What users are saying about

Accounting by Wave

Top Rated
97 Ratings

Clearbooks

1 Ratings

Accounting by Wave

Top Rated
97 Ratings
Score 9 out of 101

Clearbooks

1 Ratings
Score 7 out of 101

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Likelihood to Recommend

Accounting by Wave

I have recommended it to many small businesses because first off, it works. Setup and daily use it is easy. There is no cost outside of any payment transaction processing fees. You can probably find lower fees, but they are not out of line with other services.
No photo available

Clearbooks

Larger companies, multi-currency. Clearbooks is in a competitive environment with Xero, SageOne, FreeAgent, Intuit etc., etc.
Peter Cowley profile photo

Feature Rating Comparison

Payroll Management

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

Customization

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

Security

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

Reporting & Analytics

Accounting by Wave
8.5
Clearbooks
Dashboards
Accounting by Wave
8.4
Clearbooks
Standard reports
Accounting by Wave
8.3
Clearbooks
Custom reports
Accounting by Wave
8.6
Clearbooks

General Ledger and Configurable Accounting

Accounting by Wave
8.2
Clearbooks
5.0
Accounts payable
Accounting by Wave
8.4
Clearbooks
5.0
Accounts receivable
Accounting by Wave
9.1
Clearbooks
5.0
Cash management
Accounting by Wave
8.1
Clearbooks
5.0
Bank reconciliation
Accounting by Wave
7.8
Clearbooks
5.0
Expense management
Accounting by Wave
8.5
Clearbooks
5.0
Time tracking
Accounting by Wave
7.3
Clearbooks
Fixed asset management
Accounting by Wave
5.2
Clearbooks
5.0
Multi-currency support
Accounting by Wave
8.6
Clearbooks
Multi-division support
Accounting by Wave
7.4
Clearbooks
Regulations compliance
Accounting by Wave
7.3
Clearbooks
Electronic tax filing
Accounting by Wave
6.0
Clearbooks
Self-service portal
Accounting by Wave
9.1
Clearbooks
Global Financial Support
Accounting by Wave
9.0
Clearbooks
Primary and Secondary Ledgers
Accounting by Wave
9.3
Clearbooks
Intercompany Accounting
Accounting by Wave
8.7
Clearbooks
Localizations
Accounting by Wave
9.5
Clearbooks
Journals and Reconciliations
Accounting by Wave
8.4
Clearbooks
Enterprise Accounting
Accounting by Wave
8.7
Clearbooks
Configurable Accounting
Accounting by Wave
8.7
Clearbooks
Centralized Rules Framework
Accounting by Wave
9.0
Clearbooks
Standardized Processes
Accounting by Wave
7.9
Clearbooks

Inventory Management

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

Order Management

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

Accounting Firm BPO Features

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

Pros

  • The dashboard provides instant views of month-by month income & expenses for the past 12-24 months, a breakdown of current year expense by category, and net income for the past year and year-to-date.
  • Invoicing has easy templated set up has lots of per invoice options such as single/recurring payment options, due dates.
  • Year end reports are easy to generate in either pdf or csv format.
No photo available
  • SaaS, so accessible by anyone, anywhere in the world via a browser
  • Clear and straight forward navigation
  • Good choice of management reports
Peter Cowley profile photo

Cons

  • One area of improvement for Wave would be combining the various mobile applications into one app.
  • Another room for improvement would be on the dashboard level. It would be great if they could use more bar graphs and get away from pie charts for things like expenses.
  • Some of the other areas from improvement have been addressed by recent updates so I am excited to see what else Wave brings out.
Lukas Sundahl, MBA profile photo
  • Like any SaaS product, Clearbooks is continuously evolving and being improved
  • Some of the reports still need some work
Peter Cowley 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

Across the board Wave takes the cake on price at $0/mo aside from payroll fees and credit card processing. That aside I'd say most accounting systems are fairly similar, however what I like about Wave is just how simple the interface is and the outstanding customer support from both the community and the company.
Matthew Gehrman profile photo
Clearbooks was chosen 5 years ago as our accountant recommended it. There is an element of inertia in moving accounts packages.
Peter Cowley 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

  • Helps keep boring cash accounting more orderly and professional. I could use spreadsheets, but why?
  • Saves money over other options, with a nice UI.
Geri Lynn Peak profile photo
  • I am not sure that ROI is an appropriate measure for an accounts package. The cost is around £250/year, which is a tiny fraction of the cost of a bookkeeper/finance controller/finance director/CFO.
Peter Cowley 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

Clearbooks

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