What users are saying about
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Top Rated
105 Ratings

Accounting by Wave

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Top Rated
105 Ratings
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Score 9.1 out of 101
2 Ratings
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Score 8.7 out of 101

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

Unit4 Financials

This would work well for the back side of accounting...meaning after the invoice was created. If you need software to create invoices, this may not be the software for you (or at least you would have to do additional research on its capability). Other than that, it takes care of the majority of our needs.
No photo available

Feature Rating Comparison

Payroll Management

Accounting by Wave
7.9
Unit4 Financials
Pay calculation
Accounting by Wave
8.2
Unit4 Financials
Benefit plan administration
Accounting by Wave
7.5
Unit4 Financials
Direct deposit files
Accounting by Wave
8.0
Unit4 Financials
Salary revision and increment management
Accounting by Wave
7.7
Unit4 Financials
Reimbursement management
Accounting by Wave
8.0
Unit4 Financials

Customization

Accounting by Wave
8.8
Unit4 Financials
API for custom integration
Accounting by Wave
8.7
Unit4 Financials
Plug-ins
Accounting by Wave
8.8
Unit4 Financials

Security

Accounting by Wave
8.5
Unit4 Financials
9.0
Single sign-on capability
Accounting by Wave
9.1
Unit4 Financials
9.0
Role-based user permissions
Accounting by Wave
7.9
Unit4 Financials
9.0

Reporting & Analytics

Accounting by Wave
8.5
Unit4 Financials
5.3
Dashboards
Accounting by Wave
8.5
Unit4 Financials
1.0
Standard reports
Accounting by Wave
8.3
Unit4 Financials
7.0
Custom reports
Accounting by Wave
8.6
Unit4 Financials
8.0

General Ledger and Configurable Accounting

Accounting by Wave
8.3
Unit4 Financials
8.1
Accounts payable
Accounting by Wave
8.6
Unit4 Financials
9.0
Accounts receivable
Accounting by Wave
9.2
Unit4 Financials
9.0
Cash management
Accounting by Wave
8.1
Unit4 Financials
8.0
Bank reconciliation
Accounting by Wave
7.9
Unit4 Financials
Expense management
Accounting by Wave
8.6
Unit4 Financials
8.0
Time tracking
Accounting by Wave
7.5
Unit4 Financials
Fixed asset management
Accounting by Wave
6.8
Unit4 Financials
Multi-currency support
Accounting by Wave
8.3
Unit4 Financials
Multi-division support
Accounting by Wave
7.4
Unit4 Financials
8.0
Regulations compliance
Accounting by Wave
7.3
Unit4 Financials
Electronic tax filing
Accounting by Wave
6.0
Unit4 Financials
Self-service portal
Accounting by Wave
8.9
Unit4 Financials
Global Financial Support
Accounting by Wave
9.0
Unit4 Financials
Primary and Secondary Ledgers
Accounting by Wave
9.3
Unit4 Financials
Intercompany Accounting
Accounting by Wave
8.6
Unit4 Financials
7.0
Localizations
Accounting by Wave
9.5
Unit4 Financials
Journals and Reconciliations
Accounting by Wave
8.2
Unit4 Financials
8.0
Enterprise Accounting
Accounting by Wave
8.7
Unit4 Financials
Configurable Accounting
Accounting by Wave
8.7
Unit4 Financials
Centralized Rules Framework
Accounting by Wave
9.0
Unit4 Financials
Standardized Processes
Accounting by Wave
8.1
Unit4 Financials
8.0

Inventory Management

Accounting by Wave
8.9
Unit4 Financials
8.0
Inventory tracking
Accounting by Wave
9.5
Unit4 Financials
8.0
Automatic reordering
Accounting by Wave
8.0
Unit4 Financials
Location management
Accounting by Wave
9.0
Unit4 Financials
Manufacturing module
Accounting by Wave
9.0
Unit4 Financials

Order Management

Accounting by Wave
8.0
Unit4 Financials
Pricing
Accounting by Wave
8.3
Unit4 Financials
Order entry
Accounting by Wave
8.4
Unit4 Financials
Credit card processing
Accounting by Wave
9.1
Unit4 Financials
Cost of goods sold
Accounting by Wave
8.8
Unit4 Financials
Order Orchestration
Accounting by Wave
8.0
Unit4 Financials
End-to-end order visibility
Accounting by Wave
5.5
Unit4 Financials
Order exception Resolution
Accounting by Wave
8.0
Unit4 Financials

Accounting Firm BPO Features

Accounting by Wave
8.0
Unit4 Financials
Branded client dashboards
Accounting by Wave
8.0
Unit4 Financials
Client data roll-up capabilities
Accounting by Wave
8.0
Unit4 Financials
Client data consolidation for benchmarking
Accounting by Wave
7.5
Unit4 Financials
Configurable alerts
Accounting by Wave
8.0
Unit4 Financials
Billing bypass
Accounting by Wave
8.0
Unit4 Financials
Client template cloning
Accounting by Wave
8.0
Unit4 Financials
Single sign-on
Accounting by Wave
9.0
Unit4 Financials
Configurable client onboarding questions
Accounting by Wave
8.0
Unit4 Financials
Cross-client workflow management
Accounting by Wave
8.0
Unit4 Financials
Industry-specific versioning
Accounting by Wave
8.0
Unit4 Financials
Legacy system data migration
Accounting by Wave
8.0
Unit4 Financials

Pros

Accounting by Wave

  • 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

Unit4 Financials

  • It is easy to move around in if set up properly.
  • You can changes background colors to your choice.
  • It is customizable (you can create home pages specific to the user).
No photo available

Cons

Accounting by Wave

  • The mobile experience leaves a lot to be desired. While I can use the receipt app to capture expenses, we live in a mobile digital world where I need to be able to create quotes and invoices on the spot and not back at my desk.
  • There are a few accounting and account related tools that could use some sharpening. For example, there isn't a good way to merge transactions - so when I snap a picture of a receipt and add it there is trouble reconciling against the bank. This shows up as two discrete transactions that cannot be merged - so one has to be manually deleted. It kind of defeats the purpose of scanning the receipts in entirely.
  • We've struggled with integrating debt accounts. For example, a shareholder may pay for something to get us by one day - how to we capture that as a debt owed? There isn't a way. The "shareholder debt" account doesn't talk to the rest of the system.
No photo available

Unit4 Financials

  • There is a lot of "building" when first starting up with the software.
  • Some of the data you cannot pull unless you have sequel knowledge, although capabilities are getting better.
  • There is not a good operating statement report option.
No photo available

Likelihood to Renew

Accounting by Wave

Accounting by Wave 7.8
Based on 3 answers
Easy to use for clients with no accounting background and the price is right.
Jeanne Harris profile photo

Unit4 Financials

No score
No answers yet
No answers on this topic

Usability

Accounting by Wave

Accounting by Wave 5.3
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

Unit4 Financials

No score
No answers yet
No answers on this topic

Reliability and Availability

Accounting by Wave

Accounting by Wave 6.7
Based on 4 answers
WAVE is always available when we need it ! Peter
Peter Cullen profile photo

Unit4 Financials

No score
No answers yet
No answers on this topic

Performance

Accounting by Wave

Accounting by Wave 2.9
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

Unit4 Financials

No score
No answers yet
No answers on this topic

Support

Accounting by Wave

Accounting by Wave 9.0
Based on 1 answer
If they had live chat service then I'd rate this a 10.
Matthew Gehrman profile photo

Unit4 Financials

No score
No answers yet
No answers on this topic

Online Training

Accounting by Wave

Accounting by Wave 4.7
Based on 3 answers
easy to use and east to train on ! Our WAVE clients enjoy the ease of use
Peter Cullen profile photo

Unit4 Financials

No score
No answers yet
No answers on this topic

Alternatives Considered

Accounting by Wave

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

Unit4 Financials

Unit4 Financials is definitely much more robust than Peachtree or other software. I've also used SAP in the past and this seems to have many more capabilities.
No photo available

Scalability

Accounting by Wave

Accounting by Wave 3.0
Based on 2 answers
Once they out grow what is ability to move up to a more robust system?
Penny Breslin profile photo

Unit4 Financials

No score
No answers yet
No answers on this topic

Return on Investment

Accounting by Wave

  • Wave has been ROI positive for our company. With not having to pay for the service we can use our money for growing our business.
  • The fees on credit card transactions for invoices are reasonable especially as we don't pay a monthly subscription.
  • The invoicing feature has made our lives easier for us and our customers. The invoicing piece and AR tracking has been ROI positive as well.
Lukas Sundahl, MBA profile photo

Unit4 Financials

  • Because of the lack of operating statement reports, we've had to spend additional funds to use another system.
  • It does show data in real time, so no waiting for batches to update overnight.
  • You can do a lot of customizing to meet your own needs.
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

Unit4 Financials

General

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

Add comparison