What users are saying about

Accounting by Wave

Top Rated
97 Ratings

move2clouds

1 Ratings

Accounting by Wave

Top Rated
97 Ratings
Score 9 out of 101

move2clouds

1 Ratings
Score 8 out of 101

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Likelihood to Recommend

Accounting by Wave

Wave is great at small business accounting where fairly simple quotes and invoices can be set up and payments can be received online or as mailed checks. Other or more complicated situations are not well suited to the platform. Any business that takes in Bitcoin or other alternative currencies will struggle to link the account types together
No photo available

move2clouds

I think all question are covering the all scenarios.
Irfan Haider Naqvi profile photo

Feature Rating Comparison

Payroll Management

Accounting by Wave
7.9
move2clouds
Pay calculation
Accounting by Wave
8.4
move2clouds
Benefit plan administration
Accounting by Wave
7.5
move2clouds
Direct deposit files
Accounting by Wave
8.0
move2clouds
Salary revision and increment management
Accounting by Wave
7.7
move2clouds
Reimbursement management
Accounting by Wave
8.0
move2clouds

Customization

Accounting by Wave
9.1
move2clouds
API for custom integration
Accounting by Wave
8.9
move2clouds
Plug-ins
Accounting by Wave
9.2
move2clouds

Security

Accounting by Wave
8.6
move2clouds
Single sign-on capability
Accounting by Wave
9.0
move2clouds
Role-based user permissions
Accounting by Wave
8.2
move2clouds

Reporting & Analytics

Accounting by Wave
8.5
move2clouds
Dashboards
Accounting by Wave
8.4
move2clouds
Standard reports
Accounting by Wave
8.3
move2clouds
Custom reports
Accounting by Wave
8.6
move2clouds

General Ledger and Configurable Accounting

Accounting by Wave
8.2
move2clouds
Accounts payable
Accounting by Wave
8.4
move2clouds
Accounts receivable
Accounting by Wave
9.1
move2clouds
Cash management
Accounting by Wave
8.1
move2clouds
Bank reconciliation
Accounting by Wave
7.8
move2clouds
Expense management
Accounting by Wave
8.5
move2clouds
Time tracking
Accounting by Wave
7.3
move2clouds
Fixed asset management
Accounting by Wave
5.2
move2clouds
Multi-currency support
Accounting by Wave
8.6
move2clouds
Multi-division support
Accounting by Wave
7.4
move2clouds
Regulations compliance
Accounting by Wave
7.3
move2clouds
Electronic tax filing
Accounting by Wave
6.0
move2clouds
Self-service portal
Accounting by Wave
9.1
move2clouds
Global Financial Support
Accounting by Wave
9.0
move2clouds
Primary and Secondary Ledgers
Accounting by Wave
9.3
move2clouds
Intercompany Accounting
Accounting by Wave
8.7
move2clouds
Localizations
Accounting by Wave
9.5
move2clouds
Journals and Reconciliations
Accounting by Wave
8.4
move2clouds
Enterprise Accounting
Accounting by Wave
8.7
move2clouds
Configurable Accounting
Accounting by Wave
8.7
move2clouds
Centralized Rules Framework
Accounting by Wave
9.0
move2clouds
Standardized Processes
Accounting by Wave
7.9
move2clouds

Inventory Management

Accounting by Wave
8.9
move2clouds
Inventory tracking
Accounting by Wave
9.5
move2clouds
Automatic reordering
Accounting by Wave
8.0
move2clouds
Location management
Accounting by Wave
9.0
move2clouds
Manufacturing module
Accounting by Wave
9.0
move2clouds

Order Management

Accounting by Wave
7.8
move2clouds
Pricing
Accounting by Wave
8.1
move2clouds
Order entry
Accounting by Wave
8.0
move2clouds
Credit card processing
Accounting by Wave
9.1
move2clouds
Cost of goods sold
Accounting by Wave
8.8
move2clouds
Order Orchestration
Accounting by Wave
8.0
move2clouds
End-to-end order visibility
Accounting by Wave
4.7
move2clouds
Order exception Resolution
Accounting by Wave
8.0
move2clouds

Accounting Firm BPO Features

Accounting by Wave
8.0
move2clouds
Branded client dashboards
Accounting by Wave
8.0
move2clouds
Client data roll-up capabilities
Accounting by Wave
8.0
move2clouds
Client data consolidation for benchmarking
Accounting by Wave
7.5
move2clouds
Configurable alerts
Accounting by Wave
8.0
move2clouds
Billing bypass
Accounting by Wave
8.0
move2clouds
Client template cloning
Accounting by Wave
8.0
move2clouds
Single sign-on
Accounting by Wave
9.0
move2clouds
Configurable client onboarding questions
Accounting by Wave
8.0
move2clouds
Cross-client workflow management
Accounting by Wave
8.0
move2clouds
Industry-specific versioning
Accounting by Wave
8.0
move2clouds
Legacy system data migration
Accounting by Wave
8.0
move2clouds

Pros

  • Quoting and Invoicing - This feature is huge to be able to manage customers and automate the process of sending invoices as well as reminding outstanding balance holders about their obligations.
  • Payment Processing - Once you get the invoicing down, the ability to process credit card and ACH payments in a single package is great. The fees are competitive and the turn-around time to money in the bank is quick.
  • Bank Integrations - I mean, this ought to be a standard thing these days, but Wave makes it super simple. There is no need to use esoteric APIs or ugly interfaces - everything is in the same Wave wrapper and the functionality is truly seamless.
No photo available
  • Simple and easy online accounting software.
  • Create and email invoices right from the Invoice making process.
  • Paperless Accounting Environment with move2clouds.
Irfan Haider Naqvi profile photo

Cons

  • The mobile experience leaves a lot to be desired. While I can use the receipt app to capture expenses, we live in a mobile digital world where I need to be able to create quotes and invoices on the spot and not back at my desk.
  • There are a few accounting and account related tools that could use some sharpening. For example, there isn't a good way to merge transactions - so when I snap a picture of a receipt and add it there is trouble reconciling against the bank. This shows up as two discrete transactions that cannot be merged - so one has to be manually deleted. It kind of defeats the purpose of scanning the receipts in entirely.
  • We've struggled with integrating debt accounts. For example, a shareholder may pay for something to get us by one day - how to we capture that as a debt owed? There isn't a way. The "shareholder debt" account doesn't talk to the rest of the system.
No photo available
  • Inventory Management is not there.
  • I can't make estimates and quotes.
  • It does not allow me to enter purchase orders.
Irfan Haider Naqvi 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
No score
No answers yet
No answers on this topic

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
No score
No answers yet
No answers on this topic

Reliability and Availability

Accounting by Wave6.7
Based on 4 answers
WAVE is always available when we need it ! Peter
Peter Cullen profile photo
No score
No answers yet
No answers on this topic

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
No score
No answers yet
No answers on this topic

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
No score
No answers yet
No answers on this topic

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

Alternatives Considered

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
No photo available
Multi-User Access and Security Access Roles that have not [been] matched. Simple and easy online accounting software. Create and email invoices right from the invoice making process. Interactive dashboard, gives me hawk-eye view of all my financial affairs. Voucher approval is the best feature that I love. Now I can review and approve expenses on my own. Paperless accounting environment [is provided] with move2clouds.
Irfan Haider Naqvi 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

  • Being as it's free software to use I'd say implementing wave has been a positive return for the business.
  • Providing us the ability to process credit cards over the phone has increased our turn time to receive payments thus saving time overall which equates to $1,000's a year
Matthew Gehrman profile photo
  • Less personnel interference in accounting.
  • My reporting is now streamlined with interactive reports.
  • I can focus on other things that matter a lot to me.
Irfan Haider Naqvi profile photo

Screenshots

Accounting by Wave
move2clouds

Pricing Details

Accounting by Wave

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

move2clouds

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