What users are saying about

Accounting by Wave

Top Rated
97 Ratings

SAP ERP

Top Rated
235 Ratings

Accounting by Wave

Top Rated
97 Ratings
Score 9 out of 101

SAP ERP

Top Rated
235 Ratings
Score 7.8 out of 101

Add comparison

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

SAP ERP

If you are a media company with many big processes that you can't handle anymore and you don't know how to centralize the work, sap ERP would be perfect, you will see how controlled you can have your process, and all your users with have permission to do exactly what they need to do, it is good for security.
No photo available

Feature Rating Comparison

Payroll Management

Accounting by Wave
7.9
SAP ERP
6.8
Pay calculation
Accounting by Wave
8.4
SAP ERP
5.0
Benefit plan administration
Accounting by Wave
7.5
SAP ERP
7.8
Direct deposit files
Accounting by Wave
8.0
SAP ERP
7.1
Salary revision and increment management
Accounting by Wave
7.7
SAP ERP
6.3
Reimbursement management
Accounting by Wave
8.0
SAP ERP
7.7

Customization

Accounting by Wave
9.1
SAP ERP
7.5
API for custom integration
Accounting by Wave
8.9
SAP ERP
7.2
Plug-ins
Accounting by Wave
9.2
SAP ERP
7.9

Security

Accounting by Wave
8.6
SAP ERP
8.4
Single sign-on capability
Accounting by Wave
9.0
SAP ERP
8.2
Role-based user permissions
Accounting by Wave
8.2
SAP ERP
8.5

Reporting & Analytics

Accounting by Wave
8.5
SAP ERP
7.2
Dashboards
Accounting by Wave
8.4
SAP ERP
6.7
Standard reports
Accounting by Wave
8.3
SAP ERP
7.5
Custom reports
Accounting by Wave
8.6
SAP ERP
7.3

General Ledger and Configurable Accounting

Accounting by Wave
8.2
SAP ERP
8.3
Accounts payable
Accounting by Wave
8.4
SAP ERP
7.7
Accounts receivable
Accounting by Wave
9.1
SAP ERP
7.4
Cash management
Accounting by Wave
8.1
SAP ERP
Bank reconciliation
Accounting by Wave
7.8
SAP ERP
Expense management
Accounting by Wave
8.5
SAP ERP
Time tracking
Accounting by Wave
7.3
SAP ERP
Fixed asset management
Accounting by Wave
5.2
SAP ERP
Multi-currency support
Accounting by Wave
8.6
SAP ERP
Multi-division support
Accounting by Wave
7.4
SAP ERP
Regulations compliance
Accounting by Wave
7.3
SAP ERP
Electronic tax filing
Accounting by Wave
6.0
SAP ERP
Self-service portal
Accounting by Wave
9.1
SAP ERP
Global Financial Support
Accounting by Wave
9.0
SAP ERP
Primary and Secondary Ledgers
Accounting by Wave
9.3
SAP ERP
Intercompany Accounting
Accounting by Wave
8.7
SAP ERP
Localizations
Accounting by Wave
9.5
SAP ERP
Journals and Reconciliations
Accounting by Wave
8.4
SAP ERP
Enterprise Accounting
Accounting by Wave
8.7
SAP ERP
Configurable Accounting
Accounting by Wave
8.7
SAP ERP
Centralized Rules Framework
Accounting by Wave
9.0
SAP ERP
Standardized Processes
Accounting by Wave
7.9
SAP ERP

Inventory Management

Accounting by Wave
8.9
SAP ERP
7.7
Inventory tracking
Accounting by Wave
9.5
SAP ERP
8.3
Automatic reordering
Accounting by Wave
8.0
SAP ERP
7.3
Location management
Accounting by Wave
9.0
SAP ERP
7.5
Manufacturing module
Accounting by Wave
9.0
SAP ERP
7.5

Order Management

Accounting by Wave
7.8
SAP ERP
7.3
Pricing
Accounting by Wave
8.1
SAP ERP
7.9
Order entry
Accounting by Wave
8.0
SAP ERP
7.3
Credit card processing
Accounting by Wave
9.1
SAP ERP
6.2
Cost of goods sold
Accounting by Wave
8.8
SAP ERP
7.9
Order Orchestration
Accounting by Wave
8.0
SAP ERP
End-to-end order visibility
Accounting by Wave
4.7
SAP ERP
Order exception Resolution
Accounting by Wave
8.0
SAP ERP

Accounting Firm BPO Features

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

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
  • The key strength is forcing standardisation - many users hate the clunky screens, the workarounds and the SAP attitude of that's how it works. However by making the frontline users do things only one way it is easy to slim down over large processes and therefore costs.
  • Centralising all operational data allows sites to be compared on all KPI's allowing a proper 6 sigma approach to be made again improving process & costs.
  • The high cost of changes to vanilla SAP mean that a proper PMO style project review and justification is essential.
  • The XI module whilst having a few annoyances allows previously disparate Ecomms offerings to be standardised and therefore save costs - design is key.
Andy Barr profile photo

Cons

  • connection to bank sometimes lags - you can refresh the connection but it takes a minute or two to update
  • sometimes invoices are categorized as sales versus consulting income - you really have to look and change it to the appropriate income account. once an invoice is recorded as paid, you can change the income account
  • Wave has a tendency of not accepting a saved password, forcing users to reset a password that is knowingly valid. Using Single Sign On eliminates this but it's still annoying.
Kristy Nittskoff profile photo
  • User interface
  • CRM
  • Reporting and data analysis
No photo available

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 ERP8.6
Based on 4 answers
I am not part of the team that makes this decision but I would recommend renewing the contract. Most employees at Tennant are long term employees and would find it difficult to change to a different software. They are comfortable using SAP.
Linda Keesling, MBA 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 ERP8.0
Based on 1 answer
Once you learn how to use SAP ERP, it becomes a powerful tool for analysis and inventory management.
No photo available

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 ERP10.0
Based on 1 answer
No answer on this topic is available.

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 ERP3.0
Based on 1 answer
No answer on this topic is available.

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

Wave is better in being my one place to go for collecting payments. PayPal is nice if you're on the road collecting payments through their app and using PayPal Here, but if you would like to keep invoicing in the same place as your bookkeeping, I think Wave is a better-integrated solution.
Carl Grivakis profile photo
Industry reputation; History and relationship with SAP implementation team
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
No score
No answers yet
No answers on this topic

Return on Investment

  • Adding Wave to our roster of supported products has introduced us to a new group of business owners that are motivated to manage and grow their businesses.
  • Wave has improved employee engagement as my staff feel more involved in helping our customers achieve their goals. Their work is more meaningful now and less data entry driven.
Jennifer Bauldic profile photo
  • implementation costs generally overrun the budget (and time)
  • it provides a good standard across the globe - easy knowledge transfer
  • solid internal audit and control features generate an environment that prevent fraud
Gustavo Porporato Daher 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 ERP

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