to match customer payments has decreased by approximately 30%.
  • Time to enter sales orders has decreased by approx 10%.
  • It has enabled up to easily access our system remotely, meaning we are able to be more flexible in our work.
Justin Leflaive profile photo

Pricing Details

Accounting by Wave

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

Acumatica 5.0

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