What users are saying about

Accounting by Wave

Top Rated
97 Ratings

Coupa

15 Ratings

Accounting by Wave

Top Rated
97 Ratings
Score 9 out of 101

Coupa

15 Ratings
Score 7.9 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

Coupa

Our main goals were to drive value by focusing on adoption by all, increased visibility in spend, and compliance. Coupa is very easy to use and does not feel like an ERP. Our end users like the easy to use, intuitive interface. A side benefit that we have experienced is that we were able to get rid of a shadow system that our IT department was using to track spending. They are able to use Coupa to track committed and actual spend and reconcile it their budgets and forecasts.
JR Miller profile photo

Feature Rating Comparison

Payroll Management

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

Customization

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

Security

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

Reporting & Analytics

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

General Ledger and Configurable Accounting

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

Inventory Management

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

Order Management

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

Accounting Firm BPO Features

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

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
  • Ease of use. No IT support is needed. As the procurement manager, I'm also the Coupa administrator. I have the ability to configure, correct, manipulate, etc., the system to our needs.
  • No on-going training. The system, both P2P and Sourcing are incredibly intuitive. Many SAAS modules change dramatically with each new version and require additional training. Coupa does a great job of putting updated, searchable documents on-line to augment any additional training employees may need.
  • Rock solid stability. Coupa is never down, they far exceed the SLAs we have in place with them. I've never had a catastrophic failure or outage with them.
  • SOX compliancy. Need I say more? My internal and external audit teams have given the tool more than a passing grade.
  • Thought leadership. The tool is constantly evolving to live up to the high expectations of its user base. The Coupa Community has skin-in-the-game and Coupa listens to our needs/wants as well as adding their own cutting edge touches to the tool.
Scott Coleman CPSM, CPSD, C.P.M profile photo

Cons

  • Not too much to complain about with Wave although I do wish they kept an audit trail of all invoice reminders sent, changes in the invoice, and have the ability to pull reports with this data. This functionality would be great to review clients as a whole to determine profitability and time spent with these clients.
  • 9% processing fees for all cards which is a bit higher than some of the competitors like Blue Pay. The pro to this though is there's no monthly commitment or monthly service fees.
Matthew Gehrman profile photo
  • Support Team - A little slow in responding. I think the tool is so configurable that they struggle with figuring out what is causing certain issues that are being submitted on the portal.
  • I'd love for the Sourcing Module to be able to support larger events. There seems to be a limit on the number of lines each event can support and as a growing retailer, our store count dictates we have room to grow and that each store is represented in the bid process.
  • Would like to see the ability to issue multiple POs for a single item to multiple locations. The tool may do this but I know I can't and it may be due to how we interface with our ERP.
Scott Coleman CPSM, CPSD, C.P.M 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
We looked at a number of solutions. Due to retail's high turnover rate I needed a stable tool that was extremely intuitive that store level employees would find easy (and maybe fun) to use. Coupa is so configurable I can set up each store with different spend authorizations to help manage spend at that level
Scott Coleman CPSM, CPSD, C.P.M 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

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

  • 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
  • The Sourcing Module has returned our investment 23 times on an annualized basis.
  • We're now SOX compliant and as a public company, that's keeping us compliant with our corporate charter.
  • Having one central invoicing location has reduced our AP calls significantly. Our suppliers now have visibility into where their invoice is in the payment cycle. We also have a much higher invoice-to-pay cycle.
Scott Coleman CPSM, CPSD, C.P.M 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

Coupa

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