What users are saying about
<a href='https://www.trustradius.com/static/about-trustradius-scoring#question3' target='_blank' rel='nofollow'>Customer Verified: Read more.</a>
Top Rated
105 Ratings
24 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
105 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
24 Ratings
<a href='https://www.trustradius.com/static/about-trustradius-scoring' target='_blank' rel='nofollow'>trScore algorithm: Learn more.</a>
Score 8.8 out of 101

Likelihood to Recommend

Accounting by Wave

Wave is well suited for small businesses looking to have an accounting service that won't hinder profitability. Wave is a great service for a small business owner just starting out and is flexible enough to meet demands of larger businesses. Wave even offers a paid payroll service if needed for any business owner. The ease of use with Wave makes it perfect for non-accountants, and for accountants they have tools available that they are used to seeing with other accounting software.
Lukas Sundahl, MBA profile photo

Vena Solutions

Vena Solutions is well suited for any business process that can use Excel spreadsheets for data collection and data aggregation and for which approval or process flow workflows are desired. Vena Solutions is also ideal as a CPM product that combines data collection, version controls, reporting capabilities and security controls.
Lori Lambert profile photo

Feature Rating Comparison

Payroll Management

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

Customization

Accounting by Wave
8.8
Vena Solutions
API for custom integration
Accounting by Wave
8.7
Vena Solutions
Plug-ins
Accounting by Wave
8.8
Vena Solutions

Security

Accounting by Wave
8.5
Vena Solutions
Single sign-on capability
Accounting by Wave
9.1
Vena Solutions
Role-based user permissions
Accounting by Wave
7.9
Vena Solutions

Reporting & Analytics

Accounting by Wave
8.5
Vena Solutions
Dashboards
Accounting by Wave
8.5
Vena Solutions
Standard reports
Accounting by Wave
8.3
Vena Solutions
Custom reports
Accounting by Wave
8.6
Vena Solutions

General Ledger and Configurable Accounting

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

Inventory Management

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

Order Management

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

Accounting Firm BPO Features

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

BI Standard Reporting

Accounting by Wave
Vena Solutions
10.0
Customizable dashboards
Accounting by Wave
Vena Solutions
10.0
Report Formatting Templates
Accounting by Wave
Vena Solutions
10.0

Ad-hoc Reporting

Accounting by Wave
Vena Solutions
10.0
Drill-down analysis
Accounting by Wave
Vena Solutions
10.0
Formatting capabilities
Accounting by Wave
Vena Solutions
10.0
Report sharing and collaboration
Accounting by Wave
Vena Solutions
10.0

Report Output and Scheduling

Accounting by Wave
Vena Solutions
10.0
Publish to PDF
Accounting by Wave
Vena Solutions
10.0
Report Versioning
Accounting by Wave
Vena Solutions
10.0
Report Delivery Scheduling
Accounting by Wave
Vena Solutions
10.0

Data Discovery and Visualization

Accounting by Wave
Vena Solutions
10.0
Pre-built visualization formats (heatmaps, scatter plots etc.)
Accounting by Wave
Vena Solutions
10.0

Access Control and Security

Accounting by Wave
Vena Solutions
10.0
Multi-User Support (named login)
Accounting by Wave
Vena Solutions
10.0
Role-Based Security Model
Accounting by Wave
Vena Solutions
10.0
Multiple Access Permission Levels (Create, Read, Delete)
Accounting by Wave
Vena Solutions
10.0

Budgeting, Planning, and Forecasting

Accounting by Wave
Vena Solutions
8.8
Long-term financial planning
Accounting by Wave
Vena Solutions
9.0
Financial budgeting
Accounting by Wave
Vena Solutions
9.4
Forecasting
Accounting by Wave
Vena Solutions
8.5
Scenario modeling
Accounting by Wave
Vena Solutions
8.8
Management reporting
Accounting by Wave
Vena Solutions
8.2

Consolidation and Close

Accounting by Wave
Vena Solutions
9.1
Financial data consolidation
Accounting by Wave
Vena Solutions
9.5
Journal entries and reports
Accounting by Wave
Vena Solutions
9.0
Multi-currency management
Accounting by Wave
Vena Solutions
9.5
Intercompany Eliminations
Accounting by Wave
Vena Solutions
6.8
Minority Ownership
Accounting by Wave
Vena Solutions
9.1
Local and consolidated reporting
Accounting by Wave
Vena Solutions
9.7
Detailed Audit Trails
Accounting by Wave
Vena Solutions
9.7

FInancial Reporting and Compliance

Accounting by Wave
Vena Solutions
9.0
Financial Statement Reporting
Accounting by Wave
Vena Solutions
9.5
Management Reporting
Accounting by Wave
Vena Solutions
8.7
Excel-based Reporting
Accounting by Wave
Vena Solutions
9.5
Automated board and financial reporting
Accounting by Wave
Vena Solutions
8.2

Analytics

Accounting by Wave
Vena Solutions
7.4
Personalized dashboards
Accounting by Wave
Vena Solutions
7.2
Color-coded scorecards
Accounting by Wave
Vena Solutions
6.2
KPIs
Accounting by Wave
Vena Solutions
6.5
Cost and profitability analysis
Accounting by Wave
Vena Solutions
9.6
Key Performance Indicator setting
Accounting by Wave
Vena Solutions
6.5
Benchmarking with external data
Accounting by Wave
Vena Solutions
8.5

Integration

Accounting by Wave
Vena Solutions
9.5
Flat file integration
Accounting by Wave
Vena Solutions
9.3
Excel data integration
Accounting by Wave
Vena Solutions
9.7
Direct links to 3rd-party data sources
Accounting by Wave
Vena Solutions
9.5

Pros

Accounting by Wave

  • 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

Vena Solutions

  • Vena Solutions is super flexible - if you can think it in Excel, you can make it happen in Vena.
  • Having an online process and file management system is excellent for keeping everything together and organized. We have cut down the amount of emails back and forth tremendously.
  • User acceptance has been extremely high as people are working in a tool they are familiar with.
  • Support is very responsive and the company seems to truly care about the customer experience.
Carrie Self, CPA profile photo

Cons

Accounting by Wave

  • 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

Vena Solutions

  • As great as the tool is, there is very little "out-of-the-box" functionality - you and your consultant will have to build everything from scratch (We took an assisted implementation approach, so we did much more of the set up than some companies do from my understanding). The process is quick and helps you understand the product, but it takes a some thinking.
  • The company is relatively small and a relatively new player in the market, so the user community and support forums are not very useful.
  • The developers are constantly updating the product, but the company doesn't do a great job of communicating new features to the users.
  • I would really like to see some more built in calculation features (spread methods and such) without having to build long excel formulas.
Carrie Self, CPA profile photo

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

Vena Solutions

Vena Solutions 9.1
Based on 1 answer
We have been extremely satisfied with the Vena Solutions product and have been able to become more efficient in our budgeting, forecasting and salary planning processes, as well as adding functionality and accuracy that was not possible in the past. Administrators no longer have to keep track manually of each department's budgeted net, but can use a report created in Vena to report this information, as well as see which departments have not yet submitted information. Customer service has always been very responsive as well
Lori Lambert profile photo

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

Vena Solutions

Vena Solutions 9.1
Based on 1 answer
One is only limited by their knowledge of Excel functions and basic understanding of database management. One does not need to know VBA, VB, C++ or even SQL.
Megan Bladen-Blinkoff profile photo

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

Vena Solutions

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

Vena Solutions

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

Vena Solutions

Vena Solutions 8.2
Based on 1 answer
Customer support has been very prompt for both bug fixes and data loading. Enhancement requests have taken a bit longer to implement, but are within what we would consider a normal time frame compared to other software we use. I rarely have to wait long for an issue to be resolved
Lori Lambert profile photo

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

Vena Solutions

No score
No answers yet
No answers on this topic

Implementation

Accounting by Wave

No score
No answers yet
No answers on this topic

Vena Solutions

Vena Solutions 9.1
Based on 1 answer
The Vena consultant had great knowledge of both the Vena solution and Excel and Excel functions. He was able to help suggest ways to build our templates that met our requirements using Excel functions we had not previously considered using. And we have been able to use the Excel information he provided in other ways outside of Vena. He was very patient and flexible as we learned the Vena tool and created templates
Lori Lambert profile photo

Alternatives Considered

Accounting by Wave

Wave was more affordable and we were already using it for accounting. The services offered are comparable and quite reliable.
Geri Lynn Peak profile photo

Vena Solutions

We previously used 9Dots and the product completely stopped working for us and the customer service was terrible in trying to resolve the issue. Vena is the complete opposite.
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

Vena Solutions

No score
No answers yet
No answers on this topic

Return on Investment

Accounting by Wave

  • Keeps me up to date for taxing purposes
Torrey Holman profile photo

Vena Solutions

  • It has helped us decrease the amount of time that it takes to prepare closing schedules.
  • It has also helped us manage our closing process.
Michelle Canada, CPA 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

Vena Solutions

General

Free Trial
Free/Freemium Version
Premium Consulting/Integration Services
Yes
Entry-level set up fee?
Optional
$0*
1.  per user
Additional Pricing Details

Add comparison