What users are saying about

Accounting by Wave

Top Rated
97 Ratings

Adaptive Insights

Top Rated
204 Ratings

Accounting by Wave

Top Rated
97 Ratings
Score 9 out of 101

Adaptive Insights

Top Rated
204 Ratings
Score 8.7 out of 101

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Likelihood to Recommend

Accounting by Wave

Wave is great for a small consulting shop like mine. I'm sure that there are more sophisticated systems out there but I have a limited number of expenses and invoices each year - for me, Wave meets my needs. They've made significant improvements to their dashboard over the past three years and have not changed the cost (FREE for my instance).
Kristy Nittskoff profile photo

Adaptive Insights

It is well suited for mid-size companies to have a budgeting, forecasting, and reporting platform. The system needs data and someone to maintain it so it would not be well suited for a small company or one without a dedicated finance team.
Brian Kyslinger profile photo

Feature Rating Comparison

Payroll Management

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

Customization

Accounting by Wave
9.1
Adaptive Insights
API for custom integration
Accounting by Wave
8.9
Adaptive Insights
Plug-ins
Accounting by Wave
9.2
Adaptive Insights

Security

Accounting by Wave
8.6
Adaptive Insights
Single sign-on capability
Accounting by Wave
9.0
Adaptive Insights
Role-based user permissions
Accounting by Wave
8.2
Adaptive Insights

Reporting & Analytics

Accounting by Wave
8.5
Adaptive Insights
Dashboards
Accounting by Wave
8.4
Adaptive Insights
Standard reports
Accounting by Wave
8.3
Adaptive Insights
Custom reports
Accounting by Wave
8.6
Adaptive Insights

General Ledger and Configurable Accounting

Accounting by Wave
8.2
Adaptive Insights
Accounts payable
Accounting by Wave
8.4
Adaptive Insights
Accounts receivable
Accounting by Wave
9.1
Adaptive Insights
Cash management
Accounting by Wave
8.1
Adaptive Insights
Bank reconciliation
Accounting by Wave
7.8
Adaptive Insights
Expense management
Accounting by Wave
8.5
Adaptive Insights
Time tracking
Accounting by Wave
7.3
Adaptive Insights
Fixed asset management
Accounting by Wave
5.2
Adaptive Insights
Multi-currency support
Accounting by Wave
8.6
Adaptive Insights
Multi-division support
Accounting by Wave
7.4
Adaptive Insights
Regulations compliance
Accounting by Wave
7.3
Adaptive Insights
Electronic tax filing
Accounting by Wave
6.0
Adaptive Insights
Self-service portal
Accounting by Wave
9.1
Adaptive Insights
Global Financial Support
Accounting by Wave
9.0
Adaptive Insights
Primary and Secondary Ledgers
Accounting by Wave
9.3
Adaptive Insights
Intercompany Accounting
Accounting by Wave
8.7
Adaptive Insights
Localizations
Accounting by Wave
9.5
Adaptive Insights
Journals and Reconciliations
Accounting by Wave
8.4
Adaptive Insights
Enterprise Accounting
Accounting by Wave
8.7
Adaptive Insights
Configurable Accounting
Accounting by Wave
8.7
Adaptive Insights
Centralized Rules Framework
Accounting by Wave
9.0
Adaptive Insights
Standardized Processes
Accounting by Wave
7.9
Adaptive Insights

Inventory Management

Accounting by Wave
8.9
Adaptive Insights
Inventory tracking
Accounting by Wave
9.5
Adaptive Insights
Automatic reordering
Accounting by Wave
8.0
Adaptive Insights
Location management
Accounting by Wave
9.0
Adaptive Insights
Manufacturing module
Accounting by Wave
9.0
Adaptive Insights

Order Management

Accounting by Wave
7.8
Adaptive Insights
Pricing
Accounting by Wave
8.1
Adaptive Insights
Order entry
Accounting by Wave
8.0
Adaptive Insights
Credit card processing
Accounting by Wave
9.1
Adaptive Insights
Cost of goods sold
Accounting by Wave
8.8
Adaptive Insights
Order Orchestration
Accounting by Wave
8.0
Adaptive Insights
End-to-end order visibility
Accounting by Wave
4.7
Adaptive Insights
Order exception Resolution
Accounting by Wave
8.0
Adaptive Insights

Accounting Firm BPO Features

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

Budgeting, Planning, and Forecasting

Accounting by Wave
Adaptive Insights
8.7
Long-term financial planning
Accounting by Wave
Adaptive Insights
8.9
Financial budgeting
Accounting by Wave
Adaptive Insights
8.9
Forecasting
Accounting by Wave
Adaptive Insights
9.1
Scenario modeling
Accounting by Wave
Adaptive Insights
8.3
Management reporting
Accounting by Wave
Adaptive Insights
8.2

Consolidation and Close

Accounting by Wave
Adaptive Insights
7.5
Financial data consolidation
Accounting by Wave
Adaptive Insights
7.9
Journal entries and reports
Accounting by Wave
Adaptive Insights
5.5
Multi-currency management
Accounting by Wave
Adaptive Insights
7.7
Intercompany Eliminations
Accounting by Wave
Adaptive Insights
7.5
Minority Ownership
Accounting by Wave
Adaptive Insights
7.0
Local and consolidated reporting
Accounting by Wave
Adaptive Insights
8.3
Detailed Audit Trails
Accounting by Wave
Adaptive Insights
8.6

FInancial Reporting and Compliance

Accounting by Wave
Adaptive Insights
8.3
Financial Statement Reporting
Accounting by Wave
Adaptive Insights
9.0
Management Reporting
Accounting by Wave
Adaptive Insights
8.6
Excel-based Reporting
Accounting by Wave
Adaptive Insights
8.5
Automated board and financial reporting
Accounting by Wave
Adaptive Insights
8.5
XBRL support for regulatory filing
Accounting by Wave
Adaptive Insights
6.9

Analytics

Accounting by Wave
Adaptive Insights
7.6
Personalized dashboards
Accounting by Wave
Adaptive Insights
7.3
Color-coded scorecards
Accounting by Wave
Adaptive Insights
6.8
KPIs
Accounting by Wave
Adaptive Insights
8.0
Cost and profitability analysis
Accounting by Wave
Adaptive Insights
8.1
Key Performance Indicator setting
Accounting by Wave
Adaptive Insights
8.1
Benchmarking with external data
Accounting by Wave
Adaptive Insights
7.3

Integration

Accounting by Wave
Adaptive Insights
8.6
Flat file integration
Accounting by Wave
Adaptive Insights
8.4
Excel data integration
Accounting by Wave
Adaptive Insights
8.8
Direct links to 3rd-party data sources
Accounting by Wave
Adaptive Insights
8.7

Pros

  • Separates tasks by name for billing
  • Reminders of invoices coming due and notices of any overdue
  • Calculates payment amount due depending on the information you previously set up
  • Saves time
  • Makes freelancing financials painless
Torrey Holman profile photo
  • Adaptive Insights has so many good resources and easy filtering capabilities with active searching. When you go to a section of Adaptive Insights, you will see filters at the top of the page. As you change them, the contents of the page change to suit what you're looking for. This makes it easy to find the resources you need!
  • As previously mentioned, the FP&A Glossary is a great feature due to its concise definition of many common terms in FP&A.
  • I have not had much experience with the eBooks section of Adaptive Insights, but there are is a wide variety of topics to explore, such as rolling forecasts, and best practices for controllers.
Samantha Monastra profile photo

Cons

  • The reports need some work. I would like to see some options for how the data is sorted (either by account number or name).
  • The payroll service is a bit limited if you have staff that have varied pay structures or are paid on different schedules.
Eric Matthews profile photo
  • Reporting. I need to save the reports into my personal folder, and then transfer to the new budget folder. I then need to update the time periods for the new budget season.
  • Required fields. Managers many times think they are done, but didn't complete information. Hard to always identify missing information. Better if I could label columns or fields as required and could report on fields not completed.
Bryan Schmidt 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
Adaptive Insights8.5
Based on 32 answers
We just recently renewed our contract and I wouldn't hesitate to renew again. First, Adaptive as a company has a great customer-first attitude and they're great to work with. Their customer service team is fantastic. Second, they are constantly trying to improve the product and make it better, but not losing sight of what we really need. Also, the longer you use the product the more it is filled with priceless data all in one spot with instant access to report on and dig into.
Kevin Bradshaw 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
Adaptive Insights7.7
Based on 75 answers
There is a learning curve to using Adaptive but it is easily overcome with regular use. Once a user is comfortable with the tool it is easy to navigate and faster than moving between and maintaining multiple files as was required before Adaptive was implemented.
Justin Wade profile photo

Reliability and Availability

Accounting by Wave6.7
Based on 4 answers
WAVE is always available when we need it ! Peter
Peter Cullen profile photo
Adaptive Insights9.1
Based on 9 answers
It's never been out of action when we've needed to use it.
Lee Hawthorn profile photo

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
Adaptive Insights9.1
Based on 4 answers
Product performs well when making and saving changes and navigating between pages within the application
Andrew Rosenberg profile photo

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
Adaptive Insights6.8
Based on 11 answers
Support questions are always answered quickly.
Andrew Rosenberg profile photo

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
Adaptive Insights8.2
Based on 6 answers
Training receives the highest rating due to the availability of Webex training from an expert at Adaptive, with several sessions tailored to specific features including personnel, capital, formulas, reporting, etc
Andrew Rosenberg profile photo

Implementation

No score
No answers yet
No answers on this topic
Adaptive Insights8.2
Based on 13 answers
Although having a set of spreadsheet and workbooks helps to define the logic and processes, preparing a requirements document is also an important element in a successful implementation. In addition, dedicating a knowledgeable user as part of the "Scrum" development allows focus and permits the implementation to proceed without time loss and promotes knowledge transfer. Finally, having an onsite developer speeds the process and can reduce the overall cost as well.
Bob Katz, CMA, CFM, CFP® profile photo

Breadth of Deployment

No answers on this topic
It is used throughout the company in different divisions and at our corporate level. When used in a division recently the personnel from different departments directly inputted data and monitored their budget against actual. It is very user friendly and flexible.
Harry Vasels profile photo

Alternatives Considered

Wave accounting does not have as many features as Quickbooks or Sage 50 but it holds it's own with the market it serves. I use Wave primarily for the payroll functionality and i have recommended that clients who use Sage 50 or Quickbooks use Wave for it's payroll. The importing of the bank transactions is also a great feature but the other competitors have caught up to Wave on this feature. Overall it is a great tool, but only for the right type of client.
Randy O'Malley profile photo
I do not have comparisons for this product, other than the budgeting section with Intacct. That system however, is not designed as an FP&A tool, so it is only a bare bones budgeting tool, that would work for smaller organizations, but would not be a manageable solution for the way our group budgets.
Brian Lawrence, CPA 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

Collaboration and Sharing

No score
No answers yet
No answers on this topic
Adaptive Insights7.5
Based on 17 answers
With workflow I am able to track progress on budget and forecast projects in a timely manner. There is also an organiser to track and assign tasks to users. Security is very flexible.
Robin Webber profile photo

Data Integration

No score
No answers yet
No answers on this topic
Adaptive Insights7.6
Based on 17 answers
It is very simple to update data, both monthly actuals and budgeting data, using an Excel template or the connector.
Robin Webber profile photo

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
Adaptive Insights9.1
Based on 7 answers
Adaptive is the leader and is very progressive with the product improvements that they provide.
Gary Sabulski profile photo

Return on Investment

  • Increased staff efficiencies
  • Increased customer service
Randy O'Malley profile photo
  • The main benefit for YBCA so far has been to reduce the amount of time the finance staff (and department directors) spend on the budgeting and forecasting process, and to reduce the number of errors (which were so easy to make in Excel!).
  • Getting our Department Directors more direct access to their financial information has allowed them to use more up-to-date financial information when making decisions. Having the department directors do quarterly forecasts in Adaptive has eliminated "surprises" that may have come at year-end and have shown them more clearly the need for mid-year course corrections.
  • In general, Department Directors feel that they are receiving better customer service from the Finance Team because they don't have to bother us with requests for their financial data any more.
Claire SunSpiral 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

Accounting by Wave More Information

Adaptive Insights

General
Free Trial
Yes
Free/Freemium Version
Premium Consulting/Integration Services
Yes
Entry-level set up fee?
Optional
1.  per seat, per installation
Additional Pricing Details

Adaptive Insights More Information