What users are saying about
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Top Rated
105 Ratings
Top Rated
307 Ratings

Accounting by Wave

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Top Rated
105 Ratings
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Score 9.2 out of 101
Top Rated
307 Ratings
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Score 8 out of 101

Likelihood to Recommend

Accounting by Wave

Wave seems like an excellent choice for managing bookkeeping and invoices for a small business like my own. I imagine as a business outgrows Wave, you will need to hire a bookkeeper and other financial planners anyway. For me, this would be quite a ways down the road, but for basic tasks, Wave has sped up my financial workflow significantly. I'm so impressed by what Wave accomplishes. It's everything I need in a financial software. Very impressed.
Chris Hecox profile photo

QuickBooks Enterprise

QuickBooks Enterprise Solutions would be great for a company that is buying products and just reselling them as-is. It is great at keeping track of quantities remaining from previous purchases and time periods, adding new inventory purchased, and subtracting inventory sold. It would also work well for a company that purchased materials to manufacture items for stock, and then sold those stock items. QuickBooks Enterprise Solutions does not work very well for manufacturing of one-off or custom products as each item has to be "built", whether it is 1 item or 100 items. It also does not have an easy way to account for scrap or materials damaged in the manufacturing process.
Joretta Fletcher profile photo

Feature Rating Comparison

Payroll Management

Accounting by Wave
7.9
QuickBooks Enterprise
7.3
Pay calculation
Accounting by Wave
8.2
QuickBooks Enterprise
7.9
Benefit plan administration
Accounting by Wave
7.5
QuickBooks Enterprise
6.9
Direct deposit files
Accounting by Wave
8.0
QuickBooks Enterprise
7.5
Salary revision and increment management
Accounting by Wave
7.7
QuickBooks Enterprise
7.0
Reimbursement management
Accounting by Wave
8.0
QuickBooks Enterprise
7.2

Customization

Accounting by Wave
8.7
QuickBooks Enterprise
6.5
API for custom integration
Accounting by Wave
8.6
QuickBooks Enterprise
6.2
Plug-ins
Accounting by Wave
8.7
QuickBooks Enterprise
6.8

Security

Accounting by Wave
8.4
QuickBooks Enterprise
8.6
Single sign-on capability
Accounting by Wave
9.1
QuickBooks Enterprise
8.7
Role-based user permissions
Accounting by Wave
7.8
QuickBooks Enterprise
8.4

Reporting & Analytics

Accounting by Wave
8.5
QuickBooks Enterprise
7.9
Dashboards
Accounting by Wave
8.5
QuickBooks Enterprise
7.5
Standard reports
Accounting by Wave
8.3
QuickBooks Enterprise
8.2
Custom reports
Accounting by Wave
8.6
QuickBooks Enterprise
8.1

General Ledger and Configurable Accounting

Accounting by Wave
8.3
QuickBooks Enterprise
7.1
Accounts payable
Accounting by Wave
8.7
QuickBooks Enterprise
8.4
Accounts receivable
Accounting by Wave
9.2
QuickBooks Enterprise
8.3
Cash management
Accounting by Wave
8.1
QuickBooks Enterprise
8.1
Bank reconciliation
Accounting by Wave
7.9
QuickBooks Enterprise
8.5
Expense management
Accounting by Wave
8.6
QuickBooks Enterprise
7.6
Time tracking
Accounting by Wave
7.6
QuickBooks Enterprise
5.4
Fixed asset management
Accounting by Wave
7.0
QuickBooks Enterprise
7.0
Multi-currency support
Accounting by Wave
8.2
QuickBooks Enterprise
5.6
Multi-division support
Accounting by Wave
7.3
QuickBooks Enterprise
6.6
Regulations compliance
Accounting by Wave
7.3
QuickBooks Enterprise
5.6
Electronic tax filing
Accounting by Wave
6.0
QuickBooks Enterprise
8.5
Self-service portal
Accounting by Wave
8.9
QuickBooks Enterprise
8.9
Global Financial Support
Accounting by Wave
9.0
QuickBooks Enterprise
4.2
Primary and Secondary Ledgers
Accounting by Wave
9.3
QuickBooks Enterprise
6.4
Intercompany Accounting
Accounting by Wave
8.6
QuickBooks Enterprise
6.7
Localizations
Accounting by Wave
9.5
QuickBooks Enterprise
5.7
Journals and Reconciliations
Accounting by Wave
8.2
QuickBooks Enterprise
7.6
Enterprise Accounting
Accounting by Wave
8.7
QuickBooks Enterprise
7.1
Configurable Accounting
Accounting by Wave
8.8
QuickBooks Enterprise
7.8
Centralized Rules Framework
Accounting by Wave
9.0
QuickBooks Enterprise
7.4
Standardized Processes
Accounting by Wave
8.1
QuickBooks Enterprise
7.8

Inventory Management

Accounting by Wave
8.9
QuickBooks Enterprise
5.7
Inventory tracking
Accounting by Wave
9.5
QuickBooks Enterprise
6.9
Automatic reordering
Accounting by Wave
8.1
QuickBooks Enterprise
4.8
Location management
Accounting by Wave
9.0
QuickBooks Enterprise
5.6
Manufacturing module
Accounting by Wave
9.0
QuickBooks Enterprise
5.5

Order Management

Accounting by Wave
8.1
QuickBooks Enterprise
7.1
Pricing
Accounting by Wave
8.4
QuickBooks Enterprise
7.1
Order entry
Accounting by Wave
8.4
QuickBooks Enterprise
8.2
Credit card processing
Accounting by Wave
9.1
QuickBooks Enterprise
6.5
Cost of goods sold
Accounting by Wave
8.8
QuickBooks Enterprise
7.4
Order Orchestration
Accounting by Wave
8.0
QuickBooks Enterprise
7.2
End-to-end order visibility
Accounting by Wave
5.7
QuickBooks Enterprise
7.1
Order exception Resolution
Accounting by Wave
8.0
QuickBooks Enterprise
6.3

Accounting Firm BPO Features

Accounting by Wave
8.0
QuickBooks Enterprise
7.1
Branded client dashboards
Accounting by Wave
8.0
QuickBooks Enterprise
7.5
Client data roll-up capabilities
Accounting by Wave
8.0
QuickBooks Enterprise
8.0
Client data consolidation for benchmarking
Accounting by Wave
7.5
QuickBooks Enterprise
6.0
Configurable alerts
Accounting by Wave
8.0
QuickBooks Enterprise
6.5
Billing bypass
Accounting by Wave
8.0
QuickBooks Enterprise
6.5
Client template cloning
Accounting by Wave
8.0
QuickBooks Enterprise
7.5
Single sign-on
Accounting by Wave
9.0
QuickBooks Enterprise
8.5
Configurable client onboarding questions
Accounting by Wave
8.0
QuickBooks Enterprise
7.0
Cross-client workflow management
Accounting by Wave
8.0
QuickBooks Enterprise
7.5
Industry-specific versioning
Accounting by Wave
8.0
QuickBooks Enterprise
6.6
Legacy system data migration
Accounting by Wave
8.0
QuickBooks Enterprise
6.5

Pros

Accounting by Wave

  • Wave can create invoices, send invoices to clients, and notify me once an invoice has been received. It also tracks when invoices are due and allows me to check paid invoices off my list. It's extremely helpful when my previous methods of tracking invoices was updating an excel sheet. A simple feature included with invoicing is the software keeping track of what number invoice I'm currently on, so it's quick to reference different invoices.
  • Bookkeeping with Wave is fairly intuitive. You can connect any of your desired bank accounts to Wave and import your list of transactions. Wave keeps a database of clients, and though it means creating entries for each client (specifically recurring ones) you can tag clients onto income in the bank account. You can also create specific line items for budgets and tag transactions under whatever budget item you wish. There are many ways to use bookkeeping and budgeting with Wave and I've been very pleased to keep everything categorized under one software rather than using multiple applications.
  • Other features I've not used extensively yet that Wave includes are: estimates, cash flow reports, payroll, tax charts, etc. I'll be using estimates and reporting later this year, but I'm still impressed with how much versatility the software allows for.
Chris Hecox profile photo

QuickBooks Enterprise

  • Reports can be modified and filtered to provide specific information. They can also be exported into Excel for further formatting and filtering.
  • It is fairly user friendly, with a flowchart on the home page to show how estimates turn into orders and then invoices, among other business functions. It is quite forgiving with input errors, allowing one to access already saved data (orders, invoices, etc.) and change it without a lengthy process of backing out previous info and re-entering new info.
  • The toolbar at the top of the screen can be customized to include the functions that one uses most, avoiding the process of selecting a tab and scrolling down to the needed option. One can also personalize how the tab/enter buttons function, as well as date formatting, decimal points, and default scripts for invoices, statements, purchase orders, etc. One can also integrate their established email address to be used through QuickBooks.
Joretta Fletcher profile photo

Cons

Accounting by Wave

  • The only disappointment I've had with using Wave so far is how delayed transactions can be with the bank connection. This is likely because of how slow the turnaround can be for check deposits and other transactions to register in the bank (24 hours or more) but it means I need to reference my bank account's website instead of Wave if I have checks arriving on payroll day.
Chris Hecox profile photo

QuickBooks Enterprise

  • It would be nice to be able to have more than one A/R and/or A/P account on a journal entry.
  • The budget piece is not strong. You can't create department budgets and have them roll into a company-wide budget. So making changes to the budget is a tedious process.
  • As far as the budget piece, you also can't create multiple what-if scenarios, which is very limiting, so we end up doing a lot of the budgeting process in Excel.
  • We don't know of a way to create allocation formulas in QuickBooks and be able to select applicable ones when posting transactions.
No photo available

Likelihood to Renew

Accounting by Wave

Accounting by Wave 7.8
Based on 3 answers
Easy to use for clients with no accounting background and the price is right.
Jeanne Harris profile photo

QuickBooks Enterprise

QuickBooks Enterprise 9.0
Based on 11 answers
As long as my clients and I am happy with the results we are getting from the product we will continue to use QuickBooks products.
No photo available

Usability

Accounting by Wave

Accounting by Wave 5.3
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

QuickBooks Enterprise

QuickBooks Enterprise 9.0
Based on 5 answers
I like the QuickBooks Enterprise edition so much I moved my company to it this year. I like the overall functionality of the program and I am very familiar with the user interface which makes my job easier. One of the things I dislike about the online version it is not modeled after the desktop edition and I have a hard time getting around in the program.
No photo available

Reliability and Availability

Accounting by Wave

Accounting by Wave 6.7
Based on 4 answers
WAVE is always available when we need it ! Peter
Peter Cullen profile photo

QuickBooks Enterprise

QuickBooks Enterprise 8.0
Based on 2 answers
I really did experience any event that required that much attention. for the most part the system is reliable and does not break down
Scott Romero profile photo

Performance

Accounting by Wave

Accounting by Wave 2.9
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

QuickBooks Enterprise

QuickBooks Enterprise 9.0
Based on 1 answer
QB is a good and reliable system. We probably should have explore the other modules rather that jump in to the conclusion that we needed a new ERP.
Scott Romero profile photo

Support

Accounting by Wave

Accounting by Wave 9.0
Based on 1 answer
If they had live chat service then I'd rate this a 10.
Matthew Gehrman profile photo

QuickBooks Enterprise

QuickBooks Enterprise 9.0
Based on 4 answers
As a ProAdvisor I have always had good results when calling in with a QuickBooks issue. Support has done a great job of helping me accomplish what I needed to accomplish
No photo available

In-Person Training

Accounting by Wave

No score
No answers yet
No answers on this topic

QuickBooks Enterprise

QuickBooks Enterprise 7.0
Based on 1 answer
It is a very easy system to learn, so with the help it was even easier. QB is a good solid system, but it lacks some of the complexity other systems have. with QB you need to get additional modules to get the same functionality that other systems offer standard
Scott Romero profile photo

Online Training

Accounting by Wave

Accounting by Wave 4.7
Based on 3 answers
easy to use and east to train on ! Our WAVE clients enjoy the ease of use
Peter Cullen profile photo

QuickBooks Enterprise

QuickBooks Enterprise 5.1
Based on 2 answers
easy to learn system, specially with some kind of support. Just like with any other system, things get lot easier if you have guidance to lead you in your search for answers. having said that, QB is very easy to use and very easy to teach. you wont spend much time memorizing where to click.
Scott Romero profile photo

Implementation

Accounting by Wave

No score
No answers yet
No answers on this topic

QuickBooks Enterprise

QuickBooks Enterprise 8.0
Based on 4 answers
Very simple if you know what you are doing if not find someone who does to assist.
No photo available

Alternatives Considered

Accounting by Wave

I was never able to figure out Gnu cash so I had to mostly use excel, until I found Wave
Torrey Holman profile photo

QuickBooks Enterprise

The only other software program I have used is Quicken and it is not at all effective within the size company I work for. We have inventory, billing, customer/vendor/employee fields and multiple bank accounts including credit card accounts. QuickBooks tracks all these fields and you can run a report on about anything for your CPA. Profit & Loss Reports, Balance Sheet Reports and Standard Cashflow Reports for Owner/Officers forecast and budgets/
Kelly Baldwin profile photo

Scalability

Accounting by Wave

Accounting by Wave 3.0
Based on 2 answers
Once they out grow what is ability to move up to a more robust system?
Penny Breslin profile photo

QuickBooks Enterprise

QuickBooks Enterprise 3.0
Based on 1 answer
It is not a fair rating because we did not invest in different modules to accommodate for business grow and complexity expansion.
Scott Romero profile photo

Return on Investment

Accounting by Wave

  • Automatic bank transaction downloads really speeds up income and expense capture, as well as bank reconciliations.
  • Having a low cost (or in this case free) product encourages clients to use all of the features available without fear of being overcharged
  • The ability for the client to see their data online in real time whenever they want really makes the bookkeeping process much more efficient and transparent.
Eric Matthews profile photo

QuickBooks Enterprise

  • Fair price for the quality of software that you receive
  • Not enough functionality to maintain high level of accounting sophistication
No photo available

Pricing Details

Accounting by Wave

General

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

QuickBooks Enterprise

General

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

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