What users are saying about

Accounting by Wave

Top Rated
97 Ratings

CCH Tagetik

Top Rated
34 Ratings

Accounting by Wave

Top Rated
97 Ratings
Score 9 out of 101

CCH Tagetik

Top Rated
34 Ratings
Score 8 out of 101

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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

CCH Tagetik

It's well suited to implement a solution that does not require a calculation engine and stochastic approach. For example to manage closing for an accounting department and to manage the repository for IFRS requirements. It's very powerful for CFO needs. Tagetik is also well suited to provide collaborative disclosure management applications.Today it's not appropriate to provide solutions in the risk management area.
Cesare Schiarea profile photo

Feature Rating Comparison

Payroll Management

Accounting by Wave
7.9
CCH Tagetik
Pay calculation
Accounting by Wave
8.4
CCH Tagetik
Benefit plan administration
Accounting by Wave
7.5
CCH Tagetik
Direct deposit files
Accounting by Wave
8.0
CCH Tagetik
Salary revision and increment management
Accounting by Wave
7.7
CCH Tagetik
Reimbursement management
Accounting by Wave
8.0
CCH Tagetik

Customization

Accounting by Wave
9.1
CCH Tagetik
API for custom integration
Accounting by Wave
8.9
CCH Tagetik
Plug-ins
Accounting by Wave
9.2
CCH Tagetik

Security

Accounting by Wave
8.6
CCH Tagetik
Single sign-on capability
Accounting by Wave
9.0
CCH Tagetik
Role-based user permissions
Accounting by Wave
8.2
CCH Tagetik

Reporting & Analytics

Accounting by Wave
8.5
CCH Tagetik
Dashboards
Accounting by Wave
8.4
CCH Tagetik
Standard reports
Accounting by Wave
8.3
CCH Tagetik
Custom reports
Accounting by Wave
8.6
CCH Tagetik

General Ledger and Configurable Accounting

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

Inventory Management

Accounting by Wave
8.9
CCH Tagetik
Inventory tracking
Accounting by Wave
9.5
CCH Tagetik
Automatic reordering
Accounting by Wave
8.0
CCH Tagetik
Location management
Accounting by Wave
9.0
CCH Tagetik
Manufacturing module
Accounting by Wave
9.0
CCH Tagetik

Order Management

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

Accounting Firm BPO Features

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

Budgeting, Planning, and Forecasting

Accounting by Wave
CCH Tagetik
7.4
Long-term financial planning
Accounting by Wave
CCH Tagetik
7.6
Financial budgeting
Accounting by Wave
CCH Tagetik
7.7
Forecasting
Accounting by Wave
CCH Tagetik
7.0
Scenario modeling
Accounting by Wave
CCH Tagetik
7.5
Management reporting
Accounting by Wave
CCH Tagetik
7.4

Consolidation and Close

Accounting by Wave
CCH Tagetik
7.6
Financial data consolidation
Accounting by Wave
CCH Tagetik
7.6
Journal entries and reports
Accounting by Wave
CCH Tagetik
7.5
Multi-currency management
Accounting by Wave
CCH Tagetik
7.9
Intercompany Eliminations
Accounting by Wave
CCH Tagetik
8.0
Minority Ownership
Accounting by Wave
CCH Tagetik
7.1
Local and consolidated reporting
Accounting by Wave
CCH Tagetik
7.4
Detailed Audit Trails
Accounting by Wave
CCH Tagetik
7.6

FInancial Reporting and Compliance

Accounting by Wave
CCH Tagetik
7.4
Financial Statement Reporting
Accounting by Wave
CCH Tagetik
7.0
Management Reporting
Accounting by Wave
CCH Tagetik
7.3
Excel-based Reporting
Accounting by Wave
CCH Tagetik
8.6
Automated board and financial reporting
Accounting by Wave
CCH Tagetik
7.0
XBRL support for regulatory filing
Accounting by Wave
CCH Tagetik
7.2

Analytics

Accounting by Wave
CCH Tagetik
7.1
Personalized dashboards
Accounting by Wave
CCH Tagetik
6.6
Color-coded scorecards
Accounting by Wave
CCH Tagetik
6.6
KPIs
Accounting by Wave
CCH Tagetik
7.2
Cost and profitability analysis
Accounting by Wave
CCH Tagetik
7.7
Key Performance Indicator setting
Accounting by Wave
CCH Tagetik
7.0
Benchmarking with external data
Accounting by Wave
CCH Tagetik
7.4

Integration

Accounting by Wave
CCH Tagetik
8.4
Flat file integration
Accounting by Wave
CCH Tagetik
9.3
Excel data integration
Accounting by Wave
CCH Tagetik
9.3
Direct links to 3rd-party data sources
Accounting by Wave
CCH Tagetik
6.7

Pros

  • Crisp, clean invoices, and I particularly like the ability to customize the invoice to fit our needs.
  • Custom reporting tools so we can slice & dice our data as needed.
  • Overall interface is incredibly easy to navigate through and you don't have to be a professional accountant or book keeper to make sense of everything.
  • Offering a recurring payment option, credit card processing, and ACH payment options with customer online payment options as well has made our life much easier with the repeat accounts we manage.
  • Adding customers profiles is simple and can be done right in the new invoice tool
  • Setting up vendors is quick and easy to associate to various payable/receivable accounts is simple.
Matthew Gehrman profile photo
  • Reporting
  • Planning/Forecasting
  • Consolidation
Brooke Ward profile photo

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
  • Has to be updated regularly to ensure performance standards
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
CCH Tagetik6.5
Based on 6 answers
Tagetik is a great tool for documentation. It is a lot more effective and efficient than to just type documents in Word
Alec Alvino 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
CCH Tagetik6.8
Based on 3 answers
Tagetik has a complex engine which could be easily managed by a web-based interface and an Excel .net macro which allows a quick learning of the application's main functions. Even everyday system maintenance is very easy to manage too, once you understand the underlying consolidation model. In wider terms, once you made the first configuration and you feed the data model, many annoying routines could be easily automated, with a great gain in terms of time spent on application maintenance.
Alessandro MANTINI 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
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
CCH Tagetik7.5
Based on 4 answers
Have never had a reason to give a negative rating
Susan Heffern 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
No score
No answers yet
No answers on this topic

Implementation

No score
No answers yet
No answers on this topic
CCH Tagetik6.4
Based on 2 answers
Get a project manager and have someone on the team who knows your databases and systems inside and out.
Susan Heffern profile photo

Alternatives Considered

I was never able to figure out Gnu cash so I had to mostly use excel, until I found Wave
Torrey Holman profile photo
The price of the product was a huge improvement from our previous tool
Brooke Ward profile photo

Rating for Public Practice CPAs

Accounting by Wave8.0
Based on 8 answers
Wave is very easy for the small business owner to use but it has enough features to keep accountants happy.
Elaine Orr Morgan 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

  • Automatic bank transaction downloads really speeds up income and expense capture, as well as bank reconciliations.
  • Having a low cost (or in this case free) product encourages clients to use all of the features available without fear of being overcharged
  • The ability for the client to see their data online in real time whenever they want really makes the bookkeeping process much more efficient and transparent.
Eric Matthews profile photo
  • Cut closing time
  • Easy to manage and use daily
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

CCH Tagetik

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