Likelihood to Recommend Financial Edge is well suited for traditional day to day accounting, accounts payable, and related needs. Financial Edge dashboard does not provide a snapshot view of data that I have found are available through other platforms (like QBO). Read full review Wave Accounting was used for a small practice without a lot of the accounting considerations a large company would have. For the price, you really can't beat what Wave offers out of the box. All of the basic tools for things like invoicing and expenses are all easy to use. End of year accounting is easy with exports of data.
Read full review Pros Financial edge is able to be customized in a way that fits our organization. Financial edge is able to provide reports to our end-users on budget versus actual account balances. Financial edge is able to handle a large volume of transactions with ease, having built-in capabilities for batching and balancing. Read full review Reconciliation is very difficult with multiple Wave transactions that need to be deleted or merged before it can be matched to a bank transaction. Payroll worked fine for us but took several days to get it set up. We have switched to another bookkeeping system and another payroll system. Canceling with Wave took several days and they charge $6 for something even though the month was paid for in advance. Credit card processing is nice and worked fine for us. Read full review Cons Customer service blames the customer, and never offers solutions other than "wait it out." I've always been told it's my computer, even though everyone else at my work has the same issues. Website is constantly "under maintenance" and it somehow never gets better. The Database View is outdated and glitchy. Honestly get rid of it. The Crystal Report is the only way to handle monthly recurring statements, and Financial Edge does not offer support for it anymore. Good luck figuring that out on your own. Read full review I know that credit card processing is a way for Wave to make money, but I really wish they offered ACH payment on Invoices. I do cash-based accounting, which means I have to make little journal entries at the start and end of each year to get my books to balance because Wave wants to do everything differently. This should just be a setting to flip, whether you want cash-based or accrual-based. They use Yodlee for bank connection, which doesn't play nice with 2FA. Pretty much every time I log in I have to re-enter credentials, get a code sent to me, reauthenticate, and know that I'm going to have to do it again next week. Not really on Wave, but wish they could get it together nonetheless. Read full review Likelihood to Renew Easy to use for clients with no accounting background and the price is right.
Read full review Usability It's user friendly, when it wants to be.
Read full review 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
Read full review Reliability and Availability WAVE is always available when we need it ! Peter
Read full review Performance 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.
Read full review Support Rating I would give this a zero if I could. Here's the deal. Once you request a chat with a representative, they immediately respond. So responsiveness: 10/10. However, they have a tendency to (always) tell you that whatever problem you're experiencing is your problem, not theirs. They offer no solutions and never take responsibility for their website malfunctioning
Read full review I never had to call Wave Support as we barely experienced any support-related problems on our side. However, I do know a few people that complained about Wave support. It would be nice as well, though if they could have more in your face tutorials for new users or how-to videos should we struggle to do something
Read full review Online Training easy to use and east to train on ! Our WAVE clients enjoy the ease of use
Read full review Alternatives Considered Financial Edge is more economical than GuideStar, and more focused on the financial successes than simply the management of funds and general data.
Read full review Wave is FREE for most functions. Payment processing costs no matter where you go (as does payroll or taxes). Wave rises above tools like
QuickBooks Online because they know that for our small firm, being nimble is the name of the game. We don't need exhaustive reporting and management like QB offers and we certainly don't want to pay for it
Read full review Scalability Once they out grow what is ability to move up to a more robust system?
Read full review Return on Investment Like any enterprise software, there are costs/investments ahead of return. It isn't something you would implement without support. During the significant financial downturn, we were able to use FE to forecast trends and make budget adjustments easily. It transformed communication about forecasting and cuts with assurance. Read full review Wave has been ROI positive for our company. With not having to pay for the service we can use our money for growing our business. The fees on credit card transactions for invoices are reasonable especially as we don't pay a monthly subscription. The invoicing feature has made our lives easier for us and our customers. The invoicing piece and AR tracking has been ROI positive as well. Read full review ScreenShots