What users are saying about

Accounting by Wave

Top Rated
97 Ratings

Accounting by Wave

Top Rated
97 Ratings
Score 9 out of 101

Budget Maestro

3 Ratings
Score 5.9 out of 101

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Likelihood to Recommend

Accounting by Wave

Wave is great at small business accounting where fairly simple quotes and invoices can be set up and payments can be received online or as mailed checks. Other or more complicated situations are not well suited to the platform. Any business that takes in Bitcoin or other alternative currencies will struggle to link the account types together
No photo available

Budget Maestro

If you're looking to get organized and stay organized in terms of cash flow numbers, budgets, inventory etc., Budget Maestro is a very good software to use. It is also a great tool for creating graphs and charts. We found that Budget Maestro produces a more "polished" report vs Microsoft Excel and other similar software.
Travis Watts profile photo

Feature Rating Comparison

Payroll Management

Accounting by Wave
7.9
Budget Maestro
9.0
Pay calculation
Accounting by Wave
8.4
Budget Maestro
9.0
Benefit plan administration
Accounting by Wave
7.5
Budget Maestro
9.0
Direct deposit files
Accounting by Wave
8.0
Budget Maestro
9.0
Salary revision and increment management
Accounting by Wave
7.7
Budget Maestro
9.0
Reimbursement management
Accounting by Wave
8.0
Budget Maestro
9.0

Customization

Accounting by Wave
9.1
Budget Maestro
5.5
API for custom integration
Accounting by Wave
8.9
Budget Maestro
6.0
Plug-ins
Accounting by Wave
9.2
Budget Maestro
5.0

Security

Accounting by Wave
8.6
Budget Maestro
8.0
Single sign-on capability
Accounting by Wave
9.0
Budget Maestro
8.0
Role-based user permissions
Accounting by Wave
8.2
Budget Maestro
8.0

Reporting & Analytics

Accounting by Wave
8.5
Budget Maestro
8.7
Dashboards
Accounting by Wave
8.4
Budget Maestro
8.0
Standard reports
Accounting by Wave
8.3
Budget Maestro
9.0
Custom reports
Accounting by Wave
8.6
Budget Maestro
9.0

General Ledger and Configurable Accounting

Accounting by Wave
8.2
Budget Maestro
8.3
Accounts payable
Accounting by Wave
8.4
Budget Maestro
8.0
Accounts receivable
Accounting by Wave
9.1
Budget Maestro
8.0
Cash management
Accounting by Wave
8.1
Budget Maestro
9.0
Bank reconciliation
Accounting by Wave
7.8
Budget Maestro
9.0
Expense management
Accounting by Wave
8.5
Budget Maestro
10.0
Time tracking
Accounting by Wave
7.3
Budget Maestro
9.0
Fixed asset management
Accounting by Wave
5.2
Budget Maestro
9.0
Multi-currency support
Accounting by Wave
8.6
Budget Maestro
Multi-division support
Accounting by Wave
7.4
Budget Maestro
Regulations compliance
Accounting by Wave
7.3
Budget Maestro
Electronic tax filing
Accounting by Wave
6.0
Budget Maestro
Self-service portal
Accounting by Wave
9.1
Budget Maestro
8.0
Global Financial Support
Accounting by Wave
9.0
Budget Maestro
8.0
Primary and Secondary Ledgers
Accounting by Wave
9.3
Budget Maestro
Intercompany Accounting
Accounting by Wave
8.7
Budget Maestro
9.0
Localizations
Accounting by Wave
9.5
Budget Maestro
Journals and Reconciliations
Accounting by Wave
8.4
Budget Maestro
7.0
Enterprise Accounting
Accounting by Wave
8.7
Budget Maestro
7.0
Configurable Accounting
Accounting by Wave
8.7
Budget Maestro
8.0
Centralized Rules Framework
Accounting by Wave
9.0
Budget Maestro
7.0
Standardized Processes
Accounting by Wave
7.9
Budget Maestro
9.0

Inventory Management

Accounting by Wave
8.9
Budget Maestro
8.3
Inventory tracking
Accounting by Wave
9.5
Budget Maestro
9.0
Automatic reordering
Accounting by Wave
8.0
Budget Maestro
Location management
Accounting by Wave
9.0
Budget Maestro
8.0
Manufacturing module
Accounting by Wave
9.0
Budget Maestro
8.0

Order Management

Accounting by Wave
7.8
Budget Maestro
7.6
Pricing
Accounting by Wave
8.1
Budget Maestro
7.0
Order entry
Accounting by Wave
8.0
Budget Maestro
7.0
Credit card processing
Accounting by Wave
9.1
Budget Maestro
Cost of goods sold
Accounting by Wave
8.8
Budget Maestro
8.0
Order Orchestration
Accounting by Wave
8.0
Budget Maestro
8.0
End-to-end order visibility
Accounting by Wave
4.7
Budget Maestro
8.0
Order exception Resolution
Accounting by Wave
8.0
Budget Maestro

Accounting Firm BPO Features

Accounting by Wave
8.0
Budget Maestro
7.7
Branded client dashboards
Accounting by Wave
8.0
Budget Maestro
8.0
Client data roll-up capabilities
Accounting by Wave
8.0
Budget Maestro
Client data consolidation for benchmarking
Accounting by Wave
7.5
Budget Maestro
Configurable alerts
Accounting by Wave
8.0
Budget Maestro
7.0
Billing bypass
Accounting by Wave
8.0
Budget Maestro
7.0
Client template cloning
Accounting by Wave
8.0
Budget Maestro
8.0
Single sign-on
Accounting by Wave
9.0
Budget Maestro
8.0
Configurable client onboarding questions
Accounting by Wave
8.0
Budget Maestro
8.0
Cross-client workflow management
Accounting by Wave
8.0
Budget Maestro
8.0
Industry-specific versioning
Accounting by Wave
8.0
Budget Maestro
Legacy system data migration
Accounting by Wave
8.0
Budget Maestro

Pros

  • 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
  • Reporting - Very easy to follow and produce high-quality reports for every aspect of budgeting, cash flow, and revenue data
  • Importing - We import a lot of data on a monthly basis. Budget Maestro is excellent at capturing Excel and CSV files
  • Asset Management - Budget Maestro is a great platform for storing asset related data and keeping inventory
Travis Watts profile photo

Cons

  • connection to bank sometimes lags - you can refresh the connection but it takes a minute or two to update
  • sometimes invoices are categorized as sales versus consulting income - you really have to look and change it to the appropriate income account. once an invoice is recorded as paid, you can change the income account
  • Wave has a tendency of not accepting a saved password, forcing users to reset a password that is knowingly valid. Using Single Sign On eliminates this but it's still annoying.
Kristy Nittskoff profile photo
  • Wizards - The widgets and add-on features are limited and have a long way to go (at least on the current version)
  • Unnecessary features - Budget Maestro has added features for the sake of... adding features. A lot of "features" you would likely not use
Travis Watts 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
No score
No answers yet
No answers on this topic

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 is better in being my one place to go for collecting payments. PayPal is nice if you're on the road collecting payments through their app and using PayPal Here, but if you would like to keep invoicing in the same place as your bookkeeping, I think Wave is a better-integrated solution.
Carl Grivakis profile photo
We initially did heavy research trying to find the best budgeting software around. We used several trials and decided that Budget Maestro was the best fit for our firm. The #1 reason we decided to go with this software was the user-friendliness of the platform. We were able to train 5 staff members over the course of 2 days
Travis Watts profile photo

Rating for Public Practice CPAs

Accounting by Wave8.0
Based on 8 answers
we have worked with all Cloud software ( XERO, QBO, FreshBooks, Wave, and others ) so we have a strong basis point for comparison
Peter Cullen 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

  • Adding Wave to our roster of supported products has introduced us to a new group of business owners that are motivated to manage and grow their businesses.
  • Wave has improved employee engagement as my staff feel more involved in helping our customers achieve their goals. Their work is more meaningful now and less data entry driven.
Jennifer Bauldic profile photo
  • Positive - We saved lots of man hours finding a simple, easy-to-use software that everyone could learn in a matter of days vs months/years
  • Positive - We use the chart/graph export feature frequently for presentations and client meetings. This has saved us lots of capital over time
  • Negative - We use (two) third-party softwares that we would love to integrate with Budget Maestro; however they do not currently integrate
Travis Watts 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

Budget Maestro

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