What users are saying about
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Top Rated
105 Ratings

Accounting by Wave

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Top Rated
105 Ratings
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Score 9.1 out of 101
248 Ratings
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Score 8.2 out of 101

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
8.5
Pay calculation
Accounting by Wave
8.3
QuickBooks Premier
9.2
Benefit plan administration
Accounting by Wave
7.5
QuickBooks Premier
7.2
Direct deposit files
Accounting by Wave
8.0
QuickBooks Premier
9.4
Salary revision and increment management
Accounting by Wave
7.7
QuickBooks Premier
8.3
Reimbursement management
Accounting by Wave
8.0
QuickBooks Premier
8.3

Customization

Accounting by Wave
8.8
QuickBooks Premier
7.5
API for custom integration
Accounting by Wave
8.7
QuickBooks Premier
7.5
Plug-ins
Accounting by Wave
8.9
QuickBooks Premier
7.5

Security

Accounting by Wave
8.5
QuickBooks Premier
8.9
Single sign-on capability
Accounting by Wave
9.1
QuickBooks Premier
8.7
Role-based user permissions
Accounting by Wave
7.9
QuickBooks Premier
9.1

Reporting & Analytics

Accounting by Wave
8.5
QuickBooks Premier
8.3
Dashboards
Accounting by Wave
8.5
QuickBooks Premier
8.5
Standard reports
Accounting by Wave
8.3
QuickBooks Premier
8.4
Custom reports
Accounting by Wave
8.6
QuickBooks Premier
8.2

General Ledger and Configurable Accounting

Accounting by Wave
8.3
QuickBooks Premier
7.7
Accounts payable
Accounting by Wave
8.6
QuickBooks Premier
9.3
Accounts receivable
Accounting by Wave
9.2
QuickBooks Premier
9.3
Cash management
Accounting by Wave
8.1
QuickBooks Premier
7.6
Bank reconciliation
Accounting by Wave
7.9
QuickBooks Premier
8.6
Expense management
Accounting by Wave
8.5
QuickBooks Premier
8.8
Time tracking
Accounting by Wave
7.5
QuickBooks Premier
8.0
Fixed asset management
Accounting by Wave
6.8
QuickBooks Premier
8.5
Multi-currency support
Accounting by Wave
8.3
QuickBooks Premier
8.7
Multi-division support
Accounting by Wave
7.4
QuickBooks Premier
5.5
Regulations compliance
Accounting by Wave
7.3
QuickBooks Premier
2.7
Electronic tax filing
Accounting by Wave
6.0
QuickBooks Premier
9.2
Self-service portal
Accounting by Wave
8.9
QuickBooks Premier
8.0
Global Financial Support
Accounting by Wave
9.0
QuickBooks Premier
5.0
Primary and Secondary Ledgers
Accounting by Wave
9.3
QuickBooks Premier
5.3
Intercompany Accounting
Accounting by Wave
8.6
QuickBooks Premier
8.4
Localizations
Accounting by Wave
9.5
QuickBooks Premier
5.0
Journals and Reconciliations
Accounting by Wave
8.2
QuickBooks Premier
8.9
Enterprise Accounting
Accounting by Wave
8.7
QuickBooks Premier
9.4
Configurable Accounting
Accounting by Wave
8.7
QuickBooks Premier
7.3
Centralized Rules Framework
Accounting by Wave
9.0
QuickBooks Premier
8.1
Standardized Processes
Accounting by Wave
8.1
QuickBooks Premier
9.6

Inventory Management

Accounting by Wave
8.9
QuickBooks Premier
6.8
Inventory tracking
Accounting by Wave
9.5
QuickBooks Premier
7.8
Automatic reordering
Accounting by Wave
8.0
QuickBooks Premier
8.0
Location management
Accounting by Wave
9.0
QuickBooks Premier
8.6
Manufacturing module
Accounting by Wave
9.0
QuickBooks Premier
3.0

Order Management

Accounting by Wave
8.0
QuickBooks Premier
9.6
Pricing
Accounting by Wave
8.3
QuickBooks Premier
9.5
Order entry
Accounting by Wave
8.4
QuickBooks Premier
9.5
Credit card processing
Accounting by Wave
9.1
QuickBooks Premier
9.2
Cost of goods sold
Accounting by Wave
8.8
QuickBooks Premier
9.6
Order Orchestration
Accounting by Wave
8.0
QuickBooks Premier
10.0
End-to-end order visibility
Accounting by Wave
5.4
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
7.7
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
7.7
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
7.7
Legacy system data migration
Accounting by Wave
8.0
QuickBooks Premier
5.0

Pros

Accounting by Wave

  • Crisp, clean invoices, and I particularly like the ability to customize the invoice to fit our needs.
  • Custom reporting tools so we can slice & dice our data as needed.
  • Overall interface is incredibly easy to navigate through and you don't have to be a professional accountant or book keeper to make sense of everything.
  • Offering a recurring payment option, credit card processing, and ACH payment options with customer online payment options as well has made our life much easier with the repeat accounts we manage.
  • Adding customers profiles is simple and can be done right in the new invoice tool
  • Setting up vendors is quick and easy to associate to various payable/receivable accounts is simple.
Matthew Gehrman profile photo

QuickBooks Premier

  • The bank related transactions are good. It's easy to record payments, make deposits, and reconcile the bank accounts. I like the feature that allows you to find the invoice being paid by the number when it's not clear who the correct customer is.
  • Entering bills and credit card payments are a snap, especially for monthly recurring charges. You can use the repeat transaction function, but I like to use the copy function. Just change the date, invoice number, and amount if needed and it's entered easy peasy.
  • Paying bills is another good function. Just click those you want to pay. When you are making a partial payment on an invoice, it's simple to adjust the amount to be paid. Voiding or deleting a check is easy when needed, but you need to be very careful when doing those transactions. Once in a while, I will pay a group of bills and issue the checks, and the next time I go to make a check run the last check from the prior group will show on my ledger as the check needs to be printed. So I have to watch that. It's also easy to print checks with the wrong date on them because QB will use the last date you used. So if you are entering AP invoices and they are dated a few days prior, the checks will come out with that date on them.
  • I have to download a lot of my data from QB to do analysis in Excel. The download process is nice. There are a lot of options for canned reports to select, and you can save your favorites so you don't have to set them up each time.
  • We create our invoices in QB Premier and it is my least fun function of the month. Last year we started to import the data from a cloud-based system that holds our timesheet data using a 3rd party product to perform the upload. This then translates into our customer invoices. The process is quick and easy, and it has shortened my billing process by 2 days because I no longer have to manually input the timesheet data to create the invoices. It's was a bit intimidating at first, but well worth the effort in the long run.
Debora Darden, MBA profile photo

Cons

Accounting by Wave

  • Not too much to complain about with Wave although I do wish they kept an audit trail of all invoice reminders sent, changes in the invoice, and have the ability to pull reports with this data. This functionality would be great to review clients as a whole to determine profitability and time spent with these clients.
  • 9% processing fees for all cards which is a bit higher than some of the competitors like Blue Pay. The pro to this though is there's no monthly commitment or monthly service fees.
Matthew Gehrman profile photo

QuickBooks Premier

  • Customized reporting can be enhanced
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 Premier

QuickBooks Premier 4.8
Based on 12 answers
Because Quickbooks is the best accounting system we have encountered so far.
Cristine Delos Santos profile photo

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 Premier

QuickBooks Premier 7.9
Based on 9 answers
Quickbooks is really easy to understand. You don't have to undergo a comprehensive training to be able to navigate through the accounting system modules.
Cristine Delos Santos profile photo

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 Premier

QuickBooks Premier 8.9
Based on 5 answers
This is very reliable software, the desktop version is fast. If there is a problem, it is most likely on your own hardware!
Silvia Evans 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 Premier

QuickBooks Premier 5.7
Based on 4 answers
It takes forever to load.
No photo available

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 Premier

QuickBooks Premier 7.4
Based on 7 answers
Never used it
No photo available

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 Premier

QuickBooks Premier 1.0
Based on 1 answer
No answer on this topic is available.

Implementation

Accounting by Wave

No score
No answers yet
No answers on this topic

QuickBooks Premier

QuickBooks Premier 7.2
Based on 7 answers
It is important to do your research. There are tutorial videos online that could help new user of this accounting system. These tutorials are straightforward and easily understandable.
Cristine Delos Santos profile photo

Alternatives Considered

Accounting by Wave

Across the board Wave takes the cake on price at $0/mo aside from payroll fees and credit card processing. That aside I'd say most accounting systems are fairly similar, however what I like about Wave is just how simple the interface is and the outstanding customer support from both the community and the company.
Matthew Gehrman profile photo

QuickBooks Premier

Due to QBs reputation, I did not consider any other accounting software. It was the "go to" for us.
No photo available

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 Premier

QuickBooks Premier 6.2
Based on 4 answers
They're getting better. Still room for improvement.
No photo available

Return on Investment

Accounting by Wave

  • Being as it's free software to use I'd say implementing wave has been a positive return for the business.
  • Providing us the ability to process credit cards over the phone has increased our turn time to receive payments thus saving time overall which equates to $1,000's a year
Matthew Gehrman profile photo

QuickBooks Premier

  • Faster processing of invoices
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 Premier

General

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

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