What users are saying about

Accounting by Wave

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Top Rated
102 Ratings

Financial Edge NXT

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Top Rated
89 Ratings

Accounting by Wave

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Top Rated
102 Ratings
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Score 9.1 out of 101

Financial Edge NXT

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Top Rated
89 Ratings
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Score 8.2 out of 101

Add comparison

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

Financial Edge NXT

Financial Edge NXT is suitable for organizations of all sizes. In fact, even though our organization is large, we only have two users for FE NXT. We have roughly 90 users of Raiser's Edge and RE NXT, however, and the integration between the two systems is valuable.
No photo available

Feature Rating Comparison

Payroll Management

Accounting by Wave
7.9
Financial Edge NXT
5.4
Pay calculation
Accounting by Wave
8.3
Financial Edge NXT
5.2
Benefit plan administration
Accounting by Wave
7.5
Financial Edge NXT
Direct deposit files
Accounting by Wave
8.0
Financial Edge NXT
5.4
Salary revision and increment management
Accounting by Wave
7.7
Financial Edge NXT
4.6
Reimbursement management
Accounting by Wave
8.0
Financial Edge NXT
6.3

Customization

Accounting by Wave
9.0
Financial Edge NXT
6.7
API for custom integration
Accounting by Wave
8.9
Financial Edge NXT
7.9
Plug-ins
Accounting by Wave
9.1
Financial Edge NXT
5.6

Security

Accounting by Wave
8.6
Financial Edge NXT
7.0
Single sign-on capability
Accounting by Wave
9.1
Financial Edge NXT
7.1
Role-based user permissions
Accounting by Wave
8.1
Financial Edge NXT
6.8

Reporting & Analytics

Accounting by Wave
8.4
Financial Edge NXT
6.7
Dashboards
Accounting by Wave
8.4
Financial Edge NXT
6.8
Standard reports
Accounting by Wave
8.3
Financial Edge NXT
6.7
Custom reports
Accounting by Wave
8.6
Financial Edge NXT
6.5

General Ledger and Configurable Accounting

Accounting by Wave
8.2
Financial Edge NXT
7.0
Accounts payable
Accounting by Wave
8.6
Financial Edge NXT
7.1
Accounts receivable
Accounting by Wave
9.2
Financial Edge NXT
6.2
Cash management
Accounting by Wave
8.0
Financial Edge NXT
6.8
Bank reconciliation
Accounting by Wave
7.8
Financial Edge NXT
7.0
Expense management
Accounting by Wave
8.5
Financial Edge NXT
7.3
Time tracking
Accounting by Wave
7.3
Financial Edge NXT
6.5
Fixed asset management
Accounting by Wave
6.3
Financial Edge NXT
7.0
Multi-currency support
Accounting by Wave
8.5
Financial Edge NXT
7.8
Multi-division support
Accounting by Wave
7.5
Financial Edge NXT
7.0
Regulations compliance
Accounting by Wave
7.3
Financial Edge NXT
7.6
Electronic tax filing
Accounting by Wave
6.0
Financial Edge NXT
5.6
Self-service portal
Accounting by Wave
9.0
Financial Edge NXT
8.0
Global Financial Support
Accounting by Wave
9.0
Financial Edge NXT
Primary and Secondary Ledgers
Accounting by Wave
9.3
Financial Edge NXT
Intercompany Accounting
Accounting by Wave
8.7
Financial Edge NXT
Localizations
Accounting by Wave
9.5
Financial Edge NXT
Journals and Reconciliations
Accounting by Wave
8.1
Financial Edge NXT
Enterprise Accounting
Accounting by Wave
8.7
Financial Edge NXT
Configurable Accounting
Accounting by Wave
8.5
Financial Edge NXT
Centralized Rules Framework
Accounting by Wave
9.0
Financial Edge NXT
Standardized Processes
Accounting by Wave
8.0
Financial Edge NXT

Inventory Management

Accounting by Wave
8.9
Financial Edge NXT
Inventory tracking
Accounting by Wave
9.5
Financial Edge NXT
Automatic reordering
Accounting by Wave
8.0
Financial Edge NXT
Location management
Accounting by Wave
9.0
Financial Edge NXT
Manufacturing module
Accounting by Wave
9.0
Financial Edge NXT

Order Management

Accounting by Wave
7.9
Financial Edge NXT
5.0
Pricing
Accounting by Wave
8.3
Financial Edge NXT
5.6
Order entry
Accounting by Wave
8.3
Financial Edge NXT
Credit card processing
Accounting by Wave
9.1
Financial Edge NXT
6.6
Cost of goods sold
Accounting by Wave
8.8
Financial Edge NXT
2.7
Order Orchestration
Accounting by Wave
8.0
Financial Edge NXT
End-to-end order visibility
Accounting by Wave
4.8
Financial Edge NXT
Order exception Resolution
Accounting by Wave
8.0
Financial Edge NXT

Accounting Firm BPO Features

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

Pros

  • The ease of use with Wave makes it a great tool. Someone without much accounting experience can jump in and use the software.
  • The reports features in Wave make looking at financial statements a breeze. In addition you can quickly drill down into expense categories to see all transactions of a certain type.
  • It is very easy to generate a sales invoice and see the average period for our company to get paid.
  • I love the Wave Invoice app where we can track invoices on the go and verify payment history.
Lukas Sundahl, MBA profile photo
  • Accounts Payable, which I use daily, is very straightforward and easy to maneuver around.
  • Reports in Accounts Payable are what I need and are easy to use.
  • Running a check run from start to finish is done with ease and hassle free.
  • Accounts Payable Module is simple and user-friendly. Finding inputted data is a snap to find.
No photo available

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
  • There are some nuances in FE that can stand to be improved upon - nothing that will discourage me from using FE, just things that would make it easier to navigate through the system. For example, navigating between modules could be improved upon. Having the ability to navigate through the system while reports are running should be an option.
Regina Robinson 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
Financial Edge NXT8.1
Based on 3 answers
There aren't too many non-profit specific financial/accounting software solutions available. Even so, Financial Edge NXT meets the needs of our staff and allows us to operate efficiently.
Gregory Seay, CMA, CPA profile photo

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
Financial Edge NXT5.5
Based on 1 answer
Still needs development to match the old client server version
Michael Downs profile photo

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
Financial Edge NXT8.2
Based on 2 answers
Quick, responsive. Keep us in the loop on where the case stands. Chat feature.
Michael Downs profile photo

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

Implementation

No score
No answers yet
No answers on this topic
Financial Edge NXT6.4
Based on 1 answer
From an IT perspective, read up on the user setup integrated with the DB View
Michael Downs profile photo

Alternatives Considered

Wave was more affordable and we were already using it for accounting. The services offered are comparable and quite reliable.
Geri Lynn Peak profile photo
I had used Oracle in previous positions. While it is robust, I feel Financial Edge NXT has a better GUI and also more features/functionality that is easier to use. Being a smaller organization it fits our needs better. We did review over 11 software providers and chose Blackbaud suite of products.
Rhonda Evans-McNeil,MBA 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

  • Keeps me up to date for taxing purposes
Torrey Holman profile photo
  • Ability for staff to work remotely without the use of Citrix.
  • Moving to a SaaS environment for our core applications.
Michael Downs profile photo

Screenshots

Accounting by Wave

Pricing Details

Accounting by Wave

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

Financial Edge NXT

General
Free Trial
Free/Freemium Version
Premium Consulting/Integration Services
Yes
Entry-level set up fee?
Required
Additional Pricing Details