What users are saying about

Accounting by Wave

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Top Rated
102 Ratings

QuickBooks Pro

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Top Rated
512 Ratings

Accounting by Wave

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Top Rated
102 Ratings
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Score 9.1 out of 101

QuickBooks Pro

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Top Rated
512 Ratings
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Score 8.1 out of 101

Add comparison

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 Pro

One of my clients is a manufacturing company utilizing QuickBooks with 15 employees to manage all aspects of their business. Frequent tasks being performed are generating purchase orders for raw materials, invoicing customers for finished products, and payroll. As the primary person supporting this installation I've found it easy to manage, control permissions for users, and upgrade each workstation. I also provide basic training on the operation of QuickBooks and even the employees with no previous experience find it easy to use and learn.
Bill Greganti profile photo

Feature Rating Comparison

Payroll Management

Accounting by Wave
7.9
QuickBooks Pro
7.1
Pay calculation
Accounting by Wave
8.3
QuickBooks Pro
8.3
Benefit plan administration
Accounting by Wave
7.5
QuickBooks Pro
5.7
Direct deposit files
Accounting by Wave
8.0
QuickBooks Pro
7.9
Salary revision and increment management
Accounting by Wave
7.7
QuickBooks Pro
6.4
Reimbursement management
Accounting by Wave
8.0
QuickBooks Pro
7.4

Customization

Accounting by Wave
9.0
QuickBooks Pro
6.9
API for custom integration
Accounting by Wave
8.9
QuickBooks Pro
7.0
Plug-ins
Accounting by Wave
9.1
QuickBooks Pro
6.7

Security

Accounting by Wave
8.6
QuickBooks Pro
8.4
Single sign-on capability
Accounting by Wave
9.1
QuickBooks Pro
8.0
Role-based user permissions
Accounting by Wave
8.1
QuickBooks Pro
8.7

Reporting & Analytics

Accounting by Wave
8.4
QuickBooks Pro
8.2
Dashboards
Accounting by Wave
8.4
QuickBooks Pro
8.0
Standard reports
Accounting by Wave
8.3
QuickBooks Pro
8.8
Custom reports
Accounting by Wave
8.6
QuickBooks Pro
7.9

General Ledger and Configurable Accounting

Accounting by Wave
8.2
QuickBooks Pro
7.7
Accounts payable
Accounting by Wave
8.6
QuickBooks Pro
8.6
Accounts receivable
Accounting by Wave
9.2
QuickBooks Pro
8.4
Cash management
Accounting by Wave
8.0
QuickBooks Pro
8.2
Bank reconciliation
Accounting by Wave
7.8
QuickBooks Pro
8.8
Expense management
Accounting by Wave
8.5
QuickBooks Pro
8.2
Time tracking
Accounting by Wave
7.3
QuickBooks Pro
7.3
Fixed asset management
Accounting by Wave
6.3
QuickBooks Pro
7.6
Multi-currency support
Accounting by Wave
8.5
QuickBooks Pro
7.4
Multi-division support
Accounting by Wave
7.5
QuickBooks Pro
7.7
Regulations compliance
Accounting by Wave
7.3
QuickBooks Pro
7.5
Electronic tax filing
Accounting by Wave
6.0
QuickBooks Pro
8.0
Self-service portal
Accounting by Wave
9.0
QuickBooks Pro
7.9
Global Financial Support
Accounting by Wave
9.0
QuickBooks Pro
6.9
Primary and Secondary Ledgers
Accounting by Wave
9.3
QuickBooks Pro
7.5
Intercompany Accounting
Accounting by Wave
8.7
QuickBooks Pro
7.1
Localizations
Accounting by Wave
9.5
QuickBooks Pro
7.2
Journals and Reconciliations
Accounting by Wave
8.1
QuickBooks Pro
8.4
Enterprise Accounting
Accounting by Wave
8.7
QuickBooks Pro
7.5
Configurable Accounting
Accounting by Wave
8.5
QuickBooks Pro
7.3
Centralized Rules Framework
Accounting by Wave
9.0
QuickBooks Pro
6.7
Standardized Processes
Accounting by Wave
8.0
QuickBooks Pro
8.1

Inventory Management

Accounting by Wave
8.9
QuickBooks Pro
6.1
Inventory tracking
Accounting by Wave
9.5
QuickBooks Pro
7.0
Automatic reordering
Accounting by Wave
8.0
QuickBooks Pro
6.0
Location management
Accounting by Wave
9.0
QuickBooks Pro
5.8
Manufacturing module
Accounting by Wave
9.0
QuickBooks Pro
5.7

Order Management

Accounting by Wave
7.9
QuickBooks Pro
7.3
Pricing
Accounting by Wave
8.3
QuickBooks Pro
7.0
Order entry
Accounting by Wave
8.3
QuickBooks Pro
8.0
Credit card processing
Accounting by Wave
9.1
QuickBooks Pro
7.7
Cost of goods sold
Accounting by Wave
8.8
QuickBooks Pro
8.2
Order Orchestration
Accounting by Wave
8.0
QuickBooks Pro
7.1
End-to-end order visibility
Accounting by Wave
4.8
QuickBooks Pro
7.3
Order exception Resolution
Accounting by Wave
8.0
QuickBooks Pro
6.1

Accounting Firm BPO Features

Accounting by Wave
8.0
QuickBooks Pro
6.6
Branded client dashboards
Accounting by Wave
8.0
QuickBooks Pro
6.3
Client data roll-up capabilities
Accounting by Wave
8.0
QuickBooks Pro
6.4
Client data consolidation for benchmarking
Accounting by Wave
7.5
QuickBooks Pro
6.0
Configurable alerts
Accounting by Wave
8.0
QuickBooks Pro
7.6
Billing bypass
Accounting by Wave
8.0
QuickBooks Pro
6.6
Client template cloning
Accounting by Wave
8.0
QuickBooks Pro
6.4
Single sign-on
Accounting by Wave
9.0
QuickBooks Pro
8.0
Configurable client onboarding questions
Accounting by Wave
8.0
QuickBooks Pro
6.4
Cross-client workflow management
Accounting by Wave
8.0
QuickBooks Pro
6.0
Industry-specific versioning
Accounting by Wave
8.0
QuickBooks Pro
6.4
Legacy system data migration
Accounting by Wave
8.0
QuickBooks Pro
6.0

Pros

  • 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 does a great job of easily creating invoices and bills and sending them out internally either by email or fax. It does provide the option to print as well for customers who cant be reached otherwise.
  • QuickBooks creates detailed charts that let you see your business from a distance. You are able to see a week, month or even a year at a time. charts include income, payments not received, and most frequent customers.
  • QuickBooks makes complex task easy by having built in formats for invoices, estimates, bills, payment receipts.
  • QuickBooks also has easy bank intergration.
Heath Achatz profile photo

Cons

  • 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
  • Budgeting, forecasting and cash flow statements are very weak. For anything but very basic budgets we use Excel. However, QuickBooks is a $300 software program, not thousands of dollars.
  • Level of tech support is weak. Have to get to a supervisor or second level for anything other than the most basic questions.
  • Have an option in inventory to not allow an invoice or sales order for any item that has zero or negative quantities.
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 Pro10.0
Based on 17 answers
The software is pretty straight forward, it does what I need it to do, and there is no-deal killer issues creating a need for other software. Continuing with QuickBooks makes sense as being familiar with QuickBooks Pro prevents the need to try to learn a different software, and knowing how to use this software already is a big reason to stick with it long into the future.
Erika Neilson profile photo

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 Pro9.0
Based on 9 answers
QBP is easy to use, somewhat easy to learn and runs fairly smoothly when using it. It tells you automatically that you need to save, and helps delete old backup files so that your PC doesn't have too many old copies of previous backup storage.
Erika Neilson 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 Pro8.3
Based on 2 answers
I haven't experienced a time when QuickBooks Pro was unavailable when I needed it in the entire 20 years of using the software
No photo available

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 Pro8.0
Based on 7 answers
Get transferred a lot between people. Have gotten disconnected and it is impossible to get back to the same support person. Seems like always get the incorrect department for my issues and I have to be transferred. Sometimes the support people are very helpful and polite. They try to help, but are not always able to. Some support personnel are clueless when it comes to some issues.
No photo available

In-Person Training

No score
No answers yet
No answers on this topic
QuickBooks Pro10.0
Based on 1 answer
Best thing I ever did was to attend a two day training seminar on QuickBooks, I learned an immense amount in a short time with hands on training by experts. I strongly recommend such training for anyone using any part of the software. It will pay for itself in the first month.
Chuck Bunn 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

Implementation

No score
No answers yet
No answers on this topic
QuickBooks Pro9.0
Based on 6 answers
In hindsight I would've gone back further and input another year back of historical data for 2 year comparison purposes in the account balances. It makes all the difference in our firm to compare the balances from year to year and would've helped to at least be able to see the historical data for comparison from our prior tax returns
No photo available

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
Went with QuickBooks from day one. Knew that it was a trusted company with solid applications.
Jonathan Thommarson 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
QuickBooks Pro8.5
Based on 22 answers
Already mentioned benefits. But so many clients use it that it is easy to obtain backups and accountant copies.
Suzanne Forbes, CPA 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 Pro8.0
Based on 1 answer
No answer on this topic is available.

Return on Investment

  • Increased staff efficiencies
  • Increased customer service
Randy O'Malley profile photo
  • Definitely better customer service. Can help clients with issues and walk them through problems.
  • More efficient that other software and definitely more efficient that manual records.
  • Easy of accessing client information to do payroll, year-end work, etc.
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 Pro

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