What users are saying about

Accounting by Wave

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Top Rated
102 Ratings
Top Rated
31 Ratings

Accounting by Wave

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Top Rated
102 Ratings
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Score 9.1 out of 101
Top Rated
31 Ratings
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Score 8.1 out of 101

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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

Priority AccountEdge

Given the poor customer support, lack of VPN and a worthwhile web solution, I would avoid it. We are looking at switching over to Xero as an alternative.
Jay Crabtree profile photo

Feature Rating Comparison

Payroll Management

Accounting by Wave
7.9
Priority AccountEdge
8.0
Pay calculation
Accounting by Wave
8.3
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
9.0
Priority AccountEdge
6.5
API for custom integration
Accounting by Wave
8.9
Priority AccountEdge
Plug-ins
Accounting by Wave
9.1
Priority AccountEdge
6.5

Security

Accounting by Wave
8.6
Priority AccountEdge
8.9
Single sign-on capability
Accounting by Wave
9.1
Priority AccountEdge
Role-based user permissions
Accounting by Wave
8.1
Priority AccountEdge
8.9

Reporting & Analytics

Accounting by Wave
8.4
Priority AccountEdge
7.7
Dashboards
Accounting by Wave
8.4
Priority AccountEdge
7.0
Standard reports
Accounting by Wave
8.3
Priority AccountEdge
8.4
Custom reports
Accounting by Wave
8.6
Priority AccountEdge
7.8

General Ledger and Configurable Accounting

Accounting by Wave
8.2
Priority AccountEdge
7.3
Accounts payable
Accounting by Wave
8.6
Priority AccountEdge
8.8
Accounts receivable
Accounting by Wave
9.2
Priority AccountEdge
8.8
Cash management
Accounting by Wave
8.0
Priority AccountEdge
8.1
Bank reconciliation
Accounting by Wave
7.8
Priority AccountEdge
6.5
Expense management
Accounting by Wave
8.5
Priority AccountEdge
7.4
Time tracking
Accounting by Wave
7.3
Priority AccountEdge
7.1
Fixed asset management
Accounting by Wave
6.3
Priority AccountEdge
Multi-currency support
Accounting by Wave
8.5
Priority AccountEdge
9.0
Multi-division support
Accounting by Wave
7.5
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
9.0
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
8.1
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
8.0
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
8.8
Priority AccountEdge
6.6
Order Orchestration
Accounting by Wave
8.0
Priority AccountEdge
End-to-end order visibility
Accounting by Wave
4.8
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

  • Invoices are so easy to execute. Whether they are one-off or recurring, fixed or variable, single item or multiple line entries, they come out looking professional, polished and they get sent without any fuss. Put your client's info on them, add your logo, describe the services, add notes, set due dates, etc. all without cracking an abacus.
  • It's a little thing but I love how the estimates feature integrates with Invoices. You start by making an estimate for a client, with a defined expiry date. Once they accept, you can convert that estimate immediately into an Invoice and set it up to send.
  • Built-in payment processing is great. I don't have to worry about Paypal or Stripe or anything, Wave just handles my client's credit cards so I don't have to do a thing. They even have recurring billing for my retainer clients!
J.P. VanderLinden profile photo
  • Job Costing.
  • Relatively simple to work with.
  • Good visual layout.
Jay Crabtree profile photo

Cons

  • I know that credit card processing is a way for Wave to make money, but I really wish they offered ACH payment on Invoices.
  • I do cash-based accounting, which means I have to make little journal entries at the start and end of each year to get my books to balance because Wave wants to do everything differently. This should just be a setting to flip, whether you want cash-based or accrual-based.
  • They use Yodlee for bank connection, which doesn't play nice with 2FA. Pretty much every time I log in I have to re-enter credentials, get a code sent to me, reauthenticate, and know that I'm going to have to do it again next week. Not really on Wave, but wish they could get it together nonetheless.
J.P. VanderLinden profile photo
  • I would love to be able to add a second company file to my AccountEdge program. I haven't found where to do this yet.
  • I would love to be able to set my reports to default to Cash Basis reporting instead of Accrual as I sometimes print without changing this and get erroneous reports.
  • I would like to have more functionality with making custom reports.
Amy Griffie, MBA 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
I would give it a 10 except for the fact that my accountant uses Quickbooks and I'm hearing that they may be becoming more compatible for a Mac or, alternatively, have a cloud version that can be used from any type of computer. I might consider switching back to this when it is time to renew but have not made a decision at this time.
Amy Griffie, MBA 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

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
AccountEdge is more adaptable as a large and diverse inventory control system
Valerie Gabriel profile photo

Rating for Public Practice CPAs

Accounting by Wave8.0
Based on 8 answers
I think this is a good product; however it does fall short of its competitors in several areas.
Andrew Wall, CPA, CMA 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

  • Helps keep boring cash accounting more orderly and professional. I could use spreadsheets, but why?
  • Saves money over other options, with a nice UI.
Geri Lynn Peak profile photo
  • One negative impact that AccountEdge has had on my business is the ability to have my accountant help with setup/tweaking the system as there aren't many accountants out there that are familiar with this system.
  • One positive impact that AccountEdge has had on my business is that it has provided me a more in depth, detailed understanding of my bottom line using its reports (once I figured out how to rearrange the accounts to suit my business needs).
  • Employee satisfaction will be increased once I implement AccountEdge's direct deposit feature. I've had a couple of employees say they would love to have this option but I have yet to have a chance to implement it.
Amy Griffie, MBA 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.