What users are saying about
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Top Rated
105 Ratings

Accounting by Wave

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Top Rated
105 Ratings
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Score 9.1 out of 101
90 Ratings
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Score 7.3 out of 101

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

I indicated a neutral rating due to the fact that I really haven't used other accounting programs, so I cannot compare it to others fairly. I have enjoyed using Sage 50 Premium Accounting for 20 years, but perhaps there are other programs that are very similar, but less expensive. A small, service based business, that does not utilize the inventory or assembly features probably could find another useful accounting product that is more cost effective. However, if the business wants to track detailed inventories, complex and progressive jobs, and has complex payroll needs ... then Sage 50 Premium Accounting is definitely worth the investment. Also, I have always experienced very good technical support service when needed
Emily Dykema profile photo

Feature Rating Comparison

Payroll Management

Accounting by Wave
7.9
Sage 50 Accounting
8.7
Pay calculation
Accounting by Wave
8.2
Sage 50 Accounting
9.2
Benefit plan administration
Accounting by Wave
7.5
Sage 50 Accounting
8.8
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
8.8
Reimbursement management
Accounting by Wave
8.0
Sage 50 Accounting
8.6

Customization

Accounting by Wave
8.8
Sage 50 Accounting
7.0
API for custom integration
Accounting by Wave
8.7
Sage 50 Accounting
6.9
Plug-ins
Accounting by Wave
8.8
Sage 50 Accounting
7.0

Security

Accounting by Wave
8.5
Sage 50 Accounting
9.9
Single sign-on capability
Accounting by Wave
9.1
Sage 50 Accounting
9.7
Role-based user permissions
Accounting by Wave
7.9
Sage 50 Accounting
10.0

Reporting & Analytics

Accounting by Wave
8.5
Sage 50 Accounting
8.2
Dashboards
Accounting by Wave
8.5
Sage 50 Accounting
6.6
Standard reports
Accounting by Wave
8.3
Sage 50 Accounting
8.8
Custom reports
Accounting by Wave
8.6
Sage 50 Accounting
9.2

General Ledger and Configurable Accounting

Accounting by Wave
8.3
Sage 50 Accounting
9.5
Accounts payable
Accounting by Wave
8.6
Sage 50 Accounting
9.1
Accounts receivable
Accounting by Wave
9.2
Sage 50 Accounting
9.2
Cash management
Accounting by Wave
8.1
Sage 50 Accounting
9.1
Bank reconciliation
Accounting by Wave
7.9
Sage 50 Accounting
10.0
Expense management
Accounting by Wave
8.5
Sage 50 Accounting
9.1
Time tracking
Accounting by Wave
7.5
Sage 50 Accounting
10.0
Fixed asset management
Accounting by Wave
6.8
Sage 50 Accounting
9.5
Multi-currency support
Accounting by Wave
8.3
Sage 50 Accounting
8.7
Multi-division support
Accounting by Wave
7.4
Sage 50 Accounting
10.0
Regulations compliance
Accounting by Wave
7.3
Sage 50 Accounting
8.7
Electronic tax filing
Accounting by Wave
6.0
Sage 50 Accounting
10.0
Self-service portal
Accounting by Wave
8.9
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
8.6
Sage 50 Accounting
10.0
Localizations
Accounting by Wave
9.5
Sage 50 Accounting
10.0
Journals and Reconciliations
Accounting by Wave
8.2
Sage 50 Accounting
8.9
Enterprise Accounting
Accounting by Wave
8.7
Sage 50 Accounting
8.7
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
8.1
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
8.0
Sage 50 Accounting
10.0
Pricing
Accounting by Wave
8.3
Sage 50 Accounting
10.0
Order entry
Accounting by Wave
8.4
Sage 50 Accounting
9.7
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
5.4
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

Accounting by Wave

  • Invoices are so easy to execute. Whether they are one-off or recurring, fixed or variable, single item or multiple line entries, they come out looking professional, polished and they get sent without any fuss. Put your client's info on them, add your logo, describe the services, add notes, set due dates, etc. all without cracking an abacus.
  • It's a little thing but I love how the estimates feature integrates with Invoices. You start by making an estimate for a client, with a defined expiry date. Once they accept, you can convert that estimate immediately into an Invoice and set it up to send.
  • Built-in payment processing is great. I don't have to worry about Paypal or Stripe or anything, Wave just handles my client's credit cards so I don't have to do a thing. They even have recurring billing for my retainer clients!
J.P. VanderLinden profile photo

Sage 50 Accounting

  • We can build "templates" for recurrent charges/invoices. This saves some time and also ensures that we always use the right accounting rubric.
  • A lot of additional information can be filled out such as client information (name, address, ...) which makes the software a little more complete.
  • If you don't need an updated version every year (my case) then the software is not too expensive. The pro version that I'm using was just a little over $300.
  • I really like the banking statement consolidation which allows you to ensure you got the right information registered.
No photo available

Cons

Accounting by Wave

  • I know that credit card processing is a way for Wave to make money, but I really wish they offered ACH payment on Invoices.
  • I do cash-based accounting, which means I have to make little journal entries at the start and end of each year to get my books to balance because Wave wants to do everything differently. This should just be a setting to flip, whether you want cash-based or accrual-based.
  • They use Yodlee for bank connection, which doesn't play nice with 2FA. Pretty much every time I log in I have to re-enter credentials, get a code sent to me, reauthenticate, and know that I'm going to have to do it again next week. Not really on Wave, but wish they could get it together nonetheless.
J.P. VanderLinden profile photo

Sage 50 Accounting

  • The software uses a server service in addition to the software itself. Both of these are quite demanding on a lower end workstation. Most of the time, when booting up the PC, the server service would not start and I would have to start it manually. I changed the laptops main hard drive for an SSD one and didn't get any problems since. Just don't expect that software to be light, it's quite demanding on the system.
  • Not having an accounting background, I find myself often lost in the interface. I never know exactly where to input the information that I need to. To be fair, I would probably have the same problems with any accounting software.
No photo available

Likelihood to Renew

Accounting by Wave

Accounting by Wave 7.8
Based on 3 answers
Easy to use for clients with no accounting background and the price is right.
Jeanne Harris profile photo

Sage 50 Accounting

Sage 50 Accounting 9.6
Based on 12 answers
There really is not another product out there in terms of cost and ease of use that I would replace Sage for. It satisfies my current needs and I rarely have any other issues
Nellie Jones (MBA) profile photo

Usability

Accounting by Wave

Accounting by Wave 5.3
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 Accounting

Sage 50 Accounting 8.9
Based on 4 answers
It is easy to use and very logical.
Wanda McNamara profile photo

Reliability and Availability

Accounting by Wave

Accounting by Wave 6.7
Based on 4 answers
WAVE is always available when we need it ! Peter
Peter Cullen profile photo

Sage 50 Accounting

No score
No answers yet
No answers on this topic

Performance

Accounting by Wave

Accounting by Wave 2.9
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

Sage 50 Accounting

No score
No answers yet
No answers on this topic

Support

Accounting by Wave

Accounting by Wave 9.0
Based on 1 answer
If they had live chat service then I'd rate this a 10.
Matthew Gehrman profile photo

Sage 50 Accounting

Sage 50 Accounting 9.4
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 Wave

Accounting by Wave 4.7
Based on 3 answers
easy to use and east to train on ! Our WAVE clients enjoy the ease of use
Peter Cullen profile photo

Sage 50 Accounting

No score
No answers yet
No answers on this topic

Implementation

Accounting by Wave

No score
No answers yet
No answers on this topic

Sage 50 Accounting

Sage 50 Accounting 9.0
Based on 4 answers
We implemented Sage 50 Premium Accounting in house, not using any third party or professional service. It was a relatively trouble free process, but can be tricky. Just read all instructions carefully, especially if you need to load the program on a network with more than one user
Emily Dykema profile photo

Alternatives Considered

Accounting by Wave

Zoho has many modules that can be integrated, including CRM, but Wave is pretty much ready to use 5 minutes after signing up.
No photo available

Sage 50 Accounting

Our firm also uses QuickBooks. While I enjoy the user friendly aspects of this program, it can be changed too easily which increases client time
No photo available

Scalability

Accounting by Wave

Accounting by Wave 3.0
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 Accounting

Sage 50 Accounting 9.1
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

Accounting by Wave

  • Wave has enabled our accounts payable to maintain a 99% closure rate by leveraging auto reminders through the email system.
  • Our quote to invoice process is a single click, saving time and effort. Even minor changes during that transition occur simply and easily.
  • Aside from payments, Wave has been free for our usage. Our bottom line is better because we're not investing in software but instead embracing an entire ecosystem.
No photo available

Sage 50 Accounting

  • Sage 50 has led to Positive ROI for us, as it has allowed us to manage the finances of the church and to keep everything in check.
  • Being able to reconcile our bank accounts has really gone a long way towards keeping our confidence up.
No photo available

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.

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