What users are saying about

Accounting by Wave

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Top Rated
102 Ratings
13 Ratings

Accounting by Wave

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Top Rated
102 Ratings
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Score 9.1 out of 101
13 Ratings
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Score 9.1 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

Synoptix

By supporting our business office and utilizing Synoptix we have been able to reduce our Y/E closing procedures greatly and improve on our campus communication of account activities.
Logan Morris profile photo

Feature Rating Comparison

Payroll Management

Accounting by Wave
7.9
Synoptix
Pay calculation
Accounting by Wave
8.3
Synoptix
Benefit plan administration
Accounting by Wave
7.5
Synoptix
Direct deposit files
Accounting by Wave
8.0
Synoptix
Salary revision and increment management
Accounting by Wave
7.7
Synoptix
Reimbursement management
Accounting by Wave
8.0
Synoptix

Customization

Accounting by Wave
9.0
Synoptix
API for custom integration
Accounting by Wave
8.9
Synoptix
Plug-ins
Accounting by Wave
9.1
Synoptix

Security

Accounting by Wave
8.6
Synoptix
9.1
Single sign-on capability
Accounting by Wave
9.1
Synoptix
9.0
Role-based user permissions
Accounting by Wave
8.1
Synoptix
9.2

Reporting & Analytics

Accounting by Wave
8.4
Synoptix
9.2
Dashboards
Accounting by Wave
8.4
Synoptix
8.7
Standard reports
Accounting by Wave
8.3
Synoptix
9.5
Custom reports
Accounting by Wave
8.6
Synoptix
9.5

General Ledger and Configurable Accounting

Accounting by Wave
8.2
Synoptix
9.0
Accounts payable
Accounting by Wave
8.6
Synoptix
9.4
Accounts receivable
Accounting by Wave
9.2
Synoptix
9.4
Cash management
Accounting by Wave
8.0
Synoptix
9.2
Bank reconciliation
Accounting by Wave
7.8
Synoptix
Expense management
Accounting by Wave
8.5
Synoptix
9.6
Time tracking
Accounting by Wave
7.3
Synoptix
6.4
Fixed asset management
Accounting by Wave
6.3
Synoptix
9.4
Multi-currency support
Accounting by Wave
8.5
Synoptix
9.1
Multi-division support
Accounting by Wave
7.5
Synoptix
8.9
Regulations compliance
Accounting by Wave
7.3
Synoptix
9.5
Electronic tax filing
Accounting by Wave
6.0
Synoptix
Self-service portal
Accounting by Wave
9.0
Synoptix
9.7
Global Financial Support
Accounting by Wave
9.0
Synoptix
Primary and Secondary Ledgers
Accounting by Wave
9.3
Synoptix
Intercompany Accounting
Accounting by Wave
8.7
Synoptix
Localizations
Accounting by Wave
9.5
Synoptix
Journals and Reconciliations
Accounting by Wave
8.1
Synoptix
Enterprise Accounting
Accounting by Wave
8.7
Synoptix
Configurable Accounting
Accounting by Wave
8.5
Synoptix
Centralized Rules Framework
Accounting by Wave
9.0
Synoptix
Standardized Processes
Accounting by Wave
8.0
Synoptix

Inventory Management

Accounting by Wave
8.9
Synoptix
9.1
Inventory tracking
Accounting by Wave
9.5
Synoptix
9.1
Automatic reordering
Accounting by Wave
8.0
Synoptix
Location management
Accounting by Wave
9.0
Synoptix
9.1
Manufacturing module
Accounting by Wave
9.0
Synoptix

Order Management

Accounting by Wave
7.9
Synoptix
8.9
Pricing
Accounting by Wave
8.3
Synoptix
Order entry
Accounting by Wave
8.3
Synoptix
Credit card processing
Accounting by Wave
9.1
Synoptix
Cost of goods sold
Accounting by Wave
8.8
Synoptix
8.9
Order Orchestration
Accounting by Wave
8.0
Synoptix
End-to-end order visibility
Accounting by Wave
4.8
Synoptix
Order exception Resolution
Accounting by Wave
8.0
Synoptix

Accounting Firm BPO Features

Accounting by Wave
8.0
Synoptix
8.7
Branded client dashboards
Accounting by Wave
8.0
Synoptix
9.1
Client data roll-up capabilities
Accounting by Wave
8.0
Synoptix
6.7
Client data consolidation for benchmarking
Accounting by Wave
7.5
Synoptix
Configurable alerts
Accounting by Wave
8.0
Synoptix
9.1
Billing bypass
Accounting by Wave
8.0
Synoptix
Client template cloning
Accounting by Wave
8.0
Synoptix
9.1
Single sign-on
Accounting by Wave
9.0
Synoptix
9.1
Configurable client onboarding questions
Accounting by Wave
8.0
Synoptix
Cross-client workflow management
Accounting by Wave
8.0
Synoptix
Industry-specific versioning
Accounting by Wave
8.0
Synoptix
Legacy system data migration
Accounting by Wave
8.0
Synoptix
9.1

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
  • User friendly software.
  • Professional, on-site training.
  • Excellent customer support.
Logan Griffith profile photo

Cons

  • One area of improvement for Wave would be combining the various mobile applications into one app.
  • Another room for improvement would be on the dashboard level. It would be great if they could use more bar graphs and get away from pie charts for things like expenses.
  • Some of the other areas from improvement have been addressed by recent updates so I am excited to see what else Wave brings out.
Lukas Sundahl, MBA profile photo
  • Sample fonts in all areas that can be chosen.
  • More error based explanations.
  • Save and Transfer feature (all-in-one).
Logan Griffith 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
No score
No answers yet
No answers on this topic

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
No score
No answers yet
No answers on this topic

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
No score
No answers yet
No answers on this topic

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

Across the board Wave takes the cake on price at $0/mo aside from payroll fees and credit card processing. That aside I'd say most accounting systems are fairly similar, however what I like about Wave is just how simple the interface is and the outstanding customer support from both the community and the company.
Matthew Gehrman profile photo
Prior to Synoptix we were using the reporting tool that comes with our ERP system. It lacked the drilldown and comparability functions that make Synoptix the top pick. Further, designing reports and maintaining reports was very labor intensive
Traci Hemmerlin  CPA 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
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

  • Being as it's free software to use I'd say implementing wave has been a positive return for the business.
  • Providing us the ability to process credit cards over the phone has increased our turn time to receive payments thus saving time overall which equates to $1,000's a year
Matthew Gehrman profile photo
  • I don't think that there is a true ROI on this product. This is a product that provides a convenience to financial end users.
Pete Mandell profile photo

Screenshots

Accounting by Wave

Pricing Details

Accounting by Wave

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

Synoptix

General
Free Trial
Free/Freemium Version
Premium Consulting/Integration Services
Yes
Entry-level set up fee?
Optional
Additional Pricing Details