Accounting by Wave vs Microsoft Dynamics 365

Accounting by Wave

Wave is an excellent option for small start-up businesses since it's a free application, comparable to others like Xero & Quikbooks, and integrates with most major banks. Where I would see considering to move platforms is when you have more than 10 employees and multiple accounts to balance which at that point may be a good time to consult a book keeper and consider switching software if needed. Side note Wave offers a list of local bookkeeping professionals that work with Wave software in your area so you wouldn't have to change systems.

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Matthew Gehrman

Agency Principal

CityScape InsuranceInsurance, 1-10 employees

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Microsoft Dynamics 365

It is a strong product but you need to consider if it is a good fit for your environment and business. If you have a lot of Microsoft products and staff with these skills, it will be a good fit

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Reza Shirazi

Director Business Systems & PMO

CLEAResultOil & Energy, 501-1000 employees

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Feature Rating Comparison

Accounting by Wave

7.9

Microsoft Dynamics 365

—

Pay calculation

8.4

—

Benefit plan administration

7.5

—

Direct deposit files

8.0

—

Salary revision and increment management

7.7

—

Reimbursement management

8.0

—

Accounting by Wave

9.1

Microsoft Dynamics 365

8.1

API for custom integration

8.9

8.0

Plug-ins

9.2

—

Custom fields

—

8.2

Custom objects

—

8.3

Scripting environment

—

7.9

Accounting by Wave

8.6

Microsoft Dynamics 365

8.0

Single sign-on capability

9.0

7.9

Role-based user permissions

8.2

Accounting by Wave

8.5

Microsoft Dynamics 365

—

Dashboards

8.5

—

Standard reports

8.3

—

Custom reports

8.6

—

Accounting by Wave

8.3

Microsoft Dynamics 365

—

Accounts payable

8.5

—

Accounts receivable

9.2

—

Cash management

8.2

—

Bank reconciliation

7.8

—

Expense management

8.6

—

Time tracking

7.3

—

Fixed asset management

6.2

—

Multi-currency support

8.5

—

Multi-division support

7.5

—

Regulations compliance

7.3

—

Electronic tax filing

6.0

—

Self-service portal

9.1

—

Global Financial Support

9.0

—

Primary and Secondary Ledgers

9.3

—

Intercompany Accounting

8.7

—

Localizations

9.5

—

Journals and Reconciliations

8.4

—

Enterprise Accounting

8.7

—

Configurable Accounting

8.5

—

Centralized Rules Framework

9.0

—

Standardized Processes

7.9

—

Accounting by Wave

8.9

Microsoft Dynamics 365

—

Inventory tracking

9.5

—

Automatic reordering

8.0

—

Location management

9.0

—

Manufacturing module

9.0

—

Accounting by Wave

7.9

Microsoft Dynamics 365

—

Pricing

8.3

—

Order entry

8.3

—

Credit card processing

9.1

—

Cost of goods sold

8.9

—

Order Orchestration

8.0

—

End-to-end order visibility

4.7

—

Order exception Resolution

8.0

—

Accounting by Wave

8.0

Microsoft Dynamics 365

—

Branded client dashboards

8.0

—

Client data roll-up capabilities

8.0

—

Client data consolidation for benchmarking

7.5

—

Configurable alerts

8.0

—

Billing bypass

8.0

—

Client template cloning

8.0

—

Single sign-on

9.0

—

Configurable client onboarding questions

8.0

—

Cross-client workflow management

8.0

—

Industry-specific versioning

8.0

—

Legacy system data migration

8.0

—

Accounting by Wave

—

Microsoft Dynamics 365

7.6

Customer data management / contact management

—

7.5

Workflow management

—

7.8

Territory management

—

7.9

Opportunity management

—

7.9

Integration with email client (e.g., Outlook or Gmail)

—

7.3

Contract management

—

7.4

Quote & order management

—

7.0

Interaction tracking

—

8.0

Channel / partner relationship management

—

7.7

Accounting by Wave

—

Microsoft Dynamics 365

7.4

Case management

—

7.8

Call center management

—

7.4

Help desk management

—

7.0

Accounting by Wave

—

Microsoft Dynamics 365

6.9

Lead management

—

7.0

Email marketing

—

6.9

Accounting by Wave

—

Microsoft Dynamics 365

7.1

Task management

—

7.7

Billing and invoicing management

—

7.2

Reporting

—

6.5

Accounting by Wave

—

Microsoft Dynamics 365

7.2

Forecasting

—

6.7

Pipeline visualization

—

7.7

Customizable reports

—

7.1

Accounting by Wave

—

Microsoft Dynamics 365

7.4

Social data

—

7.2

Social engagement

—

7.5

Accounting by Wave

—

Microsoft Dynamics 365

7.5

Marketing automation

—

7.5

Compensation management

—

7.4

Accounting by Wave

—

Microsoft Dynamics 365

7.3

Mobile access

—

7.3

Pros

Wave is a wonderful integrated solution offering invoicing, bookkeeping, and cash flow analysis along with bank integration that auto updates.
Wave is a payment solution provider with an industry standard rate of 2.9ish% for credit card transactions and provides a good analysis for me as to when I typically get paid.
Wave pulls common data for me in building a customized branded invoice, allowing me to make the invoice process faster by adding repeat customers and listing my graphic design services.

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Carl Grivakis

Business Owner, Graphic Designer, Visual Design Mentor

Holy Carp DesignProfessional Training & Coaching, 1-10 employees

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User Friendly for a call center platform.
Integration with Outlook helps tremendously.
Ability to customize views to your needs is a big plus.

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Verified User

Manager in Other

201-500 employees

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Cons

I've not run into anything as of yet I'd like to see improved or added

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Torrey Holman

Independent Contractor/Freelancer

Self EmployedWriting and Editing, 1-10 employees

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Ability for detailed reporting is still an issue to me.
Interface is not friendly when outlook is not used, which makes it difficult to use.
Checkpoints for errors need to be adjusted and more robust so the errors are minimized.

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Verified User

Manager in Other

201-500 employees

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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.

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Jeanne Harris

President

AST Business Solutions Inc.Accounting, 1-10 employees

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Microsoft Dynamics 3657.9

Based on 19 answers

Over all it is a great product for tracking the status of customers, sales and invoices. You can see how your sales guys are doing and compare against other sales people in different regions of the company.

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Wendy Smith

Sales Analyst

NORMA Group1001-5000 employees

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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

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Melissa Whaley

Owner

Melissa Whaley Tax and BookkeepingAccounting, 1-10 employees

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Microsoft Dynamics 3658.0

Based on 5 answers

The interface is somewhat clunky and has lots of noise. Navigating around is not that simple and takes some getting used to. I think there are improvements to this in the 2013 version

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Reza Shirazi

Director Business Systems & PMO

CLEAResultOil & Energy, 501-1000 employees

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Reliability and Availability

Accounting by Wave6.7

Based on 4 answers

WAVE is always available when we need it ! Peter

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Peter Cullen

Partner at Core Performance

CorelyticsAccounting, 1-10 employees

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No score

No answers yet

No answers on this topic

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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.

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Melissa Whaley

Owner

Melissa Whaley Tax and BookkeepingAccounting, 1-10 employees

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No score

No answers yet

No answers on this topic

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Support

Accounting by Wave9.0

Based on 1 answer

If they had live chat service then I'd rate this a 10.

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Matthew Gehrman

Agency Principal

CityScape InsuranceInsurance, 1-10 employees

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Microsoft Dynamics 36510.0

Based on 1 answer

Our partner, Ledgeview Partners has been FANTASTIC to work with. They are always timely in their response and have taken time to understand our business and our specific needs. We've made a lot of advanced customizations and they have been a great help in making those updates.

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Todd Jankowski

Marketing Specialist

ThyssenKrupp Rotek IncorporatedMechanical or Industrial Engineering, 201-500 employees

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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

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Peter Cullen

Partner at Core Performance

CorelyticsAccounting, 1-10 employees

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Microsoft Dynamics 3657.5

Based on 2 answers

No answer on this topic is available.

Implementation

No score

No answers yet

No answers on this topic

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Microsoft Dynamics 3659.2

Based on 4 answers

Highly recommended for any Sales Team that has 10 or more persons

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Chris Farias

Member

Delaware County Technical Schools Advisory CommitteeMechanical or Industrial Engineering, 51-200 employees

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Alternatives Considered

Wave accounting does not have as many features as Quickbooks or Sage 50 but it holds it's own with the market it serves. I use Wave primarily for the payroll functionality and i have recommended that clients who use Sage 50 or Quickbooks use Wave for it's payroll. The importing of the bank transactions is also a great feature but the other competitors have caught up to Wave on this feature. Overall it is a great tool, but only for the right type of client.

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Randy O'Malley

Partner

Yoannou & Associates CPAs LLPAccounting, 1-10 employees

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We are a Microsoft shop with a lot of Microsoft products. The key stakeholder in the business also had experience in working with Dynamics CRM in a prior job

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Reza Shirazi

Director Business Systems & PMO

CLEAResultOil & Energy, 501-1000 employees

View all 54 answers on this topic

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.

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Randy O'Malley

Partner

Yoannou & Associates CPAs LLPAccounting, 1-10 employees

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No score

No answers yet

No answers on this topic

Ask the community to sound off

Scalability

Accounting by Wave3.0

Based on 2 answers

Once they out grow what is ability to move up to a more robust system?

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Penny Breslin

Account Manager

FileThis, Inc.Accounting, 1-10 employees

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No score

No answers yet

No answers on this topic

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Return on Investment

Increased staff efficiencies
Increased customer service

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Randy O'Malley

Partner

Yoannou & Associates CPAs LLPAccounting, 1-10 employees

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Improved efficiency by integrating reporting through for account managers for analysis
Improved targeting
Improved customer service by providing better information within reach

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Nagish Khan

Information and Communicatino Technology Officer

Organization for Legal and Social Services (OLASS)Non-Profit Organization Management, 11-50 employees

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Pricing Details

Accounting by Wave

General

Free Trial

—

Free/Freemium Version

—

Premium Consulting/Integration Services

—

Entry-level set up fee?

No

Additional Pricing Details

—

Microsoft Dynamics 365

General

Free Trial

Yes

Free/Freemium Version

—

Premium Consulting/Integration Services

Yes

Entry-level set up fee?

No

Additional Pricing Details

—

Accounting by Wave vs Microsoft Dynamics 365

Accounting by Wave<a href='https://www.trustradius.com/static/about-trustradius-scoring' target='_blank' rel='nofollow'>Customer Verified: Read more.</a>

Microsoft Dynamics 365<a href='https://www.trustradius.com/static/about-trustradius-scoring' target='_blank' rel='nofollow'>Customer Verified: Read more.</a>

Accounting by Wave<a href='https://www.trustradius.com/static/about-trustradius-scoring' target='_blank' rel='nofollow'>Customer Verified: Read more.</a>

Microsoft Dynamics 365<a href='https://www.trustradius.com/static/about-trustradius-scoring' target='_blank' rel='nofollow'>Customer Verified: Read more.</a>

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Likelihood to Recommend

Accounting by Wave

Microsoft Dynamics 365

Feature Rating Comparison

Pay calculation

Benefit plan administration

Direct deposit files

Salary revision and increment management

Reimbursement management

API for custom integration

Plug-ins

Custom fields

Custom objects

Scripting environment

Single sign-on capability

Role-based user permissions

Dashboards

Standard reports

Custom reports

Accounts payable

Accounts receivable

Cash management

Bank reconciliation

Expense management

Time tracking

Fixed asset management

Multi-currency support

Multi-division support

Regulations compliance

Electronic tax filing

Self-service portal

Global Financial Support

Primary and Secondary Ledgers

Intercompany Accounting

Localizations

Journals and Reconciliations

Enterprise Accounting

Configurable Accounting

Centralized Rules Framework

Standardized Processes

Inventory tracking

Automatic reordering

Location management

Manufacturing module

Pricing

Order entry

Credit card processing

Cost of goods sold

Order Orchestration

End-to-end order visibility

Order exception Resolution

Branded client dashboards

Client data roll-up capabilities

Client data consolidation for benchmarking

Configurable alerts

Billing bypass

Client template cloning

Single sign-on

Configurable client onboarding questions

Cross-client workflow management

Industry-specific versioning

Legacy system data migration

Customer data management / contact management

Workflow management

Territory management

Opportunity management

Integration with email client (e.g., Outlook or Gmail)

Contract management

Quote & order management

Interaction tracking

Channel / partner relationship management

Case management

Call center management

Help desk management