What users are saying about

Accounting by Wave

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Top Rated
102 Ratings
Top Rated
143 Ratings

Accounting by Wave

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Top Rated
102 Ratings
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Score 9.1 out of 101
Top Rated
143 Ratings
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Score 7.4 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

GP is very flexible and can be used in a wide variety of industries
Tricia Wolfe Jarvis profile photo

Feature Rating Comparison

Payroll Management

Accounting by Wave
7.9
Microsoft Dynamics GP
7.6
Pay calculation
Accounting by Wave
8.3
Microsoft Dynamics GP
8.4
Benefit plan administration
Accounting by Wave
7.5
Microsoft Dynamics GP
6.6
Direct deposit files
Accounting by Wave
8.0
Microsoft Dynamics GP
7.8
Salary revision and increment management
Accounting by Wave
7.7
Microsoft Dynamics GP
7.7
Reimbursement management
Accounting by Wave
8.0
Microsoft Dynamics GP
7.6

Customization

Accounting by Wave
9.0
Microsoft Dynamics GP
8.4
API for custom integration
Accounting by Wave
8.9
Microsoft Dynamics GP
8.0
Plug-ins
Accounting by Wave
9.1
Microsoft Dynamics GP
8.8

Security

Accounting by Wave
8.6
Microsoft Dynamics GP
8.8
Single sign-on capability
Accounting by Wave
9.1
Microsoft Dynamics GP
8.9
Role-based user permissions
Accounting by Wave
8.1
Microsoft Dynamics GP
8.7

Reporting & Analytics

Accounting by Wave
8.4
Microsoft Dynamics GP
7.9
Dashboards
Accounting by Wave
8.4
Microsoft Dynamics GP
8.0
Standard reports
Accounting by Wave
8.3
Microsoft Dynamics GP
7.7
Custom reports
Accounting by Wave
8.6
Microsoft Dynamics GP
8.1

General Ledger and Configurable Accounting

Accounting by Wave
8.2
Microsoft Dynamics GP
8.0
Accounts payable
Accounting by Wave
8.6
Microsoft Dynamics GP
8.3
Accounts receivable
Accounting by Wave
9.2
Microsoft Dynamics GP
8.0
Cash management
Accounting by Wave
8.0
Microsoft Dynamics GP
8.1
Bank reconciliation
Accounting by Wave
7.8
Microsoft Dynamics GP
8.0
Expense management
Accounting by Wave
8.5
Microsoft Dynamics GP
7.8
Time tracking
Accounting by Wave
7.3
Microsoft Dynamics GP
6.0
Fixed asset management
Accounting by Wave
6.3
Microsoft Dynamics GP
8.0
Multi-currency support
Accounting by Wave
8.5
Microsoft Dynamics GP
7.8
Multi-division support
Accounting by Wave
7.5
Microsoft Dynamics GP
7.5
Regulations compliance
Accounting by Wave
7.3
Microsoft Dynamics GP
7.8
Electronic tax filing
Accounting by Wave
6.0
Microsoft Dynamics GP
7.6
Self-service portal
Accounting by Wave
9.0
Microsoft Dynamics GP
8.0
Global Financial Support
Accounting by Wave
9.0
Microsoft Dynamics GP
7.7
Primary and Secondary Ledgers
Accounting by Wave
9.3
Microsoft Dynamics GP
8.6
Intercompany Accounting
Accounting by Wave
8.7
Microsoft Dynamics GP
7.4
Localizations
Accounting by Wave
9.5
Microsoft Dynamics GP
7.7
Journals and Reconciliations
Accounting by Wave
8.1
Microsoft Dynamics GP
8.2
Enterprise Accounting
Accounting by Wave
8.7
Microsoft Dynamics GP
8.7
Configurable Accounting
Accounting by Wave
8.5
Microsoft Dynamics GP
8.4
Centralized Rules Framework
Accounting by Wave
9.0
Microsoft Dynamics GP
8.6
Standardized Processes
Accounting by Wave
8.0
Microsoft Dynamics GP
9.1

Inventory Management

Accounting by Wave
8.9
Microsoft Dynamics GP
7.2
Inventory tracking
Accounting by Wave
9.5
Microsoft Dynamics GP
7.8
Automatic reordering
Accounting by Wave
8.0
Microsoft Dynamics GP
7.1
Location management
Accounting by Wave
9.0
Microsoft Dynamics GP
7.4
Manufacturing module
Accounting by Wave
9.0
Microsoft Dynamics GP
6.5

Order Management

Accounting by Wave
7.9
Microsoft Dynamics GP
7.9
Pricing
Accounting by Wave
8.3
Microsoft Dynamics GP
7.7
Order entry
Accounting by Wave
8.3
Microsoft Dynamics GP
8.1
Credit card processing
Accounting by Wave
9.1
Microsoft Dynamics GP
7.6
Cost of goods sold
Accounting by Wave
8.8
Microsoft Dynamics GP
8.1
Order Orchestration
Accounting by Wave
8.0
Microsoft Dynamics GP
7.5
End-to-end order visibility
Accounting by Wave
4.8
Microsoft Dynamics GP
8.0
Order exception Resolution
Accounting by Wave
8.0
Microsoft Dynamics GP
8.0

Accounting Firm BPO Features

Accounting by Wave
8.0
Microsoft Dynamics GP
7.8
Branded client dashboards
Accounting by Wave
8.0
Microsoft Dynamics GP
8.0
Client data roll-up capabilities
Accounting by Wave
8.0
Microsoft Dynamics GP
7.0
Client data consolidation for benchmarking
Accounting by Wave
7.5
Microsoft Dynamics GP
8.0
Configurable alerts
Accounting by Wave
8.0
Microsoft Dynamics GP
8.0
Billing bypass
Accounting by Wave
8.0
Microsoft Dynamics GP
8.0
Client template cloning
Accounting by Wave
8.0
Microsoft Dynamics GP
8.0
Single sign-on
Accounting by Wave
9.0
Microsoft Dynamics GP
8.0
Configurable client onboarding questions
Accounting by Wave
8.0
Microsoft Dynamics GP
7.0
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
8.0
Legacy system data migration
Accounting by Wave
8.0
Microsoft Dynamics GP
7.5

Pros

  • Support. There are many similar systems out there but my experiences with Wave's support team is why I will always use this product over the others.
  • Payroll. This is an area that can change your business. Harnessing the ease of use of Wave's Payroll Modules allows our company to stay lean and concentrate on growth while providing a premium experience to our awesome employees.
  • Invoicing. It may seem trivial but the invoicing modules in Wave, when used correctly are a huge time saver and enhance the overall bookkeeping experience. Not to mention the impression my client's get when they receive a professional invoice via email.
John Galbraith profile photo
  • Multiple currencies
  • Flexible account structure
  • Multiple users
No photo available

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
  • 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 have been a GP consultant for 15 years. I believe in the product and highly recommend it.
Amber Bell 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
It's the best system available.
Candi Southall 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
Just need to ensure you determine how you want foreign subs reporting in GP
Charles T Toomey profile photo

Alternatives Considered

Accounting by Wave has a similar target market to FreshBooks, however Accounting by Wave is a full GL solution whereas FreshBooks provides cash flow and receivables tracking. I would definitely recommend Accounting by Wave over FreshBooks for that reason. Also FreshBooks isn't free to use if you have more than one customer.Accounting by Wave is similar to QuickBooks Online however QBO does offer a full bank reconciliation module and the ability to track different business processes (if you use the higher version). They are continually adding functionality and appear to be aiming for a full service solution to replace their very popular desktop version. Accounting by Wave, on the other hand, offers a great solution for owners who mix business and personal funds including personal expense tracking if desired.
Michele Craig CPA,CMA profile photo
I love Dayforce for payroll. It has been configured to meet all our needs, is user-friendly and the customer support is fantastic. We originally moved from MDGP payroll to Ceridian Insync payroll due to the issues we had. We upgraded to Dayforce and are very happy with the program.
No photo available

Rating for Public Practice CPAs

Accounting by Wave8.0
Based on 8 answers
Wave is very easy for the small business owner to use but it has enough features to keep accountants happy.
Elaine Orr Morgan 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
  • Frankly, we haven't leveraged it properly, so this is a difficult question to answer. I'm sure our ROI could be much stronger.
Travis Campbell, CPA, CA 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