What users are saying about

Accounting by Wave

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Top Rated
102 Ratings
Top Rated
100 Ratings

Accounting by Wave

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Top Rated
102 Ratings
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Score 9.1 out of 101
Top Rated
100 Ratings
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Score 8 out of 101

Add comparison

Likelihood to Recommend

Accounting by Wave

Wave is great at small business accounting where fairly simple quotes and invoices can be set up and payments can be received online or as mailed checks. Other or more complicated situations are not well suited to the platform. Any business that takes in Bitcoin or other alternative currencies will struggle to link the account types together
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SAP Business One

SAP is well suited for businesses with a large amount of inventory to track, businesses with a massive customer/vendor database, etc. However, SAP Business One can be a little pricy, and for very small companies I would not recommend it. Potential buyers should ask questions about importing information from a prior system because this process can take a long-time to switch from an older system.
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Feature Rating Comparison

Payroll Management

Accounting by Wave
7.9
SAP Business One
7.9
Pay calculation
Accounting by Wave
8.3
SAP Business One
8.3
Benefit plan administration
Accounting by Wave
7.5
SAP Business One
8.0
Direct deposit files
Accounting by Wave
8.0
SAP Business One
7.3
Salary revision and increment management
Accounting by Wave
7.7
SAP Business One
7.8
Reimbursement management
Accounting by Wave
8.0
SAP Business One
8.3

Customization

Accounting by Wave
9.0
SAP Business One
8.4
API for custom integration
Accounting by Wave
8.9
SAP Business One
8.4
Plug-ins
Accounting by Wave
9.1
SAP Business One
8.5

Security

Accounting by Wave
8.6
SAP Business One
9.3
Single sign-on capability
Accounting by Wave
9.1
SAP Business One
9.3
Role-based user permissions
Accounting by Wave
8.1
SAP Business One
9.4

Reporting & Analytics

Accounting by Wave
8.4
SAP Business One
9.2
Dashboards
Accounting by Wave
8.4
SAP Business One
9.5
Standard reports
Accounting by Wave
8.3
SAP Business One
9.0
Custom reports
Accounting by Wave
8.6
SAP Business One
9.1

General Ledger and Configurable Accounting

Accounting by Wave
8.2
SAP Business One
6.5
Accounts payable
Accounting by Wave
8.6
SAP Business One
9.1
Accounts receivable
Accounting by Wave
9.2
SAP Business One
8.5
Cash management
Accounting by Wave
8.0
SAP Business One
Bank reconciliation
Accounting by Wave
7.8
SAP Business One
Expense management
Accounting by Wave
8.5
SAP Business One
Time tracking
Accounting by Wave
7.3
SAP Business One
Fixed asset management
Accounting by Wave
6.3
SAP Business One
Multi-currency support
Accounting by Wave
8.5
SAP Business One
Multi-division support
Accounting by Wave
7.5
SAP Business One
Regulations compliance
Accounting by Wave
7.3
SAP Business One
Electronic tax filing
Accounting by Wave
6.0
SAP Business One
Self-service portal
Accounting by Wave
9.0
SAP Business One
Global Financial Support
Accounting by Wave
9.0
SAP Business One
8.7
Primary and Secondary Ledgers
Accounting by Wave
9.3
SAP Business One
8.6
Intercompany Accounting
Accounting by Wave
8.7
SAP Business One
8.8
Localizations
Accounting by Wave
9.5
SAP Business One
8.6
Journals and Reconciliations
Accounting by Wave
8.1
SAP Business One
9.0
Enterprise Accounting
Accounting by Wave
8.7
SAP Business One
8.3
Configurable Accounting
Accounting by Wave
8.5
SAP Business One
8.0
Centralized Rules Framework
Accounting by Wave
9.0
SAP Business One
8.1
Standardized Processes
Accounting by Wave
8.0
SAP Business One
8.8

Inventory Management

Accounting by Wave
8.9
SAP Business One
9.0
Inventory tracking
Accounting by Wave
9.5
SAP Business One
9.4
Automatic reordering
Accounting by Wave
8.0
SAP Business One
9.0
Location management
Accounting by Wave
9.0
SAP Business One
9.1
Manufacturing module
Accounting by Wave
9.0
SAP Business One
8.6

Order Management

Accounting by Wave
7.9
SAP Business One
9.0
Pricing
Accounting by Wave
8.3
SAP Business One
9.6
Order entry
Accounting by Wave
8.3
SAP Business One
9.4
Credit card processing
Accounting by Wave
9.1
SAP Business One
8.7
Cost of goods sold
Accounting by Wave
8.8
SAP Business One
9.0
Order Orchestration
Accounting by Wave
8.0
SAP Business One
8.6
End-to-end order visibility
Accounting by Wave
4.8
SAP Business One
9.4
Order exception Resolution
Accounting by Wave
8.0
SAP Business One
8.7

Accounting Firm BPO Features

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

Subledger and Financial Process

Accounting by Wave
SAP Business One
8.6
Automated Invoice Processing
Accounting by Wave
SAP Business One
9.1
Shared Services Payments
Accounting by Wave
SAP Business One
8.3
Billings Management
Accounting by Wave
SAP Business One
8.3
Customer Receipt Applications
Accounting by Wave
SAP Business One
8.8
Customer Collections
Accounting by Wave
SAP Business One
8.7
Revenue Recognition
Accounting by Wave
SAP Business One
8.7
Cash Management
Accounting by Wave
SAP Business One
8.7
Asset Management
Accounting by Wave
SAP Business One
8.7
Travel & Expense Management
Accounting by Wave
SAP Business One
8.5
Budgetary Control & Encumbrance Accounting
Accounting by Wave
SAP Business One
8.0
Period Close
Accounting by Wave
SAP Business One
8.8
Transactions Tax
Accounting by Wave
SAP Business One
9.2
Subledger Reconciliations
Accounting by Wave
SAP Business One
8.8
3rd Party Accounting Systems
Accounting by Wave
SAP Business One
8.2

Project Financial Management

Accounting by Wave
SAP Business One
8.4
Budgeting and Forecasting
Accounting by Wave
SAP Business One
8.7
Project Costing
Accounting by Wave
SAP Business One
8.6
Cost Capture
Accounting by Wave
SAP Business One
8.6
Capital Project Management
Accounting by Wave
SAP Business One
7.9
Customer Invoicing
Accounting by Wave
SAP Business One
8.6
Customer Contract Compliance
Accounting by Wave
SAP Business One
8.5
Project Revenue Recognition
Accounting by Wave
SAP Business One
8.4
Project Financial Performance Analysis
Accounting by Wave
SAP Business One
8.0
Project Financials Dashboard
Accounting by Wave
SAP Business One
8.5
Real-time Financial Reporting
Accounting by Wave
SAP Business One
8.9
Embedded Business Intelligence
Accounting by Wave
SAP Business One
8.2
Project Planning Collaboration
Accounting by Wave
SAP Business One
8.0

Project Execution Management

Accounting by Wave
SAP Business One
7.0
Project Planning and Scheduling
Accounting by Wave
SAP Business One
7.0
Project Manager Dashboard
Accounting by Wave
SAP Business One
7.5
Resource Manager Dashboard
Accounting by Wave
SAP Business One
6.4
Task Insight for Project Managers
Accounting by Wave
SAP Business One
6.3
Project Manager Mobile Functionality
Accounting by Wave
SAP Business One
6.2
Team Member Task Collaboration
Accounting by Wave
SAP Business One
7.4
Team Member Mobile Functionality
Accounting by Wave
SAP Business One
6.7
Project Candidate Search
Accounting by Wave
SAP Business One
6.4
Project Candidate Comparison and Analysis
Accounting by Wave
SAP Business One
7.2
Defineable Resource Pools
Accounting by Wave
SAP Business One
7.0
Defineable Resource Pools
Accounting by Wave
SAP Business One
6.6
Talent Profiles
Accounting by Wave
SAP Business One
8.0
Real-Time Project Reporting
Accounting by Wave
SAP Business One
7.2
Absence Management
Accounting by Wave
SAP Business One
8.0
Product Lifecycle Management
Accounting by Wave
SAP Business One
7.0

Grants Management

Accounting by Wave
SAP Business One
7.7
Award Lifecycle Management
Accounting by Wave
SAP Business One
8.6
Spending Control
Accounting by Wave
SAP Business One
7.0
Indirect Cost Management
Accounting by Wave
SAP Business One
6.8
Billing
Accounting by Wave
SAP Business One
8.4

Procurement

Accounting by Wave
SAP Business One
8.0
Sourcing Team Collaboration
Accounting by Wave
SAP Business One
7.6
Sourcing Analysis
Accounting by Wave
SAP Business One
8.5
Bids Analyzed and Compared
Accounting by Wave
SAP Business One
7.9
Catalog Shopping E-Commerce for Employees
Accounting by Wave
SAP Business One
7.4
Contract Authoring
Accounting by Wave
SAP Business One
7.9
Contract Compliance Management
Accounting by Wave
SAP Business One
7.9
Contract History
Accounting by Wave
SAP Business One
8.1
Contract Renewal Automation
Accounting by Wave
SAP Business One
8.6
Contract Repository
Accounting by Wave
SAP Business One
8.5
Contract Standardization and Enforcement
Accounting by Wave
SAP Business One
7.5
Electronic Signatures
Accounting by Wave
SAP Business One
6.8
Invoice Automated Matching
Accounting by Wave
SAP Business One
8.0
Purchasing Risk and Compliance Management
Accounting by Wave
SAP Business One
7.0
Requisitions-to-Purchase Orders Integrated
Accounting by Wave
SAP Business One
9.0
Spend Compliance Management
Accounting by Wave
SAP Business One
7.5
Supplier Assessment
Accounting by Wave
SAP Business One
8.4
Supplier Communication and Collaboration
Accounting by Wave
SAP Business One
8.1
Supplier Management
Accounting by Wave
SAP Business One
8.9
Supplier Portal
Accounting by Wave
SAP Business One
8.5

Risk Management

Accounting by Wave
SAP Business One
9.2
Risk Repository
Accounting by Wave
SAP Business One
9.5
Control Management
Accounting by Wave
SAP Business One
9.0
Control Mapping
Accounting by Wave
SAP Business One
9.0
Control Efficiency Assessments
Accounting by Wave
SAP Business One
9.5
Automated Control Assessments
Accounting by Wave
SAP Business One
9.5
Assessment Capture
Accounting by Wave
SAP Business One
9.5
Issue Detection
Accounting by Wave
SAP Business One
8.3
Automatic Notification
Accounting by Wave
SAP Business One
8.7
Remediation and Certification
Accounting by Wave
SAP Business One
9.5

Logistics

Accounting by Wave
SAP Business One
8.1
Transportation Planning and Optimization
Accounting by Wave
SAP Business One
8.1
Transportation Sourcing Management
Accounting by Wave
SAP Business One
8.4
Transportation Process Integration
Accounting by Wave
SAP Business One
7.7
Transportation Execution Management
Accounting by Wave
SAP Business One
8.1
Freight Payment Automation
Accounting by Wave
SAP Business One
8.4
Trade Management
Accounting by Wave
SAP Business One
7.6
Trade Regulatory Compliance Management
Accounting by Wave
SAP Business One
7.9
Customs Entry Management
Accounting by Wave
SAP Business One
8.1
Customs Document Management
Accounting by Wave
SAP Business One
8.2
Customs Document Collaboration
Accounting by Wave
SAP Business One
7.8
Fulfillment Management
Accounting by Wave
SAP Business One
8.3
Inventory Visibility
Accounting by Wave
SAP Business One
9.1
Warehouse Workforce Management
Accounting by Wave
SAP Business One
8.1

Manufacturing

Accounting by Wave
SAP Business One
7.9
Production Process Design
Accounting by Wave
SAP Business One
7.7
Supply Chain Business Flows
Accounting by Wave
SAP Business One
7.8
Production Management
Accounting by Wave
SAP Business One
8.1
Contracted Manufacturing Management
Accounting by Wave
SAP Business One
7.7
Configuration Management
Accounting by Wave
SAP Business One
7.4
Work Definition
Accounting by Wave
SAP Business One
7.6
Work Execution
Accounting by Wave
SAP Business One
7.9
Advanced Fulfillment
Accounting by Wave
SAP Business One
7.7
Manufacturing Costs
Accounting by Wave
SAP Business One
8.7

Supply Chain

Accounting by Wave
SAP Business One
8.8
Forecasting
Accounting by Wave
SAP Business One
8.8
Inventory Planning
Accounting by Wave
SAP Business One
9.3
Multi-tier Supply Chain Planning
Accounting by Wave
SAP Business One
9.0
Performance Monitoring
Accounting by Wave
SAP Business One
8.2

Product Lifecycle Management

Accounting by Wave
SAP Business One
8.2
Ideation Management
Accounting by Wave
SAP Business One
8.5
Requirements Management
Accounting by Wave
SAP Business One
8.0
Proposal Management
Accounting by Wave
SAP Business One
7.9
Innovation Portfolio Management
Accounting by Wave
SAP Business One
7.6
Product Master Data Management
Accounting by Wave
SAP Business One
7.9
Vendor Portal
Accounting by Wave
SAP Business One
9.0
Project Portfolio Management
Accounting by Wave
SAP Business One
8.2

Pros

  • Quoting and Invoicing - This feature is huge to be able to manage customers and automate the process of sending invoices as well as reminding outstanding balance holders about their obligations.
  • Payment Processing - Once you get the invoicing down, the ability to process credit card and ACH payments in a single package is great. The fees are competitive and the turn-around time to money in the bank is quick.
  • Bank Integrations - I mean, this ought to be a standard thing these days, but Wave makes it super simple. There is no need to use esoteric APIs or ugly interfaces - everything is in the same Wave wrapper and the functionality is truly seamless.
No photo available
  • Manages items through BOM, tracking serialized components and batch/lot traceability
  • Manages many aspects of the business; manufacturing, inventory, sales, distribution, service, etc
  • Audit trails, detailed logs of all system activity by the user. Sox compliant.
Brandon Knight profile photo

Cons

  • Sales Tax Automation. I don't even know how this would be possible but as an Ontario resident I would love to explore a way I could create parameters based on certain expenses and automatically add the HST.
  • AI for categorizations. Wave does an alright job of taking a guess at the expense categories in the data from our payment accounts. A little more would be a fine addition.
  • Speed. Sometimes I find it can be a little sluggish. Not all the time, but some.
John Galbraith profile photo
  • Improvement in Human Resource module. The employee master data in the Human Resource module can be linked with other modules such as Production in order to directly record time to calculate salary.
  • Improvement on technology infrastructure. The B1 Mobile and Dashboard has been causing a lot of issues at the time it is installed and during use afterwards. A user needs a technology background or help from a consultant to set it up. However after setup, the program tends to error out for any network or technology reason. The same problem happens with inter-company add-ons.
  • Integration with a third party add-on adds more problems from a support point of view, since some issues need knowledge from both sides to troubleshoot, which puts higher requirement on support.
Liping Li 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
SAP Business One8.0
Based on 5 answers
Our institution is a member of the SAP University Alliance. We have chosen to use SAP Business One in our Management Information Systems and Accounting Information Systems classes for seven years, because the students can use the product quickly and come to understand the functionality and integration that an ERP system has to offer.
Robert Markley, Jr. 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
SAP Business One7.0
Based on 1 answer
Being a high profile tool, a user level with specific experience and skills is required to use the program. Which deserves special attention in the junior staff, requires a good management of the administrative part to develop all the benefits of the program. For young and inexperienced people the interface is not flashy. Although it is a very complete program.
Ronald Socorro 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
SAP Business One8.0
Based on 2 answers
We recently upgraded SAP Business One from version 8.8 to version 9.1 and had a few issues initially. We have now resolved those issues, with SAP assistance, and SAP Business One seems very stable!
Robert Markley, Jr. profile photo

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
SAP Business One8.0
Based on 2 answers
It is a tool developed by a parent company with extensive experience in the sector, has specialists in each area, as well as a long career. It guarantees the technical quality based on the practice of years of attention to the user requirements, which makes them very competitive in this aspect.
Ronald Socorro 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
SAP Business One8.0
Based on 1 answer
Over the past two years SAP has added a great deal of new SAP Business One on-line training for version 9.0 and 9.1. Most of the training is very strong, but some is difficult to understand and follow. Additionally, SAP still has a few holes in their on-line training around Production, Bill-of-Materials, MRP and Service.
Robert Markley, Jr. profile photo

Implementation

No score
No answers yet
No answers on this topic
SAP Business One7.0
Based on 1 answer
Conduct interviews with the administrative and accounting areas, ask about the experience with the tool, make free test modules to detect the possibilities of use, as well as, validate the necessary investment for the implementation of the program with the system area, to determine if it is the most viable option
Ronald Socorro 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
SAP B1 does not have the same functionality that SAP ERP has, which would be more beneficial for the type of business we are in, but because we are not large enough, it would not be cost effective. Upgrading to SAP All in One would eventually be a better functional solution for our company in the future because of our size, and the various types of oilfield services we provide.
No photo available

Rating for Public Practice CPAs

Accounting by Wave8.0
Based on 8 answers
It's easy and quick to setup. It's user friendly and doesn't use too much jargon so my clients understand it and use it properly. It allows me to switch between different clients quickly so I can respond to any queries by looking at the same data.
Paul Colman FCA 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
SAP Business One9.1
Based on 1 answer
For most small businesses, the only way you outgrow SAP Business One is if the nature of your business changes radically. Going from 1 to 50 users is quite easy with SAP B1. Going beyond 50 may require moving to the Hana SAP B1 platform to maintain or improve performance, but the path is there.
Add-ons to SAP B1 can also be added as specific needs are encountered that are not closely met by the standard product. These may be required early in the product life because of the nature of your business, or as you expand the use of SAP B1.
Dr. Don Maes profile photo

Return on Investment

  • Wave allows me to work from my home and not have to drive to a client's place of business. It is a time management improver for me.
  • It is easy to use and the client sees the results as soon as I finish the month end.
  • Ideal for startups and small businesses. No cost!
Bruce Collie    CPA, CGA profile photo
  • SAP Business One provides all accounting and tax data accurately, records sales and purchases, and quickly allows for inventory analysis. The ROI on these modules is positive.
  • While Add-on integration causes problems, and involves support from internal staff as well as external consultants constantly, overall it speeds up processing of orders, and improves inventory management.
Liping Li 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

SAP Business One

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