What users are saying about
9 Ratings
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Top Rated
123 Ratings
9 Ratings
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Score 9.8 out of 100

Wave Accounting

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Top Rated
123 Ratings
<a href='https://www.trustradius.com/static/about-trustradius-scoring' target='_blank' rel='nofollow noopener noreferrer'>trScore algorithm: Learn more.</a>
Score 7.9 out of 100

Likelihood to Recommend

LivePlan

It's most appropriate when properly set up by someone with a deep knowledge of PNL/Forecasting. It's inappropriate for companies with poorly structured/inconsistently maintained financial statements.
Jason Ogden, President | 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

LivePlan
Wave Accounting
8.1
Pay calculation
LivePlan
Wave Accounting
8.6
Benefit plan administration
LivePlan
Wave Accounting
7.5
Direct deposit files
LivePlan
Wave Accounting
8.8
Salary revision and increment management
LivePlan
Wave Accounting
7.7
Reimbursement management
LivePlan
Wave Accounting
7.9

Customization

LivePlan
Wave Accounting
7.5
API for custom integration
LivePlan
Wave Accounting
7.7
Plug-ins
LivePlan
Wave Accounting
7.3

Security

LivePlan
Wave Accounting
8.5
Single sign-on capability
LivePlan
Wave Accounting
8.2
Role-based user permissions
LivePlan
Wave Accounting
8.8

Reporting & Analytics

LivePlan
Wave Accounting
8.3
Dashboards
LivePlan
Wave Accounting
8.3
Standard reports
LivePlan
Wave Accounting
8.5
Custom reports
LivePlan
Wave Accounting
8.0

General Ledger and Configurable Accounting

LivePlan
Wave Accounting
7.3
Accounts payable
LivePlan
Wave Accounting
7.3
Accounts receivable
LivePlan
Wave Accounting
8.0
Cash management
LivePlan
Wave Accounting
7.5
Bank reconciliation
LivePlan
Wave Accounting
7.7
Expense management
LivePlan
Wave Accounting
8.0
Time tracking
LivePlan
Wave Accounting
4.1
Fixed asset management
LivePlan
Wave Accounting
8.4
Multi-currency support
LivePlan
Wave Accounting
7.0
Multi-division support
LivePlan
Wave Accounting
7.1
Regulations compliance
LivePlan
Wave Accounting
6.6
Electronic tax filing
LivePlan
Wave Accounting
6.9
Self-service portal
LivePlan
Wave Accounting
6.8
Global Financial Support
LivePlan
Wave Accounting
9.0
Primary and Secondary Ledgers
LivePlan
Wave Accounting
9.0
Intercompany Accounting
LivePlan
Wave Accounting
8.1
Localizations
LivePlan
Wave Accounting
6.1
Journals and Reconciliations
LivePlan
Wave Accounting
6.9
Enterprise Accounting
LivePlan
Wave Accounting
5.8
Configurable Accounting
LivePlan
Wave Accounting
6.5
Centralized Rules Framework
LivePlan
Wave Accounting
8.2
Standardized Processes
LivePlan
Wave Accounting
9.2

Inventory Management

LivePlan
Wave Accounting
8.1
Inventory tracking
LivePlan
Wave Accounting
5.4
Automatic reordering
LivePlan
Wave Accounting
9.7
Location management
LivePlan
Wave Accounting
8.2
Manufacturing module
LivePlan
Wave Accounting
9.0

Order Management

LivePlan
Wave Accounting
7.7
Pricing
LivePlan
Wave Accounting
7.8
Order entry
LivePlan
Wave Accounting
8.0
Credit card processing
LivePlan
Wave Accounting
8.1
Cost of goods sold
LivePlan
Wave Accounting
7.5
Order Orchestration
LivePlan
Wave Accounting
6.6
End-to-end order visibility
LivePlan
Wave Accounting
8.8
Order exception Resolution
LivePlan
Wave Accounting
7.2

Pros

LivePlan

  • Great for startups that are still working on their idea.
  • Preparing for pitching and presenting.
  • People don't need business knowledge in order to write a professional business plan, everything is explained in details.
  • Simplicity.
Anonymous | 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

LivePlan

  • UX: It's beyond time for an overhaul, especially on mobile. It can make the app seem dated.
  • The accounting software integration has been prone to break and need to be re-setup, though that seems to have improved.
Jason Ogden, President | 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

LivePlan

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

LivePlan

No score
No answers yet
No answers on this topic

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

LivePlan

No score
No answers yet
No answers on this topic

Wave Accounting

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

Performance

LivePlan

No score
No answers yet
No answers on this topic

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 Rating

LivePlan

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

LivePlan

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

LivePlan

We did not really find a similar solution. All other solutions are focused on project management, [there's] nothing on generating a business plan. There is nothing on this level that helps people without any business experience write the plan. They have samples, instructions what to write where, how to prepare for pitching, and generate dashboards. Nothing in this market gets anywhere close to this solution.
Anonymous | 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

LivePlan

No score
No answers yet
No answers on this topic

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

LivePlan

  • For the price, it's worth it for 2 main reasons. Knowing what's going on throughout the year (relative to goals/prior periods), and seeing precisely where financial issues are off track.
Jason Ogden, President | 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

Screenshots

Wave Accounting

Pricing Details

LivePlan

General

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

LivePlan Editions & Modules

Edition
Pay as you go$201
6 Months$182
Annual$153
  1. per month
  2. Per month, billed every 6 months
  3. Per month, billed every 12 months
Additional Pricing Details

Wave Accounting

General

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

Wave Accounting Editions & Modules

Additional Pricing Details

Rating Summary

Likelihood to Recommend

LivePlan
10.0
Wave Accounting
7.8

Likelihood to Renew

LivePlan
Wave Accounting
7.8

Usability

LivePlan
Wave Accounting
5.3

Reliability and Availability

LivePlan
Wave Accounting
6.7

Performance

LivePlan
Wave Accounting
2.9

Support Rating

LivePlan
Wave Accounting
9.0

Online Training

LivePlan
Wave Accounting
4.7

Scalability

LivePlan
Wave Accounting
3.0

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