What users are saying about

Accounting by Wave

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Top Rated
102 Ratings

Accounting by Wave

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Top Rated
102 Ratings
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Score 9.1 out of 101
86 Ratings
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Score 6.9 out of 101

Add comparison

Likelihood to Recommend

Accounting by Wave

Wave is free to use, and they have some premium features you can pay for. For someone just starting out as a small business, freelancer or independent contractor, this is a Godsend. You can look professional, have something easy to manage, and yet also have excellent records come the end of the year. You won't spend a bunch of time having to learn the program, it's very intuitive and you get a host of great features that will make getting paid easy.
J.P. VanderLinden profile photo

Sage 50 Accounting

It easy to train employees to use the software and it can be used for small to midsize for monitoring company and department performance. It allows for customized reporting and the BI function allows for company visibility, forecasting and numerical and visual graphical illustration for management meeting. Add that to the great price and awesome Customer and Technical Service and you definitely get a "BANG" for your money
Karen Rollins profile photo

Feature Rating Comparison

Payroll Management

Accounting by Wave
7.9
Sage 50 Accounting
9.2
Pay calculation
Accounting by Wave
8.3
Sage 50 Accounting
9.6
Benefit plan administration
Accounting by Wave
7.5
Sage 50 Accounting
9.6
Direct deposit files
Accounting by Wave
8.0
Sage 50 Accounting
8.0
Salary revision and increment management
Accounting by Wave
7.7
Sage 50 Accounting
9.6
Reimbursement management
Accounting by Wave
8.0
Sage 50 Accounting
9.2

Customization

Accounting by Wave
9.0
Sage 50 Accounting
7.0
API for custom integration
Accounting by Wave
8.9
Sage 50 Accounting
6.9
Plug-ins
Accounting by Wave
9.1
Sage 50 Accounting
7.0

Security

Accounting by Wave
8.6
Sage 50 Accounting
9.8
Single sign-on capability
Accounting by Wave
9.1
Sage 50 Accounting
9.6
Role-based user permissions
Accounting by Wave
8.1
Sage 50 Accounting
10.0

Reporting & Analytics

Accounting by Wave
8.4
Sage 50 Accounting
9.1
Dashboards
Accounting by Wave
8.4
Sage 50 Accounting
9.6
Standard reports
Accounting by Wave
8.3
Sage 50 Accounting
9.2
Custom reports
Accounting by Wave
8.6
Sage 50 Accounting
8.4

General Ledger and Configurable Accounting

Accounting by Wave
8.2
Sage 50 Accounting
9.7
Accounts payable
Accounting by Wave
8.6
Sage 50 Accounting
9.2
Accounts receivable
Accounting by Wave
9.2
Sage 50 Accounting
9.6
Cash management
Accounting by Wave
8.0
Sage 50 Accounting
8.8
Bank reconciliation
Accounting by Wave
7.8
Sage 50 Accounting
10.0
Expense management
Accounting by Wave
8.5
Sage 50 Accounting
9.2
Time tracking
Accounting by Wave
7.3
Sage 50 Accounting
10.0
Fixed asset management
Accounting by Wave
6.3
Sage 50 Accounting
8.4
Multi-currency support
Accounting by Wave
8.5
Sage 50 Accounting
10.0
Multi-division support
Accounting by Wave
7.5
Sage 50 Accounting
10.0
Regulations compliance
Accounting by Wave
7.3
Sage 50 Accounting
10.0
Electronic tax filing
Accounting by Wave
6.0
Sage 50 Accounting
10.0
Self-service portal
Accounting by Wave
9.0
Sage 50 Accounting
10.0
Global Financial Support
Accounting by Wave
9.0
Sage 50 Accounting
8.0
Primary and Secondary Ledgers
Accounting by Wave
9.3
Sage 50 Accounting
10.0
Intercompany Accounting
Accounting by Wave
8.7
Sage 50 Accounting
10.0
Localizations
Accounting by Wave
9.5
Sage 50 Accounting
10.0
Journals and Reconciliations
Accounting by Wave
8.1
Sage 50 Accounting
10.0
Enterprise Accounting
Accounting by Wave
8.7
Sage 50 Accounting
10.0
Configurable Accounting
Accounting by Wave
8.5
Sage 50 Accounting
10.0
Centralized Rules Framework
Accounting by Wave
9.0
Sage 50 Accounting
Standardized Processes
Accounting by Wave
8.0
Sage 50 Accounting
10.0

Inventory Management

Accounting by Wave
8.9
Sage 50 Accounting
6.8
Inventory tracking
Accounting by Wave
9.5
Sage 50 Accounting
8.0
Automatic reordering
Accounting by Wave
8.0
Sage 50 Accounting
6.4
Location management
Accounting by Wave
9.0
Sage 50 Accounting
6.8
Manufacturing module
Accounting by Wave
9.0
Sage 50 Accounting
5.9

Order Management

Accounting by Wave
7.9
Sage 50 Accounting
9.9
Pricing
Accounting by Wave
8.3
Sage 50 Accounting
10.0
Order entry
Accounting by Wave
8.3
Sage 50 Accounting
9.6
Credit card processing
Accounting by Wave
9.1
Sage 50 Accounting
10.0
Cost of goods sold
Accounting by Wave
8.8
Sage 50 Accounting
10.0
Order Orchestration
Accounting by Wave
8.0
Sage 50 Accounting
10.0
End-to-end order visibility
Accounting by Wave
4.8
Sage 50 Accounting
10.0
Order exception Resolution
Accounting by Wave
8.0
Sage 50 Accounting
10.0

Accounting Firm BPO Features

Accounting by Wave
8.0
Sage 50 Accounting
9.8
Branded client dashboards
Accounting by Wave
8.0
Sage 50 Accounting
8.0
Client data roll-up capabilities
Accounting by Wave
8.0
Sage 50 Accounting
10.0
Client data consolidation for benchmarking
Accounting by Wave
7.5
Sage 50 Accounting
10.0
Configurable alerts
Accounting by Wave
8.0
Sage 50 Accounting
10.0
Billing bypass
Accounting by Wave
8.0
Sage 50 Accounting
10.0
Client template cloning
Accounting by Wave
8.0
Sage 50 Accounting
10.0
Single sign-on
Accounting by Wave
9.0
Sage 50 Accounting
10.0
Configurable client onboarding questions
Accounting by Wave
8.0
Sage 50 Accounting
10.0
Cross-client workflow management
Accounting by Wave
8.0
Sage 50 Accounting
10.0
Industry-specific versioning
Accounting by Wave
8.0
Sage 50 Accounting
10.0
Legacy system data migration
Accounting by Wave
8.0
Sage 50 Accounting
10.0

Pros

  • The ease of use with Wave makes it a great tool. Someone without much accounting experience can jump in and use the software.
  • The reports features in Wave make looking at financial statements a breeze. In addition you can quickly drill down into expense categories to see all transactions of a certain type.
  • It is very easy to generate a sales invoice and see the average period for our company to get paid.
  • I love the Wave Invoice app where we can track invoices on the go and verify payment history.
Lukas Sundahl, MBA profile photo
  • It has the capability of "Single Click" processes that allows you to turn Quotes into orders, instant invoicing and track A/R in the Order Screen
  • I can email Sales Orders directly to my Customer and also remind them of past due from a single screen. I can track Project, Closeouts, Over Seas order by setting up Jobs and clicking the job name in Order Entry.
  • You can use recurring entries and copy and paste on the P&L, using masking for department reporting and budgeting
  • You can use the BI feature and export into Excel in Pivot format and utilize Timeline and Slicer to see the company overall performance by months, day or years
Karen Rollins profile photo

Cons

  • One area of improvement for Wave would be combining the various mobile applications into one app.
  • Another room for improvement would be on the dashboard level. It would be great if they could use more bar graphs and get away from pie charts for things like expenses.
  • Some of the other areas from improvement have been addressed by recent updates so I am excited to see what else Wave brings out.
Lukas Sundahl, MBA profile photo
  • Sage 50 could use some improvement in the Invoicing Module to allow for more flexibility in the design of the Invoice fields. The report customization tools could use some upgrading for easier use.
  • Fixed assets management module needs to be included with unlimited number of fixed assets.
Reno M. Borgognoni, CPA, CIA, CGMA 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
Sage 50 Accounting9.6
Based on 12 answers
We are invested in the product after twenty years.
Emily Dykema 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
Sage 50 Accounting8.9
Based on 4 answers
I have used Sage 50 Premium Accounting for twenty years, and only used their technical support team three times
Emily Dykema 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
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
Sage 50 Accounting9.4
Based on 3 answers
Although I have only needed to call tech support on three occasions through out the entire time of usage, each time my problem was quickly resolved by people who were obviously well trained and easy to understand. Sage 50 Premium Accounting is a reliable and "bug-free" product that is regularly improved upon.
Emily Dykema 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
Sage 50 Accounting9.0
Based on 4 answers
I do great work and have implemented many companies
Wanda McNamara profile photo

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
While QuickBooks is a great program, we found Sage to be a better fit for our company. QuickBooks does, however, offer more integration with other software applications and some even require QuickBooks to run.
Jay Barwick 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
Sage 50 Accounting8.2
Based on 4 answers
Sage can handle multiple clients and I pretty much have not been able to find s business I couldn't use Sage 50 for
Reno M. Borgognoni, CPA, CIA, CGMA 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
Sage 50 Accounting9.1
Based on 1 answer
I define scalable from two perspectives; 1) the scalability to handle more bookkeepers/accountants using the product, and 2) the scalability to handle increasing customer/vendor/employee and transactional data. Sage 50 does a good job on both fronts. From the single users operating a micro-business accounting for customer invoices and bill payments only, to the multi-staff, multi-location, multi-departmental complex transactional operation. Although Sage 50 is quite expensive for that smallest user, it is quite inexpensive for the larger business entity. So, for the new enterprise expecting rapid growth, Sage 50 is the application of choice.
Reno M. Borgognoni, CPA, CIA, CGMA profile photo

Return on Investment

  • 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
  • Simple to use. Less accounting staff needed.
  • Robust features and great support. Able to do more with less downtime.
  • Frequent updates keep tax tables up to date and correct.
Jay Barwick profile photo

Pricing Details

Accounting by Wave

General
Free Trial
Free/Freemium Version
Premium Consulting/Integration Services
Entry-level set up fee?
No
Accounting by Wave Editions & Modules
Accounting by Wave
Additional Pricing Details

Sage 50 Accounting

General
Free Trial
Yes
Free/Freemium Version
Premium Consulting/Integration Services
Yes
Entry-level set up fee?
No
Sage 50 Accounting Editions & Modules
Sage 50 Accounting
Edition
Sage 50 Pro Accounting
$2991
Sage 50 Premium Accounting
$4492
Sage 50 Quantum Accounting 3 User
Starting at $1,4993
1. Per year
2. Per Year
3. Per year
Additional Pricing Details
Annual traditional plan with license, monthly, and annual subscription plans available.