What users are saying about

Accounting by Wave

Top Rated
97 Ratings

Microsoft Dynamics AX

Top Rated
100 Ratings

Accounting by Wave

Top Rated
97 Ratings
Score 9 out of 101

Microsoft Dynamics AX

Top Rated
100 Ratings
Score 7.6 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

Microsoft Dynamics AX

Microsoft Dynamics AX is suitable for medium to large organizations that are looking for an Enterprise Resource Planning solution that provides a single solution for managing multiple business processes and reporting and transaction requirements. Dynamics AX has proven to be a good solution for our wholesale business.
Caleb Unruh profile photo

Feature Rating Comparison

Payroll Management

Accounting by Wave
7.9
Microsoft Dynamics AX
8.3
Pay calculation
Accounting by Wave
8.4
Microsoft Dynamics AX
7.6
Benefit plan administration
Accounting by Wave
7.5
Microsoft Dynamics AX
7.2
Direct deposit files
Accounting by Wave
8.0
Microsoft Dynamics AX
8.1
Salary revision and increment management
Accounting by Wave
7.7
Microsoft Dynamics AX
10.0
Reimbursement management
Accounting by Wave
8.0
Microsoft Dynamics AX
8.6

Customization

Accounting by Wave
9.1
Microsoft Dynamics AX
8.2
API for custom integration
Accounting by Wave
8.9
Microsoft Dynamics AX
8.2
Plug-ins
Accounting by Wave
9.2
Microsoft Dynamics AX
8.2

Security

Accounting by Wave
8.6
Microsoft Dynamics AX
7.7
Single sign-on capability
Accounting by Wave
9.0
Microsoft Dynamics AX
8.3
Role-based user permissions
Accounting by Wave
8.2
Microsoft Dynamics AX
7.2

Reporting & Analytics

Accounting by Wave
8.5
Microsoft Dynamics AX
6.5
Dashboards
Accounting by Wave
8.4
Microsoft Dynamics AX
6.5
Standard reports
Accounting by Wave
8.3
Microsoft Dynamics AX
6.1
Custom reports
Accounting by Wave
8.6
Microsoft Dynamics AX
6.9

General Ledger and Configurable Accounting

Accounting by Wave
8.2
Microsoft Dynamics AX
7.8
Accounts payable
Accounting by Wave
8.4
Microsoft Dynamics AX
7.9
Accounts receivable
Accounting by Wave
9.1
Microsoft Dynamics AX
7.9
Cash management
Accounting by Wave
8.1
Microsoft Dynamics AX
Bank reconciliation
Accounting by Wave
7.8
Microsoft Dynamics AX
Expense management
Accounting by Wave
8.5
Microsoft Dynamics AX
Time tracking
Accounting by Wave
7.3
Microsoft Dynamics AX
Fixed asset management
Accounting by Wave
5.2
Microsoft Dynamics AX
Multi-currency support
Accounting by Wave
8.6
Microsoft Dynamics AX
Multi-division support
Accounting by Wave
7.4
Microsoft Dynamics AX
Regulations compliance
Accounting by Wave
7.3
Microsoft Dynamics AX
Electronic tax filing
Accounting by Wave
6.0
Microsoft Dynamics AX
Self-service portal
Accounting by Wave
9.1
Microsoft Dynamics AX
Global Financial Support
Accounting by Wave
9.0
Microsoft Dynamics AX
7.4
Primary and Secondary Ledgers
Accounting by Wave
9.3
Microsoft Dynamics AX
7.0
Intercompany Accounting
Accounting by Wave
8.7
Microsoft Dynamics AX
7.6
Localizations
Accounting by Wave
9.5
Microsoft Dynamics AX
6.0
Journals and Reconciliations
Accounting by Wave
8.4
Microsoft Dynamics AX
7.5
Enterprise Accounting
Accounting by Wave
8.7
Microsoft Dynamics AX
8.9
Configurable Accounting
Accounting by Wave
8.7
Microsoft Dynamics AX
8.3
Centralized Rules Framework
Accounting by Wave
9.0
Microsoft Dynamics AX
7.6
Standardized Processes
Accounting by Wave
7.9
Microsoft Dynamics AX
8.8

Inventory Management

Accounting by Wave
8.9
Microsoft Dynamics AX
8.0
Inventory tracking
Accounting by Wave
9.5
Microsoft Dynamics AX
8.9
Automatic reordering
Accounting by Wave
8.0
Microsoft Dynamics AX
8.3
Location management
Accounting by Wave
9.0
Microsoft Dynamics AX
8.0
Manufacturing module
Accounting by Wave
9.0
Microsoft Dynamics AX
6.8

Order Management

Accounting by Wave
7.8
Microsoft Dynamics AX
7.5
Pricing
Accounting by Wave
8.1
Microsoft Dynamics AX
7.9
Order entry
Accounting by Wave
8.0
Microsoft Dynamics AX
7.4
Credit card processing
Accounting by Wave
9.1
Microsoft Dynamics AX
7.4
Cost of goods sold
Accounting by Wave
8.8
Microsoft Dynamics AX
7.6
Order Orchestration
Accounting by Wave
8.0
Microsoft Dynamics AX
7.5
End-to-end order visibility
Accounting by Wave
4.7
Microsoft Dynamics AX
8.0
Order exception Resolution
Accounting by Wave
8.0
Microsoft Dynamics AX
6.4

Accounting Firm BPO Features

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

Subledger and Financial Process

Accounting by Wave
Microsoft Dynamics AX
7.6
Automated Invoice Processing
Accounting by Wave
Microsoft Dynamics AX
8.1
Shared Services Payments
Accounting by Wave
Microsoft Dynamics AX
7.4
Billings Management
Accounting by Wave
Microsoft Dynamics AX
7.7
Customer Receipt Applications
Accounting by Wave
Microsoft Dynamics AX
6.6
Customer Collections
Accounting by Wave
Microsoft Dynamics AX
7.6
Revenue Recognition
Accounting by Wave
Microsoft Dynamics AX
7.9
Cash Management
Accounting by Wave
Microsoft Dynamics AX
7.4
Asset Management
Accounting by Wave
Microsoft Dynamics AX
7.1
Travel & Expense Management
Accounting by Wave
Microsoft Dynamics AX
7.6
Budgetary Control & Encumbrance Accounting
Accounting by Wave
Microsoft Dynamics AX
6.6
Period Close
Accounting by Wave
Microsoft Dynamics AX
8.6
Transactions Tax
Accounting by Wave
Microsoft Dynamics AX
7.2
Subledger Reconciliations
Accounting by Wave
Microsoft Dynamics AX
9.0
3rd Party Accounting Systems
Accounting by Wave
Microsoft Dynamics AX
7.0

Project Financial Management

Accounting by Wave
Microsoft Dynamics AX
7.9
Budgeting and Forecasting
Accounting by Wave
Microsoft Dynamics AX
8.0
Project Costing
Accounting by Wave
Microsoft Dynamics AX
8.0
Cost Capture
Accounting by Wave
Microsoft Dynamics AX
9.0
Capital Project Management
Accounting by Wave
Microsoft Dynamics AX
7.5
Customer Invoicing
Accounting by Wave
Microsoft Dynamics AX
7.0

Project Execution Management

Accounting by Wave
Microsoft Dynamics AX
7.6
Project Planning and Scheduling
Accounting by Wave
Microsoft Dynamics AX
10.0
Project Manager Dashboard
Accounting by Wave
Microsoft Dynamics AX
9.0
Resource Manager Dashboard
Accounting by Wave
Microsoft Dynamics AX
9.0
Task Insight for Project Managers
Accounting by Wave
Microsoft Dynamics AX
8.0
Project Manager Mobile Functionality
Accounting by Wave
Microsoft Dynamics AX
8.0
Team Member Task Collaboration
Accounting by Wave
Microsoft Dynamics AX
6.0
Team Member Mobile Functionality
Accounting by Wave
Microsoft Dynamics AX
5.0
Project Candidate Search
Accounting by Wave
Microsoft Dynamics AX
8.0
Project Candidate Comparison and Analysis
Accounting by Wave
Microsoft Dynamics AX
7.0
Defineable Resource Pools
Accounting by Wave
Microsoft Dynamics AX
7.0
Defineable Resource Pools
Accounting by Wave
Microsoft Dynamics AX
7.0

Procurement

Accounting by Wave
Microsoft Dynamics AX
6.9
Sourcing Team Collaboration
Accounting by Wave
Microsoft Dynamics AX
8.0
Sourcing Analysis
Accounting by Wave
Microsoft Dynamics AX
8.0
Bids Analyzed and Compared
Accounting by Wave
Microsoft Dynamics AX
7.0
Catalog Shopping E-Commerce for Employees
Accounting by Wave
Microsoft Dynamics AX
6.0
Contract Compliance Management
Accounting by Wave
Microsoft Dynamics AX
5.0
Contract History
Accounting by Wave
Microsoft Dynamics AX
7.0
Contract Repository
Accounting by Wave
Microsoft Dynamics AX
5.0
Contract Standardization and Enforcement
Accounting by Wave
Microsoft Dynamics AX
8.0
Electronic Signatures
Accounting by Wave
Microsoft Dynamics AX
7.2
Invoice Automated Matching
Accounting by Wave
Microsoft Dynamics AX
8.0
Purchasing Risk and Compliance Management
Accounting by Wave
Microsoft Dynamics AX
6.2
Requisitions-to-Purchase Orders Integrated
Accounting by Wave
Microsoft Dynamics AX
7.2
Spend Compliance Management
Accounting by Wave
Microsoft Dynamics AX
6.0
Supplier Assessment
Accounting by Wave
Microsoft Dynamics AX
7.6
Supplier Communication and Collaboration
Accounting by Wave
Microsoft Dynamics AX
7.7
Supplier Management
Accounting by Wave
Microsoft Dynamics AX
7.0
Supplier Portal
Accounting by Wave
Microsoft Dynamics AX
7.0

Logistics

Accounting by Wave
Microsoft Dynamics AX
7.1
Transportation Planning and Optimization
Accounting by Wave
Microsoft Dynamics AX
7.0
Transportation Sourcing Management
Accounting by Wave
Microsoft Dynamics AX
7.0
Transportation Process Integration
Accounting by Wave
Microsoft Dynamics AX
7.0
Transportation Execution Management
Accounting by Wave
Microsoft Dynamics AX
6.0
Freight Payment Automation
Accounting by Wave
Microsoft Dynamics AX
6.0
Trade Management
Accounting by Wave
Microsoft Dynamics AX
7.0
Trade Regulatory Compliance Management
Accounting by Wave
Microsoft Dynamics AX
7.0
Customs Document Management
Accounting by Wave
Microsoft Dynamics AX
7.0
Fulfillment Management
Accounting by Wave
Microsoft Dynamics AX
8.0
Inventory Visibility
Accounting by Wave
Microsoft Dynamics AX
9.0
Warehouse Workforce Management
Accounting by Wave
Microsoft Dynamics AX
7.0

Manufacturing

Accounting by Wave
Microsoft Dynamics AX
7.0
Manufacturing Costs
Accounting by Wave
Microsoft Dynamics AX
7.0

Supply Chain

Accounting by Wave
Microsoft Dynamics AX
8.3
Forecasting
Accounting by Wave
Microsoft Dynamics AX
8.0
Inventory Planning
Accounting by Wave
Microsoft Dynamics AX
8.1
Multi-tier Supply Chain Planning
Accounting by Wave
Microsoft Dynamics AX
8.0
Performance Monitoring
Accounting by Wave
Microsoft Dynamics AX
9.0

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
  • Pricing: Microsoft Dynamics AX gives us good flexibility in how we price our products.
  • UX: Microsoft Dynamics AX has a good user interface to put valuable information on the screen for users.
  • Inventory Management: Microsoft Dynamics AX does a great job at giving us insight into our inventory.
Caleb Unruh profile photo

Cons

  • There are no preset date options for reports. It would be nice if you could select a quick option when running a report like "this month", "this quarter", "last month", "last quarter". It can bee a little cumbersome to manually enter the dates for a report especially when looking for previous years.
  • As a Wave Pro, I have clients who use Wave for Payroll. Under my "collaborator" access I cannot assist them with running payroll or view any payroll reports I have to use their personal login to access payroll. It would be nice to have an option to grant a collaborator more access including Payroll.
  • It would be really great to add a credit memo option. That way you could show that a client has a positive balance on their account. I know there are some funky work-arounds for this, but it's not worth the work to use them.
  • Bank reconciliation technically exists, but it's not intuitive for someone who is used to reconciling in a desktop software such as Quickbooks.
Melissa Whaley profile photo
  • Sales Ledger. Currently, the idea behind the sales ledger module is that the company prepares a sales order for another company. I would prefer the developers consider the scenario where a sales order is prepared for the same company but for another branch or unit.
  • Postings of issues items are currently possible but none of the modules caters to "departmental material or item request". Further tweaks have been done on our Project Module to cater for this but it's not entirely perfect. This will enable aid in cost allocation per departmental request of materials or items.
  • Challenges with the bank module - does not allow for easily reconciliation as the statement from the banks can not be uploaded except for specific format.
Felix Adusei Tuffour 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
Microsoft Dynamics AX8.0
Based on 4 answers
Likely to renew use as we are in the process of upgrading.
No photo available

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
Microsoft Dynamics AX9.0
Based on 1 answer
Dynamics AX MES is a good product, once deployed and stable, much easier to manage for the operationally than legacy systems.
No photo available

Reliability and Availability

Accounting by Wave6.7
Based on 4 answers
WAVE is always available when we need it ! Peter
Peter Cullen profile photo
Microsoft Dynamics AX7.0
Based on 1 answer
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.
No photo available

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
Microsoft Dynamics AX7.0
Based on 1 answer
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.
No photo available

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
Microsoft Dynamics AX8.0
Based on 1 answer
Microsoft did a reasonably good job supporting the deployment efforts to multiple factories and ongoing stabilization. I don't think that MES was intended for the large enterprise volume and complexity levels our operations required.
No photo available

In-Person Training

No score
No answers yet
No answers on this topic
Microsoft Dynamics AX9.0
Based on 1 answer
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.
No photo available

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
Microsoft Dynamics AX8.0
Based on 1 answer
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.
No photo available

Implementation

No score
No answers yet
No answers on this topic
Microsoft Dynamics AX7.3
Based on 2 answers
Users in some cases were busy and not engaged, so those areas went slower. Configuration by the consultants was good, but at time complicated.
Jay Omdahl profile photo

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
I have not evaluated any-other type of similar product
Geomar Morales profile photo

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

  • Adding Wave to our roster of supported products has introduced us to a new group of business owners that are motivated to manage and grow their businesses.
  • Wave has improved employee engagement as my staff feel more involved in helping our customers achieve their goals. Their work is more meaningful now and less data entry driven.
Jennifer Bauldic profile photo
  • Automated art approvals - We were able to save the company thousands of dollars a year by eliminating an employee to send art approvals out. Not only eliminate an employee but are now able to send thousands more emails at a time.
  • With AX our agents are able to see exactly where an order is in the building. Our process flow is extremely strong with AX on our side.
Geomar Morales 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

Microsoft Dynamics AX

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