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

Questica Budget

2 Ratings
Score 7.6 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

Questica Budget

[PowerPlan is well suited for] Any Utility who handles their own Fixed Asset Accounting and Reporting. There are very few specialized solutions in this space that can handle this out of the box. Core functionality and support with PowerPlan are excellent. If you have a firm or service that handles a portion or the majority of your Fixed Asset Accounting and Reporting than this solution is overkill and costly for what you need. There may be other options also if you have a robust internal technology team that is comfortable developing another major fixed asset solution into what you need. Cloud Hosting is also not available at this time and will likely be several releases out and be a major redesign (unstable) at first.
Ryan Payne profile photo

Feature Rating Comparison

Payroll Management

Accounting by Wave
7.9
Questica Budget
Pay calculation
Accounting by Wave
8.4
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
9.1
Questica Budget
API for custom integration
Accounting by Wave
8.9
Questica Budget
Plug-ins
Accounting by Wave
9.2
Questica Budget

Security

Accounting by Wave
8.6
Questica Budget
Single sign-on capability
Accounting by Wave
9.0
Questica Budget
Role-based user permissions
Accounting by Wave
8.2
Questica Budget

Reporting & Analytics

Accounting by Wave
8.5
Questica Budget
Dashboards
Accounting by Wave
8.5
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
8.5
Questica Budget
Accounts receivable
Accounting by Wave
9.2
Questica Budget
Cash management
Accounting by Wave
8.2
Questica Budget
Bank reconciliation
Accounting by Wave
7.8
Questica Budget
Expense management
Accounting by Wave
8.6
Questica Budget
Time tracking
Accounting by Wave
7.3
Questica Budget
Fixed asset management
Accounting by Wave
6.2
Questica Budget
Multi-currency support
Accounting by Wave
8.6
Questica Budget
Multi-division support
Accounting by Wave
7.6
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
9.1
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
8.4
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
7.9
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
8.9
Questica Budget
Order Orchestration
Accounting by Wave
8.0
Questica Budget
End-to-end order visibility
Accounting by Wave
4.7
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

  • 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
  • Allow the use of retirement units for unitization out of the box.
  • Align with Ferc Account and Reporting Standards
  • Provide Dashboards that can be configured for different users or groups
  • Functions well in a Project Centric Accounting Environment.
Ryan Payne profile photo

Cons

  • Wave is owned by ADP and integrates well, but I'm less of a fan of ADP these days, so I'll need to work out how it'll work out with alternate payroll providers.
  • The app for Wave has some great functions, but the website has much more complete integration, where you can 'skip' sending an invoice if you're just using it to track invoices for retainer-based clients.
  • The receipt tracking app is separate from the accounting app, and could possibly be integrated better.
Carl Grivakis profile photo
  • The backend technology is dated and requires specialized skills or PowerPlan assistance to develop on.
  • UI is also outdated and not as visually appealing as users are now accustomed to.
  • Reporting is basic in functionality and appearance.
Ryan Payne 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

I was never able to figure out Gnu cash so I had to mostly use excel, until I found Wave
Torrey Holman profile photo
Oracle Financials (E-Business Suite) is a very Robust ERP solution that has better integration, reporting and functionality than PowerPlan. It also operates on a more Robust Technology Stack. The Fixed Assets Module is a great solution but lacks support for Utility Specific features and functionality, so much so that we chose PowerPlan to take over this specific functionality while still utilizing Oracle for the Majority of our Project and other Accounting Functions.
Ryan Payne 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

  • Keeps me up to date for taxing purposes
Torrey Holman profile photo
  • Better Fixed Asset Reporting to Provide to Rate Commissions.
  • Allowed us to embark on a major Unitization initiative and re-design of our retirement catalog.
  • Focus the Support team on other technologies due to the stable nature and good vendor support.
Ryan Payne profile photo

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