Wave Accounting Reviews and Ratings

Use Cases and Deployment Scope

Tracking financials, invoicing clients.

Likelihood to Recommend

For a small business with basic needs I think Wave is perfect. I cancelled my Quickbooks and moved to Wave years ago and have never looked back. I have suggested it to multiple friends and at least 1 I know uses it.

Use Cases and Deployment Scope

We use Wave Accounting in our accountancy practice for a small pool of micro clients. Software produces useful reports from transactions including a trial balance, profit and loss and balance sheet that we can then import into our accounts production software. It is free to use for very small businesses who do not require more advanced features such as VAT, MTD etc.

Likelihood to Recommend

It is a useful software for micro businesses but it is now less suitable for UK market. UK compliance requirements have increased in recent years with the introduction of Making Tax Digital and many businesses, not only VAT registered, need to have this feature, and it is missing in WaveApp software.

Use Cases and Deployment Scope

I use Wave Accounting for a nonprofit Client which has neither large revenue nor transactions. I have them set-up in the free version as they do not require much in the way of accounting software bells and whistles. They are basic with an average of 10-20 transactions per month, 1 bank account, 1 credit card account and payroll.

Likelihood to Recommend

For VERY small clients with minimal revenue and no budget, I would wholeheartedly recommend however if the client is at all large needing robust bookkeeping, I would never recommend Wave Accounting Apps. It all depends upon each client and what their bookkeeping needs will be. This is also good for the smaller clients to handle their own bookkeeping if they cannot afford a bookkeeper.

Use Cases and Deployment Scope

I am an artist and the only user. In trying to reconcile sales tax in wave to what I report to the state by quarter using the P&L, all income by customers and the account balances for the same time period (accrual) show different totals. I am at a loss how they can produce different numbers from what should be the same data. I am finding them unusable.

Likelihood to Recommend

I would not recommend for anyone who needs to track sales tax, total and taxable sales.

Use Cases and Deployment Scope

Wave seems to be down more than it is up. The last few weeks it has been under repair very often making it very hard to do business. I like to use their software for invoicing but I can't get into doing my work. It is strange for a large company like this to be unavailable to its clients.

Likelihood to Recommend

I have been trying to create invoices for two days. It seems strange that they cannot fix the problem. The yellow system is down again.

Use Cases and Deployment Scope

I use it for personal and business account. My bookkeeper has access and will update my accounts and generate financial statements and use it to communicate with my accountant at year end. Its nice that it imports all my financial statements from my banks allows me to categorize transactions and view my transactions and a recolcile my books as well. its easy enolugh for me to use as well and I have no finance background. The reports are helpful from P&L and balance sheets and more.

Likelihood to Recommend

I use it on a monthly basis to reconcile my books, see where my money is being spent, look at my profitability and cashflow as well. The reports make this easy to do and categorizing multiple transactions are easy as well. I cant think of many cases where you would not want to use WAVE accounting software

Use Cases and Deployment Scope

As a somewhat accounting-illiterate owner of a small business, Wave has been easier to use than Quickbooks. It's made my finances accessible and easy to understand. Also the invoices that go out, along with the automatic reminders, look very professional. Best of all for a micro-business like mine, it's free!

The very consequential difficulty has come in finding bookkeepers or accountants who will use Wave. This has frankly led me to hire a sub-par bookkeeper who did such a poor job that someone else had to straighten things out. This is because all the talented bookkeepers wouldn't touch Wave. They complain that it's not properly set up for what they normally do, and that they have to transfer all the numbers from Wave to Quickbooks, anyway, which isn't worth their time.

Likelihood to Recommend

Use Cases and Deployment Scope

We use Wave Accounting for all the financial data of the organization (SME.) The payroll, however, was outsourced. The product addresses a training problem within the organization as it is easy to use, and minimal training is required. We have a platform where we can invoice, bill, track all our expenses and manage our finances with the reports produced by the system. It is very user-friendly.

Likelihood to Recommend

Wave Accounting has a very good invoicing function, easy to use, and [is] customized specifically for small businesses. The payment processing function is also very user-friendly. There could be minor improvements to the invoice numbering as they are not always in order, it is not a big deal, but it would really be nice if the invoice number could be specific to each set of clients.

Use Cases and Deployment Scope

Accounting

Likelihood to Recommend

It's a scam to take peoples money! It looks pretty on the outside however they at the click of a button wipe you out. This is based on my personal experience and that of the numerous complaints online to the BBB and others!

Use Cases and Deployment Scope

Went from Rave to RIOT over payout holdups. [It seems like] they've delayed my money countless times. They suspend payment, asking for "client contracts" to prove my [business] [is legitimate] after paying me for months! I have legal [business] docs, but they said [I needed to show] "client contracts, Social Media, or Website to review". I was OFFENDED [and refused to give] a client contract! And WHY NOT [ask for] THAT UPFRONT? Their "support" [is only] Mon-Fri 8-5! I buckled and applied for Wave Debit & instant payouts. Last [month] [my account] said "instant payout $500". Hadn't had one since before the suspend. Clicked to "instant payout" and [I felt like a] fool! Suspended, AGAIN! Waited for Monday to chat support and was told "new" debit card is why. [I think they are the] same two cards on account, [which they] paid [previously]. Then [support] emails others to "release" the suspension. Waited ALL DAY with no reply, I got worried they were closing, checked account [and] it was released. Currently [I've been] told to wait 7 business days (MAX time) on ACH client paid 7/27. They ALWAYS pay [out on] days estimated, [and it] was never more than five [days] before. I [am upset that] I didn't [change vendors] after the first problem.

Likelihood to Recommend

Well suited for the free reporting BUT Invoice somewhere else. Less appropriate for INVOICING. [I feel] that they suspend [the] account often and for reasons that aren't relevant. [It seem like] you have [to employ] someone else to take the time to sort it out on a monthly basis because you're not giving them advertised services or canceling advertised services.