What users are saying about

Accounting by Wave

Top Rated
97 Ratings

Accounting by Wave

Top Rated
97 Ratings
Score 9 out of 101

QuickBooks Self-Employed

21 Ratings
Score 8.1 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 Self-Employed

As the name of the program suggests, QuickBooks Self-Employed is best-suited for self-employed people, freelancers and solo entrepreneurs would find the tools within to be exceptionally useful to keep track of expenses so they can focus on more profitable activities. Other QuickBooks tiers might be more fitting for small businesses and larger companies.
Benjamin E. Jerew profile photo

Feature Rating Comparison

Payroll Management

Accounting by Wave
7.9
QuickBooks Self-Employed
10.0
Pay calculation
Accounting by Wave
8.4
QuickBooks Self-Employed
10.0
Benefit plan administration
Accounting by Wave
7.5
QuickBooks Self-Employed
10.0
Direct deposit files
Accounting by Wave
8.0
QuickBooks Self-Employed
10.0
Salary revision and increment management
Accounting by Wave
7.7
QuickBooks Self-Employed
10.0
Reimbursement management
Accounting by Wave
8.0
QuickBooks Self-Employed
10.0

Customization

Accounting by Wave
9.1
QuickBooks Self-Employed
10.0
API for custom integration
Accounting by Wave
8.9
QuickBooks Self-Employed
10.0
Plug-ins
Accounting by Wave
9.2
QuickBooks Self-Employed
10.0

Security

Accounting by Wave
8.6
QuickBooks Self-Employed
9.9
Single sign-on capability
Accounting by Wave
9.0
QuickBooks Self-Employed
9.8
Role-based user permissions
Accounting by Wave
8.2
QuickBooks Self-Employed
10.0

Reporting & Analytics

Accounting by Wave
8.5
QuickBooks Self-Employed
8.2
Dashboards
Accounting by Wave
8.4
QuickBooks Self-Employed
8.5
Standard reports
Accounting by Wave
8.3
QuickBooks Self-Employed
8.3
Custom reports
Accounting by Wave
8.6
QuickBooks Self-Employed
7.9

General Ledger and Configurable Accounting

Accounting by Wave
8.2
QuickBooks Self-Employed
9.0
Accounts payable
Accounting by Wave
8.4
QuickBooks Self-Employed
9.6
Accounts receivable
Accounting by Wave
9.1
QuickBooks Self-Employed
9.6
Cash management
Accounting by Wave
8.1
QuickBooks Self-Employed
8.1
Bank reconciliation
Accounting by Wave
7.8
QuickBooks Self-Employed
9.6
Expense management
Accounting by Wave
8.5
QuickBooks Self-Employed
7.8
Time tracking
Accounting by Wave
7.3
QuickBooks Self-Employed
7.3
Fixed asset management
Accounting by Wave
5.2
QuickBooks Self-Employed
10.0
Multi-currency support
Accounting by Wave
8.6
QuickBooks Self-Employed
10.0
Multi-division support
Accounting by Wave
7.4
QuickBooks Self-Employed
10.0
Regulations compliance
Accounting by Wave
7.3
QuickBooks Self-Employed
10.0
Electronic tax filing
Accounting by Wave
6.0
QuickBooks Self-Employed
8.4
Self-service portal
Accounting by Wave
9.1
QuickBooks Self-Employed
9.3
Global Financial Support
Accounting by Wave
9.0
QuickBooks Self-Employed
10.0
Primary and Secondary Ledgers
Accounting by Wave
9.3
QuickBooks Self-Employed
10.0
Intercompany Accounting
Accounting by Wave
8.7
QuickBooks Self-Employed
10.0
Localizations
Accounting by Wave
9.5
QuickBooks Self-Employed
10.0
Journals and Reconciliations
Accounting by Wave
8.4
QuickBooks Self-Employed
4.3
Enterprise Accounting
Accounting by Wave
8.7
QuickBooks Self-Employed
10.0
Configurable Accounting
Accounting by Wave
8.7
QuickBooks Self-Employed
10.0
Centralized Rules Framework
Accounting by Wave
9.0
QuickBooks Self-Employed
10.0
Standardized Processes
Accounting by Wave
7.9
QuickBooks Self-Employed
5.6

Inventory Management

Accounting by Wave
8.9
QuickBooks Self-Employed
10.0
Inventory tracking
Accounting by Wave
9.5
QuickBooks Self-Employed
10.0
Automatic reordering
Accounting by Wave
8.0
QuickBooks Self-Employed
10.0
Location management
Accounting by Wave
9.0
QuickBooks Self-Employed
10.0
Manufacturing module
Accounting by Wave
9.0
QuickBooks Self-Employed
10.0

Order Management

Accounting by Wave
7.8
QuickBooks Self-Employed
10.0
Pricing
Accounting by Wave
8.1
QuickBooks Self-Employed
10.0
Order entry
Accounting by Wave
8.0
QuickBooks Self-Employed
10.0
Credit card processing
Accounting by Wave
9.1
QuickBooks Self-Employed
10.0
Cost of goods sold
Accounting by Wave
8.8
QuickBooks Self-Employed
10.0
Order Orchestration
Accounting by Wave
8.0
QuickBooks Self-Employed
10.0
End-to-end order visibility
Accounting by Wave
4.7
QuickBooks Self-Employed
10.0
Order exception Resolution
Accounting by Wave
8.0
QuickBooks Self-Employed
10.0

Accounting Firm BPO Features

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

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
  • Easy to keep track of expenditures such as mileage, equipment purchases, equipment rentals, really anything we use for our business
  • Helps keep track of our income and which clients paid what.
  • It's inexpensive compared to hiring an accountant.
Nathanial Holt profile photo

Cons

  • I would like to see the bank reconciliation module fleshed out. There is a basic version but no reconciling screen.
  • Their is an optical character recognition app called "Receipts by Wave" that try as I might, I just can't seem to get it to work. Some further development there would be nice.
Michele Craig CPA,CMA profile photo
  • Notifications
  • Taxes
Andreas Jones - LSSGB, CPP, CSCS 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 Self-Employed10.0
Based on 1 answer
No answer on this topic is 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
No score
No answers yet
No answers on this topic

Reliability and Availability

Accounting by Wave6.7
Based on 4 answers
WAVE is always available when we need it ! Peter
Peter Cullen profile photo
No score
No answers yet
No answers on this topic

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
No score
No answers yet
No answers on this topic

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

Accounting by Wave has a similar target market to FreshBooks, however Accounting by Wave is a full GL solution whereas FreshBooks provides cash flow and receivables tracking. I would definitely recommend Accounting by Wave over FreshBooks for that reason. Also FreshBooks isn't free to use if you have more than one customer.Accounting by Wave is similar to QuickBooks Online however QBO does offer a full bank reconciliation module and the ability to track different business processes (if you use the higher version). They are continually adding functionality and appear to be aiming for a full service solution to replace their very popular desktop version. Accounting by Wave, on the other hand, offers a great solution for owners who mix business and personal funds including personal expense tracking if desired.
Michele Craig CPA,CMA profile photo
We just trust QuickBooks more than CloudBooks because it's been on the market longer and it's not a net-based service.
Nathanial Holt 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

  • For our clients, better visibility into their business is one of the biggest impacts
  • Mobile access to records, especially as an advisor working with the client remotely is huge
  • For our clients, being able to track receipts and accept payment from a mobile phone while on-site with the client is big.
Tory Norman, CPA profile photo
  • Ease of use
  • User experience
  • User interface
Andreas Jones - LSSGB, CPP, CSCS 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 Self-Employed

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