What users are saying about

Accounting by Wave

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Top Rated
102 Ratings
5 Ratings

Accounting by Wave

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Top Rated
102 Ratings
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Score 9.1 out of 101
5 Ratings
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Score 9.8 out of 101

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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

Kashoo

It is great for a small company or sole proprietorship. It is simple and easy and allows you to do your bookkeeping without taking too much of your time. It would not be ideal for a company that needs to track inventory.
William Steen profile photo

Feature Rating Comparison

Payroll Management

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

Customization

Accounting by Wave
9.0
Kashoo
10.0
API for custom integration
Accounting by Wave
8.9
Kashoo
10.0
Plug-ins
Accounting by Wave
9.1
Kashoo
10.0

Security

Accounting by Wave
8.6
Kashoo
10.0
Single sign-on capability
Accounting by Wave
9.1
Kashoo
10.0
Role-based user permissions
Accounting by Wave
8.1
Kashoo
10.0

Reporting & Analytics

Accounting by Wave
8.4
Kashoo
10.0
Dashboards
Accounting by Wave
8.4
Kashoo
10.0
Standard reports
Accounting by Wave
8.3
Kashoo
10.0
Custom reports
Accounting by Wave
8.6
Kashoo
10.0

General Ledger and Configurable Accounting

Accounting by Wave
8.2
Kashoo
9.9
Accounts payable
Accounting by Wave
8.6
Kashoo
10.0
Accounts receivable
Accounting by Wave
9.2
Kashoo
10.0
Cash management
Accounting by Wave
8.0
Kashoo
10.0
Bank reconciliation
Accounting by Wave
7.8
Kashoo
9.0
Expense management
Accounting by Wave
8.5
Kashoo
10.0
Time tracking
Accounting by Wave
7.3
Kashoo
10.0
Fixed asset management
Accounting by Wave
6.3
Kashoo
Multi-currency support
Accounting by Wave
8.5
Kashoo
Multi-division support
Accounting by Wave
7.5
Kashoo
Regulations compliance
Accounting by Wave
7.3
Kashoo
Electronic tax filing
Accounting by Wave
6.0
Kashoo
Self-service portal
Accounting by Wave
9.0
Kashoo
Global Financial Support
Accounting by Wave
9.0
Kashoo
Primary and Secondary Ledgers
Accounting by Wave
9.3
Kashoo
Intercompany Accounting
Accounting by Wave
8.7
Kashoo
Localizations
Accounting by Wave
9.5
Kashoo
Journals and Reconciliations
Accounting by Wave
8.1
Kashoo
10.0
Enterprise Accounting
Accounting by Wave
8.7
Kashoo
Configurable Accounting
Accounting by Wave
8.5
Kashoo
Centralized Rules Framework
Accounting by Wave
9.0
Kashoo
Standardized Processes
Accounting by Wave
8.0
Kashoo

Inventory Management

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

Order Management

Accounting by Wave
7.9
Kashoo
10.0
Pricing
Accounting by Wave
8.3
Kashoo
10.0
Order entry
Accounting by Wave
8.3
Kashoo
10.0
Credit card processing
Accounting by Wave
9.1
Kashoo
Cost of goods sold
Accounting by Wave
8.8
Kashoo
10.0
Order Orchestration
Accounting by Wave
8.0
Kashoo
End-to-end order visibility
Accounting by Wave
4.8
Kashoo
Order exception Resolution
Accounting by Wave
8.0
Kashoo

Accounting Firm BPO Features

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

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
  • Invoicing - I can create an invoice and email it directly from within Kashoo. When a payment is received, it is simple to enter the transaction and mark it as paid.
  • Projects - I can assign a Project to a transaction. This way I can get a detailed picture of a specific project on which we are working. I can run a P&L report of just that project or the whole company.
  • Reconcile - Reconciling is a snap when you connect the account to the bank online.
  • If you are doing bookkeeping for more than one company, Kashoo has support for that. You can easily switch between companies as needed.
William Steen profile photo

Cons

  • I've not run into anything as of yet I'd like to see improved or added
Torrey Holman profile photo
  • If a credit card has multiple cards associated with it, for example, several employees have cards that link to the main account, Kashoo does not have a way to track those cards individually yet still associate it to the main parent account. To be fair, I have not found a bookkeeping software that does this properly.
  • The transaction search is a little funky. Sometimes I have to type in the complete word to find something, otherwise, it won't display the results I expect. I have only had this issue a few times, but it consistently happens for those specific searches.
  • Kashoo does not track inventory.
William Steen 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
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'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
Kashoo works well and has all the features I need. Wave does not allow for reconciliation and does not do reporting. QuickBooks Online is very expensive and does not have all the features that Kashoo has.
William Steen profile photo

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
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

  • Increased staff efficiencies
  • Increased customer service
Randy O'Malley profile photo
  • Kashoo has allowed me to be on top of my bookkeeping without having to hire a separate bookkeeper.
William Steen profile photo

Pricing Details

Accounting by Wave

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

Kashoo

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