What users are saying about

Accounting by Wave

Top Rated
99 Ratings

TaxJar

4 Ratings

Accounting by Wave

Top Rated
99 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

TaxJar

4 Ratings
<a href='https://www.trustradius.com/static/about-trustradius-scoring' target='_blank' rel='nofollow'>trScore algorithm: Learn more.</a>
Score 9.5 out of 101

Add comparison

Likelihood to Recommend

Accounting by Wave

Wave is great at small business accounting where fairly simple quotes and invoices can be set up and payments can be received online or as mailed checks. Other or more complicated situations are not well suited to the platform. Any business that takes in Bitcoin or other alternative currencies will struggle to link the account types together
No photo available

TaxJar

TaxJar works great for API eCommerce tax calculations both at checkout and for estimating. It also works great integrated with an ERP to ensure that the right tax is being charged based on a geolocated address match. As long as a robust integration has already been built for your software this option is excellent. If you have to build it yourself the time/value will not be quite as clear.
Jeff McRitchie profile photo

Feature Rating Comparison

Payroll Management

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

Customization

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

Security

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

Reporting & Analytics

Accounting by Wave
8.5
TaxJar
Dashboards
Accounting by Wave
8.5
TaxJar
Standard reports
Accounting by Wave
8.3
TaxJar
Custom reports
Accounting by Wave
8.6
TaxJar

General Ledger and Configurable Accounting

Accounting by Wave
8.3
TaxJar
Accounts payable
Accounting by Wave
8.5
TaxJar
Accounts receivable
Accounting by Wave
9.2
TaxJar
Cash management
Accounting by Wave
8.2
TaxJar
Bank reconciliation
Accounting by Wave
7.8
TaxJar
Expense management
Accounting by Wave
8.6
TaxJar
Time tracking
Accounting by Wave
7.3
TaxJar
Fixed asset management
Accounting by Wave
6.2
TaxJar
Multi-currency support
Accounting by Wave
8.5
TaxJar
Multi-division support
Accounting by Wave
7.5
TaxJar
Regulations compliance
Accounting by Wave
7.3
TaxJar
Electronic tax filing
Accounting by Wave
6.0
TaxJar
Self-service portal
Accounting by Wave
9.1
TaxJar
Global Financial Support
Accounting by Wave
9.0
TaxJar
Primary and Secondary Ledgers
Accounting by Wave
9.3
TaxJar
Intercompany Accounting
Accounting by Wave
8.7
TaxJar
Localizations
Accounting by Wave
9.5
TaxJar
Journals and Reconciliations
Accounting by Wave
8.4
TaxJar
Enterprise Accounting
Accounting by Wave
8.7
TaxJar
Configurable Accounting
Accounting by Wave
8.5
TaxJar
Centralized Rules Framework
Accounting by Wave
9.0
TaxJar
Standardized Processes
Accounting by Wave
7.9
TaxJar

Inventory Management

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

Order Management

Accounting by Wave
7.9
TaxJar
Pricing
Accounting by Wave
8.3
TaxJar
Order entry
Accounting by Wave
8.3
TaxJar
Credit card processing
Accounting by Wave
9.1
TaxJar
Cost of goods sold
Accounting by Wave
8.9
TaxJar
Order Orchestration
Accounting by Wave
8.0
TaxJar
End-to-end order visibility
Accounting by Wave
4.7
TaxJar
Order exception Resolution
Accounting by Wave
8.0
TaxJar

Accounting Firm BPO Features

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

Pros

  • The ease of use with Wave makes it a great tool. Someone without much accounting experience can jump in and use the software.
  • The reports features in Wave make looking at financial statements a breeze. In addition you can quickly drill down into expense categories to see all transactions of a certain type.
  • It is very easy to generate a sales invoice and see the average period for our company to get paid.
  • I love the Wave Invoice app where we can track invoices on the go and verify payment history.
Lukas Sundahl, MBA profile photo
  • This was the easiest plug-in that our IT has integrated with our Magento Website. I love that it can collect and auto-file in every state. Customer support always answers our questions quickly and accurately. The interface is user-friendly.
  • TaxJar is a fully featured taxation product for our e-commerce business. I'm amazed that something so fully featured is available at such a low price. It integrates with our e-commerce plugin WooCommerce.
  • Best support to handle sales taxes with omni channel business. Our omni channel sale tax collection is on autopilot. It integrates flawlessly with amazon and Shopify and we haven't had any issue at all. TaxJar just does the job.
No photo available

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
  • The updates this year have solved any lacking areas we saw when we first started using Tax Jar. There are a couple of times Tax Jar has charged tax when it should have not, but the percent this has happened is less than 0.001% and the number of transactions we have seen this on has decreased each month.
  • The service at the low price point is very poor. It feels like they do this intentionally to get you to upgrade.
  • It is difficult to navigate when you don't know much about taxes. Specifically when I try to autofile and don't owe any taxes, I have to create mock files. This is almost impossible to figure out on the platform without customer support being involved to explain.
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
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

Each one of these cloud-based or desktop accounting services offer different pros and cons. It really comes down to the individual owner's wants and needs. While Wave is not going to be my first choice for a large, complex organization, it really shines when handling a one person shop who wants to keep track of their home and business finances in one place without all the complexity of traditional bookkeeping software. It's far less expensive than its competitors and has made constant strides to improve itself since day one. It also has a very friendly support staff who have a very fast response time.
Eric Matthews profile photo
TaxJar is less expensive, simpler to integrate and their billing is straightforward so that you don't have to worry about huge surprises at the end of a month or quarter. They spend a lot less time on sales/marketing but their support is excellent and overall we have had a much better experience with TaxJar.
Jeff McRitchie 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

  • 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
  • First of all, it is super easy to enroll and use. It automatically transfers the sales tax information from my amazon.com seller central and put them on my account of TaxJar. It is easy to understand and they not only display my state's sales tax but other states too.
  • Second, it offers a lot of sales tax related articles and videos that you could read or watch and learn from. I like the video that tells me how to file and remit taxes and it is so easy. It saves tens of hours. I can't imagine filing it without TaxJar and what a headache it might be.
  • Third, the software and its site is beautifully designed and very user-friendly. They are good at it and I see this company will be more successful in future as we are having a new sales tax wave.
No photo available

Pricing Details

Accounting by Wave

General
Free Trial
Free/Freemium Version
Premium Consulting/Integration Services
Entry-level set up fee?
No
Accounting by Wave Editions & Modules
Accounting by Wave
Additional Pricing Details

TaxJar

General
Free Trial
Yes
Free/Freemium Version
Premium Consulting/Integration Services
Entry-level set up fee?
Optional
$0
TaxJar Editions & Modules
TaxJar
Edition
Basic
$191
Plus
$492
Premier
$993
Enterprise I
$1994
Enterprise II
$4995
Enterprise III
$9996
1. Up to 1,000 transactions / month
2. Up to 5,000 transactions / month
3. Up to 10,000 transactions / month
4. Up to 50,000 transactions / month
5. Up to 200,000 transactions / month
6. Up to 500,000 transactions / month
Additional Pricing Details
30 day free trial. No obligation, no activation fees. Upgrade, downgrade or cancel anytime. Transactions are equal to -Orders imported into TaxJar with one or more line items -SmartCalcs API pushed sales tax calculation If you go over your transaction limit during a single month, we will charge you the difference between the plan you’re on and the next highest plan. The next month you’ll start back on the original plan that you subscribed to, and the process will repeat itself again. This is all done automatically. Your plan will never be interrupted and you will not have to speak with a salesperson.