What users are saying about

Accounting by Wave

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Top Rated
102 Ratings
Top Rated
108 Ratings

Accounting by Wave

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Top Rated
102 Ratings
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Score 9.1 out of 101
Top Rated
108 Ratings
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Score 7.5 out of 101

Add comparison

Likelihood to Recommend

Accounting by Wave

Wave is a great means to launch a business and run a low cost (free) accounting solution as you startup the gears on your own business. Wave is scalable and could work well with larger companies as you can provide a variety of access levels, and even give your accountant eyes into your books. I like that they also offer payroll and bookkeeping services at a cost, but I haven't used them yet. Wave's invoicing is easy to follow and offers great payment options for my client.
Carl Grivakis profile photo

Microsoft Dynamics AX

Microsoft Dynamics AX is well suited for medium to smaller branch offices or operations where SAP products are not suitable due to lack of resources. It interfaces well with SAP for data configuration to have seamless transactions with our main ERP and BI teams, yet still allow smaller branch and satellite offices to do their job. For larger facilities (500 or more employees) we find Microsoft Dynamics AX to be limiting in features and robust role assignments as well as granular workflow to cover the entire operations in manufacturing and refining.
No photo available

Feature Rating Comparison

Payroll Management

Accounting by Wave
7.9
Microsoft Dynamics AX
7.9
Pay calculation
Accounting by Wave
8.3
Microsoft Dynamics AX
7.8
Benefit plan administration
Accounting by Wave
7.5
Microsoft Dynamics AX
7.6
Direct deposit files
Accounting by Wave
8.0
Microsoft Dynamics AX
8.0
Salary revision and increment management
Accounting by Wave
7.7
Microsoft Dynamics AX
8.4
Reimbursement management
Accounting by Wave
8.0
Microsoft Dynamics AX
7.7

Customization

Accounting by Wave
9.0
Microsoft Dynamics AX
8.0
API for custom integration
Accounting by Wave
8.9
Microsoft Dynamics AX
7.9
Plug-ins
Accounting by Wave
9.1
Microsoft Dynamics AX
8.1

Security

Accounting by Wave
8.6
Microsoft Dynamics AX
7.6
Single sign-on capability
Accounting by Wave
9.1
Microsoft Dynamics AX
8.2
Role-based user permissions
Accounting by Wave
8.1
Microsoft Dynamics AX
7.1

Reporting & Analytics

Accounting by Wave
8.4
Microsoft Dynamics AX
6.3
Dashboards
Accounting by Wave
8.4
Microsoft Dynamics AX
6.3
Standard reports
Accounting by Wave
8.3
Microsoft Dynamics AX
6.1
Custom reports
Accounting by Wave
8.6
Microsoft Dynamics AX
6.6

General Ledger and Configurable Accounting

Accounting by Wave
8.2
Microsoft Dynamics AX
7.7
Accounts payable
Accounting by Wave
8.6
Microsoft Dynamics AX
7.7
Accounts receivable
Accounting by Wave
9.2
Microsoft Dynamics AX
7.7
Cash management
Accounting by Wave
8.0
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
6.3
Microsoft Dynamics AX
Multi-currency support
Accounting by Wave
8.5
Microsoft Dynamics AX
Multi-division support
Accounting by Wave
7.5
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
9.0
Microsoft Dynamics AX
Global Financial Support
Accounting by Wave
9.0
Microsoft Dynamics AX
7.2
Primary and Secondary Ledgers
Accounting by Wave
9.3
Microsoft Dynamics AX
7.6
Intercompany Accounting
Accounting by Wave
8.7
Microsoft Dynamics AX
7.5
Localizations
Accounting by Wave
9.5
Microsoft Dynamics AX
7.7
Journals and Reconciliations
Accounting by Wave
8.1
Microsoft Dynamics AX
7.8
Enterprise Accounting
Accounting by Wave
8.7
Microsoft Dynamics AX
8.0
Configurable Accounting
Accounting by Wave
8.5
Microsoft Dynamics AX
7.7
Centralized Rules Framework
Accounting by Wave
9.0
Microsoft Dynamics AX
6.6
Standardized Processes
Accounting by Wave
8.0
Microsoft Dynamics AX
7.3

Inventory Management

Accounting by Wave
8.9
Microsoft Dynamics AX
7.4
Inventory tracking
Accounting by Wave
9.5
Microsoft Dynamics AX
8.1
Automatic reordering
Accounting by Wave
8.0
Microsoft Dynamics AX
7.7
Location management
Accounting by Wave
9.0
Microsoft Dynamics AX
7.4
Manufacturing module
Accounting by Wave
9.0
Microsoft Dynamics AX
6.2

Order Management

Accounting by Wave
7.9
Microsoft Dynamics AX
7.3
Pricing
Accounting by Wave
8.3
Microsoft Dynamics AX
7.7
Order entry
Accounting by Wave
8.3
Microsoft Dynamics AX
7.2
Credit card processing
Accounting by Wave
9.1
Microsoft Dynamics AX
7.1
Cost of goods sold
Accounting by Wave
8.8
Microsoft Dynamics AX
7.0
Order Orchestration
Accounting by Wave
8.0
Microsoft Dynamics AX
7.2
End-to-end order visibility
Accounting by Wave
4.8
Microsoft Dynamics AX
7.7
Order exception Resolution
Accounting by Wave
8.0
Microsoft Dynamics AX
7.2

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
7.3
Automated Invoice Processing
Accounting by Wave
Microsoft Dynamics AX
7.9
Shared Services Payments
Accounting by Wave
Microsoft Dynamics AX
6.9
Billings Management
Accounting by Wave
Microsoft Dynamics AX
7.6
Customer Receipt Applications
Accounting by Wave
Microsoft Dynamics AX
7.0
Customer Collections
Accounting by Wave
Microsoft Dynamics AX
7.5
Revenue Recognition
Accounting by Wave
Microsoft Dynamics AX
7.9
Cash Management
Accounting by Wave
Microsoft Dynamics AX
6.8
Asset Management
Accounting by Wave
Microsoft Dynamics AX
7.0
Travel & Expense Management
Accounting by Wave
Microsoft Dynamics AX
6.7
Budgetary Control & Encumbrance Accounting
Accounting by Wave
Microsoft Dynamics AX
6.2
Period Close
Accounting by Wave
Microsoft Dynamics AX
7.9
Transactions Tax
Accounting by Wave
Microsoft Dynamics AX
7.3
Subledger Reconciliations
Accounting by Wave
Microsoft Dynamics AX
8.1
3rd Party Accounting Systems
Accounting by Wave
Microsoft Dynamics AX
7.8

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
8.6
Capital Project Management
Accounting by Wave
Microsoft Dynamics AX
6.9
Customer Invoicing
Accounting by Wave
Microsoft Dynamics AX
8.1
Customer Contract Compliance
Accounting by Wave
Microsoft Dynamics AX
7.5
Project Revenue Recognition
Accounting by Wave
Microsoft Dynamics AX
8.5
Project Financial Performance Analysis
Accounting by Wave
Microsoft Dynamics AX
8.5
Project Financials Dashboard
Accounting by Wave
Microsoft Dynamics AX
8.5
Real-time Financial Reporting
Accounting by Wave
Microsoft Dynamics AX
8.0
Embedded Business Intelligence
Accounting by Wave
Microsoft Dynamics AX
6.5
Project Planning Collaboration
Accounting by Wave
Microsoft Dynamics AX
7.5

Project Execution Management

Accounting by Wave
Microsoft Dynamics AX
6.6
Project Planning and Scheduling
Accounting by Wave
Microsoft Dynamics AX
8.0
Project Manager Dashboard
Accounting by Wave
Microsoft Dynamics AX
7.8
Resource Manager Dashboard
Accounting by Wave
Microsoft Dynamics AX
7.0
Task Insight for Project Managers
Accounting by Wave
Microsoft Dynamics AX
6.8
Project Manager Mobile Functionality
Accounting by Wave
Microsoft Dynamics AX
7.2
Team Member Task Collaboration
Accounting by Wave
Microsoft Dynamics AX
6.4
Team Member Mobile Functionality
Accounting by Wave
Microsoft Dynamics AX
6.2
Project Candidate Search
Accounting by Wave
Microsoft Dynamics AX
6.8
Project Candidate Comparison and Analysis
Accounting by Wave
Microsoft Dynamics AX
6.6
Defineable Resource Pools
Accounting by Wave
Microsoft Dynamics AX
5.8
Defineable Resource Pools
Accounting by Wave
Microsoft Dynamics AX
6.2
Talent Profiles
Accounting by Wave
Microsoft Dynamics AX
5.0
Real-Time Project Reporting
Accounting by Wave
Microsoft Dynamics AX
7.5
Absence Management
Accounting by Wave
Microsoft Dynamics AX
6.0
Product Lifecycle Management
Accounting by Wave
Microsoft Dynamics AX
5.0

Grants Management

Accounting by Wave
Microsoft Dynamics AX
7.8
Award Lifecycle Management
Accounting by Wave
Microsoft Dynamics AX
6.5
Spending Control
Accounting by Wave
Microsoft Dynamics AX
7.0
Indirect Cost Management
Accounting by Wave
Microsoft Dynamics AX
9.0
Billing
Accounting by Wave
Microsoft Dynamics AX
8.5

Procurement

Accounting by Wave
Microsoft Dynamics AX
6.6
Sourcing Team Collaboration
Accounting by Wave
Microsoft Dynamics AX
6.6
Sourcing Analysis
Accounting by Wave
Microsoft Dynamics AX
8.0
Bids Analyzed and Compared
Accounting by Wave
Microsoft Dynamics AX
5.8
Catalog Shopping E-Commerce for Employees
Accounting by Wave
Microsoft Dynamics AX
6.6
Contract Authoring
Accounting by Wave
Microsoft Dynamics AX
6.0
Contract Compliance Management
Accounting by Wave
Microsoft Dynamics AX
6.9
Contract History
Accounting by Wave
Microsoft Dynamics AX
5.8
Contract Renewal Automation
Accounting by Wave
Microsoft Dynamics AX
7.0
Contract Repository
Accounting by Wave
Microsoft Dynamics AX
3.8
Contract Standardization and Enforcement
Accounting by Wave
Microsoft Dynamics AX
6.7
Electronic Signatures
Accounting by Wave
Microsoft Dynamics AX
8.4
Invoice Automated Matching
Accounting by Wave
Microsoft Dynamics AX
8.0
Purchasing Risk and Compliance Management
Accounting by Wave
Microsoft Dynamics AX
7.0
Requisitions-to-Purchase Orders Integrated
Accounting by Wave
Microsoft Dynamics AX
6.8
Spend Compliance Management
Accounting by Wave
Microsoft Dynamics AX
6.0
Supplier Assessment
Accounting by Wave
Microsoft Dynamics AX
7.3
Supplier Communication and Collaboration
Accounting by Wave
Microsoft Dynamics AX
6.1
Supplier Management
Accounting by Wave
Microsoft Dynamics AX
7.2
Supplier Portal
Accounting by Wave
Microsoft Dynamics AX
4.9

Risk Management

Accounting by Wave
Microsoft Dynamics AX
7.6
Risk Repository
Accounting by Wave
Microsoft Dynamics AX
7.0
Control Management
Accounting by Wave
Microsoft Dynamics AX
8.0
Control Mapping
Accounting by Wave
Microsoft Dynamics AX
7.0
Control Efficiency Assessments
Accounting by Wave
Microsoft Dynamics AX
7.0
Automated Control Assessments
Accounting by Wave
Microsoft Dynamics AX
8.0
Assessment Capture
Accounting by Wave
Microsoft Dynamics AX
8.0
Issue Detection
Accounting by Wave
Microsoft Dynamics AX
8.0
Automatic Notification
Accounting by Wave
Microsoft Dynamics AX
7.0
Remediation and Certification
Accounting by Wave
Microsoft Dynamics AX
8.0

Logistics

Accounting by Wave
Microsoft Dynamics AX
6.3
Transportation Planning and Optimization
Accounting by Wave
Microsoft Dynamics AX
5.2
Transportation Sourcing Management
Accounting by Wave
Microsoft Dynamics AX
5.2
Transportation Process Integration
Accounting by Wave
Microsoft Dynamics AX
5.2
Transportation Execution Management
Accounting by Wave
Microsoft Dynamics AX
4.6
Freight Payment Automation
Accounting by Wave
Microsoft Dynamics AX
4.6
Trade Management
Accounting by Wave
Microsoft Dynamics AX
5.2
Trade Regulatory Compliance Management
Accounting by Wave
Microsoft Dynamics AX
7.5
Customs Entry Management
Accounting by Wave
Microsoft Dynamics AX
8.0
Customs Document Management
Accounting by Wave
Microsoft Dynamics AX
7.0
Customs Document Collaboration
Accounting by Wave
Microsoft Dynamics AX
8.0
Fulfillment Management
Accounting by Wave
Microsoft Dynamics AX
8.0
Inventory Visibility
Accounting by Wave
Microsoft Dynamics AX
7.9
Warehouse Workforce Management
Accounting by Wave
Microsoft Dynamics AX
4.9

Manufacturing

Accounting by Wave
Microsoft Dynamics AX
7.2
Production Process Design
Accounting by Wave
Microsoft Dynamics AX
7.0
Supply Chain Business Flows
Accounting by Wave
Microsoft Dynamics AX
7.0
Production Management
Accounting by Wave
Microsoft Dynamics AX
7.0
Contracted Manufacturing Management
Accounting by Wave
Microsoft Dynamics AX
6.5
Configuration Management
Accounting by Wave
Microsoft Dynamics AX
8.0
Work Definition
Accounting by Wave
Microsoft Dynamics AX
8.0
Work Execution
Accounting by Wave
Microsoft Dynamics AX
8.0
Advanced Fulfillment
Accounting by Wave
Microsoft Dynamics AX
6.0
Manufacturing Costs
Accounting by Wave
Microsoft Dynamics AX
7.0

Supply Chain

Accounting by Wave
Microsoft Dynamics AX
6.9
Forecasting
Accounting by Wave
Microsoft Dynamics AX
6.9
Inventory Planning
Accounting by Wave
Microsoft Dynamics AX
7.2
Multi-tier Supply Chain Planning
Accounting by Wave
Microsoft Dynamics AX
6.6
Performance Monitoring
Accounting by Wave
Microsoft Dynamics AX
6.9

Product Lifecycle Management

Accounting by Wave
Microsoft Dynamics AX
7.7
Ideation Management
Accounting by Wave
Microsoft Dynamics AX
4.5
Requirements Management
Accounting by Wave
Microsoft Dynamics AX
4.5
Proposal Management
Accounting by Wave
Microsoft Dynamics AX
8.0
Innovation Portfolio Management
Accounting by Wave
Microsoft Dynamics AX
10.0
Product Master Data Management
Accounting by Wave
Microsoft Dynamics AX
7.0
Vendor Portal
Accounting by Wave
Microsoft Dynamics AX
10.0
Project Portfolio Management
Accounting by Wave
Microsoft Dynamics AX
10.0

Pros

  • The invoicing is easily personalized and works well with both online delivery and with downloaded .pdf files for those who prefer to have direct invoicing from our firm.
  • The billing system makes it easy to track payments to contractors by project, however, it would be great to have a full 1099 solution. The payroll system worked well for us for several years, however, there were some bumps and learning curves. I am not using it at this time.
  • We have a few clients who use the direct payment options and while that costs us a few percentage points (and on the size of our contracts it seems to be a hefty slice), it's still worth it for the piece of mind to get the funds in rapidly. The rates are fairly competitive compared to what we usually.
  • It's useful to be able to assign access to team members or collaborators.
Geri Lynn Peak profile photo
  • 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.
No photo available

Cons

  • Transaction coding could be smoother and offer better search options.
  • Flagging payments before transactions have been uploaded means you have to delete the old notice in order to connect the transaction to an invoice and the billing (expenses) system is always a few steps behind invoices (sales)
  • 1099 tracking and submission would be much appreciated!
Geri Lynn Peak profile photo
  • Inventory managment
  • User functinality
Geomar Morales 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

Each one of these cloud-based or desktop accounting services offer different pros and cons. It really comes down to the individual owner's wants and needs. While Wave is not going to be my first choice for a large, complex organization, it really shines when handling a one person shop who wants to keep track of their home and business finances in one place without all the complexity of traditional bookkeeping software. It's far less expensive than its competitors and has made constant strides to improve itself since day one. It also has a very friendly support staff who have a very fast response time.
Eric Matthews profile photo
In all cases Dynamics proved to be a more affordable overall investment compared to Oracle and SAP as well as a less complicated implementation.
Mark S. Sanders 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

  • Faster billing as you have the ability to invoice directly from a smartphone (iPhone or Android)
Michele Craig CPA,CMA profile photo
  • Over $150M in direct benefits, including eliminating the hard and human resource costs of supporting multiple non-standardized processes and software platforms across the globe.
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

Microsoft Dynamics AX

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