What users are saying about

Accounting by Wave

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Top Rated
102 Ratings

Avalara

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Top Rated
229 Ratings

Accounting by Wave

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Top Rated
102 Ratings
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Score 9.1 out of 101

Avalara

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Top Rated
229 Ratings
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Score 8 out of 101

Add comparison

Likelihood to Recommend

Accounting by Wave

Wave is well suited for small businesses looking to have an accounting service that won't hinder profitability. Wave is a great service for a small business owner just starting out and is flexible enough to meet demands of larger businesses. Wave even offers a paid payroll service if needed for any business owner. The ease of use with Wave makes it perfect for non-accountants, and for accountants they have tools available that they are used to seeing with other accounting software.
Lukas Sundahl, MBA profile photo

Avalara

I have not found any less appropriate scenarios. Avalara is well suited for our company and has made day to day work a lot less tax pressured.
Becky Wade profile photo

Feature Rating Comparison

Payroll Management

Accounting by Wave
7.9
Avalara
Pay calculation
Accounting by Wave
8.3
Avalara
Benefit plan administration
Accounting by Wave
7.5
Avalara
Direct deposit files
Accounting by Wave
8.0
Avalara
Salary revision and increment management
Accounting by Wave
7.7
Avalara
Reimbursement management
Accounting by Wave
8.0
Avalara

Customization

Accounting by Wave
9.0
Avalara
API for custom integration
Accounting by Wave
8.9
Avalara
Plug-ins
Accounting by Wave
9.1
Avalara

Security

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

Reporting & Analytics

Accounting by Wave
8.4
Avalara
Dashboards
Accounting by Wave
8.4
Avalara
Standard reports
Accounting by Wave
8.3
Avalara
Custom reports
Accounting by Wave
8.6
Avalara

General Ledger and Configurable Accounting

Accounting by Wave
8.2
Avalara
Accounts payable
Accounting by Wave
8.6
Avalara
Accounts receivable
Accounting by Wave
9.2
Avalara
Cash management
Accounting by Wave
8.0
Avalara
Bank reconciliation
Accounting by Wave
7.8
Avalara
Expense management
Accounting by Wave
8.5
Avalara
Time tracking
Accounting by Wave
7.3
Avalara
Fixed asset management
Accounting by Wave
6.3
Avalara
Multi-currency support
Accounting by Wave
8.5
Avalara
Multi-division support
Accounting by Wave
7.5
Avalara
Regulations compliance
Accounting by Wave
7.3
Avalara
Electronic tax filing
Accounting by Wave
6.0
Avalara
Self-service portal
Accounting by Wave
9.0
Avalara
Global Financial Support
Accounting by Wave
9.0
Avalara
Primary and Secondary Ledgers
Accounting by Wave
9.3
Avalara
Intercompany Accounting
Accounting by Wave
8.7
Avalara
Localizations
Accounting by Wave
9.5
Avalara
Journals and Reconciliations
Accounting by Wave
8.1
Avalara
Enterprise Accounting
Accounting by Wave
8.7
Avalara
Configurable Accounting
Accounting by Wave
8.5
Avalara
Centralized Rules Framework
Accounting by Wave
9.0
Avalara
Standardized Processes
Accounting by Wave
8.0
Avalara

Inventory Management

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

Order Management

Accounting by Wave
7.9
Avalara
Pricing
Accounting by Wave
8.3
Avalara
Order entry
Accounting by Wave
8.3
Avalara
Credit card processing
Accounting by Wave
9.1
Avalara
Cost of goods sold
Accounting by Wave
8.9
Avalara
Order Orchestration
Accounting by Wave
8.0
Avalara
End-to-end order visibility
Accounting by Wave
4.8
Avalara
Order exception Resolution
Accounting by Wave
8.0
Avalara

Accounting Firm BPO Features

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

Pros

  • Wave can create invoices, send invoices to clients, and notify me once an invoice has been received. It also tracks when invoices are due and allows me to check paid invoices off my list. It's extremely helpful when my previous methods of tracking invoices was updating an excel sheet. A simple feature included with invoicing is the software keeping track of what number invoice I'm currently on, so it's quick to reference different invoices.
  • Bookkeeping with Wave is fairly intuitive. You can connect any of your desired bank accounts to Wave and import your list of transactions. Wave keeps a database of clients, and though it means creating entries for each client (specifically recurring ones) you can tag clients onto income in the bank account. You can also create specific line items for budgets and tag transactions under whatever budget item you wish. There are many ways to use bookkeeping and budgeting with Wave and I've been very pleased to keep everything categorized under one software rather than using multiple applications.
  • Other features I've not used extensively yet that Wave includes are: estimates, cash flow reports, payroll, tax charts, etc. I'll be using estimates and reporting later this year, but I'm still impressed with how much versatility the software allows for.
Chris Hecox profile photo
  • Provides accurate rooftop sales tax rates.
  • Collects transactional data for building returns.
  • Timely submit returns to individual states.
Kimberly Souders profile photo

Cons

  • Sales Tax Automation. I don't even know how this would be possible but as an Ontario resident I would love to explore a way I could create parameters based on certain expenses and automatically add the HST.
  • AI for categorizations. Wave does an alright job of taking a guess at the expense categories in the data from our payment accounts. A little more would be a fine addition.
  • Speed. Sometimes I find it can be a little sluggish. Not all the time, but some.
John Galbraith profile photo
  • Needs to ensure there are not unnecessary prepayments submitted.
  • Tech Support needs to verify support tickets have been properly resolved prior to closing a ticket.
Kimberly Souders 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
Avalara8.2
Based on 3 answers
Avalara has cut down on some of the processing time need to file the returns
Andrea Campbell 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
Avalara8.2
Based on 104 answers
Avalara is very user-friendly.
Becky 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
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
Avalara4.1
Based on 2 answers
I have not had to call the Avalara support, I can't really say what my experience has been
Andrea Campbell 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
No score
No answers yet
No answers on this topic

Implementation

No score
No answers yet
No answers on this topic
Avalara7.4
Based on 97 answers
It was expensive. It is a complicated system that does take some time to get it implemented correctly from start to finish. As a like to say the juice was worth the squeeze. Spend the time on the up front so that you get a long lasting product that works.
Brandon Samuels profile photo

Alternatives Considered

Wave's biggest selling point is by far it's price, because their base product for free. Most people sign-up because of that advantage. But here are my opinions of Wave Vs these three other programs I've worked in.Wave vs Freshbooks
-Freshbooks wins for invoicing because it gives you multiple options for payment processing integration and it gives you an audit trail on invoices to show when a client has viewed as well as paid. It also has a project time tracking option that you can then invoice time entries.-Wave wins the accounting side because it actually tracks assets and liabilities, not just income and expenses. -As far as user friendly and accounting knowledge necessary to use, Freshbooks is slightly easier for those with no accounting knowledge.-Wave allows bookkeepers to use their own account access through the collaborator feature, Freshbooks has "accountant" access but you can only view reports and export journal entries. If someone wants help editing transactions they have to share their login info.
Wave vs Quickbooks Online
-Quickbooks Online wins for customization and range of features especially custom reports, sub-accounts in the chart of accounts, and traditional bank reconciliation.-Wave is better in ease of use -Wave Payroll offers a Tax service that automates payroll tax filing, Quickbooks Payroll does not do that you still have to hit send
Wave vs Less Accounting
- Overall I found LessAccounting and Wave very comparable products, but LessAccounting is a paid product and Wave's base product is free w/ advertising on the sidebar.-In the range of features, Wave has more integrated options such as Payroll and Payment Processing.-LessAccounting has a strong emphasis on education and tries to educate the user on basic bookkeeping processes within the software-LessAccounting has a slightly better bank reconciliation feature, but only slightly better because you enter the starting and ending statement balances. Neither product are strong on true bank statement reconciliation.
Melissa Whaley profile photo
Avalara is great compared to its peers but still needs to improve its workflow. With improved workflow you may be able to save additional headcount. Now the processes just take too long. Just like its peers though as tax is obviously a complicated area. Overall a great tool that could use some slight improvement.
Brandon Samuels 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

  • Vastly improved customer service
  • Fast turnaround
  • Reduced paper piles in office
Jeff Borschowa profile photo
  • Easily costs less than a dedicated employeee
  • Eliminated costly errors
Roger Crist, Jr. profile photo

Screenshots

Accounting by Wave

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

Avalara

General
Free Trial
Free/Freemium Version
Premium Consulting/Integration Services
Yes
Entry-level set up fee?
No
50.00
Additional Pricing Details

Avalara More Information