What users are saying about

Accounting by Wave

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Top Rated
102 Ratings

Accounting by Wave

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Top Rated
102 Ratings
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Score 9.1 out of 101
58 Ratings
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Score 7.5 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 for Mac

It's easy and fun to use QuickBooks for Mac when it is set up right. It works well for the most part and has only a few bugs. I would rate it a 9 if it was able to do job costing for wages, and if there were more programs/apps that integrate with it.But if you are choosing accounting technology QuickBooks for Mac might be a poor choice because an online accounting program, instead of premise-based software, will make it easier to collaborate with your bookkeeper, CPA, Advisor, etc.. The exception is running QuickBooks for Mac in a hosted environment which allows multiple users to access it. Of course if your internet connection is unreliable, you are not ready for online accounting software! In that case, QuickBooks for Mac is easy to use, just be sure it's set up right first.
Shelly Robbins profile photo

Feature Rating Comparison

Payroll Management

Accounting by Wave
7.9
QuickBooks for Mac
9.4
Pay calculation
Accounting by Wave
8.3
QuickBooks for Mac
7.1
Benefit plan administration
Accounting by Wave
7.5
QuickBooks for Mac
10.0
Direct deposit files
Accounting by Wave
8.0
QuickBooks for Mac
10.0
Salary revision and increment management
Accounting by Wave
7.7
QuickBooks for Mac
10.0
Reimbursement management
Accounting by Wave
8.0
QuickBooks for Mac
10.0

Customization

Accounting by Wave
9.0
QuickBooks for Mac
7.6
API for custom integration
Accounting by Wave
8.9
QuickBooks for Mac
7.6
Plug-ins
Accounting by Wave
9.1
QuickBooks for Mac
7.6

Security

Accounting by Wave
8.6
QuickBooks for Mac
9.3
Single sign-on capability
Accounting by Wave
9.1
QuickBooks for Mac
9.4
Role-based user permissions
Accounting by Wave
8.1
QuickBooks for Mac
9.3

Reporting & Analytics

Accounting by Wave
8.4
QuickBooks for Mac
8.2
Dashboards
Accounting by Wave
8.4
QuickBooks for Mac
7.8
Standard reports
Accounting by Wave
8.3
QuickBooks for Mac
8.6
Custom reports
Accounting by Wave
8.6
QuickBooks for Mac
8.3

General Ledger and Configurable Accounting

Accounting by Wave
8.2
QuickBooks for Mac
7.5
Accounts payable
Accounting by Wave
8.6
QuickBooks for Mac
8.7
Accounts receivable
Accounting by Wave
9.2
QuickBooks for Mac
8.6
Cash management
Accounting by Wave
8.0
QuickBooks for Mac
7.9
Bank reconciliation
Accounting by Wave
7.8
QuickBooks for Mac
9.0
Expense management
Accounting by Wave
8.5
QuickBooks for Mac
7.9
Time tracking
Accounting by Wave
7.3
QuickBooks for Mac
6.3
Fixed asset management
Accounting by Wave
6.3
QuickBooks for Mac
6.7
Multi-currency support
Accounting by Wave
8.5
QuickBooks for Mac
7.7
Multi-division support
Accounting by Wave
7.5
QuickBooks for Mac
5.8
Regulations compliance
Accounting by Wave
7.3
QuickBooks for Mac
5.2
Electronic tax filing
Accounting by Wave
6.0
QuickBooks for Mac
9.2
Self-service portal
Accounting by Wave
9.0
QuickBooks for Mac
8.8
Global Financial Support
Accounting by Wave
9.0
QuickBooks for Mac
5.2
Primary and Secondary Ledgers
Accounting by Wave
9.3
QuickBooks for Mac
6.6
Intercompany Accounting
Accounting by Wave
8.7
QuickBooks for Mac
7.6
Localizations
Accounting by Wave
9.5
QuickBooks for Mac
7.9
Journals and Reconciliations
Accounting by Wave
8.1
QuickBooks for Mac
8.6
Enterprise Accounting
Accounting by Wave
8.7
QuickBooks for Mac
10.0
Configurable Accounting
Accounting by Wave
8.5
QuickBooks for Mac
6.5
Centralized Rules Framework
Accounting by Wave
9.0
QuickBooks for Mac
5.2
Standardized Processes
Accounting by Wave
8.0
QuickBooks for Mac
8.9

Inventory Management

Accounting by Wave
8.9
QuickBooks for Mac
6.7
Inventory tracking
Accounting by Wave
9.5
QuickBooks for Mac
5.8
Automatic reordering
Accounting by Wave
8.0
QuickBooks for Mac
6.3
Location management
Accounting by Wave
9.0
QuickBooks for Mac
7.8
Manufacturing module
Accounting by Wave
9.0
QuickBooks for Mac
6.8

Order Management

Accounting by Wave
7.9
QuickBooks for Mac
7.6
Pricing
Accounting by Wave
8.3
QuickBooks for Mac
8.1
Order entry
Accounting by Wave
8.3
QuickBooks for Mac
8.3
Credit card processing
Accounting by Wave
9.1
QuickBooks for Mac
8.9
Cost of goods sold
Accounting by Wave
8.8
QuickBooks for Mac
7.4
Order Orchestration
Accounting by Wave
8.0
QuickBooks for Mac
8.0
End-to-end order visibility
Accounting by Wave
4.8
QuickBooks for Mac
6.3
Order exception Resolution
Accounting by Wave
8.0
QuickBooks for Mac
6.3

Accounting Firm BPO Features

Accounting by Wave
8.0
QuickBooks for Mac
8.8
Branded client dashboards
Accounting by Wave
8.0
QuickBooks for Mac
7.4
Client data roll-up capabilities
Accounting by Wave
8.0
QuickBooks for Mac
10.0
Client data consolidation for benchmarking
Accounting by Wave
7.5
QuickBooks for Mac
10.0
Configurable alerts
Accounting by Wave
8.0
QuickBooks for Mac
10.0
Billing bypass
Accounting by Wave
8.0
QuickBooks for Mac
10.0
Client template cloning
Accounting by Wave
8.0
QuickBooks for Mac
7.9
Single sign-on
Accounting by Wave
9.0
QuickBooks for Mac
8.8
Configurable client onboarding questions
Accounting by Wave
8.0
QuickBooks for Mac
10.0
Cross-client workflow management
Accounting by Wave
8.0
QuickBooks for Mac
7.9
Industry-specific versioning
Accounting by Wave
8.0
QuickBooks for Mac
7.9
Legacy system data migration
Accounting by Wave
8.0
QuickBooks for Mac
7.3

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
  • Online banking is easy and fun to learn, and saves data-entry for those little debits/ATM's on your bank statement.
  • Invoices can be designed to look nice and emailed with a "Pay link which speeds up cash flow; a #1 concern for new businesses.
  • Save money by using the online payroll that syncs in data so you don't have to enter complicated paychecks at all.
Shelly Robbins profile photo

Cons

  • The mobile experience leaves a lot to be desired. While I can use the receipt app to capture expenses, we live in a mobile digital world where I need to be able to create quotes and invoices on the spot and not back at my desk.
  • There are a few accounting and account related tools that could use some sharpening. For example, there isn't a good way to merge transactions - so when I snap a picture of a receipt and add it there is trouble reconciling against the bank. This shows up as two discrete transactions that cannot be merged - so one has to be manually deleted. It kind of defeats the purpose of scanning the receipts in entirely.
  • We've struggled with integrating debt accounts. For example, a shareholder may pay for something to get us by one day - how to we capture that as a debt owed? There isn't a way. The "shareholder debt" account doesn't talk to the rest of the system.
No photo available
  • Tutorials for onboarding might be useful. Maybe more videos.
John E. Miller, 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
QuickBooks for Mac8.0
Based on 9 answers
I have used it for years and am not likely to switch to a product with different (or lesser) functionality. I would like to experiment with downloading my bank account information directly into QB; this feature exists, but I have not tried it yet, and it would make my monthly accounting faster.
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 for Mac8.0
Based on 3 answers
The Mac version is OK overall. I find the Windows versions to be much more robust but Mac is quite good for Mac users. Though I think die hard Mac users should consider QuickBooks Online instead as there is a new QB for Mac app that makes using QBO much better!
Robyn Smithson, CB 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
QuickBooks for Mac9.0
Based on 1 answer
I've been using the QuickBooks online version for a little over 6 months now (upgraded from Mac desktop) and I haven't had any access issues. There have been times when it was down for service/upgrade however there is always plenty of notification time given by the Quick Books Online Support team. These upgrade maintenance time frames are always over night hours and on the weekends so everything can be worked around very easily.
Ann Shallcross 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
QuickBooks for Mac5.0
Based on 1 answer
Because the support level I get is probably not what the average user gets
Robyn Smithson, CB 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

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
Quickbooks Pro for Mac, which was superseded with Quickbooks for Mac
John Cruet Jr., AIA 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

  • Increased staff efficiencies
  • Increased customer service
Randy O'Malley profile photo
  • Tracking Income
  • Tracking Expenses
  • Tracking Assets and liabilities
John Cruet Jr., AIA profile photo

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 for Mac

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