Traqq vs. Wave Accounting

Traqq is a great system when you are in the field of education. In my experience, it has saved me countless hours of figuring out how to remember the timezone my employees and students are located in. I used to use a written spreadsheet of each employee's timezone and one of those random timezone calculators. Being able to modify Traqq based on my employees' timezone, my timezone, and our company's timezone (the technical "working hours") has been a game-changer.

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.

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• Gave me a detailed report of my daily activities, even hours of productivity.
• My clients were not left behind every step of the way in my project. They had access to my activities and knew the periods I was inactive and even the apps I visited (although they blurred the screen, my clients were aware along the line, I visited a couple of applications) I loved that Traqq is conscious of its user's privacy. This is something you don't see in all Tracking apps.
• Helps me track my hours effectively. This way, I had no issues on paydays because I was receiving the exact money for the exact time I worked. This is the big deal for me because no one like to work really hard and be underpaid, and neither does anyone want to overpay a lazy freelancer. I really love this about Traqq.

• 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.

• Lack of a clear option for dark mode, which would be useful to reduce eye strain as the app is predominantly white.
• No options to increase or decrease the level of detail in reports, which would be nice to change depending on what kind of report is being sent.
• Whilst the timeline is clear, it would be nice if it was a bit bigger, and perhaps if it highlighted key parts of the day.

• 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.

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

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 is always available when we need it ! Peter

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

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

So I have used Jibble and Time Doctor for time tracking, but none of these would reflect the reasons for low/high performance of the employees as Jibble is just a time clock, and the Time Doctor won't yet make reports and send them to superiors right away. Traqq solves it. Honestly, I have never come across any software competing with functionalities like Traqq yet.

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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

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

• I've been able to get things done faster with Traqq. One of my clients made a comment a while back(I asked for her permission before posting this). She said, "I loved how I don't get to pay freelancers for doing nothing, now I pay employees according to the quality of work I receive". We both laughed about it though, but I believe that's a positive impact on her.
• I've been able to write more, knowing that my clients can see my major moves. My main aim is to impress my employers to get good feedback in return and Traqq helps me greatly in that area.

• 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.

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Independently Invited by TrustRadius

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