What users are saying about
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Top Rated
105 Ratings

Accounting by Wave

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Top Rated
105 Ratings
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Score 9.1 out of 101
11 Ratings
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Score 9.5 out of 101

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 Financials Cloud

Oracle Financials Cloud is a great product. It is used in various industries all over the world. It helps in meeting the regulatory requirements in various geographies. It is easily scalable as the companies grow. We are in the construction industry and we use retainage in our projects. We could not figure out a way to make it work as of now. It will be great if the retainage feature is added soon in the Cloud. Allocation in general ledgers is complex as of now. I think, it can be made easier and simpler.
Shiva Krishna profile photo

Feature Rating Comparison

Payroll Management

Accounting by Wave
7.9
Oracle Financials Cloud
8.6
Pay calculation
Accounting by Wave
8.2
Oracle Financials Cloud
8.0
Benefit plan administration
Accounting by Wave
7.5
Oracle Financials Cloud
9.0
Direct deposit files
Accounting by Wave
8.0
Oracle Financials Cloud
9.0
Salary revision and increment management
Accounting by Wave
7.7
Oracle Financials Cloud
8.0
Reimbursement management
Accounting by Wave
8.0
Oracle Financials Cloud
9.0

Customization

Accounting by Wave
8.8
Oracle Financials Cloud
8.5
API for custom integration
Accounting by Wave
8.7
Oracle Financials Cloud
9.0
Plug-ins
Accounting by Wave
8.8
Oracle Financials Cloud
8.0

Security

Accounting by Wave
8.5
Oracle Financials Cloud
9.5
Single sign-on capability
Accounting by Wave
9.1
Oracle Financials Cloud
10.0
Role-based user permissions
Accounting by Wave
7.9
Oracle Financials Cloud
9.0

Reporting & Analytics

Accounting by Wave
8.5
Oracle Financials Cloud
9.2
Dashboards
Accounting by Wave
8.5
Oracle Financials Cloud
9.0
Standard reports
Accounting by Wave
8.3
Oracle Financials Cloud
9.5
Custom reports
Accounting by Wave
8.6
Oracle Financials Cloud
9.0

General Ledger and Configurable Accounting

Accounting by Wave
8.3
Oracle Financials Cloud
9.8
Accounts payable
Accounting by Wave
8.6
Oracle Financials Cloud
9.5
Accounts receivable
Accounting by Wave
9.2
Oracle Financials Cloud
9.5
Cash management
Accounting by Wave
8.1
Oracle Financials Cloud
9.5
Bank reconciliation
Accounting by Wave
7.9
Oracle Financials Cloud
9.5
Expense management
Accounting by Wave
8.6
Oracle Financials Cloud
10.0
Time tracking
Accounting by Wave
7.5
Oracle Financials Cloud
9.0
Fixed asset management
Accounting by Wave
6.8
Oracle Financials Cloud
10.0
Multi-currency support
Accounting by Wave
8.3
Oracle Financials Cloud
10.0
Multi-division support
Accounting by Wave
7.4
Oracle Financials Cloud
10.0
Regulations compliance
Accounting by Wave
7.3
Oracle Financials Cloud
10.0
Electronic tax filing
Accounting by Wave
6.0
Oracle Financials Cloud
8.0
Self-service portal
Accounting by Wave
8.9
Oracle Financials Cloud
10.0
Global Financial Support
Accounting by Wave
9.0
Oracle Financials Cloud
10.0
Primary and Secondary Ledgers
Accounting by Wave
9.3
Oracle Financials Cloud
10.0
Intercompany Accounting
Accounting by Wave
8.6
Oracle Financials Cloud
10.0
Localizations
Accounting by Wave
9.5
Oracle Financials Cloud
10.0
Journals and Reconciliations
Accounting by Wave
8.2
Oracle Financials Cloud
10.0
Enterprise Accounting
Accounting by Wave
8.7
Oracle Financials Cloud
10.0
Configurable Accounting
Accounting by Wave
8.7
Oracle Financials Cloud
10.0
Centralized Rules Framework
Accounting by Wave
9.0
Oracle Financials Cloud
10.0
Standardized Processes
Accounting by Wave
8.1
Oracle Financials Cloud
10.0

Inventory Management

Accounting by Wave
8.9
Oracle Financials Cloud
8.8
Inventory tracking
Accounting by Wave
9.5
Oracle Financials Cloud
9.5
Automatic reordering
Accounting by Wave
8.0
Oracle Financials Cloud
9.0
Location management
Accounting by Wave
9.0
Oracle Financials Cloud
8.5
Manufacturing module
Accounting by Wave
9.0
Oracle Financials Cloud
8.0

Order Management

Accounting by Wave
8.0
Oracle Financials Cloud
10.0
Pricing
Accounting by Wave
8.3
Oracle Financials Cloud
10.0
Order entry
Accounting by Wave
8.4
Oracle Financials Cloud
10.0
Credit card processing
Accounting by Wave
9.1
Oracle Financials Cloud
10.0
Cost of goods sold
Accounting by Wave
8.8
Oracle Financials Cloud
10.0
Order Orchestration
Accounting by Wave
8.0
Oracle Financials Cloud
10.0
End-to-end order visibility
Accounting by Wave
5.5
Oracle Financials Cloud
10.0
Order exception Resolution
Accounting by Wave
8.0
Oracle Financials Cloud
10.0

Accounting Firm BPO Features

Accounting by Wave
8.0
Oracle Financials Cloud
9.6
Branded client dashboards
Accounting by Wave
8.0
Oracle Financials Cloud
9.0
Client data roll-up capabilities
Accounting by Wave
8.0
Oracle Financials Cloud
9.0
Client data consolidation for benchmarking
Accounting by Wave
7.5
Oracle Financials Cloud
10.0
Configurable alerts
Accounting by Wave
8.0
Oracle Financials Cloud
8.0
Billing bypass
Accounting by Wave
8.0
Oracle Financials Cloud
10.0
Client template cloning
Accounting by Wave
8.0
Oracle Financials Cloud
10.0
Single sign-on
Accounting by Wave
9.0
Oracle Financials Cloud
10.0
Configurable client onboarding questions
Accounting by Wave
8.0
Oracle Financials Cloud
10.0
Cross-client workflow management
Accounting by Wave
8.0
Oracle Financials Cloud
10.0
Industry-specific versioning
Accounting by Wave
8.0
Oracle Financials Cloud
10.0
Legacy system data migration
Accounting by Wave
8.0
Oracle Financials Cloud
10.0

Pros

Accounting by Wave

  • tracks and categorizes financial transactions with a direct link to bank accounts and credit cards - helpful since there is no manual input outside of verifying that a category is correct
  • easily creates invoices without the need to input customer information more than once. you can also send directly from the platform and toggle the option to accept credit card and ACH payments
  • creates financial reports with ease
Kristy Nittskoff profile photo

Oracle Financials Cloud

  • User-friendly, intuitive interface. Comes with dashboards and inbuilt analytics.
  • Comes with inbuilt collaboration tools, which helps in achieving efficiency through inter and intradepartmental collaboration.
  • Helps in closing the books on time with automated reconciliations.
  • Helps with ease of use and streamlined business process.
Shiva Krishna profile photo

Cons

Accounting by Wave

  • connection to bank sometimes lags - you can refresh the connection but it takes a minute or two to update
  • sometimes invoices are categorized as sales versus consulting income - you really have to look and change it to the appropriate income account. once an invoice is recorded as paid, you can change the income account
  • Wave has a tendency of not accepting a saved password, forcing users to reset a password that is knowingly valid. Using Single Sign On eliminates this but it's still annoying.
Kristy Nittskoff profile photo

Oracle Financials Cloud

  • All the features available in the Oracle E-business Suite application are not available yet. Oracle is working hard to bring them in. The sooner the better.
  • The Oracle support needs to improve. More information needs to be provided on Oracle's support website.
  • Oracle needs to give importance to the Oracle community. So that more users use it and more people find help in it.
  • Oracle should disseminate the information freely on various products, issues, etc. The information is not available in an easily accessible way.
  • There is scope for improvement in the user guides. They should be simple with diagrams, pictures, etc. As of now, it is not easy to understand from the documentation.
Shiva Krishna profile photo

Likelihood to Renew

Accounting by Wave

Accounting by Wave 7.8
Based on 3 answers
Easy to use for clients with no accounting background and the price is right.
Jeanne Harris profile photo

Oracle Financials Cloud

No score
No answers yet
No answers on this topic

Usability

Accounting by Wave

Accounting by Wave 5.3
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

Oracle Financials Cloud

No score
No answers yet
No answers on this topic

Reliability and Availability

Accounting by Wave

Accounting by Wave 6.7
Based on 4 answers
WAVE is always available when we need it ! Peter
Peter Cullen profile photo

Oracle Financials Cloud

No score
No answers yet
No answers on this topic

Performance

Accounting by Wave

Accounting by Wave 2.9
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

Oracle Financials Cloud

No score
No answers yet
No answers on this topic

Support

Accounting by Wave

Accounting by Wave 9.0
Based on 1 answer
If they had live chat service then I'd rate this a 10.
Matthew Gehrman profile photo

Oracle Financials Cloud

No score
No answers yet
No answers on this topic

Online Training

Accounting by Wave

Accounting by Wave 4.7
Based on 3 answers
easy to use and east to train on ! Our WAVE clients enjoy the ease of use
Peter Cullen profile photo

Oracle Financials Cloud

No score
No answers yet
No answers on this topic

Alternatives Considered

Accounting by Wave

Across the board Wave takes the cake on price at $0/mo aside from payroll fees and credit card processing. That aside I'd say most accounting systems are fairly similar, however what I like about Wave is just how simple the interface is and the outstanding customer support from both the community and the company.
Matthew Gehrman profile photo

Oracle Financials Cloud

We evaluated various systems like Workday, Salesforce, Basware, etc. We were already using Oracle E-Business Suite, hence we are familiar with Oracle and worked well with them, hence we chose Oracle cloud.
Shiva Krishna profile photo

Scalability

Accounting by Wave

Accounting by Wave 3.0
Based on 2 answers
Once they out grow what is ability to move up to a more robust system?
Penny Breslin profile photo

Oracle Financials Cloud

No score
No answers yet
No answers on this topic

Return on Investment

Accounting by Wave

  • 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

Oracle Financials Cloud

  • By retiring old disparate systems, we saved a lot of money.
  • We saved money in integrations as Oracle has a well integrated suite of applications in all modules.
  • Our users were happy as the system has the latest and modern look and feel.
Shiva Krishna 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 Financials Cloud

General

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

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