What users are saying about

Accounting by Wave

Top Rated
97 Ratings

Accounting by Wave

Top Rated
97 Ratings
Score 9 out of 101

Oracle Financials Cloud

10 Ratings
Score 8.1 out of 101

Add comparison

Likelihood to Recommend

Accounting by Wave

I have recommended it to many small businesses because first off, it works. Setup and daily use it is easy. There is no cost outside of any payment transaction processing fees. You can probably find lower fees, but they are not out of line with other services.
No photo available

Oracle Financials Cloud

If your business has plans that include aggressive growth
and aspires to be a best-in-class organization, your IT
systems and applications need to be up to the task.
Homegrown solutions created for a smaller business or
outdated commercial software can hamper your plans for
growth. If your IT infrastructure and maintenance costs
are affecting your ability to grow, then a cloud-based ERP
suite is well worth exploring.
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Feature Rating Comparison

Payroll Management

Accounting by Wave
7.9
Oracle Financials Cloud
9.8
Pay calculation
Accounting by Wave
8.4
Oracle Financials Cloud
10.0
Benefit plan administration
Accounting by Wave
7.5
Oracle Financials Cloud
9.0
Direct deposit files
Accounting by Wave
8.0
Oracle Financials Cloud
Salary revision and increment management
Accounting by Wave
7.7
Oracle Financials Cloud
10.0
Reimbursement management
Accounting by Wave
8.0
Oracle Financials Cloud
10.0

Customization

Accounting by Wave
9.1
Oracle Financials Cloud
10.0
API for custom integration
Accounting by Wave
8.9
Oracle Financials Cloud
10.0
Plug-ins
Accounting by Wave
9.2
Oracle Financials Cloud
10.0

Security

Accounting by Wave
8.6
Oracle Financials Cloud
10.0
Single sign-on capability
Accounting by Wave
9.0
Oracle Financials Cloud
Role-based user permissions
Accounting by Wave
8.2
Oracle Financials Cloud
10.0

Reporting & Analytics

Accounting by Wave
8.5
Oracle Financials Cloud
9.7
Dashboards
Accounting by Wave
8.4
Oracle Financials Cloud
10.0
Standard reports
Accounting by Wave
8.3
Oracle Financials Cloud
10.0
Custom reports
Accounting by Wave
8.6
Oracle Financials Cloud
9.0

General Ledger and Configurable Accounting

Accounting by Wave
8.2
Oracle Financials Cloud
9.3
Accounts payable
Accounting by Wave
8.4
Oracle Financials Cloud
10.0
Accounts receivable
Accounting by Wave
9.1
Oracle Financials Cloud
10.0
Cash management
Accounting by Wave
8.1
Oracle Financials Cloud
10.0
Bank reconciliation
Accounting by Wave
7.8
Oracle Financials Cloud
9.0
Expense management
Accounting by Wave
8.5
Oracle Financials Cloud
10.0
Time tracking
Accounting by Wave
7.3
Oracle Financials Cloud
9.0
Fixed asset management
Accounting by Wave
5.2
Oracle Financials Cloud
10.0
Multi-currency support
Accounting by Wave
8.6
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
10.0
Self-service portal
Accounting by Wave
9.1
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
8.0
Intercompany Accounting
Accounting by Wave
8.7
Oracle Financials Cloud
9.0
Localizations
Accounting by Wave
9.5
Oracle Financials Cloud
8.0
Journals and Reconciliations
Accounting by Wave
8.4
Oracle Financials Cloud
8.0
Enterprise Accounting
Accounting by Wave
8.7
Oracle Financials Cloud
9.0
Configurable Accounting
Accounting by Wave
8.7
Oracle Financials Cloud
10.0
Centralized Rules Framework
Accounting by Wave
9.0
Oracle Financials Cloud
Standardized Processes
Accounting by Wave
7.9
Oracle Financials Cloud
7.0

Inventory Management

Accounting by Wave
8.9
Oracle Financials Cloud
10.0
Inventory tracking
Accounting by Wave
9.5
Oracle Financials Cloud
10.0
Automatic reordering
Accounting by Wave
8.0
Oracle Financials Cloud
Location management
Accounting by Wave
9.0
Oracle Financials Cloud
Manufacturing module
Accounting by Wave
9.0
Oracle Financials Cloud
10.0

Order Management

Accounting by Wave
7.8
Oracle Financials Cloud
8.7
Pricing
Accounting by Wave
8.1
Oracle Financials Cloud
10.0
Order entry
Accounting by Wave
8.0
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
4.7
Oracle Financials Cloud
4.0
Order exception Resolution
Accounting by Wave
8.0
Oracle Financials Cloud
7.0

Accounting Firm BPO Features

Accounting by Wave
8.0
Oracle Financials Cloud
9.8
Branded client dashboards
Accounting by Wave
8.0
Oracle Financials Cloud
Client data roll-up capabilities
Accounting by Wave
8.0
Oracle Financials Cloud
Client data consolidation for benchmarking
Accounting by Wave
7.5
Oracle Financials Cloud
Configurable alerts
Accounting by Wave
8.0
Oracle Financials Cloud
Billing bypass
Accounting by Wave
8.0
Oracle Financials Cloud
9.0
Client template cloning
Accounting by Wave
8.0
Oracle Financials Cloud
10.0
Single sign-on
Accounting by Wave
9.0
Oracle Financials Cloud
Configurable client onboarding questions
Accounting by Wave
8.0
Oracle Financials Cloud
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

  • 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
  • It’s all in one solution for all major needs of business.
  • You can integrate all Oracle systems with each other, which gives you a perfect result, because the entire system is developed within a group.
  • Oracles EBS provides you integration with advanced technologies including Web Server, Java and Apache.
  • As compared to other ERP’s deployments, EBS implements at a lower cost.
  • It offers you customized reporting features with which you can create a dashboard as per business needs.
No photo available

Cons

  • Sales Tax Automation. I don't even know how this would be possible but as an Ontario resident I would love to explore a way I could create parameters based on certain expenses and automatically add the HST.
  • AI for categorizations. Wave does an alright job of taking a guess at the expense categories in the data from our payment accounts. A little more would be a fine addition.
  • Speed. Sometimes I find it can be a little sluggish. Not all the time, but some.
John Galbraith profile photo
  • The functions EBS offers are not user friendly. Therefore, you might need a training in order to understand EBS features.
  • It only works on best practices of businesses. It's not possible to create your own process flow.
  • EBS provides you all the processes which have been in practicing in businesses globally.
  • The cost of system is higher. Go with EBS only if you are a Medium level or above enterprise.
  • Sometime it works slow, when you export the heavy files.
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
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

I'd say Wave is more user friendly and has more functionality than Sage One. It has less functionality than Kashflow and QuickBooks, but it's easier to use. Xero is probably better all round, but that's the most expensive. Wave was originally selected by us, and still used by us and our clients because it's free and works great for our needs.
Paul Colman FCA profile photo
No answers on this topic

Rating for Public Practice CPAs

Accounting by Wave8.0
Based on 8 answers
It's easy and quick to setup. It's user friendly and doesn't use too much jargon so my clients understand it and use it properly. It allows me to switch between different clients quickly so I can respond to any queries by looking at the same data.
Paul Colman FCA 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

  • Faster bookkeeping
  • Better accounting records
  • Cheaper accountants fees
Paul Colman FCA profile photo
  • Integration of information, resulting in efficiency, transparency and effective MIS.
  • Error reduction, accuracy of inventory record.
  • Establishment of standardized procedures
  • Reduction in the cost of after sales services.
No photo available

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