What users are saying about

Accounting by Wave

Top Rated
97 Ratings

Kashflow

2 Ratings

Accounting by Wave

Top Rated
97 Ratings
Score 9.1 out of 101

Kashflow

2 Ratings
Score 7.2 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

Kashflow

Perfect for a SME, less so for larger companies with a lot of staff. A reliable application, with few outages and easy to learn how to use for a variety of staff in different positions. Mobile phone app has been bit of a disappointment. Management reporting functionality could be improved.
No photo available

Feature Rating Comparison

Payroll Management

Accounting by Wave
7.9
Kashflow
6.2
Pay calculation
Accounting by Wave
8.4
Kashflow
7.0
Benefit plan administration
Accounting by Wave
7.5
Kashflow
6.0
Direct deposit files
Accounting by Wave
8.0
Kashflow
6.0
Salary revision and increment management
Accounting by Wave
7.7
Kashflow
6.0
Reimbursement management
Accounting by Wave
8.0
Kashflow
6.0

Customization

Accounting by Wave
9.1
Kashflow
5.5
API for custom integration
Accounting by Wave
8.9
Kashflow
6.0
Plug-ins
Accounting by Wave
9.2
Kashflow
5.0

Security

Accounting by Wave
8.6
Kashflow
6.0
Single sign-on capability
Accounting by Wave
9.0
Kashflow
6.0
Role-based user permissions
Accounting by Wave
8.2
Kashflow
6.0

Reporting & Analytics

Accounting by Wave
8.5
Kashflow
5.3
Dashboards
Accounting by Wave
8.5
Kashflow
6.0
Standard reports
Accounting by Wave
8.3
Kashflow
5.0
Custom reports
Accounting by Wave
8.6
Kashflow
5.0

General Ledger and Configurable Accounting

Accounting by Wave
8.2
Kashflow
6.3
Accounts payable
Accounting by Wave
8.5
Kashflow
7.0
Accounts receivable
Accounting by Wave
9.2
Kashflow
7.0
Cash management
Accounting by Wave
8.2
Kashflow
7.0
Bank reconciliation
Accounting by Wave
7.8
Kashflow
7.0
Expense management
Accounting by Wave
8.6
Kashflow
8.0
Time tracking
Accounting by Wave
7.3
Kashflow
Fixed asset management
Accounting by Wave
6.2
Kashflow
3.0
Multi-currency support
Accounting by Wave
8.6
Kashflow
7.0
Multi-division support
Accounting by Wave
7.6
Kashflow
7.0
Regulations compliance
Accounting by Wave
7.3
Kashflow
6.0
Electronic tax filing
Accounting by Wave
6.0
Kashflow
Self-service portal
Accounting by Wave
9.1
Kashflow
Global Financial Support
Accounting by Wave
9.0
Kashflow
Primary and Secondary Ledgers
Accounting by Wave
9.3
Kashflow
Intercompany Accounting
Accounting by Wave
8.7
Kashflow
Localizations
Accounting by Wave
9.5
Kashflow
6.0
Journals and Reconciliations
Accounting by Wave
8.4
Kashflow
6.0
Enterprise Accounting
Accounting by Wave
8.7
Kashflow
6.0
Configurable Accounting
Accounting by Wave
8.5
Kashflow
6.0
Centralized Rules Framework
Accounting by Wave
9.0
Kashflow
6.0
Standardized Processes
Accounting by Wave
7.9
Kashflow
5.0

Inventory Management

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

Order Management

Accounting by Wave
7.9
Kashflow
6.0
Pricing
Accounting by Wave
8.3
Kashflow
Order entry
Accounting by Wave
8.3
Kashflow
Credit card processing
Accounting by Wave
9.1
Kashflow
6.0
Cost of goods sold
Accounting by Wave
8.9
Kashflow
6.0
Order Orchestration
Accounting by Wave
8.0
Kashflow
End-to-end order visibility
Accounting by Wave
4.7
Kashflow
Order exception Resolution
Accounting by Wave
8.0
Kashflow
6.0

Accounting Firm BPO Features

Accounting by Wave
8.0
Kashflow
6.2
Branded client dashboards
Accounting by Wave
8.0
Kashflow
7.0
Client data roll-up capabilities
Accounting by Wave
8.0
Kashflow
7.0
Client data consolidation for benchmarking
Accounting by Wave
7.5
Kashflow
6.0
Configurable alerts
Accounting by Wave
8.0
Kashflow
6.0
Billing bypass
Accounting by Wave
8.0
Kashflow
6.0
Client template cloning
Accounting by Wave
8.0
Kashflow
6.0
Single sign-on
Accounting by Wave
9.0
Kashflow
6.0
Configurable client onboarding questions
Accounting by Wave
8.0
Kashflow
6.0
Cross-client workflow management
Accounting by Wave
8.0
Kashflow
6.0
Industry-specific versioning
Accounting by Wave
8.0
Kashflow
6.0
Legacy system data migration
Accounting by Wave
8.0
Kashflow
6.0

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
  • Ease of entering purchase data.
  • Ease of creating quotes and invoices.
  • Email integration.
No photo available

Cons

  • connection to bank sometimes lags - you can refresh the connection but it takes a minute or two to update
  • sometimes invoices are categorized as sales versus consulting income - you really have to look and change it to the appropriate income account. once an invoice is recorded as paid, you can change the income account
  • Wave has a tendency of not accepting a saved password, forcing users to reset a password that is knowingly valid. Using Single Sign On eliminates this but it's still annoying.
Kristy Nittskoff profile photo
  • Can be difficult to find information within the application.
  • Some of the reporting functionality is weak.
  • Functionality for financial planning could be significantly improved upon.
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
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

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
We received an offer for a discounted license for initial use and pretty much got so used to Kashflow, that we have continued with it. There are some frustrations with it, in particular the ability to search and find information. The reporting functionality is also a bit of a disappointment. However, easy for day to day use for the staff and just about sufficient for monthly planning. Some of the integrations like Payroll are not bad.
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

  • Keeps me up to date for taxing purposes
Torrey Holman profile photo
  • Reliable system
  • Minimizes time spent training staff in use
  • Good for cash position management
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

Kashflow

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