What users are saying about

Accounting by Wave

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Top Rated
102 Ratings
8 Ratings

Accounting by Wave

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Top Rated
102 Ratings
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Score 9.1 out of 101
8 Ratings
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Score 8.2 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

Hubble

I like the real time aspect of the Hubble reporting. I can have checks run and then immediately go into Hubble and run a check backup report, import it to Excel and send off to people who need it right away. It's great to be able to have updated records at the touch of button.
No photo available

Feature Rating Comparison

Payroll Management

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

Customization

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

Security

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

Reporting & Analytics

Accounting by Wave
8.4
Hubble
Dashboards
Accounting by Wave
8.4
Hubble
Standard reports
Accounting by Wave
8.3
Hubble
Custom reports
Accounting by Wave
8.6
Hubble

General Ledger and Configurable Accounting

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

Inventory Management

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

Order Management

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

Accounting Firm BPO Features

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

Budgeting, Planning, and Forecasting

Accounting by Wave
Hubble
8.5
Long-term financial planning
Accounting by Wave
Hubble
8.0
Financial budgeting
Accounting by Wave
Hubble
8.1
Forecasting
Accounting by Wave
Hubble
9.0
Management reporting
Accounting by Wave
Hubble
9.0

Consolidation and Close

Accounting by Wave
Hubble
8.6
Financial data consolidation
Accounting by Wave
Hubble
9.0
Journal entries and reports
Accounting by Wave
Hubble
8.0
Multi-currency management
Accounting by Wave
Hubble
8.2
Intercompany Eliminations
Accounting by Wave
Hubble
9.1
Local and consolidated reporting
Accounting by Wave
Hubble
8.2
Detailed Audit Trails
Accounting by Wave
Hubble
9.0

FInancial Reporting and Compliance

Accounting by Wave
Hubble
8.5
Financial Statement Reporting
Accounting by Wave
Hubble
8.1
Management Reporting
Accounting by Wave
Hubble
8.7
Excel-based Reporting
Accounting by Wave
Hubble
8.9

Analytics

Accounting by Wave
Hubble
9.0
Personalized dashboards
Accounting by Wave
Hubble
9.0

Integration

Accounting by Wave
Hubble
8.9
Excel data integration
Accounting by Wave
Hubble
9.8
Direct links to 3rd-party data sources
Accounting by Wave
Hubble
8.0

Pros

  • Quoting and Invoicing - This feature is huge to be able to manage customers and automate the process of sending invoices as well as reminding outstanding balance holders about their obligations.
  • Payment Processing - Once you get the invoicing down, the ability to process credit card and ACH payments in a single package is great. The fees are competitive and the turn-around time to money in the bank is quick.
  • Bank Integrations - I mean, this ought to be a standard thing these days, but Wave makes it super simple. There is no need to use esoteric APIs or ugly interfaces - everything is in the same Wave wrapper and the functionality is truly seamless.
No photo available
  • We run some check backup reports that can be imported in Excel.
  • Invoice reports that are imported into Excel.
  • Aging reports that are imported into Excel.
No photo available

Cons

  • The mobile experience leaves a lot to be desired. While I can use the receipt app to capture expenses, we live in a mobile digital world where I need to be able to create quotes and invoices on the spot and not back at my desk.
  • There are a few accounting and account related tools that could use some sharpening. For example, there isn't a good way to merge transactions - so when I snap a picture of a receipt and add it there is trouble reconciling against the bank. This shows up as two discrete transactions that cannot be merged - so one has to be manually deleted. It kind of defeats the purpose of scanning the receipts in entirely.
  • We've struggled with integrating debt accounts. For example, a shareholder may pay for something to get us by one day - how to we capture that as a debt owed? There isn't a way. The "shareholder debt" account doesn't talk to the rest of the system.
No photo available
  • Creating some reports can be tough.
  • When using reports, they can be slow sometimes.
  • Index builds can be cumbersome, if you are searching through many records.
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
Hubble9.1
Based on 1 answer
We have been using Hubble for almost 10 years and it has not let us down.
Greg Gall 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
No score
No answers yet
No answers on this topic

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

Across the board Wave takes the cake on price at $0/mo aside from payroll fees and credit card processing. That aside I'd say most accounting systems are fairly similar, however what I like about Wave is just how simple the interface is and the outstanding customer support from both the community and the company.
Matthew Gehrman profile photo
I haven't used any other tools like Hubble.
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
  • Easy access to real time invoice counts.
  • Easy importing into Excel.
  • Sharing of reports with other users.
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

Hubble

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