What users are saying about

Accounting by Wave

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Top Rated
103 Ratings

FreshBooks

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Top Rated
128 Ratings

Accounting by Wave

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Top Rated
103 Ratings
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Score 9.1 out of 101

FreshBooks

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Top Rated
128 Ratings
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Score 8.3 out of 101

Add comparison

Likelihood to Recommend

Accounting by Wave

Wave is free to use, and they have some premium features you can pay for. For someone just starting out as a small business, freelancer or independent contractor, this is a Godsend. You can look professional, have something easy to manage, and yet also have excellent records come the end of the year. You won't spend a bunch of time having to learn the program, it's very intuitive and you get a host of great features that will make getting paid easy.
J.P. VanderLinden profile photo

FreshBooks

If you're a small business owner then you may want to consider FreshBooks. But if you don't need the bells and whistles like automatically importing expenses from your bank account or credit card, then try something like Nutcache. FreshBook is a great cloud-based accounting system for businesses of any size. Just know that there are limitations to what it can do. You may need something more robust like QuickBooks. However, I find that as a whole FreshBooks is worth the expense.
LaToya M. Davidson-Perez 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
8.9
FreshBooks
6.9
API for custom integration
Accounting by Wave
8.8
FreshBooks
6.9
Plug-ins
Accounting by Wave
9.0
FreshBooks
6.9

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
8.0
FreshBooks
8.0

Reporting & Analytics

Accounting by Wave
8.4
FreshBooks
6.8
Dashboards
Accounting by Wave
8.4
FreshBooks
7.8
Standard reports
Accounting by Wave
8.3
FreshBooks
7.8
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
8.1
FreshBooks
7.0
Bank reconciliation
Accounting by Wave
7.9
FreshBooks
7.0
Expense management
Accounting by Wave
8.5
FreshBooks
7.3
Time tracking
Accounting by Wave
7.4
FreshBooks
8.3
Fixed asset management
Accounting by Wave
6.5
FreshBooks
Multi-currency support
Accounting by Wave
8.4
FreshBooks
7.0
Multi-division support
Accounting by Wave
7.5
FreshBooks
Regulations compliance
Accounting by Wave
7.3
FreshBooks
8.2
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
8.6
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
8.6
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
8.0
FreshBooks
8.4
Pricing
Accounting by Wave
8.3
FreshBooks
7.1
Order entry
Accounting by Wave
8.4
FreshBooks
7.9
Credit card processing
Accounting by Wave
9.1
FreshBooks
8.4
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
5.1
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
8.5
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

  • tracks and categorizes financial transactions with a direct link to bank accounts and credit cards - helpful since there is no manual input outside of verifying that a category is correct
  • easily creates invoices without the need to input customer information more than once. you can also send directly from the platform and toggle the option to accept credit card and ACH payments
  • creates financial reports with ease
Kristy Nittskoff profile photo
  • Invoicing is quite quick and flexible
  • Creating estimates is also quick and easy to do
  • Entering time, assigning that to clients, entering expenses and assigning to clients
Deryk Wenaus 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
  • New version lacks functionality from the old version that our company uses.
  • Mobile app lacks some desired functionality.
  • Customer portal could use some improvements.
No photo available

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
FreshBooks6.7
Based on 18 answers
Fresh and clean interface, easy-to-use and robust application for accounting.
Ashish Content Writer 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
Well, it's pretty easy to get around and find what you're looking for. But certain things such as search and linking the company in the invoice would make it better
Deryk Wenaus 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

Each one of these cloud-based or desktop accounting services offer different pros and cons. It really comes down to the individual owner's wants and needs. While Wave is not going to be my first choice for a large, complex organization, it really shines when handling a one person shop who wants to keep track of their home and business finances in one place without all the complexity of traditional bookkeeping software. It's far less expensive than its competitors and has made constant strides to improve itself since day one. It also has a very friendly support staff who have a very fast response time.
Eric Matthews profile photo
Years ago we started using FreshBooks and then decided to look for a less expensive option. After trying multiple solutions, we went back to FreshBooks and haven't looked back since. That was over 10 years ago.No service can compete with their functionality, pricing, and support. All of the other services lacked important features and/or didn't respond to pre-sale/support questions.
No photo 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
No score
No answers yet
No answers on this topic

Return on Investment

  • Being as it's free software to use I'd say implementing wave has been a positive return for the business.
  • Providing us the ability to process credit cards over the phone has increased our turn time to receive payments thus saving time overall which equates to $1,000's a year
Matthew Gehrman profile photo
  • The positive impact of FreshBooks is the opportunity to focus on the customer needs.
  • A positive impact is to give every person on the staff a certain goal to be reflected in the software.
  • Another positive impact is the way work is really attending to the details for our goal, building geographical data and business support.
Yemsi Pino 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