What users are saying about

Accounting by Wave

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Top Rated
102 Ratings

FreshBooks

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Top Rated
124 Ratings

Accounting by Wave

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Top Rated
102 Ratings
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Score 9.1 out of 101

FreshBooks

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Top Rated
124 Ratings
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Score 8.5 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

FreshBooks

We used Freshbooks as an alternate source of invoicing (we use Stripe for recurring billing) and it works well in this setup. It is not meant for invoicing for Software-as-a-Service products.
Soneeka Arora profile photo

Feature Rating Comparison

Payroll Management

Accounting by Wave
7.9
FreshBooks
Pay calculation
Accounting by Wave
8.3
FreshBooks
Benefit plan administration
Accounting by Wave
7.5
FreshBooks
Direct deposit files
Accounting by Wave
8.0
FreshBooks
Salary revision and increment management
Accounting by Wave
7.7
FreshBooks
Reimbursement management
Accounting by Wave
8.0
FreshBooks

Customization

Accounting by Wave
9.0
FreshBooks
7.0
API for custom integration
Accounting by Wave
8.9
FreshBooks
7.0
Plug-ins
Accounting by Wave
9.1
FreshBooks
7.0

Security

Accounting by Wave
8.6
FreshBooks
9.0
Single sign-on capability
Accounting by Wave
9.1
FreshBooks
10.0
Role-based user permissions
Accounting by Wave
8.1
FreshBooks
8.0

Reporting & Analytics

Accounting by Wave
8.4
FreshBooks
6.9
Dashboards
Accounting by Wave
8.4
FreshBooks
7.9
Standard reports
Accounting by Wave
8.3
FreshBooks
7.9
Custom reports
Accounting by Wave
8.6
FreshBooks
4.8

General Ledger and Configurable Accounting

Accounting by Wave
8.2
FreshBooks
7.9
Accounts payable
Accounting by Wave
8.6
FreshBooks
8.7
Accounts receivable
Accounting by Wave
9.2
FreshBooks
8.6
Cash management
Accounting by Wave
8.0
FreshBooks
7.0
Bank reconciliation
Accounting by Wave
7.8
FreshBooks
7.0
Expense management
Accounting by Wave
8.5
FreshBooks
7.6
Time tracking
Accounting by Wave
7.3
FreshBooks
8.3
Fixed asset management
Accounting by Wave
6.3
FreshBooks
Multi-currency support
Accounting by Wave
8.5
FreshBooks
7.0
Multi-division support
Accounting by Wave
7.5
FreshBooks
Regulations compliance
Accounting by Wave
7.3
FreshBooks
8.1
Electronic tax filing
Accounting by Wave
6.0
FreshBooks
Self-service portal
Accounting by Wave
9.0
FreshBooks
9.1
Global Financial Support
Accounting by Wave
9.0
FreshBooks
Primary and Secondary Ledgers
Accounting by Wave
9.3
FreshBooks
Intercompany Accounting
Accounting by Wave
8.7
FreshBooks
Localizations
Accounting by Wave
9.5
FreshBooks
Journals and Reconciliations
Accounting by Wave
8.1
FreshBooks
Enterprise Accounting
Accounting by Wave
8.7
FreshBooks
Configurable Accounting
Accounting by Wave
8.5
FreshBooks
Centralized Rules Framework
Accounting by Wave
9.0
FreshBooks
Standardized Processes
Accounting by Wave
8.0
FreshBooks

Inventory Management

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

Order Management

Accounting by Wave
7.9
FreshBooks
8.5
Pricing
Accounting by Wave
8.3
FreshBooks
7.4
Order entry
Accounting by Wave
8.3
FreshBooks
7.9
Credit card processing
Accounting by Wave
9.1
FreshBooks
8.6
Cost of goods sold
Accounting by Wave
8.8
FreshBooks
10.0
Order Orchestration
Accounting by Wave
8.0
FreshBooks
End-to-end order visibility
Accounting by Wave
4.8
FreshBooks
Order exception Resolution
Accounting by Wave
8.0
FreshBooks

Accounting Firm BPO Features

Accounting by Wave
8.0
FreshBooks
7.4
Branded client dashboards
Accounting by Wave
8.0
FreshBooks
5.0
Client data roll-up capabilities
Accounting by Wave
8.0
FreshBooks
Client data consolidation for benchmarking
Accounting by Wave
7.5
FreshBooks
Configurable alerts
Accounting by Wave
8.0
FreshBooks
8.1
Billing bypass
Accounting by Wave
8.0
FreshBooks
Client template cloning
Accounting by Wave
8.0
FreshBooks
8.2
Single sign-on
Accounting by Wave
9.0
FreshBooks
8.4
Configurable client onboarding questions
Accounting by Wave
8.0
FreshBooks
Cross-client workflow management
Accounting by Wave
8.0
FreshBooks
Industry-specific versioning
Accounting by Wave
8.0
FreshBooks
Legacy system data migration
Accounting by Wave
8.0
FreshBooks

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
  • Invoices branded for my company are sent directly to my clients from within FreshBooks.
  • FreshBooks will request reviews of my services from my clients when they make payments.
  • Online payments can be made by my clients directly from the invoice.
Raylene Wall profile photo

Cons

  • Wave is owned by ADP and integrates well, but I'm less of a fan of ADP these days, so I'll need to work out how it'll work out with alternate payroll providers.
  • The app for Wave has some great functions, but the website has much more complete integration, where you can 'skip' sending an invoice if you're just using it to track invoices for retainer-based clients.
  • The receipt tracking app is separate from the accounting app, and could possibly be integrated better.
Carl Grivakis profile photo
  • Can't really think of negatives.
Kathleen Allardyce 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
FreshBooks6.6
Based on 18 answers
I'm really considering switching to Nutcache but am hesitant in doing so because I'd have to manually input all of my prior expense and information if I wanted to have access to the historical data within the system. Additionally, I'm not sure how long Nutcache will be around and if they'll be adding any of the features that I really want like being able to use it as a way to easily track all my business income and expenses.
LaToya M. Davidson-Perez 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
FreshBooks8.0
Based on 7 answers
FreshBooks is very easy to use even for novices. If you're looking for an online accounting software that is full of features, has great aesthetics and is user-friendly, then this is definitely the software for you. I've been using it for several years now and despite being tempted to switch by other vendors, I like the feel of FreshBooks and it's mobile features.
LaToya M. Davidson-Perez 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
FreshBooks10.0
Based on 2 answers
FreshBooks is easy to use and always works!
Matt Franko 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
FreshBooks8.0
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
FreshBooks7.0
Based on 3 answers
I think that their online tools and resources are great and concise but would like it more if you knew what improvements were in the pipeline. There are a number of features or tweaks that I've seen suggested but I don't really know if anyone from FreshBooks is listening to them or if they're being worked on.
LaToya M. Davidson-Perez 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
FreshBooks10.0
Based on 1 answer
I haven't changed my mind since my first evaluation. Freshbooks is still meeting my needs, easy to use, etc.
Kathleen Allardyce profile photo

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
Don't get me wrong — I like Xero for accounting purposes. But Xero's invoicing isn't great. There's too many features I depend on that FreshBooks has that Xero just does not. I need to be able to take deposits, send automatic reminders, and create an extremely user-friendly experience. Xero is great for accounting, but doesn't provide that experience. That's why FreshBooks was a no-brainer for me. I technically use both, but FreshBooks specifically for invoicing.
Asia Matos profile photo

Rating for Public Practice CPAs

Accounting by Wave8.0
Based on 8 answers
It's easy and quick to setup. It's user friendly and doesn't use too much jargon so my clients understand it and use it properly. It allows me to switch between different clients quickly so I can respond to any queries by looking at the same data.
Paul Colman FCA profile photo
FreshBooks7.0
Based on 1 answer
A good software just not as familiar as QuickBooks Online
Brent Bement, CPA profile photo

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
  • Easy billing.
  • Overall increased efficiency with bookkeeping.
  • Great tool for creating estimates and tracking receipts.
LaToya M. Davidson-Perez 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
Accounting by Wave Editions & Modules
Accounting by Wave
Additional Pricing Details

FreshBooks

General
Free Trial
Yes
Free/Freemium Version
Premium Consulting/Integration Services
Entry-level set up fee?
No
FreshBooks Editions & Modules
FreshBooks
Edition
Lite
$15
Plus
$25
Premium
$50
Additional Pricing Details