What users are saying about
28 Ratings
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Top Rated
122 Ratings
28 Ratings
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Score 3.8 out of 100

Wave Accounting

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Top Rated
122 Ratings
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Score 8 out of 100

Likelihood to Recommend

MYOB

For a smaller business who isn't interested in having more than one user I think MYOB can serve them well. But if they want multiple users or are using virtual assistants there are better cloud based apps that are much more affordable and have far greater enhancements as well as integrations
Stephen Lalla | 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

MYOB
1.4
Wave Accounting
8.1
Pay calculation
MYOB
2.0
Wave Accounting
8.6
Benefit plan administration
MYOB
1.0
Wave Accounting
7.5
Direct deposit files
MYOB
1.0
Wave Accounting
8.8
Salary revision and increment management
MYOB
1.0
Wave Accounting
7.7
Reimbursement management
MYOB
2.0
Wave Accounting
7.9

Customization

MYOB
4.5
Wave Accounting
7.5
API for custom integration
MYOB
4.0
Wave Accounting
7.7
Plug-ins
MYOB
5.0
Wave Accounting
7.3

Security

MYOB
6.1
Wave Accounting
8.5
Single sign-on capability
MYOB
6.4
Wave Accounting
8.3
Role-based user permissions
MYOB
5.8
Wave Accounting
8.8

Reporting & Analytics

MYOB
5.6
Wave Accounting
8.3
Dashboards
MYOB
3.3
Wave Accounting
8.3
Standard reports
MYOB
7.1
Wave Accounting
8.5
Custom reports
MYOB
6.5
Wave Accounting
8.1

General Ledger and Configurable Accounting

MYOB
4.5
Wave Accounting
7.4
Accounts payable
MYOB
5.4
Wave Accounting
7.3
Accounts receivable
MYOB
6.4
Wave Accounting
8.1
Cash management
MYOB
5.4
Wave Accounting
7.6
Bank reconciliation
MYOB
7.0
Wave Accounting
7.7
Expense management
MYOB
7.4
Wave Accounting
8.0
Time tracking
MYOB
1.0
Wave Accounting
4.3
Fixed asset management
MYOB
5.5
Wave Accounting
8.4
Multi-currency support
MYOB
1.0
Wave Accounting
7.1
Multi-division support
MYOB
1.0
Wave Accounting
7.1
Regulations compliance
MYOB
5.0
Wave Accounting
6.6
Electronic tax filing
MYOB
5.0
Wave Accounting
6.9
Self-service portal
MYOB
4.0
Wave Accounting
6.9
Global Financial Support
MYOB
Wave Accounting
9.0
Primary and Secondary Ledgers
MYOB
Wave Accounting
9.0
Intercompany Accounting
MYOB
Wave Accounting
8.1
Localizations
MYOB
Wave Accounting
6.3
Journals and Reconciliations
MYOB
Wave Accounting
6.9
Enterprise Accounting
MYOB
Wave Accounting
5.9
Configurable Accounting
MYOB
Wave Accounting
6.5
Centralized Rules Framework
MYOB
Wave Accounting
8.2
Standardized Processes
MYOB
Wave Accounting
9.1

Inventory Management

MYOB
1.5
Wave Accounting
8.1
Inventory tracking
MYOB
3.0
Wave Accounting
5.5
Automatic reordering
MYOB
1.0
Wave Accounting
9.7
Location management
MYOB
1.0
Wave Accounting
8.2
Manufacturing module
MYOB
1.0
Wave Accounting
9.0

Order Management

MYOB
4.9
Wave Accounting
7.7
Pricing
MYOB
6.1
Wave Accounting
7.8
Order entry
MYOB
6.5
Wave Accounting
8.0
Credit card processing
MYOB
1.0
Wave Accounting
8.1
Cost of goods sold
MYOB
6.0
Wave Accounting
7.5
Order Orchestration
MYOB
Wave Accounting
6.7
End-to-end order visibility
MYOB
Wave Accounting
8.8
Order exception Resolution
MYOB
Wave Accounting
7.2

Pros

MYOB

  • Invoices
  • Purchase Orders
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

MYOB

  • Allows the client to manipulate dates when that can screw up their books
  • constantly freezes which causes the file to be corrupt
  • force balances the balance sheet
Kati Hesley | 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

MYOB

MYOB 9.5
Based on 2 answers
We have been looking in to other cloud based accounting options.
Anonymous | TrustRadius Reviewer

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

MYOB

MYOB 10.0
Based on 1 answer
It is easy to use - I just don't agree with restrictions and functionality
Kati Hesley | 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

MYOB

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

MYOB

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

MYOB

MYOB 1.0
Based on 1 answer
They aren't willing to help at all unless you pay
Kati Hesley | TrustRadius Reviewer

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

MYOB

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

MYOB

Not even close. Though I will say MYOB had a budget module where Zoho Books doesn't which is one thing severely lacking in Zoho Books. On the other hand, Zoho Books allows for payment processing integration without trying to get a cut from the process whereas MYOB allowed for payment processing but you had to go through their service only and it wasn't cheap.
Stephen Lalla | 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

MYOB

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

MYOB

  • MYOB dropped software updates for Apple IOS
  • Lack of software updates / support had a MAJOR NEGATIVE IMPACT
Anonymous | 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

MYOB

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

MYOB
1.0
Wave Accounting
7.8

Likelihood to Renew

MYOB
9.5
Wave Accounting
7.8

Usability

MYOB
10.0
Wave Accounting
5.3

Reliability and Availability

MYOB
Wave Accounting
6.7

Performance

MYOB
Wave Accounting
2.9

Support Rating

MYOB
1.0
Wave Accounting
9.0

Online Training

MYOB
Wave Accounting
4.7

Implementation Rating

MYOB
5.0
Wave Accounting

Scalability

MYOB
Wave Accounting
3.0

Add comparison