Microsoft Dynamics AX, discontinued vs. Wave Accounting

Overview
ProductRatingMost Used ByProduct SummaryStarting Price
Microsoft Dynamics AX, discontinued
Score 8.0 out of 10
N/A
Microsoft Dynamics 365 for Finance and Operations (or Dynamics AX) was an ERP product in the Dynamics family. It has been split into separate Dynamics 365 products to provide more flexibility to customers, allowing users to pay only for the functionality they need. Microsoft Dynamics AX will reach end of support in 2021, and end of extended support in 2023. Financial tracking and budgeting features are now found in the newly launchedN/A
Wave Accounting
Score 6.0 out of 10
N/A
Wave Accounting is a free, cloud-based accounting platform exclusively for small businesses. It supports double-entry bookkeeping and permits unlimited user access, invoicing, and expense management. Wave Accounting integrates with Wave's invoicing, receipt scanning, payment processing and payroll apps.N/A
Pricing
Microsoft Dynamics AX, discontinuedWave Accounting
Editions & Modules
No answers on this topic
No answers on this topic
Offerings
Pricing Offerings
Microsoft Dynamics AX, discontinuedWave Accounting
Free Trial
NoNo
Free/Freemium Version
NoNo
Premium Consulting/Integration Services
NoNo
Entry-level Setup FeeNo setup feeNo setup fee
Additional Details
More Pricing Information
Community Pulse
Microsoft Dynamics AX, discontinuedWave Accounting
Top Pros
Top Cons
Features
Microsoft Dynamics AX, discontinuedWave Accounting
Payroll Management
Comparison of Payroll Management features of Product A and Product B
Microsoft Dynamics AX, discontinued
8.8
8 Ratings
20% above category average
Wave Accounting
6.2
24 Ratings
19% below category average
Pay calculation9.07 Ratings7.123 Ratings
Benefit plan administration9.05 Ratings7.54 Ratings
Direct deposit files8.05 Ratings1.220 Ratings
Salary revision and increment management00 Ratings7.712 Ratings
Reimbursement management00 Ratings7.48 Ratings
Customization
Comparison of Customization features of Product A and Product B
Microsoft Dynamics AX, discontinued
7.0
13 Ratings
3% below category average
Wave Accounting
8.5
13 Ratings
19% above category average
API for custom integration5.013 Ratings9.99 Ratings
Plug-ins8.912 Ratings7.011 Ratings
Security
Comparison of Security features of Product A and Product B
Microsoft Dynamics AX, discontinued
6.0
14 Ratings
30% below category average
Wave Accounting
9.5
43 Ratings
19% above category average
Single sign-on capability5.113 Ratings9.730 Ratings
Role-based user permissions7.014 Ratings9.334 Ratings
Reporting & Analytics
Comparison of Reporting & Analytics features of Product A and Product B
Microsoft Dynamics AX, discontinued
8.3
14 Ratings
18% above category average
Wave Accounting
8.2
70 Ratings
8% above category average
Dashboards9.012 Ratings9.368 Ratings
Standard reports7.014 Ratings9.467 Ratings
Custom reports9.014 Ratings5.734 Ratings
General Ledger and Configurable Accounting
Comparison of General Ledger and Configurable Accounting features of Product A and Product B
Microsoft Dynamics AX, discontinued
8.2
15 Ratings
7% above category average
Wave Accounting
6.8
73 Ratings
9% below category average
Accounts payable7.015 Ratings9.356 Ratings
Accounts receivable7.014 Ratings9.567 Ratings
Global Financial Support8.06 Ratings9.02 Ratings
Primary and Secondary Ledgers9.07 Ratings7.04 Ratings
Journals and Reconciliations7.010 Ratings6.228 Ratings
Configurable Accounting9.08 Ratings5.516 Ratings
Standardized Processes8.99 Ratings4.317 Ratings
Cash management00 Ratings9.359 Ratings
Bank reconciliation00 Ratings9.563 Ratings
Expense management00 Ratings9.561 Ratings
Time tracking00 Ratings9.411 Ratings
Fixed asset management00 Ratings9.412 Ratings
Multi-currency support00 Ratings10.019 Ratings
Multi-division support00 Ratings7.19 Ratings
Regulations compliance00 Ratings6.815 Ratings
Electronic tax filing00 Ratings5.914 Ratings
Self-service portal00 Ratings1.739 Ratings
Intercompany Accounting00 Ratings4.05 Ratings
Localizations00 Ratings5.23 Ratings
Enterprise Accounting00 Ratings4.07 Ratings
Centralized Rules Framework00 Ratings1.03 Ratings
Inventory Management
Comparison of Inventory Management features of Product A and Product B
Microsoft Dynamics AX, discontinued
8.7
13 Ratings
10% above category average
Wave Accounting
8.1
11 Ratings
14% above category average
Inventory tracking8.013 Ratings5.68 Ratings
Automatic reordering9.011 Ratings9.95 Ratings
Location management9.011 Ratings8.12 Ratings
Manufacturing module00 Ratings9.01 Ratings
Order Management
Comparison of Order Management features of Product A and Product B
Microsoft Dynamics AX, discontinued
7.6
13 Ratings
2% below category average
Wave Accounting
7.6
52 Ratings
2% above category average
Pricing8.012 Ratings9.926 Ratings
Order entry9.011 Ratings10.018 Ratings
Credit card processing3.09 Ratings2.345 Ratings
Cost of goods sold8.010 Ratings10.033 Ratings
Order Orchestration9.05 Ratings5.85 Ratings
End-to-end order visibility00 Ratings8.24 Ratings
Order exception Resolution00 Ratings7.02 Ratings
Subledger and Financial Process
Comparison of Subledger and Financial Process features of Product A and Product B
Microsoft Dynamics AX, discontinued
8.7
10 Ratings
16% above category average
Wave Accounting
-
Ratings
Billing Management8.99 Ratings00 Ratings
Cash and Asset Management8.010 Ratings00 Ratings
Travel & Expense Management8.97 Ratings00 Ratings
Budgetary Control & Encumbrance Accounting8.97 Ratings00 Ratings
Period Close8.07 Ratings00 Ratings
Project Financial Management
Comparison of Project Financial Management features of Product A and Product B
Microsoft Dynamics AX, discontinued
8.9
7 Ratings
16% above category average
Wave Accounting
-
Ratings
Budgeting and Forecasting9.06 Ratings00 Ratings
Project Costing8.06 Ratings00 Ratings
Cost Capture8.05 Ratings00 Ratings
Capital Project Management9.05 Ratings00 Ratings
Customer Contract Compliance9.03 Ratings00 Ratings
Project Revenue Recognition8.95 Ratings00 Ratings
Project Execution Management
Comparison of Project Execution Management features of Product A and Product B
Microsoft Dynamics AX, discontinued
8.8
5 Ratings
25% above category average
Wave Accounting
-
Ratings
Project Planning and Scheduling8.95 Ratings00 Ratings
Task Insight for Project Managers9.04 Ratings00 Ratings
Project Mobile Functionality6.04 Ratings00 Ratings
Definable Resource Pools9.04 Ratings00 Ratings
Grants Management
Comparison of Grants Management features of Product A and Product B
Microsoft Dynamics AX, discontinued
8.7
4 Ratings
14% above category average
Wave Accounting
-
Ratings
Award Lifecycle Management9.04 Ratings00 Ratings
Procurement
Comparison of Procurement features of Product A and Product B
Microsoft Dynamics AX, discontinued
8.7
7 Ratings
22% above category average
Wave Accounting
-
Ratings
Bids Analyzed and Compared9.05 Ratings00 Ratings
Contract Authoring9.03 Ratings00 Ratings
Contract Repository9.04 Ratings00 Ratings
Requisitions-to-Purchase Orders Integrated8.05 Ratings00 Ratings
Supplier Management8.06 Ratings00 Ratings
Risk Management
Comparison of Risk Management features of Product A and Product B
Microsoft Dynamics AX, discontinued
8.8
2 Ratings
30% above category average
Wave Accounting
-
Ratings
Risk Repository9.02 Ratings00 Ratings
Control Management9.02 Ratings00 Ratings
Control Efficiency Assessments9.02 Ratings00 Ratings
Issue Detection9.02 Ratings00 Ratings
Remediation and Certification9.02 Ratings00 Ratings
Logistics
Comparison of Logistics features of Product A and Product B
Microsoft Dynamics AX, discontinued
8.5
6 Ratings
21% above category average
Wave Accounting
-
Ratings
Transportation Planning and Optimization8.06 Ratings00 Ratings
Transportation Execution Management8.05 Ratings00 Ratings
Trade and Customs Management8.95 Ratings00 Ratings
Fulfillment Management8.04 Ratings00 Ratings
Warehouse Workforce Management10.05 Ratings00 Ratings
Manufacturing
Comparison of Manufacturing features of Product A and Product B
Microsoft Dynamics AX, discontinued
7.7
6 Ratings
2% above category average
Wave Accounting
-
Ratings
Production Process Design9.05 Ratings00 Ratings
Production Management8.05 Ratings00 Ratings
Configuration Management7.04 Ratings00 Ratings
Work Execution8.05 Ratings00 Ratings
Manufacturing Costs9.05 Ratings00 Ratings
Supply Chain
Comparison of Supply Chain features of Product A and Product B
Microsoft Dynamics AX, discontinued
9.2
6 Ratings
24% above category average
Wave Accounting
-
Ratings
Forecasting9.95 Ratings00 Ratings
Inventory Planning9.05 Ratings00 Ratings
Performance Monitoring9.04 Ratings00 Ratings
Product Lifecycle Management
Comparison of Product Lifecycle Management features of Product A and Product B
Microsoft Dynamics AX, discontinued
9.0
3 Ratings
21% above category average
Wave Accounting
-
Ratings
Proposal Management9.02 Ratings00 Ratings
Product Master Data Management9.03 Ratings00 Ratings
Best Alternatives
Microsoft Dynamics AX, discontinuedWave Accounting
Small Businesses
Acumatica
Acumatica
Score 8.7 out of 10
Dext Prepare (with Receipt Bank)
Dext Prepare (with Receipt Bank)
Score 9.1 out of 10
Medium-sized Companies
Infor VISUAL
Infor VISUAL
Score 7.4 out of 10
Accounting Seed
Accounting Seed
Score 8.3 out of 10
Enterprises
SAP Business ByDesign
SAP Business ByDesign
Score 7.5 out of 10
Oracle Fusion Cloud ERP
Oracle Fusion Cloud ERP
Score 8.2 out of 10
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User Ratings
Microsoft Dynamics AX, discontinuedWave Accounting
Likelihood to Recommend
8.0
(19 ratings)
3.6
(79 ratings)
Likelihood to Renew
8.0
(4 ratings)
7.8
(3 ratings)
Usability
8.0
(3 ratings)
6.2
(15 ratings)
Availability
7.0
(1 ratings)
6.7
(4 ratings)
Performance
7.0
(1 ratings)
2.9
(2 ratings)
Support Rating
8.0
(3 ratings)
2.5
(12 ratings)
In-Person Training
9.0
(1 ratings)
-
(0 ratings)
Online Training
8.0
(1 ratings)
4.7
(3 ratings)
Implementation Rating
7.3
(2 ratings)
-
(0 ratings)
Product Scalability
-
(0 ratings)
3.0
(2 ratings)
User Testimonials
Microsoft Dynamics AX, discontinuedWave Accounting
Likelihood to Recommend
Microsoft
It integrates fully with the other Microsoft software we use daily, and this coordination speeds up our work and gives us the agility to run easily. For example, in a purchase inquiry, the customer, after submitting a request, identifies the teams that should work on the project, and if they need further review by other people, they are added to the process, and everything is managed seamlessly rather than the sales process. Get the result as fast as possible.
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Wave
Wave Accounting was used for a small practice without a lot of the accounting considerations a large company would have. For the price, you really can't beat what Wave offers out of the box. All of the basic tools for things like invoicing and expenses are all easy to use. End of year accounting is easy with exports of data.
Read full review
Pros
Microsoft
  • Microsoft Dynamics AX's scalability to meet our regional office needs provide flexibility to the team's requirements.
  • Combined with Citrix Xenapp, the application offers seamless access for users on high latency unreliable network connection to the application.
  • Application maintenance and updates are easy which makes it possible for us to manage remotely considering the servers are located in a remote Asia site.
Read full review
Wave
  • Reconciliation is very difficult with multiple Wave transactions that need to be deleted or merged before it can be matched to a bank transaction.
  • Payroll worked fine for us but took several days to get it set up. We have switched to another bookkeeping system and another payroll system. Canceling with Wave took several days and they charge $6 for something even though the month was paid for in advance.
  • Credit card processing is nice and worked fine for us.
Read full review
Cons
Microsoft
  • MRP can be slow to adapt to changes in actual production or supply chain transactions.
  • Setting up number sequences seems a trivial matter, but these numbers ID transactions once they are in the ledger and are key--easy to miss this point in the implementation process.
  • Bank rec being easily automated and able to quickly plug into a bank back end to get data is not the best.
  • Payment processing can be 'clunky' based on checks, ACH, Wires...as some of these items are not triggered out of the box in AX, bur are easily added --talking ACH and Wires specifically.
Read full review
Wave
  • I know that credit card processing is a way for Wave to make money, but I really wish they offered ACH payment on Invoices.
  • I do cash-based accounting, which means I have to make little journal entries at the start and end of each year to get my books to balance because Wave wants to do everything differently. This should just be a setting to flip, whether you want cash-based or accrual-based.
  • They use Yodlee for bank connection, which doesn't play nice with 2FA. Pretty much every time I log in I have to re-enter credentials, get a code sent to me, reauthenticate, and know that I'm going to have to do it again next week. Not really on Wave, but wish they could get it together nonetheless.
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Likelihood to Renew
Microsoft
Microsoft Dynamics continues to evolve by bringing more functionality to the customer. Also there are several independent software providers that offer a wide range of solutions for vertical markets.
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Wave
Easy to use for clients with no accounting background and the price is right.
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Usability
Microsoft
Overall the product does what we need it to do in order for us to function as a company. While there are some concerns over ongoing costs, the belief is, once we have it fully acclimated to our business the cost should settle into alignment with our original expectations. The new features that are consistently being added do add value to the product as they are usually customer request directed.
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Wave
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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Reliability and Availability
Microsoft
Some integration and high volume ramping challenges, particularly with BizTalk and SQL Server, but getting sorted out. Outages over time appeared to be more dependent on integration complexity than AX MES.
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Wave
WAVE is always available when we need it ! Peter
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Performance
Microsoft
Some integration and high volume ramping challenges, particularly with BizTalk and SQL Server, but getting sorted out. Outages over time appeared to be more dependent on integration complexity than AX MES.
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Wave
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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Support Rating
Microsoft
We use a 3rd-party Microsoft Partner for the system. They are responsive and very knowledgeable. While costs have been mentioned several times in this review they are very aware of costs and have developers who are more economical they use to help offset the level of work required to meet our changes and fix our issues.
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Wave
I never had to call Wave Support as we barely experienced any support-related problems on our side. However, I do know a few people that complained about Wave support. It would be nice as well, though if they could have more in your face tutorials for new users or how-to videos should we struggle to do something
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In-Person Training
Microsoft
It took a lot of work, but Microsoft ultimately did a good job with in-person training, including being onsite in multiple global locations for extended periods.
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Wave
No answers on this topic
Online Training
Microsoft
Our solution deviated from a number of key out-of-the-box standards that were included in Online training. We just used that for introduction to the general functionality.
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Wave
easy to use and east to train on ! Our WAVE clients enjoy the ease of use
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Implementation Rating
Microsoft
Some rough spots, but ultimately worked out. The contract didn't appear to be structured to support the level of overlapping facility deployments required to meet timeline commitments. Merging cultures on the program was also challenging. Overall, not an easy implementation by any stretch. Everyone did the best they could.
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Wave
No answers on this topic
Alternatives Considered
Microsoft
I was not part of the decision making process to select Microsoft Dynamics AX, however, I do know that an exhaustive search was done and many options were considered alongside Microsoft Dynamics AX and I feel that the right decision was made in choosing this solution.
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Wave
Wave is FREE for most functions. Payment processing costs no matter where you go (as does payroll or taxes). Wave rises above tools like QuickBooks Online because they know that for our small firm, being nimble is the name of the game. We don't need exhaustive reporting and management like QB offers and we certainly don't want to pay for it
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Scalability
Microsoft
No answers on this topic
Wave
Once they out grow what is ability to move up to a more robust system?
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Return on Investment
Microsoft
  • With the robust built-in reporting we were able to drop an external reporting platform that costed about $40,000.
  • API integrations have saved manual entry and reduced having to hire 2-3 people to manage data.
  • Several administrators and developers are required for this which costs about 200-300 thousand in employee costs.
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Wave
  • 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.
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