What users are saying about
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Top Rated
105 Ratings
1 Ratings

Accounting by Wave

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Top Rated
105 Ratings
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Score 9.1 out of 101
1 Ratings
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Score 7 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

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
8.2
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
8.8
Clearbooks
API for custom integration
Accounting by Wave
8.7
Clearbooks
Plug-ins
Accounting by Wave
8.8
Clearbooks

Security

Accounting by Wave
8.5
Clearbooks
Single sign-on capability
Accounting by Wave
9.1
Clearbooks
Role-based user permissions
Accounting by Wave
7.9
Clearbooks

Reporting & Analytics

Accounting by Wave
8.5
Clearbooks
Dashboards
Accounting by Wave
8.5
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
8.3
Clearbooks
5.0
Accounts payable
Accounting by Wave
8.6
Clearbooks
5.0
Accounts receivable
Accounting by Wave
9.2
Clearbooks
5.0
Cash management
Accounting by Wave
8.1
Clearbooks
5.0
Bank reconciliation
Accounting by Wave
7.9
Clearbooks
5.0
Expense management
Accounting by Wave
8.6
Clearbooks
5.0
Time tracking
Accounting by Wave
7.5
Clearbooks
Fixed asset management
Accounting by Wave
6.9
Clearbooks
5.0
Multi-currency support
Accounting by Wave
8.3
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
8.9
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
8.6
Clearbooks
Localizations
Accounting by Wave
9.5
Clearbooks
Journals and Reconciliations
Accounting by Wave
8.2
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
8.1
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
8.0
Clearbooks
Pricing
Accounting by Wave
8.3
Clearbooks
Order entry
Accounting by Wave
8.4
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
5.5
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

Accounting by Wave

  • 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

Clearbooks

  • 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

Accounting by Wave

  • The only disappointment I've had with using Wave so far is how delayed transactions can be with the bank connection. This is likely because of how slow the turnaround can be for check deposits and other transactions to register in the bank (24 hours or more) but it means I need to reference my bank account's website instead of Wave if I have checks arriving on payroll day.
Chris Hecox profile photo

Clearbooks

  • 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 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

Clearbooks

No score
No answers yet
No answers on this topic

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

Clearbooks

No score
No answers yet
No answers on this topic

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

Clearbooks

No score
No answers yet
No answers on this topic

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

Clearbooks

No score
No answers yet
No answers on this topic

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

Clearbooks

No score
No answers yet
No answers on this topic

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

Clearbooks

No score
No answers yet
No answers on this topic

Alternatives Considered

Accounting by Wave

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

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

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

Clearbooks

No score
No answers yet
No answers on this topic

Return on Investment

Accounting by Wave

  • Wave is free. As a small business owner, it's difficult for me to commit to using too many different software because costs add up. Wave is a very competitive application with many features. I don't think I can go elsewhere at this point. It's far too attractive.
  • Wave does have paid features relating to payroll and bank account transfers. I prefer to handle incoming payments through checks manually so I don't worry about bank transfers. For some, this might be a concern, but you are likely paying for this no matter what you use.
  • Wave has saved me a considerable amount of time going back and forth between my bank's website and excel sheets. This is immeasurable to me. Keeping invoices in one place is also a big deal. I really love this software.
Chris Hecox profile photo

Clearbooks

  • 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

Add comparison