What users are saying about

Accounting by Wave

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Top Rated
102 Ratings
118 Ratings

Accounting by Wave

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Top Rated
102 Ratings
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Score 9.1 out of 101
118 Ratings
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Score 8 out of 101

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Likelihood to Recommend

Accounting by Wave

Wave is free to use, and they have some premium features you can pay for. For someone just starting out as a small business, freelancer or independent contractor, this is a Godsend. You can look professional, have something easy to manage, and yet also have excellent records come the end of the year. You won't spend a bunch of time having to learn the program, it's very intuitive and you get a host of great features that will make getting paid easy.
J.P. VanderLinden profile photo

Oracle EPM Cloud

Our company uses it primarily to roll up ledger data from our business segments - it works perfectly in that regard
Greg Grey profile photo

Feature Rating Comparison

Payroll Management

Accounting by Wave
7.9
Oracle EPM Cloud
Pay calculation
Accounting by Wave
8.3
Oracle EPM Cloud
Benefit plan administration
Accounting by Wave
7.5
Oracle EPM Cloud
Direct deposit files
Accounting by Wave
8.0
Oracle EPM Cloud
Salary revision and increment management
Accounting by Wave
7.7
Oracle EPM Cloud
Reimbursement management
Accounting by Wave
8.0
Oracle EPM Cloud

Customization

Accounting by Wave
9.0
Oracle EPM Cloud
API for custom integration
Accounting by Wave
8.9
Oracle EPM Cloud
Plug-ins
Accounting by Wave
9.1
Oracle EPM Cloud

Security

Accounting by Wave
8.6
Oracle EPM Cloud
Single sign-on capability
Accounting by Wave
9.1
Oracle EPM Cloud
Role-based user permissions
Accounting by Wave
8.1
Oracle EPM Cloud

Reporting & Analytics

Accounting by Wave
8.4
Oracle EPM Cloud
Dashboards
Accounting by Wave
8.4
Oracle EPM Cloud
Standard reports
Accounting by Wave
8.3
Oracle EPM Cloud
Custom reports
Accounting by Wave
8.6
Oracle EPM Cloud

General Ledger and Configurable Accounting

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

Inventory Management

Accounting by Wave
8.9
Oracle EPM Cloud
Inventory tracking
Accounting by Wave
9.5
Oracle EPM Cloud
Automatic reordering
Accounting by Wave
8.0
Oracle EPM Cloud
Location management
Accounting by Wave
9.0
Oracle EPM Cloud
Manufacturing module
Accounting by Wave
9.0
Oracle EPM Cloud

Order Management

Accounting by Wave
7.9
Oracle EPM Cloud
Pricing
Accounting by Wave
8.3
Oracle EPM Cloud
Order entry
Accounting by Wave
8.3
Oracle EPM Cloud
Credit card processing
Accounting by Wave
9.1
Oracle EPM Cloud
Cost of goods sold
Accounting by Wave
8.8
Oracle EPM Cloud
Order Orchestration
Accounting by Wave
8.0
Oracle EPM Cloud
End-to-end order visibility
Accounting by Wave
4.8
Oracle EPM Cloud
Order exception Resolution
Accounting by Wave
8.0
Oracle EPM Cloud

Accounting Firm BPO Features

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

Budgeting, Planning, and Forecasting

Accounting by Wave
Oracle EPM Cloud
8.4
Long-term financial planning
Accounting by Wave
Oracle EPM Cloud
8.6
Financial budgeting
Accounting by Wave
Oracle EPM Cloud
8.8
Forecasting
Accounting by Wave
Oracle EPM Cloud
8.0
Scenario modeling
Accounting by Wave
Oracle EPM Cloud
7.8
Management reporting
Accounting by Wave
Oracle EPM Cloud
8.6

FInancial Reporting and Compliance

Accounting by Wave
Oracle EPM Cloud
8.1
Financial Statement Reporting
Accounting by Wave
Oracle EPM Cloud
8.3
Management Reporting
Accounting by Wave
Oracle EPM Cloud
8.5
Excel-based Reporting
Accounting by Wave
Oracle EPM Cloud
9.1
Automated board and financial reporting
Accounting by Wave
Oracle EPM Cloud
8.4
XBRL support for regulatory filing
Accounting by Wave
Oracle EPM Cloud
6.0

Analytics

Accounting by Wave
Oracle EPM Cloud
7.0
Personalized dashboards
Accounting by Wave
Oracle EPM Cloud
7.2
Key Performance Indicator setting
Accounting by Wave
Oracle EPM Cloud
7.5
Benchmarking with external data
Accounting by Wave
Oracle EPM Cloud
6.2

Integration

Accounting by Wave
Oracle EPM Cloud
7.6
Flat file integration
Accounting by Wave
Oracle EPM Cloud
8.5
Excel data integration
Accounting by Wave
Oracle EPM Cloud
8.3
Direct links to 3rd-party data sources
Accounting by Wave
Oracle EPM Cloud
6.1

Pros

  • The dashboard provides instant views of month-by month income & expenses for the past 12-24 months, a breakdown of current year expense by category, and net income for the past year and year-to-date.
  • Invoicing has easy templated set up has lots of per invoice options such as single/recurring payment options, due dates.
  • Year end reports are easy to generate in either pdf or csv format.
No photo available
  • Rolls up general ledger information from our business segments
  • Easy to replicate our business heirarchy
  • Reporting is a piece of cake
Greg Grey profile photo

Cons

  • One area of improvement for Wave would be combining the various mobile applications into one app.
  • Another room for improvement would be on the dashboard level. It would be great if they could use more bar graphs and get away from pie charts for things like expenses.
  • Some of the other areas from improvement have been addressed by recent updates so I am excited to see what else Wave brings out.
Lukas Sundahl, MBA profile photo
  • Performance when bringing in data from our business segments could be faster
  • Will be later in 2018 before FCCS is equivalent to HFM
Greg Grey 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

Implementation

No score
No answers yet
No answers on this topic
Oracle EPM Cloud7.0
Based on 6 answers
There are only a handful of Oracle Platinum partners that currently specialize in EPM implementations...talk to your Oracle sales rep to find out who those partners are.
Greg Grey 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 only used Hyperion products.
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
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

  • Wave has been ROI positive for our company. With not having to pay for the service we can use our money for growing our business.
  • The fees on credit card transactions for invoices are reasonable especially as we don't pay a monthly subscription.
  • The invoicing feature has made our lives easier for us and our customers. The invoicing piece and AR tracking has been ROI positive as well.
Lukas Sundahl, MBA profile photo
  • Net neutral thru phase 1 which encompasses consolidation and close
  • ROI will be large for phase 2, when we automate our planning and budgeting processes that are currently done in Excel
Greg Grey 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

Oracle EPM Cloud

General
Free Trial
Free/Freemium Version
Premium Consulting/Integration Services
Yes
Entry-level set up fee?
No
Additional Pricing Details
Pricing per user varies by component within the Oracle EPM Cloud solution. Please see pricing information for the EPM Cloud components on cloud.oracle.com or contact Oracle Sales at +1.800.633.0738.