What users are saying about

Accounting by Wave

Top Rated
97 Ratings

OSAS

4 Ratings

Accounting by Wave

Top Rated
97 Ratings
Score 9.1 out of 101

OSAS

4 Ratings
Score 1.3 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

OSAS

I honestly think that it's extremely outdated and don't understand why anyone would still use it. Especially in a non-profit setting. In our field we have to be able to track revenue and expenses by funds, and with the way those funding streams tend to cross an agency or company's fiscal year, the fact that it is virtually impossible to pull the information in that manner restricts a finance department more than anything.
Jessica Leffler profile photo

Feature Rating Comparison

Payroll Management

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

Customization

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

Security

Accounting by Wave
8.6
OSAS
5.5
Single sign-on capability
Accounting by Wave
9.0
OSAS
5.0
Role-based user permissions
Accounting by Wave
8.2
OSAS
6.0

Reporting & Analytics

Accounting by Wave
8.5
OSAS
2.0
Dashboards
Accounting by Wave
8.5
OSAS
Standard reports
Accounting by Wave
8.3
OSAS
3.0
Custom reports
Accounting by Wave
8.6
OSAS
1.0

General Ledger and Configurable Accounting

Accounting by Wave
8.2
OSAS
1.8
Accounts payable
Accounting by Wave
8.5
OSAS
2.0
Accounts receivable
Accounting by Wave
9.2
OSAS
Cash management
Accounting by Wave
8.2
OSAS
Bank reconciliation
Accounting by Wave
7.8
OSAS
Expense management
Accounting by Wave
8.6
OSAS
Time tracking
Accounting by Wave
7.3
OSAS
Fixed asset management
Accounting by Wave
6.2
OSAS
Multi-currency support
Accounting by Wave
8.6
OSAS
Multi-division support
Accounting by Wave
7.6
OSAS
Regulations compliance
Accounting by Wave
7.3
OSAS
Electronic tax filing
Accounting by Wave
6.0
OSAS
Self-service portal
Accounting by Wave
9.1
OSAS
Global Financial Support
Accounting by Wave
9.0
OSAS
Primary and Secondary Ledgers
Accounting by Wave
9.3
OSAS
Intercompany Accounting
Accounting by Wave
8.7
OSAS
Localizations
Accounting by Wave
9.5
OSAS
Journals and Reconciliations
Accounting by Wave
8.4
OSAS
Enterprise Accounting
Accounting by Wave
8.7
OSAS
Configurable Accounting
Accounting by Wave
8.5
OSAS
Centralized Rules Framework
Accounting by Wave
9.0
OSAS
Standardized Processes
Accounting by Wave
7.9
OSAS

Inventory Management

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

Order Management

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

Accounting Firm BPO Features

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

Pros

  • The ease of use with Wave makes it a great tool. Someone without much accounting experience can jump in and use the software.
  • The reports features in Wave make looking at financial statements a breeze. In addition you can quickly drill down into expense categories to see all transactions of a certain type.
  • It is very easy to generate a sales invoice and see the average period for our company to get paid.
  • I love the Wave Invoice app where we can track invoices on the go and verify payment history.
Lukas Sundahl, MBA profile photo
  • No confusing reporting.
  • Easy to follow interface.
  • Simplified experience.
Jessica Leffler profile photo

Cons

  • 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
  • Not user-friendly or intuitive in the least. Even with the instruction manual, it's like part of it is missing or you are expected to know certain items before even looking.
  • Reporting is very basic and impossible to customize on the user's end. You must have tech support build them for you. Also, no cross fiscal year reporting.
  • Can't cut only one check if you have other invoices already entered in the batch.
  • The chart of account codes are not independent. You must build your whole GL for each fund source or program, which leaves you with an unwieldy chart of accounts.
Jessica Leffler 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 better in being my one place to go for collecting payments. PayPal is nice if you're on the road collecting payments through their app and using PayPal Here, but if you would like to keep invoicing in the same place as your bookkeeping, I think Wave is a better-integrated solution.
Carl Grivakis profile photo
If you've used CYMA, you'll be familiar with the way OSAS builds the GL, however CYMA is light years ahead of OSAS. If you've used anything like Abila MIP, you'll understand the comparison when I say "Abila is like using power tools to build your bookcase, CYMA is like using a hand saw and hammer, and OSAS is using a chisel to carve one out of wood." They all will get the job done and at the end of the day, you have a book case. But depending on which tools you use will either be ready for a library or a couple of small tomes. I didn't select OSAS, and never would it have been given consideration to be used as my accounting software
Jessica Leffler profile photo

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

  • 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
  • We have to do so much tracking of expenses by hand, that using OSAS doesn't save us any money in that respect.
  • I believe my predecessor used OSAS for over 15 years so she obviously felt comfortable with it. I can make do with it and at least track my bottom line.
  • No real reporting other than basic balance sheets.
Jessica Leffler 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

OSAS

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