What users are saying about

Accounting by Wave

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Top Rated
102 Ratings
Top Rated
104 Ratings

Accounting by Wave

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Top Rated
102 Ratings
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Score 9.1 out of 101
Top Rated
104 Ratings
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Score 7.3 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

Host Analytics

The Host Analytics Cloud EPM Suite would be well suited for an organization that is currently closing and consolidating in Excel each month. Additionally, it would be great for an organization that is growing quickly and acquiring new entities on a regular basis
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Feature Rating Comparison

Payroll Management

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

Customization

Accounting by Wave
9.0
Host Analytics
API for custom integration
Accounting by Wave
8.9
Host Analytics
Plug-ins
Accounting by Wave
9.1
Host Analytics

Security

Accounting by Wave
8.6
Host Analytics
Single sign-on capability
Accounting by Wave
9.1
Host Analytics
Role-based user permissions
Accounting by Wave
8.1
Host Analytics

Reporting & Analytics

Accounting by Wave
8.4
Host Analytics
Dashboards
Accounting by Wave
8.4
Host Analytics
Standard reports
Accounting by Wave
8.3
Host Analytics
Custom reports
Accounting by Wave
8.6
Host Analytics

General Ledger and Configurable Accounting

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

Inventory Management

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

Order Management

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

Accounting Firm BPO Features

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

Budgeting, Planning, and Forecasting

Accounting by Wave
Host Analytics
8.0
Long-term financial planning
Accounting by Wave
Host Analytics
7.4
Financial budgeting
Accounting by Wave
Host Analytics
8.6
Forecasting
Accounting by Wave
Host Analytics
8.5
Scenario modeling
Accounting by Wave
Host Analytics
6.9
Management reporting
Accounting by Wave
Host Analytics
8.3

Consolidation and Close

Accounting by Wave
Host Analytics
7.1
Financial data consolidation
Accounting by Wave
Host Analytics
8.3
Journal entries and reports
Accounting by Wave
Host Analytics
7.0
Multi-currency management
Accounting by Wave
Host Analytics
8.4
Intercompany Eliminations
Accounting by Wave
Host Analytics
7.0
Minority Ownership
Accounting by Wave
Host Analytics
1.3
Local and consolidated reporting
Accounting by Wave
Host Analytics
8.6
Detailed Audit Trails
Accounting by Wave
Host Analytics
9.2

FInancial Reporting and Compliance

Accounting by Wave
Host Analytics
7.9
Financial Statement Reporting
Accounting by Wave
Host Analytics
8.2
Management Reporting
Accounting by Wave
Host Analytics
8.6
Excel-based Reporting
Accounting by Wave
Host Analytics
7.9
Automated board and financial reporting
Accounting by Wave
Host Analytics
8.0
XBRL support for regulatory filing
Accounting by Wave
Host Analytics
7.1

Analytics

Accounting by Wave
Host Analytics
4.2
Personalized dashboards
Accounting by Wave
Host Analytics
3.0
Color-coded scorecards
Accounting by Wave
Host Analytics
4.8
KPIs
Accounting by Wave
Host Analytics
3.4
Cost and profitability analysis
Accounting by Wave
Host Analytics
6.1
Key Performance Indicator setting
Accounting by Wave
Host Analytics
4.8
Benchmarking with external data
Accounting by Wave
Host Analytics
3.0

Integration

Accounting by Wave
Host Analytics
7.5
Flat file integration
Accounting by Wave
Host Analytics
7.3
Excel data integration
Accounting by Wave
Host Analytics
9.0
Direct links to 3rd-party data sources
Accounting by Wave
Host Analytics
6.2

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
  • Host reporting has already proven to be a time saver. Even in the early stages of use, I was able to build a report for management that compared actual to forecast and then report on various departments.
  • One of the biggest challenges we had was managers taking ownership of their budgets. In the past, they would pass off the data to Finance and then cast blame when the results were not favorable. This year, they are in charge in entering and approving data. VPs now have to approve and all of this is completed in Host. Elimination of extra steps for Finance to rekey and potential errors.
  • I really love the community feature. This allows you the ability to ask other users how they are handling an issue. We have solved a great many problems with this.
Lee Starr 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
  • As with all software packages, we would love to have an undo button.
  • One of the best features is also a feature that is hard to adjust to at the beginning. The Row sets and Column sets make building new reports quick but when your Column contain various formulas, you have to add exceptions. Exception formulas within cells are not very forgiving. They do not let you make changes to your report once you create them. This is making us rethink how our old reports are designed.
Lee Starr 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
Host Analytics8.6
Based on 12 answers
We currently have no plans to change our forecasting tool.
Jarrod Lemon 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
Host Analytics7.3
Based on 6 answers
While there is still room for improvement (and I know they are working on it), I think Host Analytics is very user friendly, overall. Breaking the modules down, I give Reporting an A. It's very easy to learn, especially for those already familiar with Excel. The Budget model is a solid B as it takes a bit longer to learn.
Jarrod Lemon 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
Host Analytics8.2
Based on 2 answers
No answer on this topic is available.

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
Host Analytics8.5
Based on 6 answers
I am often able to solve my problem before the support team does (granted, I'm a rock star)
Jarrod Lemon 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
Host Analytics9.1
Based on 5 answers
We now use a partner for any needs we have with Host Analytics. I would recommend using a partner as they are able to provide a wider area of expertise accross multiple platforms and solutions.
Michael Krolick profile photo

Alternatives Considered

Wave's biggest selling point is by far it's price, because their base product for free. Most people sign-up because of that advantage. But here are my opinions of Wave Vs these three other programs I've worked in.Wave vs Freshbooks
-Freshbooks wins for invoicing because it gives you multiple options for payment processing integration and it gives you an audit trail on invoices to show when a client has viewed as well as paid. It also has a project time tracking option that you can then invoice time entries.-Wave wins the accounting side because it actually tracks assets and liabilities, not just income and expenses. -As far as user friendly and accounting knowledge necessary to use, Freshbooks is slightly easier for those with no accounting knowledge.-Wave allows bookkeepers to use their own account access through the collaborator feature, Freshbooks has "accountant" access but you can only view reports and export journal entries. If someone wants help editing transactions they have to share their login info.
Wave vs Quickbooks Online
-Quickbooks Online wins for customization and range of features especially custom reports, sub-accounts in the chart of accounts, and traditional bank reconciliation.-Wave is better in ease of use -Wave Payroll offers a Tax service that automates payroll tax filing, Quickbooks Payroll does not do that you still have to hit send
Wave vs Less Accounting
- Overall I found LessAccounting and Wave very comparable products, but LessAccounting is a paid product and Wave's base product is free w/ advertising on the sidebar.-In the range of features, Wave has more integrated options such as Payroll and Payment Processing.-LessAccounting has a strong emphasis on education and tries to educate the user on basic bookkeeping processes within the software-LessAccounting has a slightly better bank reconciliation feature, but only slightly better because you enter the starting and ending statement balances. Neither product are strong on true bank statement reconciliation.
Melissa Whaley profile photo
We demoed Adaptive Insights about a year ago and at that time it seemed Host Analytics was slicker and easier to use than Adaptive. However, in a recent release of Adaptive Insights, the software has jumped well ahead of Host in UX. I have not seen Adaptive's day to day functionality, so I can't compare on that level.
No photo available

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
Host Analytics9.1
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
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 major ROI here has been our ability to have multiple people contributing to the forecast at once. Our company has many different departments all of which are often budgeting at the same time. We have one version of the truth and don't have to constantly email around excel spreadsheets.
No photo available

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

Host Analytics

General
Free Trial
Free/Freemium Version
Premium Consulting/Integration Services
Yes
Entry-level set up fee?
No
Host Analytics Editions & Modules
Host Analytics
Edition
Corporate
1
Enterprise
1. Per User per Month
Modules
Host Analytics Planning
Host Analytics Consolidation
Host Analytics Modeling
Additional Pricing Details
http://www.hostanalytics.com/about/contact-us