What users are saying about

Accounting by Wave

Top Rated
97 Ratings

Microsoft Dynamics GP

Top Rated
139 Ratings

Accounting by Wave

Top Rated
97 Ratings
Score 9.1 out of 101

Microsoft Dynamics GP

Top Rated
139 Ratings
Score 7.3 out of 101

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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 GP

It does accounting really well, it does payroll not so well. I say this because when you get into states that have complicated payroll laws like California, overtime calculations are hard to setup and get right. Same goes for other states when they do out of the normal pay structure like piece rate pay. It does HR, A/P and A/R really well and we have had no issues on that side; just payroll when it comes to certain states and how we do anything that is not salary or hourly.
Eric Mereen profile photo

Feature Rating Comparison

Payroll Management

Accounting by Wave
7.9
Microsoft Dynamics GP
7.2
Pay calculation
Accounting by Wave
8.4
Microsoft Dynamics GP
7.0
Benefit plan administration
Accounting by Wave
7.5
Microsoft Dynamics GP
7.0
Direct deposit files
Accounting by Wave
8.0
Microsoft Dynamics GP
7.5
Salary revision and increment management
Accounting by Wave
7.7
Microsoft Dynamics GP
7.5
Reimbursement management
Accounting by Wave
8.0
Microsoft Dynamics GP
7.0

Customization

Accounting by Wave
9.1
Microsoft Dynamics GP
8.4
API for custom integration
Accounting by Wave
8.9
Microsoft Dynamics GP
8.1
Plug-ins
Accounting by Wave
9.2
Microsoft Dynamics GP
8.6

Security

Accounting by Wave
8.6
Microsoft Dynamics GP
8.9
Single sign-on capability
Accounting by Wave
9.0
Microsoft Dynamics GP
9.1
Role-based user permissions
Accounting by Wave
8.2
Microsoft Dynamics GP
8.8

Reporting & Analytics

Accounting by Wave
8.5
Microsoft Dynamics GP
7.9
Dashboards
Accounting by Wave
8.5
Microsoft Dynamics GP
7.6
Standard reports
Accounting by Wave
8.3
Microsoft Dynamics GP
7.8
Custom reports
Accounting by Wave
8.6
Microsoft Dynamics GP
8.2

General Ledger and Configurable Accounting

Accounting by Wave
8.2
Microsoft Dynamics GP
8.0
Accounts payable
Accounting by Wave
8.5
Microsoft Dynamics GP
8.3
Accounts receivable
Accounting by Wave
9.2
Microsoft Dynamics GP
8.0
Cash management
Accounting by Wave
8.2
Microsoft Dynamics GP
8.2
Bank reconciliation
Accounting by Wave
7.8
Microsoft Dynamics GP
8.2
Expense management
Accounting by Wave
8.6
Microsoft Dynamics GP
7.8
Time tracking
Accounting by Wave
7.3
Microsoft Dynamics GP
6.0
Fixed asset management
Accounting by Wave
6.2
Microsoft Dynamics GP
7.6
Multi-currency support
Accounting by Wave
8.6
Microsoft Dynamics GP
7.7
Multi-division support
Accounting by Wave
7.6
Microsoft Dynamics GP
7.9
Regulations compliance
Accounting by Wave
7.3
Microsoft Dynamics GP
7.0
Electronic tax filing
Accounting by Wave
6.0
Microsoft Dynamics GP
7.0
Self-service portal
Accounting by Wave
9.1
Microsoft Dynamics GP
8.0
Global Financial Support
Accounting by Wave
9.0
Microsoft Dynamics GP
8.0
Primary and Secondary Ledgers
Accounting by Wave
9.3
Microsoft Dynamics GP
8.7
Intercompany Accounting
Accounting by Wave
8.7
Microsoft Dynamics GP
7.3
Localizations
Accounting by Wave
9.5
Microsoft Dynamics GP
8.0
Journals and Reconciliations
Accounting by Wave
8.4
Microsoft Dynamics GP
8.1
Enterprise Accounting
Accounting by Wave
8.7
Microsoft Dynamics GP
8.6
Configurable Accounting
Accounting by Wave
8.5
Microsoft Dynamics GP
8.3
Centralized Rules Framework
Accounting by Wave
9.0
Microsoft Dynamics GP
9.3
Standardized Processes
Accounting by Wave
7.9
Microsoft Dynamics GP
9.3

Inventory Management

Accounting by Wave
8.9
Microsoft Dynamics GP
6.9
Inventory tracking
Accounting by Wave
9.5
Microsoft Dynamics GP
7.2
Automatic reordering
Accounting by Wave
8.0
Microsoft Dynamics GP
6.0
Location management
Accounting by Wave
9.0
Microsoft Dynamics GP
7.5
Manufacturing module
Accounting by Wave
9.0
Microsoft Dynamics GP
7.0

Order Management

Accounting by Wave
7.9
Microsoft Dynamics GP
8.3
Pricing
Accounting by Wave
8.3
Microsoft Dynamics GP
8.5
Order entry
Accounting by Wave
8.3
Microsoft Dynamics GP
8.4
Credit card processing
Accounting by Wave
9.1
Microsoft Dynamics GP
8.3
Cost of goods sold
Accounting by Wave
8.9
Microsoft Dynamics GP
8.4
Order Orchestration
Accounting by Wave
8.0
Microsoft Dynamics GP
8.0
End-to-end order visibility
Accounting by Wave
4.7
Microsoft Dynamics GP
8.0
Order exception Resolution
Accounting by Wave
8.0
Microsoft Dynamics GP

Accounting Firm BPO Features

Accounting by Wave
8.0
Microsoft Dynamics GP
6.3
Branded client dashboards
Accounting by Wave
8.0
Microsoft Dynamics GP
5.0
Client data roll-up capabilities
Accounting by Wave
8.0
Microsoft Dynamics GP
5.0
Client data consolidation for benchmarking
Accounting by Wave
7.5
Microsoft Dynamics GP
5.0
Configurable alerts
Accounting by Wave
8.0
Microsoft Dynamics GP
7.0
Billing bypass
Accounting by Wave
8.0
Microsoft Dynamics GP
Client template cloning
Accounting by Wave
8.0
Microsoft Dynamics GP
5.5
Single sign-on
Accounting by Wave
9.0
Microsoft Dynamics GP
8.3
Configurable client onboarding questions
Accounting by Wave
8.0
Microsoft Dynamics GP
8.0
Cross-client workflow management
Accounting by Wave
8.0
Microsoft Dynamics GP
8.0
Industry-specific versioning
Accounting by Wave
8.0
Microsoft Dynamics GP
1.0
Legacy system data migration
Accounting by Wave
8.0
Microsoft Dynamics GP
10.0

Pros

  • For starters, it's free! And every new business needs to be cost-conscious in order to successfully navigate the start-up phase and get into the Revenue Phase.
  • The bank and credit card feeds are tremendously helpful to the non-accountant. Data entry in the bookkeeping industry is being replaced by these automatic transaction feeds. This helps a great deal in ensuring both accuracy and completeness of the bookkeeping records.
  • Wave stays with you to help you grow. They offer a (paid) payroll module which allows the business owner to handle basic payroll needs without becoming an expert. Of course, we always recommend consulting a professional to confirm compliance - both legal and regulatory.
Jennifer Bauldic profile photo
  • It doesn't allow for easy access as it has restrictions placed on users. This allows for inputted information to retain it's integrity.
  • It can be scheduled to import or export information from other systems cutting down on time spent configuring data.
No photo available

Cons

  • Wave is very simple and it meets the needs of clients that it was designed for. If you use the right tool for the right job, it can be a great thing. However, the program is not yet at a stage where I would recommend it to larger entities.
Jeff Borschowa profile photo
  • It is not very user-friendly.
  • Very costly especially for customer support.
  • Processes are complex with too many steps for completion.
No photo available

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 GP9.9
Based on 7 answers
I am thoroughly passionate about utilizing, implementing and supporting Microsoft Dynamics GP
Melissa Brown profile photo

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 GP6.9
Based on 4 answers
Though it is a basic accounting package, I believe some users do not find the old style menus and navigation options intuitive. There is also a great lack of training resources in the market, so users have to learn the product without guidance a lot, resulting in inefficient workflows and misuse or misunderstanding of many features.
Constance Quigley profile photo

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 GP10.0
Based on 2 answers
No answer on this topic is 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 GP7.0
Based on 1 answer
No answer on this topic is 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 GP8.9
Based on 3 answers
I have always had my issues resolved timely
Tricia Wolfe Jarvis profile photo

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

Implementation

No score
No answers yet
No answers on this topic
Microsoft Dynamics GP8.2
Based on 3 answers
No photo available

Alternatives Considered

Wave is ideal for the small business owner. It is free (can't beat that) and easy to use. I use a variety of solutions, but pair Wave with clients (such as realtors) to keep them away from shoeboxes! I don't do anything fancy with the program, but it really shines at separating business and personal.
Jeff Borschowa profile photo
We looked at several general ledger software packages. We had excellent customer service and implementation guidance through a third party. Having a knowledgeable consultant is critical to a successful implementation.
No photo available

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
Microsoft Dynamics GP9.0
Based on 1 answer
Full integration with Office 365 and CRM. It's golden to work from one platform from anywhere
BYRON RAMBO profile photo

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
Microsoft Dynamics GP9.1
Based on 1 answer
The functionality that GP and related ISV solutions offer and the ease of integration of GP to other systems makes it an extremely scalable solution
Tricia Wolfe Jarvis profile photo

Return on Investment

  • Faster bookkeeping
  • Better accounting records
  • Cheaper accountants fees
Paul Colman FCA profile photo
  • We were running 2 separate accounting systems. One for our e-commerce platform and one for everything else. By choosing GP and integrating our e-commerce platform, we now have a clear picture of our finances that we did not have before.
Jay Moore 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 GP

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