What users are saying about

Accounting by Wave

<a href='https://www.trustradius.com/static/about-trustradius-scoring#question3' target='_blank' rel='nofollow'>Customer Verified: Read more.</a>
Top Rated
102 Ratings
31 Ratings

Accounting by Wave

<a href='https://www.trustradius.com/static/about-trustradius-scoring#question3' target='_blank' rel='nofollow'>Customer Verified: Read more.</a>
Top Rated
102 Ratings
<a href='https://www.trustradius.com/static/about-trustradius-scoring' target='_blank' rel='nofollow'>trScore algorithm: Learn more.</a>
Score 9.1 out of 101
31 Ratings
<a href='https://www.trustradius.com/static/about-trustradius-scoring' target='_blank' rel='nofollow'>trScore algorithm: Learn more.</a>
Score 9.3 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

FreeAgent

FreeAgent is particularly suited to freelancers and SMEs that have project and/or time based billing
Eddie May profile photo

Feature Rating Comparison

Payroll Management

Accounting by Wave
7.9
FreeAgent
8.6
Pay calculation
Accounting by Wave
8.3
FreeAgent
8.0
Benefit plan administration
Accounting by Wave
7.5
FreeAgent
8.5
Direct deposit files
Accounting by Wave
8.0
FreeAgent
8.9
Salary revision and increment management
Accounting by Wave
7.7
FreeAgent
8.8
Reimbursement management
Accounting by Wave
8.0
FreeAgent
8.7

Customization

Accounting by Wave
9.0
FreeAgent
5.5
API for custom integration
Accounting by Wave
8.9
FreeAgent
4.5
Plug-ins
Accounting by Wave
9.1
FreeAgent
6.4

Security

Accounting by Wave
8.6
FreeAgent
8.5
Single sign-on capability
Accounting by Wave
9.1
FreeAgent
9.0
Role-based user permissions
Accounting by Wave
8.1
FreeAgent
8.0

Reporting & Analytics

Accounting by Wave
8.4
FreeAgent
7.8
Dashboards
Accounting by Wave
8.4
FreeAgent
10.0
Standard reports
Accounting by Wave
8.3
FreeAgent
9.0
Custom reports
Accounting by Wave
8.6
FreeAgent
4.4

General Ledger and Configurable Accounting

Accounting by Wave
8.2
FreeAgent
9.3
Accounts payable
Accounting by Wave
8.6
FreeAgent
10.0
Accounts receivable
Accounting by Wave
9.2
FreeAgent
10.0
Cash management
Accounting by Wave
8.0
FreeAgent
10.0
Bank reconciliation
Accounting by Wave
7.8
FreeAgent
10.0
Expense management
Accounting by Wave
8.5
FreeAgent
10.0
Time tracking
Accounting by Wave
7.3
FreeAgent
10.0
Fixed asset management
Accounting by Wave
6.3
FreeAgent
8.6
Multi-currency support
Accounting by Wave
8.5
FreeAgent
9.1
Multi-division support
Accounting by Wave
7.5
FreeAgent
9.0
Regulations compliance
Accounting by Wave
7.3
FreeAgent
8.7
Electronic tax filing
Accounting by Wave
6.0
FreeAgent
9.0
Self-service portal
Accounting by Wave
9.0
FreeAgent
9.0
Global Financial Support
Accounting by Wave
9.0
FreeAgent
Primary and Secondary Ledgers
Accounting by Wave
9.3
FreeAgent
Intercompany Accounting
Accounting by Wave
8.7
FreeAgent
Localizations
Accounting by Wave
9.5
FreeAgent
Journals and Reconciliations
Accounting by Wave
8.1
FreeAgent
8.0
Enterprise Accounting
Accounting by Wave
8.7
FreeAgent
Configurable Accounting
Accounting by Wave
8.5
FreeAgent
Centralized Rules Framework
Accounting by Wave
9.0
FreeAgent
Standardized Processes
Accounting by Wave
8.0
FreeAgent

Inventory Management

Accounting by Wave
8.9
FreeAgent
7.4
Inventory tracking
Accounting by Wave
9.5
FreeAgent
7.7
Automatic reordering
Accounting by Wave
8.0
FreeAgent
8.2
Location management
Accounting by Wave
9.0
FreeAgent
4.5
Manufacturing module
Accounting by Wave
9.0
FreeAgent
9.1

Order Management

Accounting by Wave
7.9
FreeAgent
8.1
Pricing
Accounting by Wave
8.3
FreeAgent
8.1
Order entry
Accounting by Wave
8.3
FreeAgent
6.8
Credit card processing
Accounting by Wave
9.1
FreeAgent
8.2
Cost of goods sold
Accounting by Wave
8.8
FreeAgent
9.1
Order Orchestration
Accounting by Wave
8.0
FreeAgent
End-to-end order visibility
Accounting by Wave
4.8
FreeAgent
Order exception Resolution
Accounting by Wave
8.0
FreeAgent

Accounting Firm BPO Features

Accounting by Wave
8.0
FreeAgent
8.4
Branded client dashboards
Accounting by Wave
8.0
FreeAgent
9.1
Client data roll-up capabilities
Accounting by Wave
8.0
FreeAgent
8.6
Client data consolidation for benchmarking
Accounting by Wave
7.5
FreeAgent
8.2
Configurable alerts
Accounting by Wave
8.0
FreeAgent
9.1
Billing bypass
Accounting by Wave
8.0
FreeAgent
9.1
Client template cloning
Accounting by Wave
8.0
FreeAgent
8.2
Single sign-on
Accounting by Wave
9.0
FreeAgent
9.1
Configurable client onboarding questions
Accounting by Wave
8.0
FreeAgent
6.4
Cross-client workflow management
Accounting by Wave
8.0
FreeAgent
Industry-specific versioning
Accounting by Wave
8.0
FreeAgent
Legacy system data migration
Accounting by Wave
8.0
FreeAgent
8.2

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
  • Importing and explaining banking transactions is a breeze, no more spreadsheets to battle.
  • I can now easily craft and send great looking estimates, quotes and invoices over to clients in moments via email.
  • Completing and filing my tax return has now become infinitely simpler as FreeAgent does most of the hard work for you.
Alan Wright 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
  • None really - aside from adding even more integration FreeAgent is good as it is
Edgar Danielyan 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
FreeAgent9.1
Based on 4 answers
I spent nearly two decades in IT and am happy to say that FreeAgent's user interface is one of the best interfaces I have ever used.
Edgar Danielyan 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
FreeAgent8.9
Based on 5 answers
Based in a cloud and never had any issues with down time. I can access from any device
Gavin Percy profile photo

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
FreeAgent9.1
Based on 1 answer
No answer on this topic is available.

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

Wave is better in being my one place to go for collecting payments. PayPal is nice if you're on the road collecting payments through their app and using PayPal Here, but if you would like to keep invoicing in the same place as your bookkeeping, I think Wave is a better-integrated solution.
Carl Grivakis profile photo
FreeAgent was really the first product we looked at based on a personal recommendation and since we found it to be almost perfect we didn't look at the alternatives.
Edgar Danielyan 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
FreeAgent9.1
Based on 1 answer
No answer on this topic is available.

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
FreeAgent8.2
Based on 1 answer
No answer on this topic is available.

Return on Investment

  • Faster billing as you have the ability to invoice directly from a smartphone (iPhone or Android)
Michele Craig CPA,CMA profile photo
  • Less time spend on accounting
  • Clear picture of financial situation
  • Less year end accounting cost as most of the work is done by us
Maribel Pascual 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

FreeAgent

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