What users are saying about

Accounting by Wave

Top Rated
97 Ratings

Accounting by Wave

Top Rated
97 Ratings
Score 9 out of 101

Sage 50 Accounting

85 Ratings
Score 6.9 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

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
8.4
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
9.1

Customization

Accounting by Wave
9.1
Sage 50 Accounting
7.0
API for custom integration
Accounting by Wave
8.9
Sage 50 Accounting
6.9
Plug-ins
Accounting by Wave
9.2
Sage 50 Accounting
7.0

Security

Accounting by Wave
8.6
Sage 50 Accounting
9.8
Single sign-on capability
Accounting by Wave
9.0
Sage 50 Accounting
9.6
Role-based user permissions
Accounting by Wave
8.2
Sage 50 Accounting
10.0

Reporting & Analytics

Accounting by Wave
8.5
Sage 50 Accounting
9.0
Dashboards
Accounting by Wave
8.4
Sage 50 Accounting
9.6
Standard reports
Accounting by Wave
8.3
Sage 50 Accounting
9.1
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
9.6
Accounts payable
Accounting by Wave
8.4
Sage 50 Accounting
9.1
Accounts receivable
Accounting by Wave
9.1
Sage 50 Accounting
9.6
Cash management
Accounting by Wave
8.1
Sage 50 Accounting
8.7
Bank reconciliation
Accounting by Wave
7.8
Sage 50 Accounting
10.0
Expense management
Accounting by Wave
8.5
Sage 50 Accounting
9.1
Time tracking
Accounting by Wave
7.3
Sage 50 Accounting
10.0
Fixed asset management
Accounting by Wave
5.2
Sage 50 Accounting
8.3
Multi-currency support
Accounting by Wave
8.6
Sage 50 Accounting
10.0
Multi-division support
Accounting by Wave
7.4
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
9.1
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
8.4
Sage 50 Accounting
10.0
Enterprise Accounting
Accounting by Wave
8.7
Sage 50 Accounting
10.0
Configurable Accounting
Accounting by Wave
8.7
Sage 50 Accounting
10.0
Centralized Rules Framework
Accounting by Wave
9.0
Sage 50 Accounting
Standardized Processes
Accounting by Wave
7.9
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
7.8
Sage 50 Accounting
9.9
Pricing
Accounting by Wave
8.1
Sage 50 Accounting
10.0
Order entry
Accounting by Wave
8.0
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
4.7
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 invoicing is easily personalized and works well with both online delivery and with downloaded .pdf files for those who prefer to have direct invoicing from our firm.
  • The billing system makes it easy to track payments to contractors by project, however, it would be great to have a full 1099 solution. The payroll system worked well for us for several years, however, there were some bumps and learning curves. I am not using it at this time.
  • We have a few clients who use the direct payment options and while that costs us a few percentage points (and on the size of our contracts it seems to be a hefty slice), it's still worth it for the piece of mind to get the funds in rapidly. The rates are fairly competitive compared to what we usually.
  • It's useful to be able to assign access to team members or collaborators.
Geri Lynn Peak profile photo
  • Sage 50 is superior in the basic reporting suite. From the point and click general ledger and other accounting reports, transaction research and error correction and reviews a very easy.
  • Sage 50 allows for customization on most reports, including Invoices, Customer Statements and Report Forms. The less expensive programs won't let you do much more than just add your logo.
  • Detailed Inventory. You have to be a major enterprise to not be well suited by Sage50's inventory intelligence.
  • Job Tracking. Super easy as adding a job code when desired, brings to like a full suite of job costing reports and analysis.
  • Chart of Accounts segment masking. Multiple division, multiple departments, and so forth are built right in.
Reno M. Borgognoni, CPA, CIA, CGMA profile photo

Cons

  • The reports need some work. I would like to see some options for how the data is sorted (either by account number or name).
  • The payroll service is a bit limited if you have staff that have varied pay structures or are paid on different schedules.
Eric Matthews profile photo
  • Being a small business with small margin for profit, we have to be extremely careful with controlling expenses. Sage is quite expensive for a small business that may not need all the "bells and whistles" of their product.
  • Even though we are a small business, I get regular notices that our use of Sage 50 is close to exceeding the "optimum data storage", and encourages upgrading to their much more expensive Quantum product. This is irritating and if the data storage is truly in danger (probably due to not making old accounts "inactive"), then Sage should increase the data storage for their Sage 50 product.
  • I would like to see more learning programs listed for Sage University that are free and always accessible. After purchasing the Sage 50 Premium subscription for hundreds of dollars every year, the learning programs AND certification should be free.
Emily Dykema 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
It's not easy to transfer to new accounting programs. Also, for the modules we use, Sage is the most competitively priced.
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
Sage 50 Accounting8.9
Based on 4 answers
It is easy to use and very logical.
Wanda McNamara 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
They were very knowledgeable of the product, understood my timeline was limited for a software issue and allowed me to get back to my day to day work. The dial into your computer is great so you can monitor what they are doing and learn some tricks yourself
Karen Rollins 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

Wave's biggest selling point is by far it's price, because their base product for free. Most people sign-up because of that advantage. But here are my opinions of Wave Vs these three other programs I've worked in.Wave vs Freshbooks
-Freshbooks wins for invoicing because it gives you multiple options for payment processing integration and it gives you an audit trail on invoices to show when a client has viewed as well as paid. It also has a project time tracking option that you can then invoice time entries.-Wave wins the accounting side because it actually tracks assets and liabilities, not just income and expenses. -As far as user friendly and accounting knowledge necessary to use, Freshbooks is slightly easier for those with no accounting knowledge.-Wave allows bookkeepers to use their own account access through the collaborator feature, Freshbooks has "accountant" access but you can only view reports and export journal entries. If someone wants help editing transactions they have to share their login info.
Wave vs Quickbooks Online
-Quickbooks Online wins for customization and range of features especially custom reports, sub-accounts in the chart of accounts, and traditional bank reconciliation.-Wave is better in ease of use -Wave Payroll offers a Tax service that automates payroll tax filing, Quickbooks Payroll does not do that you still have to hit send
Wave vs Less Accounting
- Overall I found LessAccounting and Wave very comparable products, but LessAccounting is a paid product and Wave's base product is free w/ advertising on the sidebar.-In the range of features, Wave has more integrated options such as Payroll and Payment Processing.-LessAccounting has a strong emphasis on education and tries to educate the user on basic bookkeeping processes within the software-LessAccounting has a slightly better bank reconciliation feature, but only slightly better because you enter the starting and ending statement balances. Neither product are strong on true bank statement reconciliation.
Melissa Whaley profile photo
I've used large ERP systems that were integrated with Accounting systems and It would be unfair of me to stack them up against each other. However, I have used Quickbooks and Sage is far better and more robust - No question about it. In addition, I am sure that Sage has more potential than what we are currently using it for
Nellie Jones (MBA) 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 50 has more features than other accounting programs and doesn't allow manipulation of prior period data which is an issue with other programs.
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
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

  • Vastly improved customer service
  • Fast turnaround
  • Reduced paper piles in office
Jeff Borschowa profile photo
  • Inventory control
  • Costing
  • Employee efficiency
jeffrey burgess 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.