What users are saying about
34 Ratings
<a href='https://www.trustradius.com/static/about-trustradius-scoring#question3' target='_blank' rel='nofollow'>Customer Verified: Read more.</a>
Top Rated
108 Ratings
34 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

Wave Accounting

<a href='https://www.trustradius.com/static/about-trustradius-scoring#question3' target='_blank' rel='nofollow'>Customer Verified: Read more.</a>
Top Rated
108 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

FreeAgent

FreeAgent is well suited to the industries that it is targeted at - anyone who does freelance or is a small firm. The software is amazing; the price point is fantastic, as you get discounts for referrals, the more people you refer to FreeAgent, the less you pay! The team is very responsive to support requests and improvements as well
Rob Parkhill profile photo

Wave Accounting

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

Feature Rating Comparison

Payroll Management

FreeAgent
8.6
Wave Accounting
8.1
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
8.4
Salary revision and increment management
FreeAgent
8.8
Wave Accounting
7.8
Reimbursement management
FreeAgent
8.7
Wave Accounting
8.3

Customization

FreeAgent
5.5
Wave Accounting
8.6
API for custom integration
FreeAgent
4.5
Wave Accounting
8.7
Plug-ins
FreeAgent
6.4
Wave Accounting
8.6

Security

FreeAgent
8.5
Wave Accounting
8.4
Single sign-on capability
FreeAgent
9.0
Wave Accounting
8.8
Role-based user permissions
FreeAgent
8.0
Wave Accounting
8.0

Reporting & Analytics

FreeAgent
7.8
Wave Accounting
8.6
Dashboards
FreeAgent
10.0
Wave Accounting
8.5
Standard reports
FreeAgent
9.0
Wave Accounting
8.5
Custom reports
FreeAgent
4.4
Wave Accounting
8.7

General Ledger and Configurable Accounting

FreeAgent
9.3
Wave Accounting
8.0
Accounts payable
FreeAgent
10.0
Wave Accounting
8.6
Accounts receivable
FreeAgent
10.0
Wave Accounting
9.2
Cash management
FreeAgent
10.0
Wave Accounting
8.1
Bank reconciliation
FreeAgent
10.0
Wave Accounting
7.6
Expense management
FreeAgent
10.0
Wave Accounting
8.5
Time tracking
FreeAgent
10.0
Wave Accounting
6.7
Fixed asset management
FreeAgent
8.6
Wave Accounting
7.9
Multi-currency support
FreeAgent
9.1
Wave Accounting
8.1
Multi-division support
FreeAgent
9.0
Wave Accounting
7.2
Regulations compliance
FreeAgent
8.7
Wave Accounting
5.9
Electronic tax filing
FreeAgent
9.0
Wave Accounting
6.3
Self-service portal
FreeAgent
9.0
Wave Accounting
8.3
Journals and Reconciliations
FreeAgent
8.0
Wave Accounting
7.3
Global Financial Support
FreeAgent
Wave Accounting
9.0
Primary and Secondary Ledgers
FreeAgent
Wave Accounting
9.2
Intercompany Accounting
FreeAgent
Wave Accounting
8.6
Localizations
FreeAgent
Wave Accounting
9.5
Enterprise Accounting
FreeAgent
Wave Accounting
7.5
Configurable Accounting
FreeAgent
Wave Accounting
8.0
Centralized Rules Framework
FreeAgent
Wave Accounting
8.5
Standardized Processes
FreeAgent
Wave Accounting
8.3

Inventory Management

FreeAgent
7.4
Wave Accounting
8.3
Inventory tracking
FreeAgent
7.7
Wave Accounting
7.1
Automatic reordering
FreeAgent
8.2
Wave Accounting
8.8
Location management
FreeAgent
4.5
Wave Accounting
8.5
Manufacturing module
FreeAgent
9.1
Wave Accounting
9.0

Order Management

FreeAgent
8.1
Wave Accounting
8.3
Pricing
FreeAgent
8.1
Wave Accounting
8.6
Order entry
FreeAgent
6.8
Wave Accounting
8.7
Credit card processing
FreeAgent
8.2
Wave Accounting
8.5
Cost of goods sold
FreeAgent
9.1
Wave Accounting
8.7
Order Orchestration
FreeAgent
Wave Accounting
8.0
End-to-end order visibility
FreeAgent
Wave Accounting
7.9
Order exception Resolution
FreeAgent
Wave Accounting
7.5

Pros

FreeAgent

  • Recurring invoices with automated follow-up is fantastic for helping to get paid on time
  • Automated bank transfers are the easiest way to ensure that I can reconcile my accounts with ease
  • Support is fantastic
  • Built-in Time tracking for projects/tasks (integration with Basecamp to get this info) is fantastic, it allows us to accurately track what we are working on and get paid for it!
Rob Parkhill profile photo

Wave Accounting

  • 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

Cons

FreeAgent

  • Client-specific email templates would be very useful.
Josh Hardman profile photo

Wave Accounting

  • 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

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 profile photo

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 profile photo

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 profile photo

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 profile photo

Wave Accounting

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

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 profile photo

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 profile photo

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 profile photo

Alternatives Considered

FreeAgent

I haven't used other products, I used freeagent and was so impressed that I've continued to use it and recommend to other
Russell Greig MCIArb profile photo

Wave Accounting

Wave is FREE for most functions. Payment processing costs no matter where you go (as does payroll or taxes). Wave rises above tools like QuickBooks Online because they know that for our small firm, being nimble is the name of the game. We don't need exhaustive reporting and management like QB offers and we certainly don't want to pay for it
No photo available

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 profile photo

Return on Investment

FreeAgent

  • Efficiency.
  • Control of VAT limits to keep under regulation for a small business.
Kirsty McWilliam profile photo

Wave Accounting

  • 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

Pricing Details

FreeAgent

General

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

Wave Accounting

General

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

Add comparison