What users are saying about

Accounting by Wave

<a href='https://www.trustradius.com/static/about-trustradius-scoring#question3' target='_blank' rel='nofollow'>Customer Verified: Read more.</a>
Top Rated
102 Ratings
Top Rated
35 Ratings

Accounting by Wave

<a href='https://www.trustradius.com/static/about-trustradius-scoring#question3' target='_blank' rel='nofollow'>Customer Verified: Read more.</a>
Top Rated
102 Ratings
<a href='https://www.trustradius.com/static/about-trustradius-scoring' target='_blank' rel='nofollow'>trScore algorithm: Learn more.</a>
Score 9.1 out of 101
Top Rated
35 Ratings
<a href='https://www.trustradius.com/static/about-trustradius-scoring' target='_blank' rel='nofollow'>trScore algorithm: Learn more.</a>
Score 8.4 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

CCH Tagetik

CCH Tagetik is great for pulling together financial data for the purposes of budgeting, planning, and forecasting. I think it will likely have other uses in our organization as well as we become more familiar with it and adept at using it.
No photo available

Feature Rating Comparison

Payroll Management

Accounting by Wave
7.9
CCH Tagetik
Pay calculation
Accounting by Wave
8.3
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
9.0
CCH Tagetik
API for custom integration
Accounting by Wave
8.9
CCH Tagetik
Plug-ins
Accounting by Wave
9.1
CCH Tagetik

Security

Accounting by Wave
8.6
CCH Tagetik
Single sign-on capability
Accounting by Wave
9.1
CCH Tagetik
Role-based user permissions
Accounting by Wave
8.1
CCH Tagetik

Reporting & Analytics

Accounting by Wave
8.4
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
8.6
CCH Tagetik
Accounts receivable
Accounting by Wave
9.2
CCH Tagetik
Cash management
Accounting by Wave
8.0
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
6.3
CCH Tagetik
Multi-currency support
Accounting by Wave
8.5
CCH Tagetik
Multi-division support
Accounting by Wave
7.5
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
9.0
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
8.1
CCH Tagetik
Enterprise Accounting
Accounting by Wave
8.7
CCH Tagetik
Configurable Accounting
Accounting by Wave
8.5
CCH Tagetik
Centralized Rules Framework
Accounting by Wave
9.0
CCH Tagetik
Standardized Processes
Accounting by Wave
8.0
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
7.9
CCH Tagetik
Pricing
Accounting by Wave
8.3
CCH Tagetik
Order entry
Accounting by Wave
8.3
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
4.8
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
8.5
Long-term financial planning
Accounting by Wave
CCH Tagetik
8.7
Financial budgeting
Accounting by Wave
CCH Tagetik
8.8
Forecasting
Accounting by Wave
CCH Tagetik
7.6
Scenario modeling
Accounting by Wave
CCH Tagetik
8.8
Management reporting
Accounting by Wave
CCH Tagetik
8.3

Consolidation and Close

Accounting by Wave
CCH Tagetik
7.6
Financial data consolidation
Accounting by Wave
CCH Tagetik
7.5
Journal entries and reports
Accounting by Wave
CCH Tagetik
7.4
Multi-currency management
Accounting by Wave
CCH Tagetik
8.7
Intercompany Eliminations
Accounting by Wave
CCH Tagetik
8.0
Minority Ownership
Accounting by Wave
CCH Tagetik
6.9
Local and consolidated reporting
Accounting by Wave
CCH Tagetik
7.3
Detailed Audit Trails
Accounting by Wave
CCH Tagetik
7.6

FInancial Reporting and Compliance

Accounting by Wave
CCH Tagetik
8.3
Financial Statement Reporting
Accounting by Wave
CCH Tagetik
8.3
Management Reporting
Accounting by Wave
CCH Tagetik
8.4
Excel-based Reporting
Accounting by Wave
CCH Tagetik
9.1
Automated board and financial reporting
Accounting by Wave
CCH Tagetik
8.3
XBRL support for regulatory filing
Accounting by Wave
CCH Tagetik
7.2

Analytics

Accounting by Wave
CCH Tagetik
8.1
Personalized dashboards
Accounting by Wave
CCH Tagetik
8.0
Color-coded scorecards
Accounting by Wave
CCH Tagetik
7.7
KPIs
Accounting by Wave
CCH Tagetik
8.2
Cost and profitability analysis
Accounting by Wave
CCH Tagetik
9.0
Key Performance Indicator setting
Accounting by Wave
CCH Tagetik
8.2
Benchmarking with external data
Accounting by Wave
CCH Tagetik
7.3

Integration

Accounting by Wave
CCH Tagetik
8.6
Flat file integration
Accounting by Wave
CCH Tagetik
9.6
Excel data integration
Accounting by Wave
CCH Tagetik
9.6
Direct links to 3rd-party data sources
Accounting by Wave
CCH Tagetik
6.6

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
  • It does a good job of assisting with the mapping of accounts to entities. Unlike other programs that require you to add an account for all entities, Tagetik knows to map new accounts to all entities.
  • The interface is very user friendly and intuitive. Once you have a basic understanding of how it functions, it is very easy to navigate.
  • Any time there has been issues with the tool, the Tagetik team has been very quick to assist in solving the issue. They really provide a great deal of support.
Daniel Rizzo profile photo

Cons

  • Not too much to complain about with Wave although I do wish they kept an audit trail of all invoice reminders sent, changes in the invoice, and have the ability to pull reports with this data. This functionality would be great to review clients as a whole to determine profitability and time spent with these clients.
  • 9% processing fees for all cards which is a bit higher than some of the competitors like Blue Pay. The pro to this though is there's no monthly commitment or monthly service fees.
Matthew Gehrman profile photo
  • Error messages can be difficult to understand - particulalry when written in Italian!
Steve Harris FCMA CGMA 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
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 Tagetik7.4
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

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
Tagetik uses a Excel interface which makes it familiar but adds the benefits of a central database. At the time we were evaluating, we were also looking for a cost accounting system. We were not able to find one package that provided budgeting, forecasting, reporting and cost accounting at anywhere near the price.
John Torley profile photo

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

  • 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
  • Faster closure
  • Better reporting and faster
  • New possibilities for forecasting
Bjørn Born Sylvest 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

CCH Tagetik

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