What users are saying about

Accounting by Wave

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Top Rated
102 Ratings

Accounting by Wave

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Top Rated
102 Ratings
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Score 9.1 out of 101
18 Ratings
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Score 6.5 out of 101

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Likelihood to Recommend

Accounting by Wave

Wave is great at small business accounting where fairly simple quotes and invoices can be set up and payments can be received online or as mailed checks. Other or more complicated situations are not well suited to the platform. Any business that takes in Bitcoin or other alternative currencies will struggle to link the account types together
No photo available

GoDaddy Bookkeeping

Perfect for US market but not transferable to UK market, needs some upgrades for this. Even when set up with a UK address it won't allow changes in tax year end, presuming that tax year starts Jan - Dec. Also shows dollars instead of pounds even though figures were correct with solution.
No photo available

Feature Rating Comparison

Payroll Management

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

Customization

Accounting by Wave
9.0
GoDaddy Bookkeeping
API for custom integration
Accounting by Wave
8.9
GoDaddy Bookkeeping
Plug-ins
Accounting by Wave
9.1
GoDaddy Bookkeeping

Security

Accounting by Wave
8.6
GoDaddy Bookkeeping
Single sign-on capability
Accounting by Wave
9.1
GoDaddy Bookkeeping
Role-based user permissions
Accounting by Wave
8.1
GoDaddy Bookkeeping

Reporting & Analytics

Accounting by Wave
8.4
GoDaddy Bookkeeping
7.3
Dashboards
Accounting by Wave
8.4
GoDaddy Bookkeeping
8.0
Standard reports
Accounting by Wave
8.3
GoDaddy Bookkeeping
8.0
Custom reports
Accounting by Wave
8.6
GoDaddy Bookkeeping
6.0

General Ledger and Configurable Accounting

Accounting by Wave
8.2
GoDaddy Bookkeeping
6.9
Accounts payable
Accounting by Wave
8.6
GoDaddy Bookkeeping
7.0
Accounts receivable
Accounting by Wave
9.2
GoDaddy Bookkeeping
7.0
Cash management
Accounting by Wave
8.0
GoDaddy Bookkeeping
6.0
Bank reconciliation
Accounting by Wave
7.8
GoDaddy Bookkeeping
8.0
Expense management
Accounting by Wave
8.5
GoDaddy Bookkeeping
7.0
Time tracking
Accounting by Wave
7.3
GoDaddy Bookkeeping
6.0
Fixed asset management
Accounting by Wave
6.3
GoDaddy Bookkeeping
7.0
Multi-currency support
Accounting by Wave
8.5
GoDaddy Bookkeeping
Multi-division support
Accounting by Wave
7.5
GoDaddy Bookkeeping
Regulations compliance
Accounting by Wave
7.3
GoDaddy Bookkeeping
5.0
Electronic tax filing
Accounting by Wave
6.0
GoDaddy Bookkeeping
8.0
Self-service portal
Accounting by Wave
9.0
GoDaddy Bookkeeping
8.0
Global Financial Support
Accounting by Wave
9.0
GoDaddy Bookkeeping
Primary and Secondary Ledgers
Accounting by Wave
9.3
GoDaddy Bookkeeping
Intercompany Accounting
Accounting by Wave
8.7
GoDaddy Bookkeeping
Localizations
Accounting by Wave
9.5
GoDaddy Bookkeeping
Journals and Reconciliations
Accounting by Wave
8.1
GoDaddy Bookkeeping
Enterprise Accounting
Accounting by Wave
8.7
GoDaddy Bookkeeping
Configurable Accounting
Accounting by Wave
8.5
GoDaddy Bookkeeping
Centralized Rules Framework
Accounting by Wave
9.0
GoDaddy Bookkeeping
Standardized Processes
Accounting by Wave
8.0
GoDaddy Bookkeeping

Inventory Management

Accounting by Wave
8.9
GoDaddy Bookkeeping
5.0
Inventory tracking
Accounting by Wave
9.5
GoDaddy Bookkeeping
Automatic reordering
Accounting by Wave
8.0
GoDaddy Bookkeeping
5.0
Location management
Accounting by Wave
9.0
GoDaddy Bookkeeping
Manufacturing module
Accounting by Wave
9.0
GoDaddy Bookkeeping

Order Management

Accounting by Wave
7.9
GoDaddy Bookkeeping
6.5
Pricing
Accounting by Wave
8.3
GoDaddy Bookkeeping
Order entry
Accounting by Wave
8.3
GoDaddy Bookkeeping
Credit card processing
Accounting by Wave
9.1
GoDaddy Bookkeeping
7.0
Cost of goods sold
Accounting by Wave
8.8
GoDaddy Bookkeeping
6.0
Order Orchestration
Accounting by Wave
8.0
GoDaddy Bookkeeping
End-to-end order visibility
Accounting by Wave
4.8
GoDaddy Bookkeeping
Order exception Resolution
Accounting by Wave
8.0
GoDaddy Bookkeeping

Accounting Firm BPO Features

Accounting by Wave
8.0
GoDaddy Bookkeeping
6.8
Branded client dashboards
Accounting by Wave
8.0
GoDaddy Bookkeeping
6.0
Client data roll-up capabilities
Accounting by Wave
8.0
GoDaddy Bookkeeping
Client data consolidation for benchmarking
Accounting by Wave
7.5
GoDaddy Bookkeeping
Configurable alerts
Accounting by Wave
8.0
GoDaddy Bookkeeping
6.0
Billing bypass
Accounting by Wave
8.0
GoDaddy Bookkeeping
Client template cloning
Accounting by Wave
8.0
GoDaddy Bookkeeping
8.0
Single sign-on
Accounting by Wave
9.0
GoDaddy Bookkeeping
7.0
Configurable client onboarding questions
Accounting by Wave
8.0
GoDaddy Bookkeeping
Cross-client workflow management
Accounting by Wave
8.0
GoDaddy Bookkeeping
Industry-specific versioning
Accounting by Wave
8.0
GoDaddy Bookkeeping
Legacy system data migration
Accounting by Wave
8.0
GoDaddy Bookkeeping

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
  • Downloads automatically from eBay.
  • Downloads transactions automatically from Paypal.
  • Easy to upload transactions from a csv to make a tax year complete should you change to the solution part way through your tax year.
  • Dashboard is easy to read with visuals to demonstrate profit and loss.
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
  • Shows dollar signs even when using pounds.
  • Downloads from GoDaddy to csv file have a problem with dates showing some in US format, some in text format and some in UK format. The US dates were difficult to format, I had to type in dates manually for the whole 12 months of transactions.
  • Unable to choose tax year end was geared to US tax years and taxes rather than being able to choose your own tax year and country specific formats.
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
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
GoDaddy Bookkeeping7.0
Based on 1 answer
Loses marks on the tax year only being Jan - Dec and inability to change that to a UK format and choose your year end date.
No photo available

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
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 was more affordable and we were already using it for accounting. The services offered are comparable and quite reliable.
Geri Lynn Peak profile photo
No photo available

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
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

  • 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.
Lukas Sundahl, MBA profile photo
  • Good value for money
  • Ideal for US market
  • Saves man hours with the auto download of eBay transactions
No photo available

Pricing Details

Accounting by Wave

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

GoDaddy Bookkeeping

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