What users are saying about

Accounting by Wave

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Top Rated
102 Ratings

Adaptive Insights

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Top Rated
205 Ratings

Accounting by Wave

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Top Rated
102 Ratings
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Score 9.1 out of 101

Adaptive Insights

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Top Rated
205 Ratings
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Score 8.7 out of 101

Add comparison

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

It is very helpful for budgeting and reporting. I love how easy it is to automate reports and presentations. It can be more difficult to plan specific activities. It feels more high-level than activity-level. It shows totals rather than individual transactions (either past or future transactions).
Mark McConkie profile photo

Feature Rating Comparison

Payroll Management

Accounting by Wave
7.9
Adaptive Insights
Pay calculation
Accounting by Wave
8.3
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
9.0
Adaptive Insights
API for custom integration
Accounting by Wave
8.9
Adaptive Insights
Plug-ins
Accounting by Wave
9.1
Adaptive Insights

Security

Accounting by Wave
8.6
Adaptive Insights
Single sign-on capability
Accounting by Wave
9.1
Adaptive Insights
Role-based user permissions
Accounting by Wave
8.1
Adaptive Insights

Reporting & Analytics

Accounting by Wave
8.4
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
8.6
Adaptive Insights
Accounts receivable
Accounting by Wave
9.2
Adaptive Insights
Cash management
Accounting by Wave
8.0
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
6.3
Adaptive Insights
Multi-currency support
Accounting by Wave
8.5
Adaptive Insights
Multi-division support
Accounting by Wave
7.5
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
9.0
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
8.1
Adaptive Insights
Enterprise Accounting
Accounting by Wave
8.7
Adaptive Insights
Configurable Accounting
Accounting by Wave
8.5
Adaptive Insights
Centralized Rules Framework
Accounting by Wave
9.0
Adaptive Insights
Standardized Processes
Accounting by Wave
8.0
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
7.9
Adaptive Insights
Pricing
Accounting by Wave
8.3
Adaptive Insights
Order entry
Accounting by Wave
8.3
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
4.8
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

BI Standard Reporting

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

Ad-hoc Reporting

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

Report Output and Scheduling

Accounting by Wave
Adaptive Insights
8.0
Publish to PDF
Accounting by Wave
Adaptive Insights
8.0
Report Versioning
Accounting by Wave
Adaptive Insights
8.0
Report Delivery Scheduling
Accounting by Wave
Adaptive Insights
8.0

Data Discovery and Visualization

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

Access Control and Security

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

Mobile Capabilities

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

Budgeting, Planning, and Forecasting

Accounting by Wave
Adaptive Insights
8.6
Long-term financial planning
Accounting by Wave
Adaptive Insights
8.9
Financial budgeting
Accounting by Wave
Adaptive Insights
8.8
Forecasting
Accounting by Wave
Adaptive Insights
9.1
Scenario modeling
Accounting by Wave
Adaptive Insights
8.2
Management reporting
Accounting by Wave
Adaptive Insights
8.1

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
5.6
Multi-currency management
Accounting by Wave
Adaptive Insights
7.6
Intercompany Eliminations
Accounting by Wave
Adaptive Insights
7.5
Minority Ownership
Accounting by Wave
Adaptive Insights
7.1
Local and consolidated reporting
Accounting by Wave
Adaptive Insights
8.3
Detailed Audit Trails
Accounting by Wave
Adaptive Insights
8.5

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
8.4
Automated board and financial reporting
Accounting by Wave
Adaptive Insights
8.5
XBRL support for regulatory filing
Accounting by Wave
Adaptive Insights
7.0

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
8.0
Key Performance Indicator setting
Accounting by Wave
Adaptive Insights
8.0
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
8.3
Excel data integration
Accounting by Wave
Adaptive Insights
8.7
Direct links to 3rd-party data sources
Accounting by Wave
Adaptive Insights
8.7

Pros

  • Invoices are so easy to execute. Whether they are one-off or recurring, fixed or variable, single item or multiple line entries, they come out looking professional, polished and they get sent without any fuss. Put your client's info on them, add your logo, describe the services, add notes, set due dates, etc. all without cracking an abacus.
  • It's a little thing but I love how the estimates feature integrates with Invoices. You start by making an estimate for a client, with a defined expiry date. Once they accept, you can convert that estimate immediately into an Invoice and set it up to send.
  • Built-in payment processing is great. I don't have to worry about Paypal or Stripe or anything, Wave just handles my client's credit cards so I don't have to do a thing. They even have recurring billing for my retainer clients!
J.P. VanderLinden profile photo
  • 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

  • My biggest request is that they add a way to link invoice payments with the bank deposits . When a payment is made through Wave, they show the income and it is marked with the invoice number, but when they transfer the money into the bank, the credit is not tied to the invoice(s). You have to figure out by hand and delete the transaction from the bank to prevent getting double credit on it
  • It would be good to have a field for CC email on each customer. Currently you have to add any CC when sending.
  • On the Transactions view, a few more search options would be helpful.
No photo available
  • 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 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 Insights8.6
Based on 32 answers
Our company is upgrading our SAP system this year and exploring one of the SAP reporting modules, but I don't think it will affect our renewal of Adaptive, especially since I know they are going to roll out an Office integration tool later this year.
Chris Snelling, CFA 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
The reports are exactly what we need however accessing it from the various sections is not as simple as it should be
Jessalyn Ka 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
We can access Adaptive anytime 24/7 from any computer or laptop pc or Mac. They are committed to keep this product up to date and relevant
Harry Vasels 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
In our experience the Adaptive Suite is quick and easy to deploy. Most implementations are facilitated in just a few weeks but may range depending on organisation complexity from say 2 to 12 weeks with only the very largest and most complex taking a little longer. When key stakeholders are properly engaged and the opportunities for skills transfer are exercised, we find that implementations proceed well and are delivered on time and to project budget
Greg Clarke 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

Accounting by Wave has a similar target market to FreshBooks, however Accounting by Wave is a full GL solution whereas FreshBooks provides cash flow and receivables tracking. I would definitely recommend Accounting by Wave over FreshBooks for that reason. Also FreshBooks isn't free to use if you have more than one customer.Accounting by Wave is similar to QuickBooks Online however QBO does offer a full bank reconciliation module and the ability to track different business processes (if you use the higher version). They are continually adding functionality and appear to be aiming for a full service solution to replace their very popular desktop version. Accounting by Wave, on the other hand, offers a great solution for owners who mix business and personal funds including personal expense tracking if desired.
Michele Craig CPA,CMA profile photo
We did not go through a full-blown software selection process, nor have I used other products in the past. Previous to Adaptive, we used Management Reporter (formerly FRx, now part of Microsoft Dynamics GP) for our financial statements, and Excel for our budgeting. Adaptive is far superior to either of those.We pursued Adaptive mainly through word of mouth. When discussing the availability of products with other accounting professionals, it was clear Adaptive was becoming the industry leader for our company size. We had a demo of the product presented by them. Since we liked it so much, we decided to go with them even though we had not reviewed other products.
Jack Kersjes profile photo

Rating for Public Practice CPAs

Accounting by Wave8.0
Based on 8 answers
Wave is very easy for the small business owner to use but it has enough features to keep accountants happy.
Elaine Orr Morgan 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
This is one of the best features as personnel in different areas at different sites can work together on the budget, forecast or "what-if" models.
Harry Vasels profile photo

Data Integration

No score
No answers yet
No answers on this topic
Adaptive Insights7.6
Based on 17 answers
We have used Adaptive for years and it works well as we adapt to changing business scenarios. We can make changes and see potential impacts to our business before they occur.
Harry Vasels 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

  • It helps me keep past due invoices organized, and easily send reminders to clients who haven't paid yet.
Lindsay Frey profile photo
  • Streamlined financial reporting is the obvious one but also we are happy with the products ability to keep up with our use. We are growing rapidly and adding business units and we are able to easily add to our org structure and not be slowed down by arduous remapping of Excel files, and the maintenance that goes along with it.
  • KPIs and dashboarding. This has always been high priority at my company but it was always Excel based. Now we use Adaptive and the metrics are more readily available and the ability to display them in dashboards will continue to evolve.
  • Long term financial modeling and improved modelling of HC and attrition. We are now able to sit down with functional leaders and determine the impact of attrition during a short meeting, something that used to take for longer.
  • Multi Version instance that allows for what-if-scenario's. We are also able to create groups, which in turn are given access to specific versions, so we can plan for attrition or we can plan for acquisitions and not be concerned with the security and also not be concerned with modifying or changing a forecast by accident.
W. Stephens 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