What users are saying about

Accounting by Wave

Top Rated
97 Ratings

Accounting by Wave

Top Rated
97 Ratings
Score 9.1 out of 101

Oracle JD Edwards World

37 Ratings
Score 7.3 out of 101

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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 JD Edwards World

The payables module is great, easy access to what we owe and what we have paid to vendors. The flipside to this is the amount of invoices we have on certain accounts that we can't always access. The financial reports come out nicely and are easy to view, the easy accessibility to our users country-wide is nice.
Mike Duncan profile photo

Feature Rating Comparison

Payroll Management

Accounting by Wave
7.9
Oracle JD Edwards World
10.0
Pay calculation
Accounting by Wave
8.4
Oracle JD Edwards World
10.0
Benefit plan administration
Accounting by Wave
7.5
Oracle JD Edwards World
10.0
Direct deposit files
Accounting by Wave
8.0
Oracle JD Edwards World
Salary revision and increment management
Accounting by Wave
7.7
Oracle JD Edwards World
Reimbursement management
Accounting by Wave
8.0
Oracle JD Edwards World

Customization

Accounting by Wave
9.1
Oracle JD Edwards World
API for custom integration
Accounting by Wave
8.9
Oracle JD Edwards World
Plug-ins
Accounting by Wave
9.2
Oracle JD Edwards World

Security

Accounting by Wave
8.6
Oracle JD Edwards World
9.4
Single sign-on capability
Accounting by Wave
9.0
Oracle JD Edwards World
9.4
Role-based user permissions
Accounting by Wave
8.2
Oracle JD Edwards World
9.4

Reporting & Analytics

Accounting by Wave
8.5
Oracle JD Edwards World
9.5
Dashboards
Accounting by Wave
8.5
Oracle JD Edwards World
Standard reports
Accounting by Wave
8.3
Oracle JD Edwards World
10.0
Custom reports
Accounting by Wave
8.6
Oracle JD Edwards World
9.0

General Ledger and Configurable Accounting

Accounting by Wave
8.2
Oracle JD Edwards World
9.6
Accounts payable
Accounting by Wave
8.5
Oracle JD Edwards World
9.4
Accounts receivable
Accounting by Wave
9.2
Oracle JD Edwards World
10.0
Cash management
Accounting by Wave
8.2
Oracle JD Edwards World
Bank reconciliation
Accounting by Wave
7.8
Oracle JD Edwards World
Expense management
Accounting by Wave
8.6
Oracle JD Edwards World
Time tracking
Accounting by Wave
7.3
Oracle JD Edwards World
Fixed asset management
Accounting by Wave
6.2
Oracle JD Edwards World
Multi-currency support
Accounting by Wave
8.6
Oracle JD Edwards World
Multi-division support
Accounting by Wave
7.6
Oracle JD Edwards World
Regulations compliance
Accounting by Wave
7.3
Oracle JD Edwards World
Electronic tax filing
Accounting by Wave
6.0
Oracle JD Edwards World
Self-service portal
Accounting by Wave
9.1
Oracle JD Edwards World
Global Financial Support
Accounting by Wave
9.0
Oracle JD Edwards World
9.0
Primary and Secondary Ledgers
Accounting by Wave
9.3
Oracle JD Edwards World
10.0
Intercompany Accounting
Accounting by Wave
8.7
Oracle JD Edwards World
9.0
Localizations
Accounting by Wave
9.5
Oracle JD Edwards World
10.0
Journals and Reconciliations
Accounting by Wave
8.4
Oracle JD Edwards World
9.0
Enterprise Accounting
Accounting by Wave
8.7
Oracle JD Edwards World
Configurable Accounting
Accounting by Wave
8.5
Oracle JD Edwards World
Centralized Rules Framework
Accounting by Wave
9.0
Oracle JD Edwards World
Standardized Processes
Accounting by Wave
7.9
Oracle JD Edwards World
10.0

Inventory Management

Accounting by Wave
8.9
Oracle JD Edwards World
10.0
Inventory tracking
Accounting by Wave
9.5
Oracle JD Edwards World
10.0
Automatic reordering
Accounting by Wave
8.0
Oracle JD Edwards World
Location management
Accounting by Wave
9.0
Oracle JD Edwards World
Manufacturing module
Accounting by Wave
9.0
Oracle JD Edwards World

Order Management

Accounting by Wave
7.9
Oracle JD Edwards World
10.0
Pricing
Accounting by Wave
8.3
Oracle JD Edwards World
10.0
Order entry
Accounting by Wave
8.3
Oracle JD Edwards World
10.0
Credit card processing
Accounting by Wave
9.1
Oracle JD Edwards World
Cost of goods sold
Accounting by Wave
8.9
Oracle JD Edwards World
Order Orchestration
Accounting by Wave
8.0
Oracle JD Edwards World
End-to-end order visibility
Accounting by Wave
4.7
Oracle JD Edwards World
Order exception Resolution
Accounting by Wave
8.0
Oracle JD Edwards World

Accounting Firm BPO Features

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

Subledger and Financial Process

Accounting by Wave
Oracle JD Edwards World
9.4
Automated Invoice Processing
Accounting by Wave
Oracle JD Edwards World
9.4
Cash Management
Accounting by Wave
Oracle JD Edwards World
9.4
Asset Management
Accounting by Wave
Oracle JD Edwards World
9.0
Travel & Expense Management
Accounting by Wave
Oracle JD Edwards World
9.0
Period Close
Accounting by Wave
Oracle JD Edwards World
10.0

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
  • The payables module is great, easy access to what we have paid and what we need to pay.
  • We can do all of our financial statements, it helps get our P7L's out in timely matter each month.
  • The easy integration with our image system, makes it accesilble for users to click on invoice numbers in JDE and get an image of that invoice.
Mike Duncan profile photo

Cons

  • Transaction coding could be smoother and offer better search options.
  • Flagging payments before transactions have been uploaded means you have to delete the old notice in order to connect the transaction to an invoice and the billing (expenses) system is always a few steps behind invoices (sales)
  • 1099 tracking and submission would be much appreciated!
Geri Lynn Peak profile photo
  • One issue is the number of records I can access, wish it was more
  • We have large vendors with thousands of invoices, and I can't always get to them due to size.
  • Sometimes hard to change reports.
Mike Duncan 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'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
No other products.
Mike Duncan 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

  • I'm getting paid faster than my previous billing methods.
  • Accounting features keep me organized all in 1 place
  • If / when I need payroll, I will use Wave
No photo available
  • Easy way to pay our vendors.
  • Easy process for closing periods.
  • Nice financial reporting.
Mike Duncan 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 JD Edwards World

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