Akaunting vs. Wave Accounting

Akaunting

Wave Accounting

Overview
Product	Rating	Most Used By	Product Summary	Starting Price
Akaunting	Score 5.0 out of 10	N/A	Akaunting is an online accounting software that enables the user to track income and expenses, from the company of the same name in Istanbul. The company offers a free version of its product.	$12 per month
Wave Accounting	Score 7.4 out of 10	N/A	Wave Accounting is a free, cloud-based accounting platform exclusively for small businesses. It supports double-entry bookkeeping and permits unlimited user access, invoicing, and expense management. Wave Accounting integrates with Wave's invoicing, receipt scanning, payment processing and payroll apps.	$0

Pricing

Akaunting

Wave Accounting

Editions & Modules

Standard Cloud: $12
per month
Premium Cloud: $36
per month
Elite Cloud: $84
per month
Ultimate Cloud: $218
per month

Starter: $0
Pro: $16
per month
Pro - billed annually: $170
per year

Offerings

Pricing Offerings
Akaunting	Wave Accounting
Free Trial
Yes	No
Free/Freemium Version
No	Yes
Premium Consulting/Integration Services
No	No

Entry-level Setup Fee

No setup fee

Additional Details

Discounts available for annual pricing.

—

More Pricing Information

Community Pulse
	Akaunting	Wave Accounting
Considered Both Products	Akaunting Bhabishya Bhatt Sales Manager Chose Akaunting It is very easy to use and get started with. It can be installed into my own hosting easily and is open source too which means I can add more features myself if I know programming. Incentivized Helpful?	Wave Accounting Verified User Anonymous Chose Wave Accounting I use QuickBooks for another business and Wave isn’t even close. You can get a live person 24/7 and you get paid in 24 hours. This business is too small for QB. Incentivized Helpful? Nikki Brandt, CPCU, AU, AIS, AINS President & Founder Chose Wave Accounting I used to have Quickbooks and it was very expensive and had functions I just didn't need. This is simple and easy to use. Perfect for small business owner. Incentivized Helpful? DJ Daniel Jaworski Certified Public Accountant Chose Wave Accounting It is a useful solution but not designed for the UK market. For a businesses that want to see their debtors, creditors, profit and loss and balance sheet it is a great solution, however with those needing legal UK compliance the software will not work as well and the other free … Incentivized Helpful? Lisa A Lewis Owner Chose Wave Accounting Albeit Xero is much more robust and does require a monthly subscription payment. Wave Accounting is perfect for the very small client that does not have funds to pay for accounting subscriptions nor the high level of transactional/account management required of some clients. Incentivized Helpful? Allen Eshmoili President/CEO Chose Wave Accounting quickbooks seems to be more feature rich and can connect to my POS. At some point i may witch over if my accounting becomes too complicated for Wave Accounting Incentivized Helpful? Verified User Anonymous Chose Wave Accounting Wave is easier to understand for the accounting illiterate Wave is free Incentivized Helpful? Verified User Anonymous Chose Wave Accounting Xero, Facebook Business Manager (formerly Pages Manager), Google Search Console, DataCamp and BuildSmart Incentivized Helpful? Tony Rayl Chief Executive Officer Chose Wave Accounting It doesn't in anyway due to the fraud that is inflicted on so many companies! Incentivized Helpful? Verified User Anonymous Chose Wave Accounting This was my first invoice company. I had seen Freshly before. Venmo is far less of an accounting tool. QuickBooks seems terrible with a monthly cost. Which is why I hadn't moved companies yet. But I just learned my Website host, Wix, offers it right through my site and Clients … Incentivized Helpful? Verified User Anonymous Chose Wave Accounting Wave's price point was in line with what my company needed to manage basic accounting (payable and receivable accounts). It made it easy for me to issue monthly invoices to clients and track when invoices were paid. The software makes these tasks easy to manage and inputting … Incentivized Helpful? Verified User Anonymous Chose Wave Accounting I shopped Wave and Quickbooks. I loved Wave's interface and ease of use. It had everything I needed for the free version. Incentivized Helpful? Verified User Anonymous Chose Wave Accounting The best feature about wave is that they let you use it for free for basic accounting and pay per use payments. But based on my horrible experience with how they cancelled my payments feature, I would never use them again! Incentivized Helpful? HA Harry Abell Treasurer Chose Wave Accounting Wonderful, great support, and many videos on how to do it. Fast response to emails. Does "Fund Accounting" that is required for many non-profits. Incentivized Helpful? Magdalene van der Walt Managing Director Chose Wave Accounting As I stated previously, Wave is a free system. It serve you well as non-resident of USA/Canada for your basic bookkeeping needs, as a micro-business. If you are a resident of those countries, you will benefit immensely from the payroll function as well. If you are looking for a … Incentivized Helpful? Vin Campbell President Chose Wave Accounting Circling back to the "free" thing again. For a small business, I am getting for free what QuickBooks online charges no less than $40/month. Moving away from "free," these other solutions I listed above do more, and these would be the right solutions for the right needs. All of … Incentivized Helpful? JaCoby Marston, CPA Chief Financial Officer » Finance Management \| Accounting \| Taxation \| Cost Controls Chose Wave Accounting Wave Accounting is very similar to QuickBooks Online. The functions of Wave Accounting are very similar to QuickBooks Online. The major difference is that with the low pricing of Wave Accounting, it lacks all of the bells and whistles that QuickBooks Online has like … Incentivized Helpful? SM Stephanie Majeran Owner Chose Wave Accounting I was not impressed with Xero or Zipbooks simply because they were expensive and still as, if not more, confusing than QuickBooks. QuickBooks is, unfortunately, the standard. I dislike it, and I think it is just a huge corporation trying to steal small businesses money, but … Incentivized Helpful? Ashley Mumm Owner Chose Wave Accounting Wave feels more geared toward a younger generation. QB feels very old and stuffy, though they're slowly coming around. QB feels much more powerful than Wave but Wave did what I needed it to do. My CPA had never heard of it before so I ended up needing to have both, but Wave … Incentivized Helpful? Andrea Mitchell, MSW, APSW Owner Chose Wave Accounting I chose to keep Wave first because it is free and easy to use but I also could not find anything else that allowed me to create customer categorizations at least not with a free account. There have been a lot of improvements to Wave over the years so the reasons I was looking … Incentivized Helpful? Patrick Contreras Creative Executive Chose Wave Accounting Basically, we selected Wave because it was a free accounting system. We have not tried another accounting system that is so much better than Wave Accounting that we should leave Wave Accounting. Every time, we find another online accounting system we do a review of the system … Incentivized Helpful? Verified User Anonymous Chose Wave Accounting Invoicing is the only feature I was looking for and for that Wave had a better UI, which is why I selected it versus Stripe. I believe Stripe has more functionality, but it was more than I needed for my purposes. That being said, I do use Stripe in conjunction with Wave … Incentivized Helpful? Marc Garcia President Chose Wave Accounting Honestly, it stacks up pretty good except for the ACH transactions. With QuickBooks, ACH transactions were in my account in 2 business days at the 1% charge (that both companies charge). The support is similar on both sides. I spent 18 days trying to cancel my QuickBooks … Incentivized Helpful? SS Sean Stewart Partner Chose Wave Accounting Unfortunately we did not do our due diligence before selecting Wave. We came across them through our payroll provider (ADP) and assumed that it was good since we have had a great experience with ADP. In the future I would strongly recommend others to not just read online … Incentivized Helpful? David Schwartz IT Director Chose Wave Accounting I trialled Freshbooks a while back but they pack too much into the system for what it is. Wave has a super simple UI and dashboard and doesn't feel overly complicated to navigate yet offers all the features everyone is looking for. Being able to customize the system to brand … Incentivized Helpful? J.P. VanderLinden Owner Chose Wave Accounting For the pricing arrangement, the ease of use and the user-friendliness of the app, Wave crushes Quickbooks Online and Zoho Books. Freshbooks was a little bit closer as the two are more of an apples-to-apples comparison, but Freshbooks doesn't offer a non-paid option and they … Incentivized Helpful?

Features

Akaunting

Wave Accounting

Security

Comparison of Security features of Product A and Product B
	Akaunting 7.0 Ratings 16% below category average	Wave Accounting 6.4 Ratings 25% below category average
Role-based user permissions	7.00 Ratings	6.40 Ratings
Single sign-on capability	00 Ratings	6.40 Ratings

Reporting & Analytics

Comparison of Reporting & Analytics features of Product A and Product B
	Akaunting 8.3 Ratings 5% above category average	Wave Accounting 9.3 Ratings 16% above category average
Dashboards	9.00 Ratings	9.20 Ratings
Standard reports	7.00 Ratings	9.60 Ratings
Custom reports	9.00 Ratings	9.00 Ratings

General Ledger and Configurable Accounting

Comparison of General Ledger and Configurable Accounting features of Product A and Product B
	Akaunting 6.0 Ratings 24% below category average	Wave Accounting 7.4 Ratings 3% below category average
Accounts payable	3.00 Ratings	9.40 Ratings
Accounts receivable	5.00 Ratings	9.40 Ratings
Multi-currency support	9.00 Ratings	10.00 Ratings
Self-service portal	5.00 Ratings	8.00 Ratings
Localizations	8.00 Ratings	5.20 Ratings
Cash management	00 Ratings	9.70 Ratings
Bank reconciliation	00 Ratings	8.50 Ratings
Expense management	00 Ratings	9.50 Ratings
Time tracking	00 Ratings	9.80 Ratings
Fixed asset management	00 Ratings	9.80 Ratings
Multi-division support	00 Ratings	7.10 Ratings
Regulations compliance	00 Ratings	5.00 Ratings
Electronic tax filing	00 Ratings	5.90 Ratings
Global Financial Support	00 Ratings	9.00 Ratings
Primary and Secondary Ledgers	00 Ratings	9.00 Ratings
Intercompany Accounting	00 Ratings	4.00 Ratings
Journals and Reconciliations	00 Ratings	8.50 Ratings
Enterprise Accounting	00 Ratings	4.00 Ratings
Configurable Accounting	00 Ratings	5.00 Ratings
Centralized Rules Framework	00 Ratings	1.00 Ratings
Standardized Processes	00 Ratings	7.00 Ratings

Order Management

Comparison of Order Management features of Product A and Product B
	Akaunting 8.5 Ratings 13% above category average	Wave Accounting 7.6 Ratings 2% above category average
Pricing	9.00 Ratings	9.90 Ratings
Order entry	8.00 Ratings	10.00 Ratings
Credit card processing	8.00 Ratings	2.30 Ratings
Cost of goods sold	9.00 Ratings	10.00 Ratings
Order Orchestration	00 Ratings	5.80 Ratings
End-to-end order visibility	00 Ratings	8.20 Ratings
Order exception Resolution	00 Ratings	7.00 Ratings

Customization

Comparison of Customization features of Product A and Product B
	Akaunting 10.0 Ratings 27% above category average	Wave Accounting 8.5 Ratings 11% above category average
Plug-ins	10.00 Ratings	7.00 Ratings
API for custom integration	00 Ratings	9.90 Ratings

Payroll Management

Comparison of Payroll Management features of Product A and Product B
	Akaunting - Ratings	Wave Accounting 6.2 Ratings 20% below category average
Pay calculation	00 Ratings	7.10 Ratings
Benefit plan administration	00 Ratings	7.50 Ratings
Direct deposit files	00 Ratings	1.20 Ratings
Salary revision and increment management	00 Ratings	7.70 Ratings
Reimbursement management	00 Ratings	7.40 Ratings

Inventory Management

Comparison of Inventory Management features of Product A and Product B
	Akaunting - Ratings	Wave Accounting 8.1 Ratings 10% above category average
Inventory tracking	00 Ratings	5.60 Ratings
Automatic reordering	00 Ratings	9.90 Ratings
Location management	00 Ratings	8.10 Ratings
Manufacturing module	00 Ratings	9.00 Ratings

Best Alternatives
	Akaunting	Wave Accounting
Small Businesses	QuickBooks Self-Employed (discontinued) Score 4.9 out of 10	QuickBooks Self-Employed (discontinued) Score 4.9 out of 10
Medium-sized Companies	Zoho Books Score 9.0 out of 10	Zoho Books Score 9.0 out of 10
Enterprises	Oracle Fusion Cloud Enterprise Performance Management Score 7.3 out of 10	Oracle Fusion Cloud Enterprise Performance Management Score 7.3 out of 10
All Alternatives	View all alternatives	View all alternatives

User Ratings
	Akaunting	Wave Accounting
Likelihood to Recommend	5.0 (0 ratings)	9.2 (0 ratings)
Likelihood to Renew	- (0 ratings)	7.8 (0 ratings)
Usability	8.0 (0 ratings)	9.7 (0 ratings)
Availability	- (0 ratings)	6.7 (0 ratings)
Performance	- (0 ratings)	2.9 (0 ratings)
Support Rating	5.0 (0 ratings)	2.1 (0 ratings)
Online Training	- (0 ratings)	4.7 (0 ratings)
Product Scalability	- (0 ratings)	3.0 (0 ratings)

User Testimonials
	Akaunting	Wave Accounting
Likelihood to Recommend	If anyone is searching for cloud-based Accounting software and have never used any accounting software before, then Akaunting is perfect for them. They can easily use it which will help me a lot. It has a beautiful UI and a simple one which makes it easy to use for everyone. A small business and a starting business are a good fit for this software. Incentivized Bhabishya Bhatt Sales Manager Read full review	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. Incentivized J.P. VanderLinden Owner Read full review
Pros	Easy to use. Can be installed into own hosting. Have lots of features. Incentivized Bhabishya Bhatt Sales Manager Read full review	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. Incentivized Verified User Anonymous Read full review
Cons	They should make their add ons more cheaper. And they should make few add ons free which are essential. Incentivized Bhabishya Bhatt Sales Manager Read full review	One area of improvement for Wave would be combining the various mobile applications into one app. Another room for improvement would be on the dashboard level. It would be great if they could use more bar graphs and get away from pie charts for things like expenses. Some of the other areas from improvement have been addressed by recent updates so I am excited to see what else Wave brings out. Incentivized Lukas Sundahl, MBA Co-Founder Read full review
Likelihood to Renew	No answers on this topic	Easy to use for clients with no accounting background and the price is right. Jeanne Harris President Read full review
Usability	Because I loved this software and I want others to know about it too, it will surely help many others who are searching for simple accounting software like I was searching some time ago. Incentivized Bhabishya Bhatt Sales Manager Read full review	Wave [Accounting] is very simple and easy to use. Minimal training was required for all our users as the interface is very user-friendly, especially for small businesses looking to use something to track their financial data, Invoice and make payments. I loved using Wave [Accounting]. It lookes professional and [has] all the features we were looking for. Verified User Anonymous Read full review
Reliability and Availability	No answers on this topic	WAVE is always available when we need it ! Peter Peter Cullen Partner at Core Performance Read full review
Performance	No answers on this topic	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 Owner Read full review
Support Rating	I have never tried to call their support, but checking their documentation and FAQs, etc helped me a lot so they deserved this rating... Incentivized Bhabishya Bhatt Sales Manager Read full review	I've only had to reach out to support once and they were quick to respond and offered valuable insight to resolve my issue quickly. The team is knowledgeable and if the person you're dealing with doesn't have an answer for you, they get back to you quickly with an answer. It was clear that the support team is genuinely concerned about users making the most of the software. Incentivized Verified User Anonymous Read full review
Online Training	No answers on this topic	easy to use and east to train on ! Our WAVE clients enjoy the ease of use Peter Cullen Partner at Core Performance Read full review
Alternatives Considered	It is very easy to use and get started with. It can be installed into my own hosting easily and is open source too which means I can add more features myself if I know programming. Incentivized Bhabishya Bhatt Sales Manager Read full review	Wave's price point was in line with what my company needed to manage basic accounting (payable and receivable accounts). It made it easy for me to issue monthly invoices to clients and track when invoices were paid. The software makes these tasks easy to manage and inputting data for accurate accounting and invoicing is a breeze. It really offers a lot of flexibility, so you can use the software the way you need it. Incentivized Verified User Anonymous Read full review
Scalability	No answers on this topic	Once they out grow what is ability to move up to a more robust system? Penny Breslin Account Manager Read full review
Return on Investment	Akaunting has helped me a lot since I started using it. Incentivized Bhabishya Bhatt Sales Manager Read full review	Wave has enabled our accounts payable to maintain a 99% closure rate by leveraging auto reminders through the email system. Our quote to invoice process is a single click, saving time and effort. Even minor changes during that transition occur simply and easily. Aside from payments, Wave has been free for our usage. Our bottom line is better because we're not investing in software but instead embracing an entire ecosystem. Incentivized Verified User Anonymous Read full review
ScreenShots