What users are saying about

Accounting by Wave

Top Rated
97 Ratings

QuickBooks Pro

Top Rated
494 Ratings

Accounting by Wave

Top Rated
97 Ratings
Score 9 out of 101

QuickBooks Pro

Top Rated
494 Ratings
Score 8 out of 101

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Likelihood to Recommend

Accounting by Wave

I have recommended it to many small businesses because first off, it works. Setup and daily use it is easy. There is no cost outside of any payment transaction processing fees. You can probably find lower fees, but they are not out of line with other services.
No photo available

QuickBooks Pro

The desktop version of QuickBooks pro has been a lifesaver for our business. We easily can track all transactions, bills, and invoices and keep up with account receivables & payables. We love being able to track costs per job as well as by type of expenditure. Reports make it easy to analyze any aspect of our business. Our accountants' job has become so much easier since we switched to Quickbooks allowing us to complete our taxes in a timely manner each year
Heather Pellegrini profile photo

Feature Rating Comparison

Payroll Management

Accounting by Wave
7.9
QuickBooks Pro
7.5
Pay calculation
Accounting by Wave
8.4
QuickBooks Pro
8.6
Benefit plan administration
Accounting by Wave
7.5
QuickBooks Pro
6.4
Direct deposit files
Accounting by Wave
8.0
QuickBooks Pro
8.4
Salary revision and increment management
Accounting by Wave
7.7
QuickBooks Pro
7.1
Reimbursement management
Accounting by Wave
8.0
QuickBooks Pro
7.2

Customization

Accounting by Wave
9.1
QuickBooks Pro
7.1
API for custom integration
Accounting by Wave
8.9
QuickBooks Pro
7.3
Plug-ins
Accounting by Wave
9.2
QuickBooks Pro
7.0

Security

Accounting by Wave
8.6
QuickBooks Pro
9.2
Single sign-on capability
Accounting by Wave
9.0
QuickBooks Pro
9.2
Role-based user permissions
Accounting by Wave
8.2
QuickBooks Pro
9.1

Reporting & Analytics

Accounting by Wave
8.5
QuickBooks Pro
8.6
Dashboards
Accounting by Wave
8.4
QuickBooks Pro
8.1
Standard reports
Accounting by Wave
8.3
QuickBooks Pro
9.3
Custom reports
Accounting by Wave
8.6
QuickBooks Pro
8.4

General Ledger and Configurable Accounting

Accounting by Wave
8.2
QuickBooks Pro
8.0
Accounts payable
Accounting by Wave
8.4
QuickBooks Pro
8.7
Accounts receivable
Accounting by Wave
9.1
QuickBooks Pro
8.6
Cash management
Accounting by Wave
8.1
QuickBooks Pro
8.3
Bank reconciliation
Accounting by Wave
7.8
QuickBooks Pro
8.8
Expense management
Accounting by Wave
8.5
QuickBooks Pro
8.4
Time tracking
Accounting by Wave
7.3
QuickBooks Pro
6.7
Fixed asset management
Accounting by Wave
5.2
QuickBooks Pro
7.9
Multi-currency support
Accounting by Wave
8.6
QuickBooks Pro
7.6
Multi-division support
Accounting by Wave
7.4
QuickBooks Pro
8.6
Regulations compliance
Accounting by Wave
7.3
QuickBooks Pro
8.6
Electronic tax filing
Accounting by Wave
6.0
QuickBooks Pro
8.3
Self-service portal
Accounting by Wave
9.1
QuickBooks Pro
8.2
Global Financial Support
Accounting by Wave
9.0
QuickBooks Pro
7.3
Primary and Secondary Ledgers
Accounting by Wave
9.3
QuickBooks Pro
7.8
Intercompany Accounting
Accounting by Wave
8.7
QuickBooks Pro
7.0
Localizations
Accounting by Wave
9.5
QuickBooks Pro
8.0
Journals and Reconciliations
Accounting by Wave
8.4
QuickBooks Pro
8.6
Enterprise Accounting
Accounting by Wave
8.7
QuickBooks Pro
8.2
Configurable Accounting
Accounting by Wave
8.7
QuickBooks Pro
7.7
Centralized Rules Framework
Accounting by Wave
9.0
QuickBooks Pro
6.4
Standardized Processes
Accounting by Wave
7.9
QuickBooks Pro
8.6

Inventory Management

Accounting by Wave
8.9
QuickBooks Pro
6.5
Inventory tracking
Accounting by Wave
9.5
QuickBooks Pro
8.0
Automatic reordering
Accounting by Wave
8.0
QuickBooks Pro
5.6
Location management
Accounting by Wave
9.0
QuickBooks Pro
7.4
Manufacturing module
Accounting by Wave
9.0
QuickBooks Pro
5.0

Order Management

Accounting by Wave
7.8
QuickBooks Pro
7.7
Pricing
Accounting by Wave
8.1
QuickBooks Pro
7.2
Order entry
Accounting by Wave
8.0
QuickBooks Pro
8.3
Credit card processing
Accounting by Wave
9.1
QuickBooks Pro
7.7
Cost of goods sold
Accounting by Wave
8.8
QuickBooks Pro
8.5
Order Orchestration
Accounting by Wave
8.0
QuickBooks Pro
7.5
End-to-end order visibility
Accounting by Wave
4.7
QuickBooks Pro
8.0
Order exception Resolution
Accounting by Wave
8.0
QuickBooks Pro
7.0

Accounting Firm BPO Features

Accounting by Wave
8.0
QuickBooks Pro
7.5
Branded client dashboards
Accounting by Wave
8.0
QuickBooks Pro
5.2
Client data roll-up capabilities
Accounting by Wave
8.0
QuickBooks Pro
8.0
Client data consolidation for benchmarking
Accounting by Wave
7.5
QuickBooks Pro
7.0
Configurable alerts
Accounting by Wave
8.0
QuickBooks Pro
8.9
Billing bypass
Accounting by Wave
8.0
QuickBooks Pro
8.0
Client template cloning
Accounting by Wave
8.0
QuickBooks Pro
8.1
Single sign-on
Accounting by Wave
9.0
QuickBooks Pro
8.5
Configurable client onboarding questions
Accounting by Wave
8.0
QuickBooks Pro
7.9
Cross-client workflow management
Accounting by Wave
8.0
QuickBooks Pro
7.1
Industry-specific versioning
Accounting by Wave
8.0
QuickBooks Pro
6.4
Legacy system data migration
Accounting by Wave
8.0
QuickBooks Pro
7.0

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
  • Inventory Control - we are able to easily control what inventory comes in and goes out through our use of this feature.
  • Invoicing - we are able to easily invoice clients without the hassle of hand written (and sometimes illegible) invoices. Printing, emailing and saving invoices to a PDF make getting the invoices out seamless and allows cash flow to continue uninterrupted.
  • Billing - we use this feature in an unconventional way that allows us to see what we are paying out for services rendered by contract employees. Again super easy and seamless processing of outgoing funds.
Tracie Jones profile photo

Cons

  • I've not run into anything as of yet I'd like to see improved or added
Torrey Holman profile photo
  • QuickBooks Pro could use improvement with setting the category for the transaction. Most users aren't accountants and some can easily incorrectly categorize assets as expense items. A short accounting tutorial for users might be beneficial on types of expenses or assets like inventory.
  • QuickBooks Pro could use improvement with invoices to be paid. Some users will set up an invoice and then just write the check leaving the invoice in accounts payable and doubling the entry. More could be done to remind users to either pay the invoice or take them to that area and ask if they were paying an invoice or match up transactions easier.
  • QuickBooks Pro could use improvement with fixing transactions that are either doubled or need to be matched up but some of the categories cannot be changed with a journal entry and require countless hours of time to go back and edit transactions. It would be nice if there were some kind of override for accountants so we could easily manipulate any and all categories with a journal entry to fix problems we encounter when reconciling the books for tax purposes.
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 Pro9.6
Based on 16 answers
We use it with all our clients and have several QuickBooks Pro Advisors and will renew and continue to use it with our client base. It is easy to use, helps with collecting annual data and makes compiling of information for filing annual tax returns much easier. It makes our job a lot easier, than using manual records.
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 Pro7.9
Based on 7 answers
It does the job. Mistakes can be corrected and it provides overall the information needed to complete financial statements or tax returns.
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 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 Pro7.7
Based on 6 answers
I was a BIG fan of QuickBooks support for a very long time up until recently. The representatives were well trained and wanted to solve your problem for you, as a human, not as just a customer. In my recent experiences I feel as though that is no longer so. My last conversation was appalling. The representative only read the narrative provided over and over and would not send me on to a supervisor. Finally I hung up and called back. On this try, I was passed from department to department. I was not presented with a solution until I posted a rant on their Facebook page. It amazes me that I had to publicly complain to get results.
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 Pro8.8
Based on 5 answers
No not really. I am not an IT person. Once I knew how to use it, it was quick and easy.
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
We have used Sage and Peachtree as alternatives to QuickBooks Pro and have found for the money and ease of use for any employee QuickBooks is a better option for our firm. Sage and Peachtree require more training to use and some reporting is harder to locate in the program than in QuickBooks Pro. We have clients who use other accounting solutions such as FreshBooks, Quicken and Wave but again the reporting on QuickBooks is quick and easy to use, print, and share
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 Pro8.5
Based on 22 answers
To my knowledge QuickBooks Pro can't be cloned unless you have a backup of a freshly set up with no transaction company, however, our firm hasn't set up QuickBooks for anyone in a year or more. Given that QuickBooks is easy to learn and fairly easy to fix we rated the program a 6. However, given some of the problems with categories and the ability to either mispost transactions or double up transactions we didn't give it a higher rating. One other problem with the program is that for the payroll functionality they force an upgrade when otherwise you wouldn't need to upgrade the program
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 Pro8.0
Based on 1 answer
No answer on this topic is available.

Return on Investment

  • Automatic bank transaction downloads really speeds up income and expense capture, as well as bank reconciliations.
  • Having a low cost (or in this case free) product encourages clients to use all of the features available without fear of being overcharged
  • The ability for the client to see their data online in real time whenever they want really makes the bookkeeping process much more efficient and transparent.
Eric Matthews profile photo
  • Our expertise in QB has been a plus with both attracting and retaining clients
  • It enables us to offer a reasonably priced solution to client accounting needs.
  • We can operate more efficiently as most of our clients use QB and that makes our training more efficient.
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