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Wave Accounting is a free, cloud-based accounting platform exclusively for small businesses. It supports double-entry bookkeeping and permits unlimited user access, invoicing, and expense management. Wave Accounting integrates with Wave's invoicing, receipt scanning, payment processing and payroll apps.https://media.trustradius.com/product-logos/4F/7m/TFABTGMTZHT4.PNGNot a Wave you Want to RideWe use Wave as our primary system to track expenses, invoices, and payments. We also used Wave to process credit card payments. We use Wave Accounting software company-wide. At first, it appeared to be great way to track invoices and easily receive payments via credit card. The website itself has some nice features.,Logging invoices and payments as it is relatively easy and fast. Integration with our payroll system (ADP),Customer service needs a lot of improvement! It is extremely difficult to contact support as they do not provide a dedicated customer service line and it takes a long time to get a response via email. Credit card payments have been extremely problematic and are often held up for an unreasonable amount of time (several days and longer). Complete lack of communication if an issue arises and lack of support getting any kind of resolution. No longer linking with our account and no notification when it occurred.,1,Unfortunately the issues that we have had with Wave potentially cost our company thousands of dollars in lost revenue from credit card transactions, an unreasonable amount of staff time resolving issues, and damaged relationships with some of our clients. Good way to get everything up and running but the issues with the credit card processing negated any benefit.,PayPal Payments, ADP Streamline Payroll and QuickBooks Desktop Enterprise,ADP Streamline Payroll, PayPal PaymentsThe best option if you're a freelance worker!We use Wave Accounting in mainly the IT department to track invoices and receive payments from clients for work completed and reoccurring sales. Wave makes it very easy to create an invoice template, add customers, create line items, and send invoices! The option to also allow credit card payments on the invoice through Wave is a nice feature and saves us time from having to contact the customer and take card information over the phone and the transaction fee they charge isn't bad at all considering other applications out there.,They make sending invoices pretty simple and you can choose from sending either from Wave or you can add an email account and it will allow you to send from the Wave account but using your own account to avoid confusion from your clients. Being able to store products, line items, and various services so you can quickly create more invoices later is a great feature! It'll save the price or hourly rate for the next time you need to use it Reoccurring invoices are one of my favorite features, it makes it simple to send invoices to customer who have a monthly fee you need to charge. Wave will send it automatically and there's no extra work for you to do to ensure your customer is up to date on current charges.,Taking payments - I would like to see them integrate with CashApp or Venmo since many of my clients like to pay via mobile apps like those and then I have to manually record the payment in Wave I would also like to see a feature that allows you to download a PDF version of an invoice in their mobile app. Other than that the mobile app is great!,8,We/I have a much more professional look and approach to quoting and collecting dues from clients and customers It gives us an all in one centralized location for all incoming and outgoing cash flow It makes end of the year tax paperwork a breeze and takes the guess work out of trying to collect 1099-MISC from clients,FreshBooksPowerful Free Accounting and Invoicing for Small BusinessesAs a small business owner (founder, principal and independent contractor) with clients across the country, I quickly discovered that I needed a solution to manage my invoicing, cash flow and expenses for the business. Spreadsheets are fine, but I needed something professional but lightweight. I tried a few other solutions, but once I found Wave I was hooked. I've been using it for years, it's my go-to solution, and they keep adding features that make it better. I use it for estimates, invoicing, and bookkeeping.,Invoices are so easy to execute. Whether they are one-off or recurring, fixed or variable, single item or multiple line entries, they come out looking professional, polished and they get sent without any fuss. Put your client's info on them, add your logo, describe the services, add notes, set due dates, etc. all without cracking an abacus. It's a little thing but I love how the estimates feature integrates with Invoices. You start by making an estimate for a client, with a defined expiry date. Once they accept, you can convert that estimate immediately into an Invoice and set it up to send. Built-in payment processing is great. I don't have to worry about Paypal or Stripe or anything, Wave just handles my client's credit cards so I don't have to do a thing. They even have recurring billing for my retainer clients!,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.,10,I can't mark down a specific ROI, because Wave doesn't have a cost the way I use it. But compared to Quickbooks Online or similar software I'd put Wave at least on par if not better for my needs, which means I am getting a huge return for no cost.,QuickBooks Online, FreshBooks and Zoho BooksWave 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 RangerAccount By Wave Saves you time & resourcesAccounting 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,8,Wave means I have fewer daily tasks.,,LastPass, Avast Business AntivirusA wave of approval for WaveWave 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.,10,Like many, when I started the business, I used spreadsheets which I quickly outgrew. Wave has been the most cost effective solution. I save hours of work each year by simply exporting the csv for my accountant,Zoho BooksRide the Wave! It's awesome!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.,8,Wave has enabled our accounts payable to maintain a 99% closure rate by leveraging auto reminders through the email system. Our quote to invoice process is a single click, saving time and effort. Even minor changes during that transition occur simply and easily. Aside from payments, Wave has been free for our usage. Our bottom line is better because we're not investing in software but instead embracing an entire ecosystem.,QuickBooks OnlineWave Accounting works great for my small businessWe 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.,10,I'm getting paid faster than my previous billing methods. Accounting features keep me organized all in 1 place If / when I need payroll, I will use Wave,Review: WaveWave 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.,10,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.,Slack, Adobe Acrobat DC, Adobe Illustrator CCEasy Integrated and Low Cost Accounting Solution for Small and Mid Size BusinessesAccounting 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.,8,Wave has removed several of the stresses of running my own business and helped me collect payment from a variety of local and national clients in one easy space. Wave has helped give me eyes in on how my money has been allocated, and how the business expenses have been tracked. Wave is a good self-service tool, that can do much of the work Quickbooks does for others, but as a free solution provider.,PayPal Here and PayPal Payments,Adobe Acrobat DC, Adobe Connect, Adobe Illustrator CCNeed a Low Cost Accounting Program for your small Business? Try Wave.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,10,I used to dread the day I had to create invoices - it is now very simple and takes little time. I can now bring my accountant reports at tax time for more accurate reporting. My clients can pay online so they don't have to give me their credit card information in an unsecured manner.,,Drip from Leadpages, Constant Contact, WordPressEverything I need for my small business accounting- and more!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,10,It has kept my overhead low, as it is free of cost It has helped me manage my finances by giving me an easy to access snapshot of income vs/ expense It has helped me organize all the information needed for tax filing,QuickBooks Online,Square POS, Evernote, Google DriveWave Accounting- Great platform and easy to use.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,10,As mentioned I was paying for QuickBooks and now I am using Wave Accounting for free. I used to spend on average two hours a month with Quickbook support but since I've switched over to Wave I've not had any issues at all. Huge time savings,Wave Accounting, perfect solution for my businesses.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!,10,Helps keep boring cash accounting more orderly and professional. I could use spreadsheets, but why? Saves money over other options, with a nice UI.,Intuit Payroll'WAVE' Hello to Managing Your BusinessAs 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,10,Keeps me up to date for taxing purposes,Excel and Gnu,TSheetsWave Accounting - Approach with CautionWe 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.,5,It may have saved money, since it's low cost for card processing It has cost hours and hours of work in having to reconcile missing transactions on import It was very costly in the beginning due to lack of reliability but it seems better now,QuickBooks Premier,BrightLocal, SEMRush, Majestic SEO, ZoomOnline accounting platform making waves.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.,10,It has been an excellent product to manage our invoices. Can't beat "free".,,Zoho CRM, Slack, SparkPostWave Accounting SoftwareI 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.,10,It has positively impacted my business objectives, because I am able to view my financials at a glance, or create reports. Both enable me to make necessary adjustments to spending, etc. After the first year of using it, my spending decreased by 50%, and my revenues increased, resulting in increased net profits.Worth the price![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.,8,It's free so comparing it to the alternatives, it's a huge savings.,QuickBooks Online,WixWave: God bless you for your geniusAccounting 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.,10,It's too soon to supply hard figures but today I have had two bookings from the same estimate. The feedback from it was that yes, they liked the service I was offering but they also wanted to know what software I was using for the estimate so clearly the layout left a positive impression. I believe that this will save me money on accountant fees. I believe that the card payment option will result in faster invoice payments.,Harvest, Hiveage and NutcacheVery Small Business Owners, Look No Further than Accounting by WaveI 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 accountsSimple reportsCustomizable, attractive, professional invoicesEasy recurring invoicingAbility to send invoices through Wave or through my own email programCustomers can pay directly from their invoice over the internetThese 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.,10,I do everything in my small business. Wave has given me the ability to keep good clear books in a fraction of the time I needed using other programs. This has given me more time to use on other activities that help my business grow and succeed.,QuickBooks Pro
Unspecified
Wave Accounting
108 Ratings
Score 8.8 out of 101
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Wave Accounting Reviews

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Wave Accounting
108 Ratings
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Score 8.8 out of 101

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Sean Stewart profile photo
August 03, 2019

Not a Wave you Want to Ride

Score 1 out of 10
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We use Wave as our primary system to track expenses, invoices, and payments. We also used Wave to process credit card payments. We use Wave Accounting software company-wide. At first, it appeared to be great way to track invoices and easily receive payments via credit card. The website itself has some nice features.
  • Logging invoices and payments as it is relatively easy and fast.
  • Integration with our payroll system (ADP)
  • Customer service needs a lot of improvement! It is extremely difficult to contact support as they do not provide a dedicated customer service line and it takes a long time to get a response via email.
  • Credit card payments have been extremely problematic and are often held up for an unreasonable amount of time (several days and longer).
  • Complete lack of communication if an issue arises and lack of support getting any kind of resolution.
  • No longer linking with our account and no notification when it occurred.
Wave is fine if you only use it for accounting but I would urge others not to use Wave for credit card processing. Apparently our account was either not set up correctly and we received no notification, or the link to our bank account to deposit credit card payments was broken, again with no notification. When trying to resolve the issue we received little help from customer support. In fact their reaction was to no lover service our account for credit card transactions. When asked why, we were given reasons that were untrue and when confronted with evidence contradicting their claims Wave would provide another reason. We have since moved on to another credit card transaction provider and have not had any problems.
Read Sean Stewart's full review
David Schwartz profile photo
August 03, 2019

The best option if you're a freelance worker!

Score 8 out of 10
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We use Wave Accounting in mainly the IT department to track invoices and receive payments from clients for work completed and reoccurring sales. Wave makes it very easy to create an invoice template, add customers, create line items, and send invoices! The option to also allow credit card payments on the invoice through Wave is a nice feature and saves us time from having to contact the customer and take card information over the phone and the transaction fee they charge isn't bad at all considering other applications out there.
  • They make sending invoices pretty simple and you can choose from sending either from Wave or you can add an email account and it will allow you to send from the Wave account but using your own account to avoid confusion from your clients.
  • Being able to store products, line items, and various services so you can quickly create more invoices later is a great feature! It'll save the price or hourly rate for the next time you need to use it
  • Reoccurring invoices are one of my favorite features, it makes it simple to send invoices to customer who have a monthly fee you need to charge. Wave will send it automatically and there's no extra work for you to do to ensure your customer is up to date on current charges.
  • Taking payments - I would like to see them integrate with CashApp or Venmo since many of my clients like to pay via mobile apps like those and then I have to manually record the payment in Wave
  • I would also like to see a feature that allows you to download a PDF version of an invoice in their mobile app. Other than that the mobile app is great!
If you do freelance work then it's perfect! I love having Wave for side business we perform at work and it makes it so easy to set up a freelance operation with professional invoicing. When a customer, or perspective customer, receives one of Waves invoices it definitely helps to make you look more professional and gives your customer confidence that you aren't just the average Joe that's going to take their money.
Read David Schwartz's full review
J.P. VanderLinden profile photo
December 15, 2018

Powerful Free Accounting and Invoicing for Small Businesses

Score 10 out of 10
Vetted Review
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As a small business owner (founder, principal and independent contractor) with clients across the country, I quickly discovered that I needed a solution to manage my invoicing, cash flow and expenses for the business. Spreadsheets are fine, but I needed something professional but lightweight. I tried a few other solutions, but once I found Wave I was hooked. I've been using it for years, it's my go-to solution, and they keep adding features that make it better. I use it for estimates, invoicing, and bookkeeping.
  • Invoices are so easy to execute. Whether they are one-off or recurring, fixed or variable, single item or multiple line entries, they come out looking professional, polished and they get sent without any fuss. Put your client's info on them, add your logo, describe the services, add notes, set due dates, etc. all without cracking an abacus.
  • It's a little thing but I love how the estimates feature integrates with Invoices. You start by making an estimate for a client, with a defined expiry date. Once they accept, you can convert that estimate immediately into an Invoice and set it up to send.
  • Built-in payment processing is great. I don't have to worry about Paypal or Stripe or anything, Wave just handles my client's credit cards so I don't have to do a thing. They even have recurring billing for my retainer clients!
  • 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.
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.
Read J.P. VanderLinden's full review
Lukas Sundahl, MBA profile photo
November 01, 2018

Wave Hello to Your New Accounting Solution - Wave

Score 10 out of 10
Vetted Review
Verified User
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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

Wave is a great small business solution

Score 9 out of 10
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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

All You Need Accounting For Start-up Businesses

Score 10 out of 10
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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

need a free ride for invoicing & accounting? catch this Wave!

Score 10 out of 10
Vetted Review
Verified User
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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

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
Nick Throlson profile photo
November 07, 2018

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
No photo available
November 07, 2018

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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No photo available
November 01, 2018

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

Wave Accounting works great for my small business

Score 10 out of 10
Vetted Review
Verified User
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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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Chris Hecox profile photo
July 05, 2018

Review: Wave

Score 10 out of 10
Vetted Review
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

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
Ellen McDowell profile photo
June 20, 2018

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
No photo available
August 10, 2018

Everything I need for my small business accounting- and more!

Score 10 out of 10
Vetted Review
Verified User
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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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February 28, 2018

Wave Accounting- Great platform and easy to use.

Score 10 out of 10
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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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Geri Lynn Peak profile photo
January 08, 2018

Wave Accounting, perfect solution for my businesses.

Score 10 out of 10
Vetted Review
Verified User
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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
Torrey Holman profile photo
December 08, 2017

'WAVE' Hello to Managing Your Business

Score 10 out of 10
Vetted Review
Verified User
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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
Tim Colling profile photo
December 12, 2017

Wave Accounting - Approach with Caution

Score 5 out of 10
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Verified User
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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
Al Wynant profile photo
December 07, 2017

Online accounting platform making waves.

Score 10 out of 10
Vetted Review
Verified User
Review Source
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

Wave Accounting Software

Score 10 out of 10
Vetted Review
Verified User
Review Source
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
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February 09, 2018

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.
Read this authenticated review
Mia Awang profile photo
June 30, 2017

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

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

Feature Scorecard Summary

Pay calculation (19)
8.5
Benefit plan administration (4)
7.5
Direct deposit files (15)
8.4
Salary revision and increment management (10)
7.8
Reimbursement management (7)
8.3
API for custom integration (6)
8.7
Plug-ins (7)
8.6
Single sign-on capability (22)
8.8
Role-based user permissions (25)
8.0
Dashboards (45)
8.5
Standard reports (44)
8.5
Custom reports (21)
8.7
Accounts payable (38)
8.6
Accounts receivable (46)
9.2
Cash management (40)
8.1
Bank reconciliation (44)
7.6
Expense management (41)
8.5
Time tracking (7)
6.7
Fixed asset management (8)
7.9
Multi-currency support (15)
8.1
Multi-division support (9)
7.2
Regulations compliance (11)
5.9
Electronic tax filing (9)
6.3
Self-service portal (29)
8.3
Global Financial Support (2)
9.0
Primary and Secondary Ledgers (3)
9.2
Intercompany Accounting (3)
8.6
Localizations (2)
9.5
Journals and Reconciliations (14)
7.3
Enterprise Accounting (4)
7.5
Configurable Accounting (11)
8.0
Centralized Rules Framework (2)
8.5
Standardized Processes (9)
8.4
Inventory tracking (4)
7.1
Automatic reordering (5)
8.8
Location management (2)
8.5
Manufacturing module (1)
9
Pricing (18)
8.6
Order entry (12)
8.7
Credit card processing (32)
8.5
Cost of goods sold (23)
8.7
Order Orchestration (3)
8.0
End-to-end order visibility (3)
7.9
Order exception Resolution (2)
7.5

About Wave Accounting

Wave Accounting 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 Shoeboxed. The software is mobile-accessible.

Wave Accounting 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.

Wave Accounting Competitors

Wave Accounting Technical Details

Operating Systems: Unspecified
Mobile Application:No