What users are saying about

Accounting by Wave

Top Rated
97 Ratings

Priority AccountEdge

Top Rated
31 Ratings

Accounting by Wave

Top Rated
97 Ratings
Score 9.1 out of 101

Priority AccountEdge

Top Rated
31 Ratings
Score 8.1 out of 101

Add comparison

Likelihood to Recommend

Accounting by Wave

Wave is well suited for small businesses looking to have an accounting service that won't hinder profitability. Wave is a great service for a small business owner just starting out and is flexible enough to meet demands of larger businesses. Wave even offers a paid payroll service if needed for any business owner. The ease of use with Wave makes it perfect for non-accountants, and for accountants they have tools available that they are used to seeing with other accounting software.
Lukas Sundahl, MBA profile photo

Priority AccountEdge

If you are handling a large client list, and are selling services, it is dead easy. If you are managing/selling a physical inventory, it seems like it has great options to do that quite well (disclaimer, I do not use those functions, but I have paid attention as that functionality was built into the software). If you want to link your bank account to a bookkeeping platform, this is not the software for you (at least so far).
Dan Workman profile photo

Feature Rating Comparison

Payroll Management

Accounting by Wave
7.9
Priority AccountEdge
8.0
Pay calculation
Accounting by Wave
8.4
Priority AccountEdge
8.5
Benefit plan administration
Accounting by Wave
7.5
Priority AccountEdge
7.0
Direct deposit files
Accounting by Wave
8.0
Priority AccountEdge
9.0
Salary revision and increment management
Accounting by Wave
7.7
Priority AccountEdge
7.5
Reimbursement management
Accounting by Wave
8.0
Priority AccountEdge
8.1

Customization

Accounting by Wave
9.1
Priority AccountEdge
6.5
API for custom integration
Accounting by Wave
8.9
Priority AccountEdge
Plug-ins
Accounting by Wave
9.2
Priority AccountEdge
6.5

Security

Accounting by Wave
8.6
Priority AccountEdge
9.0
Single sign-on capability
Accounting by Wave
9.0
Priority AccountEdge
Role-based user permissions
Accounting by Wave
8.2
Priority AccountEdge
9.0

Reporting & Analytics

Accounting by Wave
8.5
Priority AccountEdge
7.7
Dashboards
Accounting by Wave
8.5
Priority AccountEdge
7.0
Standard reports
Accounting by Wave
8.3
Priority AccountEdge
8.4
Custom reports
Accounting by Wave
8.6
Priority AccountEdge
7.7

General Ledger and Configurable Accounting

Accounting by Wave
8.2
Priority AccountEdge
7.3
Accounts payable
Accounting by Wave
8.5
Priority AccountEdge
8.8
Accounts receivable
Accounting by Wave
9.2
Priority AccountEdge
8.8
Cash management
Accounting by Wave
8.2
Priority AccountEdge
8.1
Bank reconciliation
Accounting by Wave
7.8
Priority AccountEdge
6.5
Expense management
Accounting by Wave
8.6
Priority AccountEdge
7.4
Time tracking
Accounting by Wave
7.3
Priority AccountEdge
7.1
Fixed asset management
Accounting by Wave
6.2
Priority AccountEdge
Multi-currency support
Accounting by Wave
8.6
Priority AccountEdge
9.0
Multi-division support
Accounting by Wave
7.6
Priority AccountEdge
9.1
Regulations compliance
Accounting by Wave
7.3
Priority AccountEdge
8.0
Electronic tax filing
Accounting by Wave
6.0
Priority AccountEdge
5.0
Self-service portal
Accounting by Wave
9.1
Priority AccountEdge
2.7
Global Financial Support
Accounting by Wave
9.0
Priority AccountEdge
Primary and Secondary Ledgers
Accounting by Wave
9.3
Priority AccountEdge
Intercompany Accounting
Accounting by Wave
8.7
Priority AccountEdge
Localizations
Accounting by Wave
9.5
Priority AccountEdge
Journals and Reconciliations
Accounting by Wave
8.4
Priority AccountEdge
Enterprise Accounting
Accounting by Wave
8.7
Priority AccountEdge
Configurable Accounting
Accounting by Wave
8.5
Priority AccountEdge
Centralized Rules Framework
Accounting by Wave
9.0
Priority AccountEdge
Standardized Processes
Accounting by Wave
7.9
Priority AccountEdge

Inventory Management

Accounting by Wave
8.9
Priority AccountEdge
7.9
Inventory tracking
Accounting by Wave
9.5
Priority AccountEdge
7.7
Automatic reordering
Accounting by Wave
8.0
Priority AccountEdge
8.0
Location management
Accounting by Wave
9.0
Priority AccountEdge
8.0
Manufacturing module
Accounting by Wave
9.0
Priority AccountEdge
8.0

Order Management

Accounting by Wave
7.9
Priority AccountEdge
7.0
Pricing
Accounting by Wave
8.3
Priority AccountEdge
6.5
Order entry
Accounting by Wave
8.3
Priority AccountEdge
7.4
Credit card processing
Accounting by Wave
9.1
Priority AccountEdge
7.4
Cost of goods sold
Accounting by Wave
8.9
Priority AccountEdge
6.6
Order Orchestration
Accounting by Wave
8.0
Priority AccountEdge
End-to-end order visibility
Accounting by Wave
4.7
Priority AccountEdge
Order exception Resolution
Accounting by Wave
8.0
Priority AccountEdge

Accounting Firm BPO Features

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

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
  • Job Costing.
  • Relatively simple to work with.
  • Good visual layout.
Jay Crabtree profile photo

Cons

  • Not too much to complain about with Wave although I do wish they kept an audit trail of all invoice reminders sent, changes in the invoice, and have the ability to pull reports with this data. This functionality would be great to review clients as a whole to determine profitability and time spent with these clients.
  • 9% processing fees for all cards which is a bit higher than some of the competitors like Blue Pay. The pro to this though is there's no monthly commitment or monthly service fees.
Matthew Gehrman profile photo
  • Poor customer support.
  • Buggy software.
  • No VPN support.
  • Weak reporting, with limited customization.
  • Not well integrated or supported by many other solutions.
  • Their mobile platform is absolutely horrible.
  • Their payroll solution is awkward, and buggy.
Jay Crabtree 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
Priority AccountEdge8.8
Based on 10 answers
Ease-of-use. Robust reporting, and analytics. The software works, and could easily be the only software you use.
Jeremy Doyle profile photo

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
Priority AccountEdge8.2
Based on 2 answers
AccountEdge Pro & Basic is laid out in easy to use centers which compartmentalize a users needs based on departments. Along with that one can set up recurring transactions for things that repeat daily through annually and anything in between. You can set a preference for automatic posting or a user specific reminder to post the action
joAnn Ortiz profile photo

Reliability and Availability

Accounting by Wave6.7
Based on 4 answers
WAVE is always available when we need it ! Peter
Peter Cullen profile photo
Priority AccountEdge9.1
Based on 1 answer
One of the finer advantages of desktop software, it's always available. AccountEdge doesn't suffer from outages or sluggish internet like web based applications do. It's always there when you power on your device!
joAnn Ortiz profile photo

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
Priority AccountEdge5.5
Based on 2 answers
Rarely do we get support due to it costing money. Sell us on a Monthly service, bump up your CRM and Marketing and AccountEdge could easily be getting $2k/ month from us.
Jeremy Doyle profile photo

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
Priority AccountEdge7.0
Based on 1 answer
unfortunately no.
Jeremy Doyle profile photo

Alternatives Considered

I was never able to figure out Gnu cash so I had to mostly use excel, until I found Wave
Torrey Holman profile photo
AccountEdge is a much easier product to learn, and it is also much better integrated. That being said, AccountEdge could definitely use a few updates to bring it forward into today's world of technology.
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

  • 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
  • Employee efficiency
  • Strong reports to see at-a-glance where sales are
  • Inventory - Cut down on loss of product
Jeremy Doyle profile photo

Screenshots

Accounting by Wave

Pricing Details

Accounting by Wave

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

Priority AccountEdge

General
Free Trial
Yes
Free/Freemium Version
Premium Consulting/Integration Services
Yes
Entry-level set up fee?
No
Additional Pricing Details
AccountEdge is available to new customers for $399. Optional product upgrades are released every year for $159 single-user upgrade or $249 multi-user upgrade.