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Top Rated
105 Ratings
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Top Rated
214 Ratings

Accounting by Wave

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Top Rated
105 Ratings
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Score 9.1 out of 101

Adaptive Insights, a Workday company

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Top Rated
214 Ratings
<a href='https://www.trustradius.com/static/about-trustradius-scoring' target='_blank' rel='nofollow'>trScore algorithm: Learn more.</a>
Score 8.6 out of 101

Likelihood to Recommend

Accounting by Wave

Wave is free to use, and they have some premium features you can pay for. For someone just starting out as a small business, freelancer or independent contractor, this is a Godsend. You can look professional, have something easy to manage, and yet also have excellent records come the end of the year. You won't spend a bunch of time having to learn the program, it's very intuitive and you get a host of great features that will make getting paid easy.
J.P. VanderLinden profile photo

Adaptive Insights, a Workday company

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, a Workday company
Pay calculation
Accounting by Wave
8.2
Adaptive Insights, a Workday company
Benefit plan administration
Accounting by Wave
7.5
Adaptive Insights, a Workday company
Direct deposit files
Accounting by Wave
8.0
Adaptive Insights, a Workday company
Salary revision and increment management
Accounting by Wave
7.7
Adaptive Insights, a Workday company
Reimbursement management
Accounting by Wave
8.0
Adaptive Insights, a Workday company

Customization

Accounting by Wave
8.8
Adaptive Insights, a Workday company
API for custom integration
Accounting by Wave
8.7
Adaptive Insights, a Workday company
Plug-ins
Accounting by Wave
8.8
Adaptive Insights, a Workday company

Security

Accounting by Wave
8.5
Adaptive Insights, a Workday company
Single sign-on capability
Accounting by Wave
9.1
Adaptive Insights, a Workday company
Role-based user permissions
Accounting by Wave
7.9
Adaptive Insights, a Workday company

Reporting & Analytics

Accounting by Wave
8.5
Adaptive Insights, a Workday company
Dashboards
Accounting by Wave
8.5
Adaptive Insights, a Workday company
Standard reports
Accounting by Wave
8.3
Adaptive Insights, a Workday company
Custom reports
Accounting by Wave
8.6
Adaptive Insights, a Workday company

General Ledger and Configurable Accounting

Accounting by Wave
8.3
Adaptive Insights, a Workday company
Accounts payable
Accounting by Wave
8.6
Adaptive Insights, a Workday company
Accounts receivable
Accounting by Wave
9.2
Adaptive Insights, a Workday company
Cash management
Accounting by Wave
8.1
Adaptive Insights, a Workday company
Bank reconciliation
Accounting by Wave
7.9
Adaptive Insights, a Workday company
Expense management
Accounting by Wave
8.6
Adaptive Insights, a Workday company
Time tracking
Accounting by Wave
7.5
Adaptive Insights, a Workday company
Fixed asset management
Accounting by Wave
6.8
Adaptive Insights, a Workday company
Multi-currency support
Accounting by Wave
8.3
Adaptive Insights, a Workday company
Multi-division support
Accounting by Wave
7.4
Adaptive Insights, a Workday company
Regulations compliance
Accounting by Wave
7.3
Adaptive Insights, a Workday company
Electronic tax filing
Accounting by Wave
6.0
Adaptive Insights, a Workday company
Self-service portal
Accounting by Wave
8.9
Adaptive Insights, a Workday company
Global Financial Support
Accounting by Wave
9.0
Adaptive Insights, a Workday company
Primary and Secondary Ledgers
Accounting by Wave
9.3
Adaptive Insights, a Workday company
Intercompany Accounting
Accounting by Wave
8.6
Adaptive Insights, a Workday company
Localizations
Accounting by Wave
9.5
Adaptive Insights, a Workday company
Journals and Reconciliations
Accounting by Wave
8.2
Adaptive Insights, a Workday company
Enterprise Accounting
Accounting by Wave
8.7
Adaptive Insights, a Workday company
Configurable Accounting
Accounting by Wave
8.7
Adaptive Insights, a Workday company
Centralized Rules Framework
Accounting by Wave
9.0
Adaptive Insights, a Workday company
Standardized Processes
Accounting by Wave
8.1
Adaptive Insights, a Workday company

Inventory Management

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

Order Management

Accounting by Wave
8.0
Adaptive Insights, a Workday company
Pricing
Accounting by Wave
8.3
Adaptive Insights, a Workday company
Order entry
Accounting by Wave
8.4
Adaptive Insights, a Workday company
Credit card processing
Accounting by Wave
9.1
Adaptive Insights, a Workday company
Cost of goods sold
Accounting by Wave
8.8
Adaptive Insights, a Workday company
Order Orchestration
Accounting by Wave
8.0
Adaptive Insights, a Workday company
End-to-end order visibility
Accounting by Wave
5.5
Adaptive Insights, a Workday company
Order exception Resolution
Accounting by Wave
8.0
Adaptive Insights, a Workday company

Accounting Firm BPO Features

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

BI Standard Reporting

Accounting by Wave
Adaptive Insights, a Workday company
9.3
Pixel Perfect reports
Accounting by Wave
Adaptive Insights, a Workday company
9.0
Customizable dashboards
Accounting by Wave
Adaptive Insights, a Workday company
10.0
Report Formatting Templates
Accounting by Wave
Adaptive Insights, a Workday company
9.0

Ad-hoc Reporting

Accounting by Wave
Adaptive Insights, a Workday company
8.0
Drill-down analysis
Accounting by Wave
Adaptive Insights, a Workday company
9.0
Formatting capabilities
Accounting by Wave
Adaptive Insights, a Workday company
7.0
Integration with R or other statistical packages
Accounting by Wave
Adaptive Insights, a Workday company
8.0
Report sharing and collaboration
Accounting by Wave
Adaptive Insights, a Workday company
8.0

Report Output and Scheduling

Accounting by Wave
Adaptive Insights, a Workday company
8.0
Publish to PDF
Accounting by Wave
Adaptive Insights, a Workday company
8.0
Report Versioning
Accounting by Wave
Adaptive Insights, a Workday company
8.0
Report Delivery Scheduling
Accounting by Wave
Adaptive Insights, a Workday company
8.0

Data Discovery and Visualization

Accounting by Wave
Adaptive Insights, a Workday company
7.7
Pre-built visualization formats (heatmaps, scatter plots etc.)
Accounting by Wave
Adaptive Insights, a Workday company
7.0
Location Analytics / Geographic Visualization
Accounting by Wave
Adaptive Insights, a Workday company
8.0
Predictive Analytics
Accounting by Wave
Adaptive Insights, a Workday company
8.0

Access Control and Security

Accounting by Wave
Adaptive Insights, a Workday company
9.0
Multi-User Support (named login)
Accounting by Wave
Adaptive Insights, a Workday company
9.0
Role-Based Security Model
Accounting by Wave
Adaptive Insights, a Workday company
9.0
Multiple Access Permission Levels (Create, Read, Delete)
Accounting by Wave
Adaptive Insights, a Workday company
9.0

Mobile Capabilities

Accounting by Wave
Adaptive Insights, a Workday company
8.5
Responsive Design for Web Access
Accounting by Wave
Adaptive Insights, a Workday company
8.0
Dedicated iOS Application
Accounting by Wave
Adaptive Insights, a Workday company
8.0
Dedicated Android Application
Accounting by Wave
Adaptive Insights, a Workday company
8.0
Dashboard / Report / Visualization Interactivity on Mobile
Accounting by Wave
Adaptive Insights, a Workday company
10.0

Budgeting, Planning, and Forecasting

Accounting by Wave
Adaptive Insights, a Workday company
8.5
Long-term financial planning
Accounting by Wave
Adaptive Insights, a Workday company
8.8
Financial budgeting
Accounting by Wave
Adaptive Insights, a Workday company
8.7
Forecasting
Accounting by Wave
Adaptive Insights, a Workday company
9.0
Scenario modeling
Accounting by Wave
Adaptive Insights, a Workday company
8.0
Management reporting
Accounting by Wave
Adaptive Insights, a Workday company
8.0

Consolidation and Close

Accounting by Wave
Adaptive Insights, a Workday company
7.5
Financial data consolidation
Accounting by Wave
Adaptive Insights, a Workday company
7.9
Journal entries and reports
Accounting by Wave
Adaptive Insights, a Workday company
5.7
Multi-currency management
Accounting by Wave
Adaptive Insights, a Workday company
7.4
Intercompany Eliminations
Accounting by Wave
Adaptive Insights, a Workday company
7.6
Minority Ownership
Accounting by Wave
Adaptive Insights, a Workday company
6.9
Local and consolidated reporting
Accounting by Wave
Adaptive Insights, a Workday company
8.2
Detailed Audit Trails
Accounting by Wave
Adaptive Insights, a Workday company
8.5

FInancial Reporting and Compliance

Accounting by Wave
Adaptive Insights, a Workday company
8.1
Financial Statement Reporting
Accounting by Wave
Adaptive Insights, a Workday company
8.9
Management Reporting
Accounting by Wave
Adaptive Insights, a Workday company
8.4
Excel-based Reporting
Accounting by Wave
Adaptive Insights, a Workday company
8.2
Automated board and financial reporting
Accounting by Wave
Adaptive Insights, a Workday company
8.3
XBRL support for regulatory filing
Accounting by Wave
Adaptive Insights, a Workday company
6.8

Analytics

Accounting by Wave
Adaptive Insights, a Workday company
7.5
Personalized dashboards
Accounting by Wave
Adaptive Insights, a Workday company
7.3
Color-coded scorecards
Accounting by Wave
Adaptive Insights, a Workday company
6.8
KPIs
Accounting by Wave
Adaptive Insights, a Workday company
7.8
Cost and profitability analysis
Accounting by Wave
Adaptive Insights, a Workday company
7.9
Key Performance Indicator setting
Accounting by Wave
Adaptive Insights, a Workday company
7.8
Benchmarking with external data
Accounting by Wave
Adaptive Insights, a Workday company
7.3

Integration

Accounting by Wave
Adaptive Insights, a Workday company
8.4
Flat file integration
Accounting by Wave
Adaptive Insights, a Workday company
8.1
Excel data integration
Accounting by Wave
Adaptive Insights, a Workday company
8.6
Direct links to 3rd-party data sources
Accounting by Wave
Adaptive Insights, a Workday company
8.6

Pros

Accounting by Wave

  • Quoting and Invoicing - This feature is huge to be able to manage customers and automate the process of sending invoices as well as reminding outstanding balance holders about their obligations.
  • Payment Processing - Once you get the invoicing down, the ability to process credit card and ACH payments in a single package is great. The fees are competitive and the turn-around time to money in the bank is quick.
  • Bank Integrations - I mean, this ought to be a standard thing these days, but Wave makes it super simple. There is no need to use esoteric APIs or ugly interfaces - everything is in the same Wave wrapper and the functionality is truly seamless.
No photo available

Adaptive Insights, a Workday company

  • Infinite ability to group accounts and departments for reporting. The only limitation is the number of ways that you think of in terms of consolidating the information.
  • Being able to build scalable, complex, distributed, budget models. With the data we can bring into the system and the formulas we can use we have all the functionality of the spreadsheet, but with the flexibility to allow leaders across the organization to participate and update their section.
  • The platform allows multiple forecast/budget versions which allows for version control and sensitivity analysis. I can lock versions from changes while quickly creating a new version to see the impact of a +or- scenario to the company’s profitability.
  • With the OfficeConnect tool we can leverage Excel to provide repeatable reports for the board and other business leaders that are repeatable from month to month. While the platform provides more flexibility than an accounting package it still has limitations. Using OfficeConnect I can leverage the power of the Microsoft suite of Excel/Word/PowerPoint directly.
Brian Kyslinger profile photo

Cons

Accounting by Wave

  • I've not run into anything as of yet I'd like to see improved or added
Torrey Holman profile photo

Adaptive Insights, a Workday company

  • The layout of the various reporting options could be displayed in a more user-friendlier way. It's a bit difficult to locate where to find the reports.
  • I'm finding that the drill down feature from the monthly financials section is not as convenient as it should be.
  • The exporting to Excel or PDF format is a bit off - it's time consuming to manipulate the excel to a regular paper size.
Jessalyn Ka profile photo

Likelihood to Renew

Accounting by Wave

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

Adaptive Insights, a Workday company

Adaptive Insights, a Workday company 8.6
Based on 32 answers
At this point we have set up our reporting to integrate with Adaptive. We have spent some non-recurring money to set up and populate the system. Switching at this point would only be an option if we were unhappy with the decision. This might seem like I am side-stepping the issue but I think an important point is being made. Whatever system you decide to go with, changing later is costly and unproductive. We chose Adaptive and have absolutely no regrets. We are currently at a crossroads here at Teachscape and are looking at several different potential options. If we were still relying on a 20 to 40 sheet Excel workbook with thousands of links and formulas, I don't think I would be able to sleep at night. Adaptive gives me a greater level of comfort.
Michael Bright profile photo

Usability

Accounting by Wave

Accounting by Wave 5.3
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 Insights, a Workday company

Adaptive Insights, a Workday company 7.5
Based on 76 answers
Adaptive is very easy to use, but it requires some training to get comfortable with it.
Amy Kee, CPA profile photo

Reliability and Availability

Accounting by Wave

Accounting by Wave 6.7
Based on 4 answers
WAVE is always available when we need it ! Peter
Peter Cullen profile photo

Adaptive Insights, a Workday company

Adaptive Insights, a Workday company 9.1
Based on 9 answers
Cloud-based allows for access anywhere. Very little downtime.
Andrew Rosenberg profile photo

Performance

Accounting by Wave

Accounting by Wave 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 profile photo

Adaptive Insights, a Workday company

Adaptive Insights, a Workday company 9.1
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 Wave

Accounting by Wave 9.0
Based on 1 answer
If they had live chat service then I'd rate this a 10.
Matthew Gehrman profile photo

Adaptive Insights, a Workday company

Adaptive Insights, a Workday company 6.8
Based on 11 answers
Support questions are always answered quickly.
Andrew Rosenberg profile photo

Online Training

Accounting by Wave

Accounting by Wave 4.7
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 Insights, a Workday company

Adaptive Insights, a Workday company 8.2
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

Accounting by Wave

No score
No answers yet
No answers on this topic

Adaptive Insights, a Workday company

Adaptive Insights, a Workday company 8.2
Based on 13 answers


Implementation was very easy and fast. The ability to
customize Levels and Dimensions to match our Organization’s structure and
accounting practices is great. Our organization is continually changing and
adaptive has the ability to be changed without issue.

Rose Sipin profile photo

Alternatives Considered

Accounting by Wave

Wave is ideal for the small business owner. It is free (can't beat that) and easy to use. I use a variety of solutions, but pair Wave with clients (such as realtors) to keep them away from shoeboxes! I don't do anything fancy with the program, but it really shines at separating business and personal.
Jeff Borschowa profile photo

Adaptive Insights, a Workday company

We previously only used Excel for budgeting and reporting. We now use Adaptive for all budgeting and use an add-on product called Office Connect to build reports that automate our data each month. We find the Office Connect reporting a little more user-friendly than the in-house reporting feature.
Amy Kee, CPA profile photo

Scalability

Accounting by Wave

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

Adaptive Insights, a Workday company

Adaptive Insights, a Workday company 9.1
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

Accounting by Wave

  • Faster billing as you have the ability to invoice directly from a smartphone (iPhone or Android)
Michele Craig CPA,CMA profile photo

Adaptive Insights, a Workday company

  • Cycle time for processing financial statements, budgets, and forecasts are greatly reduced.
  • Visibility of company metrics and drivers has been increased across the company.
  • The ease and ability to quickly create multiple forecasts using different scenarios is now available.
Jack Kersjes profile photo

Screenshots

Pricing Details

Accounting by Wave

General

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

Adaptive Insights, a Workday company

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

Add comparison