Likelihood to Recommend 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 Workday is well suited for managing employees throughout their full life cycle. It excels at housing employee data from the start of their time with the company through their departure. Workday is less suited to payroll functions, which could be more robust.
Read full review Pros 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 The flexibility of going beyond handling the accounts, where we can handle cash, assets, and accounting simultaneously for the customer. The single platform offers grants management where you can organize the lifecycle of the grants and synchronize it with any criteria of grant closing out scheme. I personally liked Project billing with the essence of evaluating project revenue and nice reporting templates that can be shared with the customer at any stage of the project while having the flexibility of auditing the reported cost. Read full review Cons 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 Some of the Workday updates last till like 10 in the morning which prevents employees to clock in and check their times and some cases their schedules Workday can work on opening documents quicker instead of taking couple of minutes or notifying the user when they are ready to download Read full review Likelihood to Renew Easy to use for clients with no accounting background and the price is right.
Read full review Usability 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 Workday is easy enough navigate, as long as it is properly set up. With that said, it can be put together in a modular fashion as well, allowing for a very high degree of flexibility in terms of design and process delegation. Finally, it makes consolidation achievable in times previously unthinkable.
Read full review Reliability and Availability WAVE is always available when we need it ! Peter
Read full review Performance 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 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 Our support team has been awesome. They are extremely knowledgeable and have been able to guide us through all of the challenges we have faced. Workday's community online is also extremely helpful with many trainings and help topics that can be reviewed at your convenience.
Read full review Online Training easy to use and east to train on ! Our WAVE clients enjoy the ease of use
Read full review Alternatives Considered 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 Workday Financial Management provides additional capabilities like real time financial analytics creation, easy tracking of multiple projects expense and management of all project financial data from one platform. CRM features are also impressive, billing tools and the online invoicing using Workday Financial Management and fraund detection is effective and even on distribution management this product is the master.
Read full review Scalability Once they out grow what is ability to move up to a more robust system?
Read full review Return on Investment 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 We were able to combine 4 different HR modules into one system. We reduced data breach incidents by 95% after shifting to Workday. One of our legacy softwares had vulnerabilities. The initial learning curve was higher than projected. We spent about a week to 10 days extra time deploying it, which affected the profit center that year. Read full review ScreenShots