What users are saying about
35 Ratings
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Top Rated
118 Ratings
35 Ratings
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Score 7.6 out of 100

Wave Accounting

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Top Rated
118 Ratings
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Score 8.5 out of 100

Likelihood to Recommend

FreeAgent

FreeAgent is really suited to the financial management of a small business. Especially an owner managed business as it provides all the tools to keep on top of finances. It can reduce the need for a bookkeeper as it is easy to add expenses and reconcile them with the linked bank accounts. The integrated payroll would also reduce the need for third-party management of such processes. Would still recommend the use of an accountant to advise on more complex financial requirements.
Vince McConville | TrustRadius Reviewer

Wave Accounting

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 | TrustRadius Reviewer

Feature Rating Comparison

Payroll Management

FreeAgent
8.6
Wave Accounting
8.0
Pay calculation
FreeAgent
8.0
Wave Accounting
8.5
Benefit plan administration
FreeAgent
8.5
Wave Accounting
7.5
Direct deposit files
FreeAgent
8.9
Wave Accounting
8.3
Salary revision and increment management
FreeAgent
8.8
Wave Accounting
7.6
Reimbursement management
FreeAgent
8.7
Wave Accounting
8.0

Customization

FreeAgent
5.5
Wave Accounting
7.8
API for custom integration
FreeAgent
4.5
Wave Accounting
8.0
Plug-ins
FreeAgent
6.4
Wave Accounting
7.5

Security

FreeAgent
8.5
Wave Accounting
8.5
Single sign-on capability
FreeAgent
9.0
Wave Accounting
8.8
Role-based user permissions
FreeAgent
8.0
Wave Accounting
8.3

Reporting & Analytics

FreeAgent
7.8
Wave Accounting
8.5
Dashboards
FreeAgent
10.0
Wave Accounting
8.5
Standard reports
FreeAgent
9.0
Wave Accounting
8.6
Custom reports
FreeAgent
4.4
Wave Accounting
8.3

General Ledger and Configurable Accounting

FreeAgent
9.3
Wave Accounting
7.9
Accounts payable
FreeAgent
10.0
Wave Accounting
7.7
Accounts receivable
FreeAgent
10.0
Wave Accounting
8.4
Cash management
FreeAgent
10.0
Wave Accounting
7.9
Bank reconciliation
FreeAgent
10.0
Wave Accounting
8.0
Expense management
FreeAgent
10.0
Wave Accounting
8.6
Time tracking
FreeAgent
10.0
Wave Accounting
5.7
Fixed asset management
FreeAgent
8.6
Wave Accounting
8.4
Multi-currency support
FreeAgent
9.1
Wave Accounting
7.2
Multi-division support
FreeAgent
9.0
Wave Accounting
7.1
Regulations compliance
FreeAgent
8.7
Wave Accounting
6.6
Electronic tax filing
FreeAgent
9.0
Wave Accounting
7.7
Self-service portal
FreeAgent
9.0
Wave Accounting
7.7
Journals and Reconciliations
FreeAgent
8.0
Wave Accounting
7.5
Global Financial Support
FreeAgent
Wave Accounting
9.0
Primary and Secondary Ledgers
FreeAgent
Wave Accounting
9.1
Intercompany Accounting
FreeAgent
Wave Accounting
8.5
Localizations
FreeAgent
Wave Accounting
7.6
Enterprise Accounting
FreeAgent
Wave Accounting
7.4
Configurable Accounting
FreeAgent
Wave Accounting
7.9
Centralized Rules Framework
FreeAgent
Wave Accounting
8.4
Standardized Processes
FreeAgent
Wave Accounting
8.7

Inventory Management

FreeAgent
7.4
Wave Accounting
8.1
Inventory tracking
FreeAgent
7.7
Wave Accounting
5.9
Automatic reordering
FreeAgent
8.2
Wave Accounting
9.1
Location management
FreeAgent
4.5
Wave Accounting
8.4
Manufacturing module
FreeAgent
9.1
Wave Accounting
9.0

Order Management

FreeAgent
8.1
Wave Accounting
8.1
Pricing
FreeAgent
8.1
Wave Accounting
8.4
Order entry
FreeAgent
6.8
Wave Accounting
8.4
Credit card processing
FreeAgent
8.2
Wave Accounting
8.3
Cost of goods sold
FreeAgent
9.1
Wave Accounting
8.0
Order Orchestration
FreeAgent
Wave Accounting
7.0
End-to-end order visibility
FreeAgent
Wave Accounting
8.9
Order exception Resolution
FreeAgent
Wave Accounting
7.4

Pros

FreeAgent

  • Accounting! As you'd expect. Makes it much simpler andmore cost effective. In-coming and out-goings are recorded and assigned to projects and accounts. My accountant can access my books and reconcile so much more easily than trawling through spreadsheets.
  • Time billing - time spent on projects/client work is recorded and is ready to be invoiced as required. Saves so much time and prevents inaccuracies.
  • Invoicing - again, it should do this well and it does. Non payment reminders are automatic and clients have no excuses for not knowing the status of their account.
  • Account dashboard - gives me an instant overview of the health of the business (am I on track to meet my yearly targets) and my accounts.
Eddie May | TrustRadius Reviewer

Wave Accounting

  • 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 | TrustRadius Reviewer

Cons

FreeAgent

  • Reporting on financials, time tracking and project status is a little poor. It's adequate for what what we need, but would be great to see more advanced features.
  • API is quite closed so cannot integrate with our other project management tools.
Anthony Stretten | TrustRadius Reviewer

Wave Accounting

  • 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 | TrustRadius Reviewer

Likelihood to Renew

FreeAgent

No score
No answers yet
No answers on this topic

Wave Accounting

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

Usability

FreeAgent

FreeAgent 9.1
Based on 4 answers
I spent nearly two decades in IT and am happy to say that FreeAgent's user interface is one of the best interfaces I have ever used.
Edgar Danielyan | TrustRadius Reviewer

Wave Accounting

Wave Accounting 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 | TrustRadius Reviewer

Reliability and Availability

FreeAgent

FreeAgent 8.9
Based on 5 answers
Based in a cloud and never had any issues with down time. I can access from any device
Gavin Percy | TrustRadius Reviewer

Wave Accounting

Wave Accounting 6.7
Based on 4 answers
WAVE is always available when we need it ! Peter
Peter Cullen | TrustRadius Reviewer

Performance

FreeAgent

FreeAgent 9.1
Based on 1 answer
No answer on this topic is available.

Wave Accounting

Wave Accounting 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 | TrustRadius Reviewer

Support

FreeAgent

No score
No answers yet
No answers on this topic

Wave Accounting

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

Online Training

FreeAgent

No score
No answers yet
No answers on this topic

Wave Accounting

Wave Accounting 4.7
Based on 3 answers
easy to use and east to train on ! Our WAVE clients enjoy the ease of use
Peter Cullen | TrustRadius Reviewer

Alternatives Considered

FreeAgent

I used Fresh Books for about three years prior to switching to FreeAgent. It was the accounting functionality that made the difference - in the past two years I've not regretted the switch. Fresh Books is good, but its the UK accounting features that make FreeAgent indispensable to my business.
Eddie May | TrustRadius Reviewer

Wave Accounting

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 | TrustRadius Reviewer

Scalability

FreeAgent

FreeAgent 8.2
Based on 1 answer
No answer on this topic is available.

Wave Accounting

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

Return on Investment

FreeAgent

  • Professional and uniform offering providing great confident customer service. My clients love it, whether they use it a little or a lot. It's a great piece of software - while sophisticated, it's straightforward to use.
  • Time saving and efficient use of my team's time. Being able to easily share and compare work / tasks.
Jason Dalton AICB CB.Cert PM.Dip | TrustRadius Reviewer

Wave Accounting

  • Wave is free. As a small business owner, it's difficult for me to commit to using too many different software because costs add up. Wave is a very competitive application with many features. I don't think I can go elsewhere at this point. It's far too attractive.
  • Wave does have paid features relating to payroll and bank account transfers. I prefer to handle incoming payments through checks manually so I don't worry about bank transfers. For some, this might be a concern, but you are likely paying for this no matter what you use.
  • Wave has saved me a considerable amount of time going back and forth between my bank's website and excel sheets. This is immeasurable to me. Keeping invoices in one place is also a big deal. I really love this software.
Chris Hecox | TrustRadius Reviewer

Pricing Details

FreeAgent

General

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

Wave Accounting

General

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

Rating Summary

Likelihood to Recommend

FreeAgent
10.0
Wave Accounting
8.5

Likelihood to Renew

FreeAgent
Wave Accounting
7.8

Usability

FreeAgent
9.1
Wave Accounting
5.3

Reliability and Availability

FreeAgent
8.9
Wave Accounting
6.7

Performance

FreeAgent
9.1
Wave Accounting
2.9

Support

FreeAgent
Wave Accounting
9.0

Online Training

FreeAgent
Wave Accounting
4.7

Scalability

FreeAgent
8.2
Wave Accounting
3.0

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