What users are saying about

Accounting by Wave

Top Rated
97 Ratings

QuickBooks Premier

Top Rated
235 Ratings

Accounting by Wave

Top Rated
97 Ratings
Score 9.1 out of 101

QuickBooks Premier

Top Rated
235 Ratings
Score 8.3 out of 101

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Likelihood to Recommend

Accounting by Wave

Wave is an excellent option for small start-up businesses since it's a free application, comparable to others like Xero & Quikbooks, and integrates with most major banks. Where I would see considering to move platforms is when you have more than 10 employees and multiple accounts to balance which at that point may be a good time to consult a book keeper and consider switching software if needed. Side note Wave offers a list of local bookkeeping professionals that work with Wave software in your area so you wouldn't have to change systems.
Matthew Gehrman profile photo

QuickBooks Premier

QuickBooks Premier is not well suited to manufacturing industries, as it cannot handle the complicated inventory requirements of raw materials, work in process, and finished goods. Retailers and Wholesalers can use QuickBooks Premier as long as they have an add-on inventory tracking program or Point of Sale system that integrates with QuickBooks. Likewise, restaurants would need specialized restaurant software that integrates with QuickBooks Premier. Non-profits can use QuickBooks Premier non-profit edition, but if they use fund accounting, it will require some complicated work-arounds. QuickBooks Premier is well-suited to most construction trades, personal and professional services providers, small retailers, and rental property owners.
No photo available

Feature Rating Comparison

Payroll Management

Accounting by Wave
7.9
QuickBooks Premier
8.1
Pay calculation
Accounting by Wave
8.4
QuickBooks Premier
9.0
Benefit plan administration
Accounting by Wave
7.5
QuickBooks Premier
7.0
Direct deposit files
Accounting by Wave
8.0
QuickBooks Premier
9.4
Salary revision and increment management
Accounting by Wave
7.7
QuickBooks Premier
7.5
Reimbursement management
Accounting by Wave
8.0
QuickBooks Premier
7.5

Customization

Accounting by Wave
9.1
QuickBooks Premier
7.3
API for custom integration
Accounting by Wave
8.9
QuickBooks Premier
7.3
Plug-ins
Accounting by Wave
9.2
QuickBooks Premier
7.3

Security

Accounting by Wave
8.6
QuickBooks Premier
8.8
Single sign-on capability
Accounting by Wave
9.0
QuickBooks Premier
8.6
Role-based user permissions
Accounting by Wave
8.2
QuickBooks Premier
8.9

Reporting & Analytics

Accounting by Wave
8.5
QuickBooks Premier
8.5
Dashboards
Accounting by Wave
8.5
QuickBooks Premier
8.7
Standard reports
Accounting by Wave
8.3
QuickBooks Premier
8.6
Custom reports
Accounting by Wave
8.6
QuickBooks Premier
8.3

General Ledger and Configurable Accounting

Accounting by Wave
8.2
QuickBooks Premier
7.9
Accounts payable
Accounting by Wave
8.5
QuickBooks Premier
9.2
Accounts receivable
Accounting by Wave
9.2
QuickBooks Premier
9.2
Cash management
Accounting by Wave
8.2
QuickBooks Premier
8.6
Bank reconciliation
Accounting by Wave
7.8
QuickBooks Premier
9.3
Expense management
Accounting by Wave
8.6
QuickBooks Premier
9.1
Time tracking
Accounting by Wave
7.3
QuickBooks Premier
8.0
Fixed asset management
Accounting by Wave
6.2
QuickBooks Premier
8.2
Multi-currency support
Accounting by Wave
8.6
QuickBooks Premier
8.7
Multi-division support
Accounting by Wave
7.6
QuickBooks Premier
6.8
Regulations compliance
Accounting by Wave
7.3
QuickBooks Premier
4.0
Electronic tax filing
Accounting by Wave
6.0
QuickBooks Premier
9.2
Self-service portal
Accounting by Wave
9.1
QuickBooks Premier
7.5
Global Financial Support
Accounting by Wave
9.0
QuickBooks Premier
5.0
Primary and Secondary Ledgers
Accounting by Wave
9.3
QuickBooks Premier
7.4
Intercompany Accounting
Accounting by Wave
8.7
QuickBooks Premier
8.4
Localizations
Accounting by Wave
9.5
QuickBooks Premier
5.0
Journals and Reconciliations
Accounting by Wave
8.4
QuickBooks Premier
8.7
Enterprise Accounting
Accounting by Wave
8.7
QuickBooks Premier
9.0
Configurable Accounting
Accounting by Wave
8.5
QuickBooks Premier
8.2
Centralized Rules Framework
Accounting by Wave
9.0
QuickBooks Premier
6.5
Standardized Processes
Accounting by Wave
7.9
QuickBooks Premier
9.3

Inventory Management

Accounting by Wave
8.9
QuickBooks Premier
6.6
Inventory tracking
Accounting by Wave
9.5
QuickBooks Premier
8.0
Automatic reordering
Accounting by Wave
8.0
QuickBooks Premier
4.3
Location management
Accounting by Wave
9.0
QuickBooks Premier
9.0
Manufacturing module
Accounting by Wave
9.0
QuickBooks Premier
5.0

Order Management

Accounting by Wave
7.9
QuickBooks Premier
9.5
Pricing
Accounting by Wave
8.3
QuickBooks Premier
9.5
Order entry
Accounting by Wave
8.3
QuickBooks Premier
9.5
Credit card processing
Accounting by Wave
9.1
QuickBooks Premier
8.5
Cost of goods sold
Accounting by Wave
8.9
QuickBooks Premier
9.3
Order Orchestration
Accounting by Wave
8.0
QuickBooks Premier
10.0
End-to-end order visibility
Accounting by Wave
4.7
QuickBooks Premier
10.0
Order exception Resolution
Accounting by Wave
8.0
QuickBooks Premier

Accounting Firm BPO Features

Accounting by Wave
8.0
QuickBooks Premier
5.7
Branded client dashboards
Accounting by Wave
8.0
QuickBooks Premier
7.5
Client data roll-up capabilities
Accounting by Wave
8.0
QuickBooks Premier
5.0
Client data consolidation for benchmarking
Accounting by Wave
7.5
QuickBooks Premier
5.0
Configurable alerts
Accounting by Wave
8.0
QuickBooks Premier
5.0
Billing bypass
Accounting by Wave
8.0
QuickBooks Premier
5.0
Client template cloning
Accounting by Wave
8.0
QuickBooks Premier
5.0
Single sign-on
Accounting by Wave
9.0
QuickBooks Premier
7.5
Configurable client onboarding questions
Accounting by Wave
8.0
QuickBooks Premier
5.0
Cross-client workflow management
Accounting by Wave
8.0
QuickBooks Premier
5.0
Industry-specific versioning
Accounting by Wave
8.0
QuickBooks Premier
7.5
Legacy system data migration
Accounting by Wave
8.0
QuickBooks Premier
5.0

Pros

  • Wave is a wonderful integrated solution offering invoicing, bookkeeping, and cash flow analysis along with bank integration that auto updates.
  • Wave is a payment solution provider with an industry standard rate of 2.9ish% for credit card transactions and provides a good analysis for me as to when I typically get paid.
  • Wave pulls common data for me in building a customized branded invoice, allowing me to make the invoice process faster by adding repeat customers and listing my graphic design services.
Carl Grivakis profile photo
  • The program is easy to learn and use. We can train our clients' personnel how to use the program with out difficulty.
  • It is easy for clients to generate bills and manage accounts receivable.
  • It is easy to manage accounts payable and allows clients to pay their bills electronically.
  • Transactions can be imported electronically for credit card and banking transactions.
  • It is easy to reconcile bank and credit card accounts.
  • We can import data generated by QuickBooks into our tax and accounting software.
No photo available

Cons

  • The reports need some work. I would like to see some options for how the data is sorted (either by account number or name).
  • The payroll service is a bit limited if you have staff that have varied pay structures or are paid on different schedules.
Eric Matthews profile photo
  • Reporting - it would be nice to have an option to remove subaccounts when certain reports are generated.
  • The program could be more flexible in the reporting area. For instance, accumulated depreciation is sometimes presented before the fixed asset accounts on the balance sheet. It would be nice if rows and columns could be manipulated more to get a better looking report.
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 Premier10.0
Based on 11 answers
Love it on a cost benefit schedule and the use of the program in the market.
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 Premier7.9
Based on 9 answers
I like 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 Premier8.9
Based on 5 answers
It has been a cery stable program
Andrew Newman CPA 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 Premier5.7
Based on 4 answers
It takes forever to load.
No photo available

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 Premier7.4
Based on 7 answers
The Quickbooks support is good but still has some room for improvement.
Cristine Delos Santos 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 Premier1.0
Based on 1 answer
No answer on this topic is available.

Implementation

No score
No answers yet
No answers on this topic
QuickBooks Premier7.2
Based on 7 answers
Need to be as thorough as possible and set up software correctly.
No photo available

Alternatives Considered

Wave is ideal for the small business owner. It is free (can't beat that) and easy to use. I use a variety of solutions, but pair Wave with clients (such as realtors) to keep them away from shoeboxes! I don't do anything fancy with the program, but it really shines at separating business and personal.
Jeff Borschowa profile photo
EasyAcct is a multiple general ledger system developed for accounting firms.Peachtree by Sage (Quantum) is similar to QuickBooks but not as user friendly.QuickBooks is a market leader for small business both used by accounting firms and their clients.
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 Premier8.1
Based on 27 answers
Very easy to pull the information we need from their files. I do see the need to store the password for every client to be a hassle - I'd like to see the password saved once you open that client's records for the year. It would also be nice to have the program open a client's records from an earlier version of the program without having to convert it.
No photo available

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 Premier6.2
Based on 4 answers
They're getting better. Still room for improvement.
No photo available

Return on Investment

  • Faster bookkeeping
  • Better accounting records
  • Cheaper accountants fees
Paul Colman FCA profile photo
  • Great use for the pricetag
  • Allows one to multi-task
  • Speeds up daily tasks
Daniel Miles 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 Premier

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