What users are saying about

Accounting by Wave

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Top Rated
102 Ratings

QuickBooks Enterprise

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284 Ratings

Accounting by Wave

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Top Rated
102 Ratings
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Score 9.1 out of 101

QuickBooks Enterprise

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284 Ratings
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Score 7.8 out of 101

Add comparison

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

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
7.6
Pay calculation
Accounting by Wave
8.3
QuickBooks Enterprise
8.2
Benefit plan administration
Accounting by Wave
7.5
QuickBooks Enterprise
6.8
Direct deposit files
Accounting by Wave
8.0
QuickBooks Enterprise
8.1
Salary revision and increment management
Accounting by Wave
7.7
QuickBooks Enterprise
7.1
Reimbursement management
Accounting by Wave
8.0
QuickBooks Enterprise
7.8

Customization

Accounting by Wave
9.0
QuickBooks Enterprise
6.4
API for custom integration
Accounting by Wave
8.9
QuickBooks Enterprise
6.0
Plug-ins
Accounting by Wave
9.1
QuickBooks Enterprise
6.7

Security

Accounting by Wave
8.6
QuickBooks Enterprise
8.4
Single sign-on capability
Accounting by Wave
9.1
QuickBooks Enterprise
8.4
Role-based user permissions
Accounting by Wave
8.1
QuickBooks Enterprise
8.4

Reporting & Analytics

Accounting by Wave
8.4
QuickBooks Enterprise
8.0
Dashboards
Accounting by Wave
8.4
QuickBooks Enterprise
7.7
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
8.2
QuickBooks Enterprise
7.5
Accounts payable
Accounting by Wave
8.6
QuickBooks Enterprise
8.6
Accounts receivable
Accounting by Wave
9.2
QuickBooks Enterprise
8.6
Cash management
Accounting by Wave
8.0
QuickBooks Enterprise
8.5
Bank reconciliation
Accounting by Wave
7.8
QuickBooks Enterprise
8.7
Expense management
Accounting by Wave
8.5
QuickBooks Enterprise
7.7
Time tracking
Accounting by Wave
7.3
QuickBooks Enterprise
5.7
Fixed asset management
Accounting by Wave
6.3
QuickBooks Enterprise
7.2
Multi-currency support
Accounting by Wave
8.5
QuickBooks Enterprise
6.6
Multi-division support
Accounting by Wave
7.5
QuickBooks Enterprise
7.3
Regulations compliance
Accounting by Wave
7.3
QuickBooks Enterprise
5.2
Electronic tax filing
Accounting by Wave
6.0
QuickBooks Enterprise
8.5
Self-service portal
Accounting by Wave
9.0
QuickBooks Enterprise
8.8
Global Financial Support
Accounting by Wave
9.0
QuickBooks Enterprise
6.0
Primary and Secondary Ledgers
Accounting by Wave
9.3
QuickBooks Enterprise
6.3
Intercompany Accounting
Accounting by Wave
8.7
QuickBooks Enterprise
6.9
Localizations
Accounting by Wave
9.5
QuickBooks Enterprise
7.0
Journals and Reconciliations
Accounting by Wave
8.1
QuickBooks Enterprise
7.7
Enterprise Accounting
Accounting by Wave
8.7
QuickBooks Enterprise
7.4
Configurable Accounting
Accounting by Wave
8.5
QuickBooks Enterprise
7.9
Centralized Rules Framework
Accounting by Wave
9.0
QuickBooks Enterprise
7.7
Standardized Processes
Accounting by Wave
8.0
QuickBooks Enterprise
8.1

Inventory Management

Accounting by Wave
8.9
QuickBooks Enterprise
5.8
Inventory tracking
Accounting by Wave
9.5
QuickBooks Enterprise
7.0
Automatic reordering
Accounting by Wave
8.0
QuickBooks Enterprise
4.6
Location management
Accounting by Wave
9.0
QuickBooks Enterprise
6.3
Manufacturing module
Accounting by Wave
9.0
QuickBooks Enterprise
5.5

Order Management

Accounting by Wave
7.9
QuickBooks Enterprise
7.5
Pricing
Accounting by Wave
8.3
QuickBooks Enterprise
7.6
Order entry
Accounting by Wave
8.3
QuickBooks Enterprise
8.7
Credit card processing
Accounting by Wave
9.1
QuickBooks Enterprise
6.2
Cost of goods sold
Accounting by Wave
8.8
QuickBooks Enterprise
7.8
Order Orchestration
Accounting by Wave
8.0
QuickBooks Enterprise
7.9
End-to-end order visibility
Accounting by Wave
4.8
QuickBooks Enterprise
7.3
Order exception Resolution
Accounting by Wave
8.0
QuickBooks Enterprise
6.8

Accounting Firm BPO Features

Accounting by Wave
8.0
QuickBooks Enterprise
7.2
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
6.1
Configurable alerts
Accounting by Wave
8.0
QuickBooks Enterprise
6.7
Billing bypass
Accounting by Wave
8.0
QuickBooks Enterprise
6.5
Client template cloning
Accounting by Wave
8.0
QuickBooks Enterprise
7.6
Single sign-on
Accounting by Wave
9.0
QuickBooks Enterprise
8.4
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
6.8
Legacy system data migration
Accounting by Wave
8.0
QuickBooks Enterprise
6.6

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
  • It is easy to navigate through the transactions, reports and modules.
  • It is easy to change previously posted transactions within the same month or open months so you don't have to create correcting journal entries for every thing that needs correction. Of course, that means you need qualified staff making the right decisions or controls so only qualified staff can make changes to existing transactions.
  • You can export reports to Excel and manipulate the data for presentation to others.
  • You can easily create reports by modifying existing reports.
No photo available

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
  • 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 Wave7.8
Based on 3 answers
Easy to use for clients with no accounting background and the price is right.
Jeanne Harris profile photo
QuickBooks Enterprise9.0
Based on 11 answers
We'll renew because we know how to use it and I have enough experience to troubleshoot when our bookkeeper has a problem. And it's a good product that I think fits our needs perfectly!
No photo available

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
QuickBooks Enterprise9.0
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 Wave6.7
Based on 4 answers
WAVE is always available when we need it ! Peter
Peter Cullen profile photo
QuickBooks Enterprise8.0
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 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
QuickBooks Enterprise9.0
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 Wave9.0
Based on 1 answer
If they had live chat service then I'd rate this a 10.
Matthew Gehrman profile photo
QuickBooks Enterprise9.0
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

No score
No answers yet
No answers on this topic
QuickBooks Enterprise7.0
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 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
QuickBooks Enterprise5.1
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

No score
No answers yet
No answers on this topic
QuickBooks Enterprise8.0
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

Zoho has many modules that can be integrated, including CRM, but Wave is pretty much ready to use 5 minutes after signing up.
No photo available
I have not really evaluated a lot of different products. I have used Sage software in the past but was not totally pleased with its limitations. I am not fond of any of the online software programs as I have never found one that full fits my client needs, but I look at them periodically to see how much they have improved
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
QuickBooks Enterprise7.2
Based on 9 answers
QuickBooks Enterprise makes it easier to customize and configure for clients different needs, ability to bring in data from a legacy system, availability of third party applications to meet specific client needs.
Jayme Zublick profile photo

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
QuickBooks Enterprise3.0
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

  • Wave has enabled our accounts payable to maintain a 99% closure rate by leveraging auto reminders through the email system.
  • Our quote to invoice process is a single click, saving time and effort. Even minor changes during that transition occur simply and easily.
  • Aside from payments, Wave has been free for our usage. Our bottom line is better because we're not investing in software but instead embracing an entire ecosystem.
No photo available
  • It is still the most used small to midsized business software
  • Fairly easy to learn even for task oriented employees
  • Works well for my clients so far
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