What users are saying about
192 Ratings
162 Ratings
192 Ratings
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Score 8.2 out of 100
162 Ratings
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Score 7 out of 100

Feature Set Ratings

  • FreshBooks ranks higher in 3 feature sets: Security, General Ledger and Configurable Accounting, Order Management
  • Wave Accounting ranks higher in 2 feature sets: Customization, Reporting & Analytics

Customization

6.1

FreshBooks

61%
8.5

Wave Accounting

85%
Wave Accounting ranks higher in 2/2 features

API for custom integration

6.0
60%
26 Ratings
9.9
99%
9 Ratings

Plug-ins

6.3
63%
22 Ratings
7.0
70%
11 Ratings

Security

8.7

FreshBooks

87%
7.4

Wave Accounting

74%
FreshBooks ranks higher in 2/2 features

Single sign-on capability

10.0
100%
1 Rating
8.2
82%
30 Ratings

Role-based user permissions

7.4
74%
37 Ratings
6.5
65%
34 Ratings

Reporting & Analytics

6.6

FreshBooks

66%
6.7

Wave Accounting

67%
FreshBooks ranks higher in 2/3 features

Dashboards

7.8
78%
50 Ratings
6.3
63%
68 Ratings

Standard reports

7.1
71%
48 Ratings
6.4
64%
67 Ratings

Custom reports

4.8
48%
2 Ratings
7.5
75%
34 Ratings

General Ledger and Configurable Accounting

7.2

FreshBooks

72%
5.9

Wave Accounting

59%
Wave Accounting ranks higher in 16/21 features

Accounts payable

5.3
53%
35 Ratings
6.2
62%
56 Ratings

Accounts receivable

7.4
74%
49 Ratings
6.5
65%
67 Ratings

Cash management

7.0
70%
3 Ratings
6.2
62%
59 Ratings

Bank reconciliation

7.0
70%
2 Ratings
6.2
62%
63 Ratings

Expense management

7.3
73%
45 Ratings
7.3
73%
61 Ratings

Time tracking

8.9
89%
38 Ratings
6.3
63%
11 Ratings

Multi-currency support

7.0
70%
1 Rating
10.0
100%
19 Ratings

Regulations compliance

6.0
60%
17 Ratings
6.8
68%
15 Ratings

Self-service portal

9.1
91%
3 Ratings
2.7
27%
39 Ratings

Fixed asset management

N/A
0 Ratings
6.2
62%
12 Ratings

Multi-division support

N/A
0 Ratings
7.1
71%
9 Ratings

Electronic tax filing

N/A
0 Ratings
5.9
59%
14 Ratings

Global Financial Support

N/A
0 Ratings
9.0
90%
2 Ratings

Primary and Secondary Ledgers

N/A
0 Ratings
7.0
70%
4 Ratings

Intercompany Accounting

N/A
0 Ratings
4.0
40%
5 Ratings

Localizations

N/A
0 Ratings
5.2
52%
3 Ratings

Journals and Reconciliations

N/A
0 Ratings
5.6
56%
28 Ratings

Enterprise Accounting

N/A
0 Ratings
4.0
40%
7 Ratings

Configurable Accounting

N/A
0 Ratings
5.5
55%
16 Ratings

Centralized Rules Framework

N/A
0 Ratings
1.0
10%
3 Ratings

Standardized Processes

N/A
0 Ratings
4.3
43%
17 Ratings

Order Management

7.8

FreshBooks

78%
7.7

Wave Accounting

77%
Wave Accounting ranks higher in 5/7 features

Pricing

7.1
71%
33 Ratings
9.8
98%
26 Ratings

Order entry

8.0
80%
33 Ratings
9.9
99%
18 Ratings

Credit card processing

6.0
60%
34 Ratings
3.8
38%
45 Ratings

Cost of goods sold

10.0
100%
1 Rating
9.3
93%
33 Ratings

Order Orchestration

N/A
0 Ratings
5.8
58%
5 Ratings

End-to-end order visibility

N/A
0 Ratings
8.2
82%
4 Ratings

Order exception Resolution

N/A
0 Ratings
7.0
70%
2 Ratings

Payroll Management

FreshBooks

Feature Set Not Supported
N/A
6.3

Wave Accounting

63%
Wave Accounting ranks higher in 5/5 features

Pay calculation

N/A
0 Ratings
7.1
71%
23 Ratings

Benefit plan administration

N/A
0 Ratings
7.5
75%
4 Ratings

Direct deposit files

N/A
0 Ratings
1.8
18%
20 Ratings

Salary revision and increment management

N/A
0 Ratings
7.7
77%
12 Ratings

Reimbursement management

N/A
0 Ratings
7.4
74%
8 Ratings

Inventory Management

FreshBooks

Feature Set Not Supported
N/A
8.1

Wave Accounting

81%
Wave Accounting ranks higher in 4/4 features

Inventory tracking

N/A
0 Ratings
5.6
56%
8 Ratings

Automatic reordering

N/A
0 Ratings
9.9
99%
5 Ratings

Location management

N/A
0 Ratings
8.1
81%
2 Ratings

Manufacturing module

N/A
0 Ratings
9.0
90%
1 Rating

Attribute Ratings

  • FreshBooks is rated higher in 4 areas: Likelihood to Recommend, Availability, Performance, Support Rating
  • Wave Accounting is rated higher in 2 areas: Likelihood to Renew, Usability

Likelihood to Recommend

6.3

FreshBooks

63%
67 Ratings
5.3

Wave Accounting

53%
77 Ratings

Likelihood to Renew

7.6

FreshBooks

76%
18 Ratings
7.8

Wave Accounting

78%
3 Ratings

Usability

6.5

FreshBooks

65%
13 Ratings
6.7

Wave Accounting

67%
14 Ratings

Availability

10.0

FreshBooks

100%
4 Ratings
6.3

Wave Accounting

63%
8 Ratings

Performance

8.0

FreshBooks

80%
2 Ratings
2.9

Wave Accounting

29%
4 Ratings

Support Rating

7.5

FreshBooks

75%
13 Ratings
4.3

Wave Accounting

43%
12 Ratings

Online Training

FreshBooks

N/A
0 Ratings
4.7

Wave Accounting

47%
3 Ratings

Implementation Rating

10.0

FreshBooks

100%
2 Ratings

Wave Accounting

N/A
0 Ratings

Product Scalability

FreshBooks

N/A
0 Ratings
3.0

Wave Accounting

30%
2 Ratings

Likelihood to Recommend

FreshBooks

FreshBooks is the perfect tool for businesses who have hundreds of clients and customers whom they invoice regularly. It removes the need to manually send invoices to clients and customers, by streamlining inputted information to create an automated invoicing system which keeps clients and customers up to date with their bills. It is also a great tool for managing expenses, especially for companies with different teams working on varying projects, ensuring these teams do not exceed the budget ceiling.
Read full review

Wave

Wave Accounting was used for a small practice without a lot of the accounting considerations a large company would have. For the price, you really can't beat what Wave offers out of the box. All of the basic tools for things like invoicing and expenses are all easy to use. End of year accounting is easy with exports of data.
Read full review

Pros

FreshBooks

  • FreshBooks is pretty intuitive to use. I did have some questions when I first started using the system, but it wasn't a long learning curve.
  • FreshBooks provides more capability than other billing applications such as PaySimple or BlinkSale. FreshBooks does provide an easy invoicing function. It's easy to create invoices that can be sent via email or snail mail to one or more individuals (for example, the decision-maker and the accounting dept). Clients can pay online or send a check and then I note that the payment has been received. If paid by credit card, the system automatically marks the invoice paid. Your business accounts such as bank accounts can be linked to FreshBooks. Then, the system can automatically draw in expenses and will create simple P&amp;L reports, overdue invoices, client history, etc. If you don't have inventory and complex payroll, etc. FreshBooks provides just the right level of capability to make financial tracking simple.
  • FreshBooks integrates with a number of credit card companies. I use Stripe, which has fees similar to Paypal, but much more reliable processing. I can accept all credit cards, including American Express, for a reasonable fee.
Read full review

Wave

  • Reconciliation is very difficult with multiple Wave transactions that need to be deleted or merged before it can be matched to a bank transaction.
  • Payroll worked fine for us but took several days to get it set up. We have switched to another bookkeeping system and another payroll system. Canceling with Wave took several days and they charge $6 for something even though the month was paid for in advance.
  • Credit card processing is nice and worked fine for us.
Read full review

Cons

FreshBooks

  • I can brand invoices with my business logo, but I might like to change colours of the invoices themselves to match the rest of my business documents. That isn't a major point at all, but it's something that I'd like to see.
  • Freshbooks doesn't remember the categories that similar expenses were previously assigned to. It would be nice if Freshbooks would suggest a category for an already saved vendor, to ensure the consistency of expense reporting.
  • The home page of a Freshbooks account has a great graph display of expenses and income, but it only shows the last 6 months. This is still very useful, but I'd like to be able to see this kind of graph for different periods of time.
Read full review

Wave

  • I know that credit card processing is a way for Wave to make money, but I really wish they offered ACH payment on Invoices.
  • I do cash-based accounting, which means I have to make little journal entries at the start and end of each year to get my books to balance because Wave wants to do everything differently. This should just be a setting to flip, whether you want cash-based or accrual-based.
  • They use Yodlee for bank connection, which doesn't play nice with 2FA. Pretty much every time I log in I have to re-enter credentials, get a code sent to me, reauthenticate, and know that I'm going to have to do it again next week. Not really on Wave, but wish they could get it together nonetheless.
Read full review

Pricing Details

FreshBooks

Starting Price

$0

Editions & Modules

FreshBooks editions and modules pricing
EditionModules
Lite$4.501
Plus$7.502
Premium$153
SelectCustom Pricing4

Offerings

Free Trial
Free/Freemium Version
Premium Consulting/Integration Services

Entry-level set up fee?

No setup fee

Additional Details

Wave Accounting

Starting Price

Editions & Modules

Wave Accounting editions and modules pricing
EditionModules

Footnotes

    Offerings

    Free Trial
    Free/Freemium Version
    Premium Consulting/Integration Services

    Entry-level set up fee?

    No setup fee

    Additional Details

    Likelihood to Renew

    FreshBooks

    At the current needs of our business, FreshBooks suits us perfectly - it allows online access by our accountant to the system for GST purposes, easy input of expenses and tracking of Profit and Loss statements. FreshBooks customer service is great as well - very understanding and accommodating.
    Read full review

    Wave

    Easy to use for clients with no accounting background and the price is right.
    Read full review

    Usability

    FreshBooks

    FreshBooks is very easy to use even for novices. If you're looking for an online accounting software that is full of features, has great aesthetics and is user-friendly, then this is definitely the software for you. I've been using it for several years now and despite being tempted to switch by other vendors, I like the feel of FreshBooks and it's mobile features.
    Read full review

    Wave

    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
    Read full review

    Reliability and Availability

    FreshBooks

    FreshBooks is easy to use and always works!
    Read full review

    Wave

    WAVE is always available when we need it ! Peter
    Read full review

    Performance

    FreshBooks

    No answers on this topic

    Wave

    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.
    Read full review

    Support Rating

    FreshBooks

    I think the support level for FreshBooks is on par with a 6 because the folks behind this application do a fairly good job at providing support for their customer base. I still don't think they are at an elite level when it comes to supporting but are getting there although too slow in my opinion.
    Read full review

    Wave

    I never had to call Wave Support as we barely experienced any support-related problems on our side. However, I do know a few people that complained about Wave support. It would be nice as well, though if they could have more in your face tutorials for new users or how-to videos should we struggle to do something
    Read full review

    Online Training

    FreshBooks

    No answers on this topic

    Wave

    easy to use and east to train on ! Our WAVE clients enjoy the ease of use
    Read full review

    Implementation Rating

    FreshBooks

    I haven't changed my mind since my first evaluation. Freshbooks is still meeting my needs, easy to use, etc.
    Read full review

    Wave

    No answers on this topic

    Alternatives Considered

    FreshBooks

    We do not consider other options since our client wants the implementation of this platform in order to use it in the two countries where it has operations.

    At the moment, full integration was not possible and we still share the information with a Mexican system to complete everything necessary.
    Read full review

    Wave

    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
    Read full review

    Scalability

    FreshBooks

    No answers on this topic

    Wave

    Once they out grow what is ability to move up to a more robust system?
    Read full review

    Return on Investment

    FreshBooks

    • Freshbooks saves me time compared to when I managed to invoice without an app.
    • Freshbooks make keeping my invoices organized which saves me time.
    • Freshbooks helps me to know who is late on payments. When I was doing this by hand, some invoices would get lost in the clutter and I would not find out I haven't been paid until much later.
    Read full review

    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.
    Read full review

    Screenshots

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