What users are saying about

Accounting by Wave

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Top Rated
102 Ratings
2 Ratings

Accounting by Wave

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Top Rated
102 Ratings
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Score 9.1 out of 101
2 Ratings
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Score 7.1 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

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
8.3
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
9.0
Kashflow
5.5
API for custom integration
Accounting by Wave
8.9
Kashflow
6.0
Plug-ins
Accounting by Wave
9.1
Kashflow
5.0

Security

Accounting by Wave
8.6
Kashflow
6.0
Single sign-on capability
Accounting by Wave
9.1
Kashflow
6.0
Role-based user permissions
Accounting by Wave
8.1
Kashflow
6.0

Reporting & Analytics

Accounting by Wave
8.4
Kashflow
5.3
Dashboards
Accounting by Wave
8.4
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
8.6
Kashflow
7.0
Accounts receivable
Accounting by Wave
9.2
Kashflow
7.0
Cash management
Accounting by Wave
8.0
Kashflow
7.0
Bank reconciliation
Accounting by Wave
7.8
Kashflow
7.0
Expense management
Accounting by Wave
8.5
Kashflow
8.0
Time tracking
Accounting by Wave
7.3
Kashflow
Fixed asset management
Accounting by Wave
6.3
Kashflow
3.0
Multi-currency support
Accounting by Wave
8.5
Kashflow
7.0
Multi-division support
Accounting by Wave
7.5
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
9.0
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
8.1
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
8.0
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
8.8
Kashflow
6.0
Order Orchestration
Accounting by Wave
8.0
Kashflow
End-to-end order visibility
Accounting by Wave
4.8
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 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
  • Ease of entering purchase data.
  • Ease of creating quotes and invoices.
  • Email integration.
No photo available

Cons

  • My biggest request is that they add a way to link invoice payments with the bank deposits . When a payment is made through Wave, they show the income and it is marked with the invoice number, but when they transfer the money into the bank, the credit is not tied to the invoice(s). You have to figure out by hand and delete the transaction from the bank to prevent getting double credit on it
  • It would be good to have a field for CC email on each customer. Currently you have to add any CC when sending.
  • On the Transactions view, a few more search options would be helpful.
No photo available
  • 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

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
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
Wave is very easy for the small business owner to use but it has enough features to keep accountants happy.
Elaine Orr Morgan 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

  • 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
  • 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