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Accounting by Wave

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102 Ratings
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Accounting by Wave

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Top Rated
102 Ratings
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Score 9.1 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

Questica Budget

No answers on this topic

Feature Rating Comparison

Payroll Management

Accounting by Wave
7.9
Questica Budget
Pay calculation
Accounting by Wave
8.3
Questica Budget
Benefit plan administration
Accounting by Wave
7.5
Questica Budget
Direct deposit files
Accounting by Wave
8.0
Questica Budget
Salary revision and increment management
Accounting by Wave
7.7
Questica Budget
Reimbursement management
Accounting by Wave
8.0
Questica Budget

Customization

Accounting by Wave
9.0
Questica Budget
API for custom integration
Accounting by Wave
8.9
Questica Budget
Plug-ins
Accounting by Wave
9.1
Questica Budget

Security

Accounting by Wave
8.6
Questica Budget
Single sign-on capability
Accounting by Wave
9.1
Questica Budget
Role-based user permissions
Accounting by Wave
8.1
Questica Budget

Reporting & Analytics

Accounting by Wave
8.4
Questica Budget
Dashboards
Accounting by Wave
8.4
Questica Budget
Standard reports
Accounting by Wave
8.3
Questica Budget
Custom reports
Accounting by Wave
8.6
Questica Budget

General Ledger and Configurable Accounting

Accounting by Wave
8.2
Questica Budget
Accounts payable
Accounting by Wave
8.6
Questica Budget
Accounts receivable
Accounting by Wave
9.2
Questica Budget
Cash management
Accounting by Wave
8.0
Questica Budget
Bank reconciliation
Accounting by Wave
7.8
Questica Budget
Expense management
Accounting by Wave
8.5
Questica Budget
Time tracking
Accounting by Wave
7.3
Questica Budget
Fixed asset management
Accounting by Wave
6.3
Questica Budget
Multi-currency support
Accounting by Wave
8.5
Questica Budget
Multi-division support
Accounting by Wave
7.5
Questica Budget
Regulations compliance
Accounting by Wave
7.3
Questica Budget
Electronic tax filing
Accounting by Wave
6.0
Questica Budget
Self-service portal
Accounting by Wave
9.0
Questica Budget
Global Financial Support
Accounting by Wave
9.0
Questica Budget
Primary and Secondary Ledgers
Accounting by Wave
9.3
Questica Budget
Intercompany Accounting
Accounting by Wave
8.7
Questica Budget
Localizations
Accounting by Wave
9.5
Questica Budget
Journals and Reconciliations
Accounting by Wave
8.1
Questica Budget
Enterprise Accounting
Accounting by Wave
8.7
Questica Budget
Configurable Accounting
Accounting by Wave
8.5
Questica Budget
Centralized Rules Framework
Accounting by Wave
9.0
Questica Budget
Standardized Processes
Accounting by Wave
8.0
Questica Budget

Inventory Management

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

Order Management

Accounting by Wave
7.9
Questica Budget
Pricing
Accounting by Wave
8.3
Questica Budget
Order entry
Accounting by Wave
8.3
Questica Budget
Credit card processing
Accounting by Wave
9.1
Questica Budget
Cost of goods sold
Accounting by Wave
8.8
Questica Budget
Order Orchestration
Accounting by Wave
8.0
Questica Budget
End-to-end order visibility
Accounting by Wave
4.8
Questica Budget
Order exception Resolution
Accounting by Wave
8.0
Questica Budget

Accounting Firm BPO Features

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

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
No answers on this topic

Cons

  • My biggest request is that they add a way to link invoice payments with the bank deposits . When a payment is made through Wave, they show the income and it is marked with the invoice number, but when they transfer the money into the bank, the credit is not tied to the invoice(s). You have to figure out by hand and delete the transaction from the bank to prevent getting double credit on it
  • It would be good to have a field for CC email on each customer. Currently you have to add any CC when sending.
  • On the Transactions view, a few more search options would be helpful.
No photo available
No answers on this topic

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

Each one of these cloud-based or desktop accounting services offer different pros and cons. It really comes down to the individual owner's wants and needs. While Wave is not going to be my first choice for a large, complex organization, it really shines when handling a one person shop who wants to keep track of their home and business finances in one place without all the complexity of traditional bookkeeping software. It's far less expensive than its competitors and has made constant strides to improve itself since day one. It also has a very friendly support staff who have a very fast response time.
Eric Matthews profile photo
No answers on this topic

Rating for Public Practice CPAs

Accounting by Wave8.0
Based on 8 answers
we have worked with all Cloud software ( XERO, QBO, FreshBooks, Wave, and others ) so we have a strong basis point for comparison
Peter Cullen 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
No answers on this topic

Screenshots

Pricing Details

Accounting by Wave

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

Questica Budget

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