GCPay simplifies the application for payment processes between general contractors and subcontractors by automating the payment application process. Create and exchange lien waivers, organize and collect compliance documents and improve subcontractor communication. Integrate directly with a construction ERP platform to save time and gets subs paid faster.
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Wave Accounting
Score7.3 out of 10
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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.
Their customer service is top notch and as a whole I don't like customer service departments, but they listen to you and help you with your problem, this includes telephone service and email. Their email and telephone number is listed on every page of their website, unlike other companies that try and hide this information. They will train your company to use the system and your users, and the system can be used on any internet capable device such as computer, tablet, or phone. Subcontractors can fill out the invoice by percentage complete and/or actual dollar amounts, and they can easily upload photos or other documentation needed to complete the invoice. If you need to have document(s) notarized you can use your own service or GCPay has a service that will notarize the document(s) for you for a fee. Finally, you control the level of reviewers you want for your company and situation. We have some items that have 2 reviewers and others that only have 1 reviewer. Overall, we are very happy with this system and number of hours we save every week verses having to manually enter all of our subcontractor invoices
A de minimis incentive was given to thank the reviewer for their time. The incentive was not used to bias or drive a particular response, nor was the incentive contingent on a positive endorsement. More Info
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.
A de minimis incentive was given to thank the reviewer for their time. The incentive was not used to bias or drive a particular response, nor was the incentive contingent on a positive endorsement. More Info
A de minimis incentive was given to thank the reviewer for their time. The incentive was not used to bias or drive a particular response, nor was the incentive contingent on a positive endorsement. More Info
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.
When waivers have been completed by the subcontractor, but have not been reviewed by the GC yet, I wish the OW tag would stay up until the waiver was either reviewed and approved or rejected. (OW stands for outstanding waiver)
That the GC had the option to update the amount paid to the supplier. Right now if the unconditional lien waiver is received and is a different amount the only way to update this is sending GCPay an email. We don't do this and would love this as an option, so the tier vendor spreadsheet was accurate.
A de minimis incentive was given to thank the reviewer for their time. The incentive was not used to bias or drive a particular response, nor was the incentive contingent on a positive endorsement. More Info
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.
A de minimis incentive was given to thank the reviewer for their time. The incentive was not used to bias or drive a particular response, nor was the incentive contingent on a positive endorsement. More Info
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
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.
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
A de minimis incentive was given to thank the reviewer for their time. The incentive was not used to bias or drive a particular response, nor was the incentive contingent on a positive endorsement. More Info
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
A de minimis incentive was given to thank the reviewer for their time. The incentive was not used to bias or drive a particular response, nor was the incentive contingent on a positive endorsement. More Info
A de minimis incentive was given to thank the reviewer for their time. The incentive was not used to bias or drive a particular response, nor was the incentive contingent on a positive endorsement. More Info
A de minimis incentive was given to thank the reviewer for their time. The incentive was not used to bias or drive a particular response, nor was the incentive contingent on a positive endorsement. More Info
