What users are saying about

Accounting by Wave

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Top Rated
102 Ratings

SAP ERP

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Top Rated
240 Ratings

Accounting by Wave

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Top Rated
102 Ratings
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Score 9.1 out of 101

SAP ERP

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Top Rated
240 Ratings
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Score 7.9 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

SAP ERP

Well suitable for large organizations with complex business processes. It provides best practices and built-in processes for a wide range of industries – from manufacturing and distribution to professional services and retail.
No photo available

Feature Rating Comparison

Payroll Management

Accounting by Wave
7.9
SAP ERP
7.5
Pay calculation
Accounting by Wave
8.3
SAP ERP
5.0
Benefit plan administration
Accounting by Wave
7.5
SAP ERP
8.2
Direct deposit files
Accounting by Wave
8.0
SAP ERP
8.3
Salary revision and increment management
Accounting by Wave
7.7
SAP ERP
7.8
Reimbursement management
Accounting by Wave
8.0
SAP ERP
8.1

Customization

Accounting by Wave
9.0
SAP ERP
7.5
API for custom integration
Accounting by Wave
8.9
SAP ERP
7.0
Plug-ins
Accounting by Wave
9.1
SAP ERP
8.0

Security

Accounting by Wave
8.6
SAP ERP
8.7
Single sign-on capability
Accounting by Wave
9.1
SAP ERP
8.6
Role-based user permissions
Accounting by Wave
8.1
SAP ERP
8.8

Reporting & Analytics

Accounting by Wave
8.4
SAP ERP
7.4
Dashboards
Accounting by Wave
8.4
SAP ERP
7.1
Standard reports
Accounting by Wave
8.3
SAP ERP
7.7
Custom reports
Accounting by Wave
8.6
SAP ERP
7.4

General Ledger and Configurable Accounting

Accounting by Wave
8.2
SAP ERP
8.3
Accounts payable
Accounting by Wave
8.6
SAP ERP
8.0
Accounts receivable
Accounting by Wave
9.2
SAP ERP
7.7
Cash management
Accounting by Wave
8.0
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
6.3
SAP ERP
Multi-currency support
Accounting by Wave
8.5
SAP ERP
Multi-division support
Accounting by Wave
7.5
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
9.0
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
8.1
SAP ERP
Enterprise Accounting
Accounting by Wave
8.7
SAP ERP
Configurable Accounting
Accounting by Wave
8.5
SAP ERP
Centralized Rules Framework
Accounting by Wave
9.0
SAP ERP
Standardized Processes
Accounting by Wave
8.0
SAP ERP

Inventory Management

Accounting by Wave
8.9
SAP ERP
7.8
Inventory tracking
Accounting by Wave
9.5
SAP ERP
8.3
Automatic reordering
Accounting by Wave
8.0
SAP ERP
7.6
Location management
Accounting by Wave
9.0
SAP ERP
7.6
Manufacturing module
Accounting by Wave
9.0
SAP ERP
7.7

Order Management

Accounting by Wave
7.9
SAP ERP
7.7
Pricing
Accounting by Wave
8.3
SAP ERP
8.0
Order entry
Accounting by Wave
8.3
SAP ERP
7.6
Credit card processing
Accounting by Wave
9.1
SAP ERP
7.1
Cost of goods sold
Accounting by Wave
8.8
SAP ERP
8.0
Order Orchestration
Accounting by Wave
8.0
SAP ERP
End-to-end order visibility
Accounting by Wave
4.8
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
  • SAP ERP integrates well with third-party systems.
  • SAP ERP software is very reliable, extensive & complete solution for any business process it supports.
  • Great support from SAP on bug fixes, new releases for the standard solution provided.
No photo available

Cons

  • The only disappointment I've had with using Wave so far is how delayed transactions can be with the bank connection. This is likely because of how slow the turnaround can be for check deposits and other transactions to register in the bank (24 hours or more) but it means I need to reference my bank account's website instead of Wave if I have checks arriving on payroll day.
Chris Hecox profile photo
  • High cost of licensing, implementation & maintenance.
  • It gets complex when companies try to implement their existing business processes to Standard SAP provided business processes if it differs.
  • It is not for small/medium size businesses
  • The complete implementation process may take several years. Usually, companies take core modules of SAP ERP & implement those first.
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
There are many modules and SAP Products which can be evaluated against SAP ERP, but SAP ERP is the single product that can be utilized with its resourcing and features to manage and use for your complete business.
Pradeep Bele profile photo

Rating for Public Practice CPAs

Accounting by Wave8.0
Based on 8 answers
I think this is a good product; however it does fall short of its competitors in several areas.
Andrew Wall, CPA, CMA 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

  • 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 allows us to run a multi-national operation with overseas shipping and receiving
  • SAP allows us to consolidate financials across the globe to see a full picture of operational performance
No photo available

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