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https://dudodiprj2sv7.cloudfront.net/product-logos/4F/7m/TFABTGMTZHT4.PNGWave Hello to Your New Accounting Solution - WaveWe use Wave for our whole organization. We run various reports from within Wave to track and monitor performance for the firm. With Wave we can easily generate a professional sales invoice for our small company. The reports from the software give us a way to quickly analyze trends both short term and long term.,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.,One area of improvement for Wave would be combining the various mobile applications into one app. Another room for improvement would be on the dashboard level. It would be great if they could use more bar graphs and get away from pie charts for things like expenses. Some of the other areas from improvement have been addressed by recent updates so I am excited to see what else Wave brings out.,10,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.,QuickBooks Online,Microsoft Dynamics NAVWave is a great small business solutionAs a business owner, I use Wave to track and categorize expenses, pay vendors and freelancers, and send and categorize invoices. I provide a separate logon for my accountant so that they can pull information during tax time. Wave eliminates any need for manual tracking since it connects directly with my business credit card and checking account. It also provides a helpful dashboard that tracks earnings and expenses. You can pull financial reports easily, as well.,tracks and categorizes financial transactions with a direct link to bank accounts and credit cards - helpful since there is no manual input outside of verifying that a category is correct easily creates invoices without the need to input customer information more than once. you can also send directly from the platform and toggle the option to accept credit card and ACH payments creates financial reports with ease,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.,9,eliminated potential need for an external bookeeper eliminated need for external income / expense tracking allowed me to keep all invoices and payments in one place,HubSpot, UberConference, WordPressAll You Need Accounting For Start-up BusinessesWe utilize Wave across the company to manage expenses, invoicing, credit card processing, and 1099 employee payroll tracking. Having one application to handle all these transaction makes the accounting side of the business far less of a headache and with the recent updates it's even easier to navigate.,Crisp, clean invoices, and I particularly like the ability to customize the invoice to fit our needs. Custom reporting tools so we can slice & dice our data as needed. Overall interface is incredibly easy to navigate through and you don't have to be a professional accountant or book keeper to make sense of everything. Offering a recurring payment option, credit card processing, and ACH payment options with customer online payment options as well has made our life much easier with the repeat accounts we manage. Adding customers profiles is simple and can be done right in the new invoice tool Setting up vendors is quick and easy to associate to various payable/receivable accounts is simple.,Not too much to complain about with Wave although I do wish they kept an audit trail of all invoice reminders sent, changes in the invoice, and have the ability to pull reports with this data. This functionality would be great to review clients as a whole to determine profitability and time spent with these clients. 9% processing fees for all cards which is a bit higher than some of the competitors like Blue Pay. The pro to this though is there's no monthly commitment or monthly service fees.,10,Being as it's free software to use I'd say implementing wave has been a positive return for the business. Providing us the ability to process credit cards over the phone has increased our turn time to receive payments thus saving time overall which equates to $1,000's a year,Xero, QuickBooks Online, Zoho Books and Sage Intacct,HelloSign, Leadpages, Drip from Leadpages, Google Ads (formerly AdWords), Google Voice, Salesmate, QQCatalyst,Yes,Price Product Features Product Usability,I wouldn't change a thing, after researching several systems and then conducting a trial on each system there's not much to change.,No,9,Noneed a free ride for invoicing & accounting? catch this Wave!I used Accounting by Wave to invoice my clients, send payment reminders, send estimates, track my business expenses, and see profit & loss when it was time to do taxes. As a solo entrepreneur, it kept my business accounting separate from my personal, and I loved that it was a free service that looked professional when emailing clients.,Good design / branding – looks modern & professional & trustworthy for my clients (that's coming from a picky 'millennial'!) Enjoyable & well-designed interface Great options for their free product,Really no complaints!,10,It helps me keep past due invoices organized, and easily send reminders to clients who haven't paid yet.,Google Drive, Acuity Scheduling, AsanaWave is the best accounting, invoicing, and payment software out there!I use Wave to send invoices automatically and run payments too. I'm a small business owner and I want a very easy to use platform that is very economical. The invoices are very clean and professional. I can also attach reports to each invoice. I can also push a reminder if they have not paid without doing it myself :) I switched from QuickBooks online and also Bill.com.,Interface, VERY easy to use Clean and beautiful invoices (email and print) Run payments,They have a paid feature to get help, definitely worth it. But sometimes, calling to get a quick answer would be nice. Chatbot or chat person to get help when it is late at night :) Change the theme colors to match company colors.,10,It has cut my costs down; more $$ in my pocket. I spend less time invoicing clients. Saves me time with auto billing.,QuickBooks Online,Constant Contact, Bitrix24, HubSpot CRM, SEMRush, Ahrefs Site Explorer, Moz, KWFinder, Rank Ranger
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Accounting by Wave
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Accounting by Wave Reviews

Accounting by Wave
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Lukas Sundahl, MBA profile photo
November 01, 2018

Accounting by Wave Review: "Wave Hello to Your New Accounting Solution - Wave"

Score 10 out of 10
Vetted Review
Verified User
Review Source
We use Wave for our whole organization. We run various reports from within Wave to track and monitor performance for the firm. With Wave we can easily generate a professional sales invoice for our small company. The reports from the software give us a way to quickly analyze trends both short term and long term.
  • 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.
  • One area of improvement for Wave would be combining the various mobile applications into one app.
  • Another room for improvement would be on the dashboard level. It would be great if they could use more bar graphs and get away from pie charts for things like expenses.
  • Some of the other areas from improvement have been addressed by recent updates so I am excited to see what else Wave brings out.
Wave is well suited for small businesses looking to have an accounting service that won't hinder profitability. Wave is a great service for a small business owner just starting out and is flexible enough to meet demands of larger businesses. Wave even offers a paid payroll service if needed for any business owner. The ease of use with Wave makes it perfect for non-accountants, and for accountants they have tools available that they are used to seeing with other accounting software.
Read Lukas Sundahl, MBA's full review
Kristy Nittskoff profile photo
November 01, 2018

Accounting by Wave Review: "Wave is a great small business solution"

Score 9 out of 10
Vetted Review
Verified User
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As a business owner, I use Wave to track and categorize expenses, pay vendors and freelancers, and send and categorize invoices. I provide a separate logon for my accountant so that they can pull information during tax time. Wave eliminates any need for manual tracking since it connects directly with my business credit card and checking account. It also provides a helpful dashboard that tracks earnings and expenses. You can pull financial reports easily, as well.
  • tracks and categorizes financial transactions with a direct link to bank accounts and credit cards - helpful since there is no manual input outside of verifying that a category is correct
  • easily creates invoices without the need to input customer information more than once. you can also send directly from the platform and toggle the option to accept credit card and ACH payments
  • creates financial reports with ease
  • 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.
Wave is great for a small consulting shop like mine. I'm sure that there are more sophisticated systems out there but I have a limited number of expenses and invoices each year - for me, Wave meets my needs. They've made significant improvements to their dashboard over the past three years and have not changed the cost (FREE for my instance).
Read Kristy Nittskoff's full review
Matthew Gehrman profile photo
October 29, 2018

Accounting by Wave Review: "All You Need Accounting For Start-up Businesses"

Score 10 out of 10
Vetted Review
Verified User
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We utilize Wave across the company to manage expenses, invoicing, credit card processing, and 1099 employee payroll tracking. Having one application to handle all these transaction makes the accounting side of the business far less of a headache and with the recent updates it's even easier to navigate.
  • Crisp, clean invoices, and I particularly like the ability to customize the invoice to fit our needs.
  • Custom reporting tools so we can slice & dice our data as needed.
  • Overall interface is incredibly easy to navigate through and you don't have to be a professional accountant or book keeper to make sense of everything.
  • Offering a recurring payment option, credit card processing, and ACH payment options with customer online payment options as well has made our life much easier with the repeat accounts we manage.
  • Adding customers profiles is simple and can be done right in the new invoice tool
  • Setting up vendors is quick and easy to associate to various payable/receivable accounts is simple.
  • Not too much to complain about with Wave although I do wish they kept an audit trail of all invoice reminders sent, changes in the invoice, and have the ability to pull reports with this data. This functionality would be great to review clients as a whole to determine profitability and time spent with these clients.
  • 9% processing fees for all cards which is a bit higher than some of the competitors like Blue Pay. The pro to this though is there's no monthly commitment or monthly service fees.
Wave is an excellent option for small start-up businesses since it's a free application, comparable to others like Xero & Quikbooks, and integrates with most major banks. Where I would see considering to move platforms is when you have more than 10 employees and multiple accounts to balance which at that point may be a good time to consult a book keeper and consider switching software if needed. Side note Wave offers a list of local bookkeeping professionals that work with Wave software in your area so you wouldn't have to change systems.
Read Matthew Gehrman's full review
Lindsay Frey profile photo
November 07, 2018

Accounting by Wave Review: "need a free ride for invoicing & accounting? catch this Wave!"

Score 10 out of 10
Vetted Review
Verified User
Review Source
I used Accounting by Wave to invoice my clients, send payment reminders, send estimates, track my business expenses, and see profit & loss when it was time to do taxes. As a solo entrepreneur, it kept my business accounting separate from my personal, and I loved that it was a free service that looked professional when emailing clients.
  • Good design / branding – looks modern & professional & trustworthy for my clients (that's coming from a picky 'millennial'!)
  • Enjoyable & well-designed interface
  • Great options for their free product
  • Really no complaints!
It's great if what you need is simple, well-designed invoicing and bookkeeping. If you want to integrate more features (like CRM, proposals, questionnaires, lead management, etc) into the same app, go with something else.
Read Lindsay Frey's full review
Sanjit Mandal profile photo
November 01, 2018

Accounting by Wave Review: "Wave is the best accounting, invoicing, and payment software out there!"

Score 10 out of 10
Vetted Review
Verified User
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I use Wave to send invoices automatically and run payments too. I'm a small business owner and I want a very easy to use platform that is very economical. The invoices are very clean and professional. I can also attach reports to each invoice. I can also push a reminder if they have not paid without doing it myself :)

I switched from QuickBooks Online and also Bill.com.
  • Interface, VERY easy to use
  • Clean and beautiful invoices (email and print)
  • Run payments
  • They have a paid feature to get help, definitely worth it. But sometimes, calling to get a quick answer would be nice.
  • Chatbot or chat person to get help when it is late at night :)
  • Change the theme colors to match company colors.
I absolutely would! I always do to my freelance friends, attorneys, designers, and also personal trainers. This is for a person or company who needs accounting, invoicing, payroll, and can accept payments. You can scan your receipts. You can also send quotes through it. You can find an accountant and let them manage your financials for a great value.
Read Sanjit Mandal's full review
Chris Hecox profile photo
July 05, 2018

Accounting by Wave: "Review: Wave"

Score 10 out of 10
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Verified User
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Wave is responsible for handling my company's bookkeeping, tracking estimates and invoices, and budgeting. Wave handles essentially everything related to finances for my business.
  • Wave can create invoices, send invoices to clients, and notify me once an invoice has been received. It also tracks when invoices are due and allows me to check paid invoices off my list. It's extremely helpful when my previous methods of tracking invoices was updating an excel sheet. A simple feature included with invoicing is the software keeping track of what number invoice I'm currently on, so it's quick to reference different invoices.
  • Bookkeeping with Wave is fairly intuitive. You can connect any of your desired bank accounts to Wave and import your list of transactions. Wave keeps a database of clients, and though it means creating entries for each client (specifically recurring ones) you can tag clients onto income in the bank account. You can also create specific line items for budgets and tag transactions under whatever budget item you wish. There are many ways to use bookkeeping and budgeting with Wave and I've been very pleased to keep everything categorized under one software rather than using multiple applications.
  • Other features I've not used extensively yet that Wave includes are: estimates, cash flow reports, payroll, tax charts, etc. I'll be using estimates and reporting later this year, but I'm still impressed with how much versatility the software allows for.
  • The only disappointment I've had with using Wave so far is how delayed transactions can be with the bank connection. This is likely because of how slow the turnaround can be for check deposits and other transactions to register in the bank (24 hours or more) but it means I need to reference my bank account's website instead of Wave if I have checks arriving on payroll day.
Wave seems like an excellent choice for managing bookkeeping and invoices for a small business like my own. I imagine as a business outgrows Wave, you will need to hire a bookkeeper and other financial planners anyway. For me, this would be quite a ways down the road, but for basic tasks, Wave has sped up my financial workflow significantly. I'm so impressed by what Wave accomplishes. It's everything I need in a financial software. Very impressed.
Read Chris Hecox's full review
Carl Grivakis profile photo
June 20, 2018

Accounting by Wave: "Easy Integrated and Low Cost Accounting Solution for Small and Mid Size Businesses"

Score 8 out of 10
Vetted Review
Verified User
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Accounting by Wave has been an integral element of my business since I've been a part-time sole prop and stayed with me as a tool of choice as I moved into an S-Corporation. I use Accounting for invoicing, bookkeeping, receipt and expense management and to have a better idea of my cash flow. It pulls reports directly in from my bank and helps me assign expenses easily and resolve my books each month.
  • Wave is a wonderful integrated solution offering invoicing, bookkeeping, and cash flow analysis along with bank integration that auto updates.
  • Wave is a payment solution provider with an industry standard rate of 2.9ish% for credit card transactions and provides a good analysis for me as to when I typically get paid.
  • Wave pulls common data for me in building a customized branded invoice, allowing me to make the invoice process faster by adding repeat customers and listing my graphic design services.
  • Wave is owned by ADP and integrates well, but I'm less of a fan of ADP these days, so I'll need to work out how it'll work out with alternate payroll providers.
  • The app for Wave has some great functions, but the website has much more complete integration, where you can 'skip' sending an invoice if you're just using it to track invoices for retainer-based clients.
  • The receipt tracking app is separate from the accounting app, and could possibly be integrated better.
Wave is a great means to launch a business and run a low cost (free) accounting solution as you startup the gears on your own business. Wave is scalable and could work well with larger companies as you can provide a variety of access levels, and even give your accountant eyes into your books. I like that they also offer payroll and bookkeeping services at a cost, but I haven't used them yet.

Wave's invoicing is easy to follow and offers great payment options for my client.
Read Carl Grivakis's full review
Nick Throlson profile photo
November 07, 2018

Accounting by Wave Review: "Account By Wave Saves you time & resources"

Score 8 out of 10
Vetted Review
Verified User
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Accounting by Wave makes life as a web designer easier. I'm able to see all purchases for tax purposes. It makes it easy to see where the company stands and allows self-employed and small businesses to manage all their accounting with ease. This software is a no-brainer for anyone who uses Wave.
  • Professional
  • Quality
  • Simple
  • Organized
  • Recommendations
  • Sync with more banks
Accounting by Wave saves valuable time reconciling purchases. It makes everything ready for taxes and shows where the company is, for example, when applying for a loan. It allows the bank to see finances and projections of how much the company is worth.
Read Nick Throlson's full review
Ellen McDowell profile photo
June 20, 2018

Accounting by Wave Review: "Need a Low Cost Accounting Program for your small Business? Try Wave."

Score 10 out of 10
Vetted Review
Verified User
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I use Wave to keep track of invoices and payments. It allows me to create recurring invoices and took my day of accounting on the final day of the month from the full day down to under an hour.
  • Recurring Invoices
  • Online Payments
  • Manual Payments
  • Simple reporting
  • Cost of sales as related to products unclear
  • Bringing in payments from other providers and applying the fees associated with those is not automatic
If you are looking for an inexpensive, simple accounting software then Wave is for you. There are no monthly fees beyond the merchant fees for those clients paying online. It makes getting paid much faster. I really like how much less time I am spending each month creating and sending invoices. The estimates are easy to create and easy to convert to invoices when accepted.
Read Ellen McDowell's full review
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November 07, 2018

Accounting by Wave Review: "A wave of approval for Wave"

Score 10 out of 10
Vetted Review
Verified User
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Wave Accounting is used as the central accounting package for the business. All income and expenses are synchronized from various bank and card accounts. Both one-off and recurring invoices are issued through Wave. Payments via credit card or back transfers are accepted through Wave. Cash low is monitored on the dashboard. Year-end reports are used for income tax calculation.
  • The dashboard provides instant views of month-by month income & expenses for the past 12-24 months, a breakdown of current year expense by category, and net income for the past year and year-to-date.
  • Invoicing has easy templated set up has lots of per invoice options such as single/recurring payment options, due dates.
  • Year end reports are easy to generate in either pdf or csv format.
  • My biggest request is that they add a way to link invoice payments with the bank deposits . When a payment is made through Wave, they show the income and it is marked with the invoice number, but when they transfer the money into the bank, the credit is not tied to the invoice(s). You have to figure out by hand and delete the transaction from the bank to prevent getting double credit on it
  • It would be good to have a field for CC email on each customer. Currently you have to add any CC when sending.
  • On the Transactions view, a few more search options would be helpful.
I have recommended it to many small businesses because first off, it works. Setup and daily use it is easy. There is no cost outside of any payment transaction processing fees. You can probably find lower fees, but they are not out of line with other services.
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November 01, 2018

Accounting by Wave Review: "Ride the Wave! It's awesome!"

Score 8 out of 10
Vetted Review
Verified User
Review Source
We use Wave as our primary accounting solution for the entire company. We're small, but Wave has great features we're using across both backend financial management and front-end sales (quoting and invoicing). The ability to process payments has been a great tool for us as well and the auto-reminder feature on outstanding invoices saves a ton of time so I don't have to manually beat the bushes.
  • Quoting and Invoicing - This feature is huge to be able to manage customers and automate the process of sending invoices as well as reminding outstanding balance holders about their obligations.
  • Payment Processing - Once you get the invoicing down, the ability to process credit card and ACH payments in a single package is great. The fees are competitive and the turn-around time to money in the bank is quick.
  • Bank Integrations - I mean, this ought to be a standard thing these days, but Wave makes it super simple. There is no need to use esoteric APIs or ugly interfaces - everything is in the same Wave wrapper and the functionality is truly seamless.
  • The mobile experience leaves a lot to be desired. While I can use the receipt app to capture expenses, we live in a mobile digital world where I need to be able to create quotes and invoices on the spot and not back at my desk.
  • There are a few accounting and account related tools that could use some sharpening. For example, there isn't a good way to merge transactions - so when I snap a picture of a receipt and add it there is trouble reconciling against the bank. This shows up as two discrete transactions that cannot be merged - so one has to be manually deleted. It kind of defeats the purpose of scanning the receipts in entirely.
  • We've struggled with integrating debt accounts. For example, a shareholder may pay for something to get us by one day - how to we capture that as a debt owed? There isn't a way. The "shareholder debt" account doesn't talk to the rest of the system.
Wave is great at small business accounting where fairly simple quotes and invoices can be set up and payments can be received online or as mailed checks. Other or more complicated situations are not well suited to the platform. Any business that takes in Bitcoin or other alternative currencies will struggle to link the account types together.
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November 18, 2018

Accounting by Wave Review: "Wave Accounting works great for my small business"

Score 10 out of 10
Vetted Review
Verified User
Review Source
We use Accounting by Wave for our entire billing system. We generate all invoices from Wave, and accept online credit card and bank transfers through Wave. We also use their accounting system to track expenses, profit & loss, and reporting. Wave simplified our billing system because it will auto-generate recurring invoices, and we get paid much faster using their system.
  • Easy to generate invoices, and recurring invoices
  • Online Payments via credit card and bank transfer
  • Accounting functions are very good to have integrated
  • I think that some customers may not trust the bank transfer login system
  • The auto-generated invoice numbers can be confusing if you have different prefixes for services.
  • it would be amazing if they added document signing and agreements to this system.
Wave is great for small businesses that want a low-cost (or free for most features) online billing system. The credit card fees are competitive for online transactions. The setup is simple enough for most users. I've never used the payroll functions, but those would be helpful to many people as well. It's less suited for large businesses with advanced accounting needs, or complicated billing systems. They work with a number of APIs, but some organizations may need more advanced integrations.
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August 10, 2018

Accounting by Wave Review: "Everything I need for my small business accounting- and more!"

Score 10 out of 10
Vetted Review
Verified User
Review Source
Wave is a great alternative to QuickBooks Small Business, and is being used to satisfy all of my small business' accounting needs. It also keeps my overhead low, because it is completely free- there's no initial or monthly subscription fee! It is completely online, so it allows me to access my account anywhere from any device, which is very helpful when I am travelling or when I forget to bring my laptop to work. Additionally, the interface is simple and easy to use, so there was no learning curve and very little stress in setting it up. It allows me to reconcile accounts, run various reports, and easily keep tabs on both my income and expenditures.
  • It connects seamlessly to my bank and credit card accounts, and typically inputs updated account information within 24 hours of the bank or credit card account being updated
  • It provides easy access to my financial information from multiple devices anywhere, anytime
  • It allows me to organize my income and expenses in easy to identify categories, helping me (and my accountant!) immensely during tax season
  • I can reconcile all accounts with a few clicks of a mouse, without hassle or stress
  • Wave doesn't have a comprehensive mobile app available, at least for Android. Wave does have supplementary apps, like an app that allows you to upload and categorize receipts, which then integrate into the main Wave interface. However, it would be great if there was an app that allowed for more on-the-go accounting.
  • On some occasions there is a delay of more than 24 hours between my bank accounts updating and Wave inputting the updated information
  • There are a few less "bells and whistles" in Wave than in QuickBooks, if those are things that are important to you and your business
Accounting by Wave is best suited for a small business with pretty straight-forward income and expenditures. I can't speak for it's usability for companies with bigger operations or more employees. Wave also includes basic invoicing and payroll functions, but from the little bit I have played around with those functions, they seem best on par with smaller, simpler operations. More complicated or specific needs would likely do best with a more "sophisticated" software.
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Geri Lynn Peak profile photo
January 08, 2018

Accounting by Wave Review: "Wave Accounting, perfect solution for my businesses."

Score 10 out of 10
Vetted Review
Verified User
Review Source
I use Wave in my firm (Two Gems Consulting Services) to manage cash-based accounting and track invoices and payments to vendors for projects that amount to around $200K annually and also as the volunteer head of BYI High School for our 4 years of operation and still manage our funds there while the school is on hiatus. Neither concern has departments. Recently, an organization I serve as a board member for took up using Wave and I was glad to see it.
  • The invoicing is easily personalized and works well with both online delivery and with downloaded .pdf files for those who prefer to have direct invoicing from our firm.
  • The billing system makes it easy to track payments to contractors by project, however, it would be great to have a full 1099 solution. The payroll system worked well for us for several years, however, there were some bumps and learning curves. I am not using it at this time.
  • We have a few clients who use the direct payment options and while that costs us a few percentage points (and on the size of our contracts it seems to be a hefty slice), it's still worth it for the piece of mind to get the funds in rapidly. The rates are fairly competitive compared to what we usually.
  • It's useful to be able to assign access to team members or collaborators.
  • Transaction coding could be smoother and offer better search options.
  • Flagging payments before transactions have been uploaded means you have to delete the old notice in order to connect the transaction to an invoice and the billing (expenses) system is always a few steps behind invoices (sales)
  • 1099 tracking and submission would be much appreciated!
With the new features I've noted, I can't think of limitations for the software. It used to be much more small business (sales of services or goods) oriented and didn't fit our work at the school. now it does much more and I don't think it is as limited anymore.
Read Geri Lynn Peak's full review
Tim Colling profile photo
December 12, 2017

Accounting by Wave Review: "Wave Accounting - Approach with Caution"

Score 5 out of 10
Vetted Review
Verified User
Review Source
We use Wave to do the bookkeeping, invoicing and payment processing for my small internet marketing business. We use it to perform monthly recurring invoicing and automatic charging to client payment cards (debit and credit cards). We attempt to use it to import transactions from our Bank of America business checking account.
  • Recurring invoicing works (finally) in a reliable and secure manner.
  • Automatic credit or debit card charging now works (finally) in a reliable and secure manner.
  • The reporting tools for the balance sheet and income statement are ok
  • Importing transactions from our Bank of America business checking account goes very poorly because Wave sometimes fails to import all transactions, leading to hours of additional work to reconcile the accounts and find and manually enter the missing transactions.
  • When automatic payments fail to work, such as when a customer's payment card is declined, there is no email notification sent to me, but there should be.
  • When transactions are imported or otherwise added, there should be/could be automatic expense category assignments but there are not at this time.
It is appropriate for very small businesses where there is a relatively low volume of transactions to be processed. In such circumstances, there are fewer chances for things to go wrong simply due to the lower volume of transactions. To be honest, it would be best for use by someone who is already an accountant and also a software engineer.
Read Tim Colling's full review
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February 09, 2018

Accounting by Wave Review: "Worth the price!"

Score 8 out of 10
Vetted Review
Verified User
Review Source
[We're] Using for all accounting functions of a small startup (2 employees). [Also] Using it to track sales and expenses and for tax purposes at the end of the year.
  • Estimates (quotes) and converting them to sales.
  • Offering multiple ways of accepting payment.
  • Dashboard gives up-to-date information.
  • Has no ability to generate a purchase order.
  • Connecting to your bank may not work. My bank has a separate log in for business customers vs. regular customers but the hand-shake to the bank is aimed at the regular customer login.
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February 28, 2018

Accounting by Wave Review: "Wave Accounting- Great platform and easy to use."

Score 10 out of 10
Vetted Review
Verified User
Review Source
I recently switched over to WAVE accounting from QuickBooks. I was using QuickBooks and had so many issues with posting expenses that I decided to cancel my subscription and jump over to Wave. Best move I ever made. It offers a great platform for my needs and best of all it's free. I am looking to add their payroll services which do come at a cost but I'm miles ahead without having to call support like I was constantly doing with QuickBooks. I am strongly suggesting you look into Wave for your accounting needs. Great job Wave team! Gil
  • First of all, it's free.
  • Easy to use. The Expense app is great when I'm traveling. I take a picture of my receipt and upload it. No more lost receipts with the Wave App
  • Constantly adding features
  • At times its a bit slow being an online service
I would absolutely recommend Wave. I'm a huge fan and spreading the word.
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Torrey Holman profile photo
December 08, 2017

Accounting by Wave Review: "'WAVE' Hello to Managing Your Business"

Score 10 out of 10
Vetted Review
Verified User
Review Source
As an online freelancer, I need to be able to bill clients from all over the world. Wave allows me to create my own customized invoice for that, and break down the billing for each individual task. I recently held double positions within a company and I was able to bill for each department on one invoice. It allows me to create, edit, approve, and send invoices, even to send reminders to pay. Once paid I can then record the payment and send a receipt to the client for their records. This is very important as a freelancer because not everyone pays on the same schedule and keeping track of payments could be a hassle otherwise.
  • Separates tasks by name for billing
  • Reminders of invoices coming due and notices of any overdue
  • Calculates payment amount due depending on the information you previously set up
  • Saves time
  • Makes freelancing financials painless
  • I've not run into anything as of yet I'd like to see improved or added
Well suited for those with just one, or several clients, pay rates, tasks or projects. The software is perfect for those who work for themselves and I can't think of any situation that it would not be suitable for. Freelancers in particular though would be able to put Wave to the best use.
Read Torrey Holman's full review
Al Wynant profile photo
December 07, 2017

Accounting by Wave Review: "Online accounting platform making waves."

Score 10 out of 10
Vetted Review
Verified User
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Wave is an easy to use platform. We use it mainly for invoicing and tracking accounts payable throughout the company. When we started we looked for a system that was easy to implement, didn't require tons of training and looked/acted the part, which it does. We continue to use the platform on a daily basis. It has done a great job in adding more services.
  • Invoicing is easy.
  • Easy customization of the platform.
  • Ability to track your customer's behaviors.
  • At times the platform is slow loading upon login.
  • Wishing the login button was more prominent over the "sign up" button. I often click on the sign up button to log in.
  • We originally added our cc processor to invoicing and have changed provider but have not been able to update the information and have therefore not used the feature.
Since the software is free to use, easy to start with and fairly customizable, it makes great sense for small businesses, start-ups and other organizations that do not have a large budget for accounting software, or capacity for training. Wave is so easy to start with, and the fact that it is free to use, makes it ideal for those scenarios.
Read Al Wynant's full review
Rachelle Smith profile photo
December 05, 2017

Accounting by Wave Review: "Wave Accounting Software"

Score 10 out of 10
Vetted Review
Verified User
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I have used Wave for five years, and discovered it soon after starting my business. I am the owner, and use it weekly for my company. It helps with my accounting needs.
  • Wave is very easy to use. I had not used cloud-based accounting software before using it, and mastered it with ease.
  • Because it is cloud-based, I like being able to access is anywhere from any computer. When traveling, I still have interrupted access to it. I always know what is going on with the financials of my business.
  • I have been able to schedule recurring bills. I have had to log in and enter each bill monthly, as well as a payment date. It would be nice to schedule my bills to recur for the entire year.
Wave is a good choice for entrepreneurs, who are just starting or even established. It affords me the same benefits as QuickBooks or Quicken. It is easy to navigate and enables you to get a handle on your finances early on in the process.
Read Rachelle Smith's full review
Mia Awang profile photo
June 30, 2017

Accounting by Wave Review: "Wave: God bless you for your genius"

Score 10 out of 10
Vetted Review
Verified User
Review Source
Accounting by Wave is used across the organization for invoicing and accounting.
  • Credit Card Acceptance, an excellent feature that makes payment convenient for clients. It's also a very quick set up.
  • Estimate to Invoice Lifecycle: Incredibly useful and time-saving to convert quotes instantly.
  • Usability: Very intuitive and a lovely dashboard for financial overviews.
  • Invoice templates can be customised and look instantly impressive. Very easy to edit, filter, arrange and most importantly, they're easy to process from the client's point of view.
  • Great customer support. The first day I had an IT issue, they solved it straight away.
  • Invoices look great on desktop and device formats.
  • Upload your receipts direct to Wave, even if it's not a unique feature, I love that Wave includes it.
  • My accountant is happy to use the data from it.
  • Seriously everything, every tiny, well thought out feature that I've discovered so far.
  • None found, not yet. It's brilliant.
I'm in awe of this software. I'm a small start up and I've gone through at least 10 or 12 other platforms with a Goldilocks effect of 'This layout is too unimpressive' or 'This makes payment too laborious for clients'...until Wave. It's just right.
Read Mia Awang's full review
Hanna Geshelin profile photo
December 28, 2016

Review: "Very Small Business Owners, Look No Further than Accounting by Wave"

Score 10 out of 10
Vetted Review
Verified User
Review Source
I am semi-retired, with a small home-based business where I teach adults and children to sew as well as do clothing alterations. For most of my worklife I was a writer and editor, and I still do some of that. I use Accounting by Wave to keep track of all my earned income from every source. I formerly used QuickBooks, but it was so complex that I made frequent errors that made my accounting a nightmare. Wave is designed to be user-friendly for small companies such as mine, and can be used by someone without training in accounting. With Wave, many problems are handled easily:
  • Categorizing income & expenses by accounts
  • Simple reports
  • Customizable, attractive, professional invoices
  • Easy recurring invoicing
  • Ability to send invoices through Wave or through my own email program
  • Customers can pay directly from their invoice over the internet
These are just a few features that are much easier than on other programs I've used.
  • Wave has a good on-line database of help articles. Additionally, their staff responds to customer service problems and inquiries received via email quickly and completely, even without their premium customer service option. They follow up on inquiries to make sure that the problem has been solved. Plus, I have seen that a few issues that were not supported at the time of my inquiry became updates. This means that they pay attention to the needs of their users and incorporate user suggestions to make the program stronger and better, yet still easy to use.
  • I was able to create a unique, custom invoice template in just a few minutes using clip art. Having a professional-looking invoice helps project the image that I want my school to have.
  • Setting up additional businesses is easy. My writing/editing business has its own custom invoice template, and I was able to set up deposits from those invoices into an account at a different bank than that used for my sewing school. Wave made it very easy to keep track of both businesses without any danger of confusing expenses and income.
  • The receipt function from my smartphone is really handy and easy to use.
  • I would like to be able to customize the reminder sent to customers who haven't paid invoices. The boiler-plate text doesn't apply to my situation, so I can't use this feature and have to write each reminder separately.
  • I bank with two small credit unions that are not supported by Wave, which means that transactions aren't automatically downloaded to my Wave account. Of course when clients pay using the link on their invoices the deposits are made to my accounts; but Wave can't connect directly to my credit union for other transactions.
  • Sometimes it is slow to load.
Wave is wonderful for a very small business such as mine. It provides all the functionality that I need and while it has many functions that so far I haven't needed, these in no way interfere with the functions I do use. The learning curve is short because it is user-friendly and doesn't try to be all things to all people.
Read Hanna Geshelin's full review
Marc Palud profile photo
January 16, 2017

Accounting by Wave Review: "Wave Accounting App - Free, easy cloud-based accounting"

Score 9 out of 10
Vetted Review
Verified User
Review Source
Wave is used to manage our quotes and invoicing for project work.
  • Simple to use.
  • Cloud based.
  • Works on mobile via a web browser.
  • They also have an app for invoicing.
  • It's an ad supported platform, [with] Google AdSense within the app. Other than that, fairly clean.
[Accounting by Wave is well suited for] Quick creation of invoices. [Also to] Send out overdue reminders, which can be automated.
Read Marc Palud's full review
John Murray Headshots profile photo
December 28, 2016

Accounting by Wave Review: "Good Work Wave"

Score 10 out of 10
Vetted Review
Verified User
Review Source
I was having problems sourcing a suitable solution for taking credit card payments from clients. I found a great solution in some Irish software but was unable to charge clients remotely. To that point, my workflow was a bit all over the place. Invoicing and receipts one way; billing and accounts another. At a bit of a loss for a remote solution, I found Wave. For the first time I can manage all of my accounts in one place. [I can] record my outgoings with photographs of receipts (losing the paper bundles) and instantly invoice clients by the click of a few buttons on my phone or tablet. Brilliant software. Well worth using.
  • Fast invoicing
  • Easy to use
  • No more boxes of reciepts
  • I would like to see a button feature like the SumUp app.
  • A box for prices incl or excl tax for ease of pricing.
  • A Mac desktop version of the app. But I can use the website so I'm just being picky.
It's just so easy to use. I use it to send invoices and receipts directly to clients while still shooting with them. It's great for reminding me people owe me money. Because let's face it, I am a disaster.
Read John Murray Headshots's full review
Randy O'Malley profile photo
June 08, 2016

Accounting by Wave: "Wave Accounting Review"

Score 8 out of 10
Vetted Review
Verified User
Review Source
Wave is being used for my entire organization as we use it for the general ledger, A/R and payroll. It automates many tasks saving our organization time and money. With other software we spent considerable time entering payroll, writing cheques to employees and submitting government remittances. Wave has streamlined this process since employees are paid directly to their bank accounts and government remittances are automatically paid.
  • The payroll module is fantastic. The entire process is automated and saves considerable time throughout the process.
  • The automatic download of bank and credit card transactions into the general ledger saves a considerable amount of time with data entry.
  • Allowing customers to pay invoices by credit card directly through Wave allows for faster collection of receivables.
  • The reporting features could be more robust as the number of reports are limited and not a flexible as I would like to see them.
  • I have run into issues when trying to export general ledger items. There are inconsistencies with the date formats and as a result the information does not export easily.
This software is suited for small owner managed businesses. The payroll automation and importing of bank and credit card transactions save users a significant amount of time when maintaining their records. The software only works for clients who are able to keep their records up to date and perform regular reconciliations. This software loses much of its functionality if the records are not kept up to date.
Read Randy O'Malley's full review

Feature Scorecard Summary

Pay calculation (18)
8.4
Benefit plan administration (4)
7.5
Direct deposit files (14)
8.0
Salary revision and increment management (9)
7.7
Reimbursement management (6)
8.0
API for custom integration (5)
8.9
Plug-ins (7)
9.2
Single sign-on capability (19)
9.0
Role-based user permissions (24)
8.2
Dashboards (42)
8.5
Standard reports (42)
8.3
Custom reports (20)
8.6
Accounts payable (37)
8.5
Accounts receivable (43)
9.2
Cash management (37)
8.2
Bank reconciliation (41)
7.8
Expense management (39)
8.6
Time tracking (6)
7.3
Fixed asset management (7)
6.2
Multi-currency support (15)
8.5
Multi-division support (9)
7.5
Regulations compliance (10)
7.3
Electronic tax filing (8)
6.0
Self-service portal (26)
9.1
Global Financial Support (1)
9
Primary and Secondary Ledgers (3)
9.3
Intercompany Accounting (3)
8.7
Localizations (2)
9.5
Journals and Reconciliations (11)
8.4
Enterprise Accounting (3)
8.7
Configurable Accounting (9)
8.5
Centralized Rules Framework (1)
9
Standardized Processes (8)
7.9
Inventory tracking (3)
9.5
Automatic reordering (4)
8.0
Location management (1)
9
Manufacturing module (1)
9
Pricing (16)
8.3
Order entry (11)
8.3
Credit card processing (29)
9.1
Cost of goods sold (22)
8.9
Order Orchestration (2)
8.0
End-to-end order visibility (2)
4.7
Order exception Resolution (1)
8
Branded client dashboards (6)
8.0
Client data roll-up capabilities (4)
8.0
Client data consolidation for benchmarking (5)
7.5
Configurable alerts (4)
8.0
Billing bypass (5)
8.0
Client template cloning (4)
8.0
Single sign-on (10)
9.0
Configurable client onboarding questions (4)
8.0
Cross-client workflow management (3)
8.0
Industry-specific versioning (4)
8.0
Legacy system data migration (3)
8.0

About Accounting by Wave

Accounting by Wave is a fast growing, free, cloud-based accounting platform exclusively for small businesses (less than 9 employees) offered by Wave in Toronto. It supports double-entry bookkeeping and permits unlimited user access to always-available records and reports, as well as unlimited invoicing and expense management. Wave integrates with expense tracking software Shoebox. The software is mobile-accessible.

The free accounting platform by Wave integrates with Wave's invoicing, receipt scanning, payment processing and payroll apps, into one relatively comprehensive package. However, the automated payments and payroll functionality must be purchased; the payments addition bills per transaction, and the payroll feature bills by number of employees over a flat rate. To support the free platform, Wave integrates advertisements from business partners. Thus these are a necessary facet of the service.

Accounting by Wave Competitors

Accounting by Wave Technical Details

Operating Systems: Unspecified
Mobile Application:No