Overview
What is Wave Accounting?
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.
Disappointed in Wave Accounting
Wave Accounting has become unreliable
Wave has all you need for basic acounting
Awesome and easy-to-use software that unfortunately you can't use if you hire a good bookkeeper
Good Accounting Software for SME's
Wave accounting FRAUD and malicious practices.
Wave Accounting Review
Wave was a great option for my marketing consulting business.
Wave is user friendly - easy to use!
Wave Accounting Software
I will never use this free software -they just cancel features!!!
Avoid Waveapps if you are a non-profit
Wave Accounting - great for micro businesses
Awful Software and Support
We were looking …
Wave Accounting: Perfect for the small business and aspiring entrepreneur!
Awards
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Popular Features
- Bank reconciliation (63)9.696%
- Accounts receivable (67)9.696%
- Standard reports (67)9.595%
- Dashboards (68)9.494%
Reviewer Pros & Cons
Pricing
What is Wave Accounting?
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…
Entry-level set up fee?
- No setup fee
Offerings
- Free Trial
- Free/Freemium Version
- Premium Consulting/Integration Services
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Alternatives Pricing
What is Xero?
Xero is an online accounting software product for small businesses and personal finance. Its features beyond general ledger and double-bookkeeping include quotable invoicing, bank reconciliation, purchase order and expense management, and tax management. Third party apps can extend its features…
What is QuickBooks Online?
QuickBooks Online is a SaaS version of the QuickBooks product. It contains all of the features found in the local version. Higher-priced plans include greater automation, payment management, inventory and time tracking, and analytics features.
Product Demos
How To Use Wave Accounting App | Get a hold of your Money! | Ibukun Awosika
Wave Accounting Demo
Features
Payroll Management
Provides for pay calculation and benefit plan administration, in addition to managing direct deposit, salary revisions and payroll tracking.
- 7.1Pay calculation(23) Ratings
Pay calculation provides for computation of employee pay with state and federal deductions.
- 7.5Benefit plan administration(4) Ratings
Benefit plan administration is administration of health insurance plans and 401k plans, and other benefits.
- 1.2Direct deposit files(20) Ratings
Direct deposit is the ability to electronically transfer pay to an employee’s personal bank account.
- 7.7Salary revision and increment management(12) Ratings
Salary revision is the ability to modify individual employee pay.
- 7.4Reimbursement management(8) Ratings
Reimbursement management provides cash reimbursement for employee expenses related to business travel or other.
Customization
This addresses a company’s ability to configure the software to fit its specific use case and workflow.
- 9.9API for custom integration(9) Ratings
An API (application programming interface) provides a standard programming interface for connecting third-party systems to the software for data creation, access, updating and/or deletion.
- 7Plug-ins(11) Ratings
A number of third-party plug-ins are available to expand the core functionality of the software.
Security
This component helps a company minimize the security risks by controlling access to the software and its data, and encouraging best practices among users.
- 9.7Single sign-on capability(30) Ratings
The software system supports a centralized authentication mechanism allowing the user to access multiple systems with a single, centrally managed password.
- 9.4Role-based user permissions(34) Ratings
Permissions to perform actions or access or modify data are assigned to roles, which are then assigned to users, reducing complexity of administration.
Reporting & Analytics
Users can report on and analyze usage, performance, ROI, and/or other metrics of success.
- 9.4Dashboards(68) Ratings
Users can create, customize and share dashboards, which provide an overview of the most important metrics.
- 9.5Standard reports(67) Ratings
The software offers pre-built reports with metrics standard to the category.
- 5.7Custom reports(34) Ratings
Users can create custom reports.
General Ledger and Configurable Accounting
Financial management solution, including capabilities for general ledger and configurable accounting
- 9.4Accounts payable(56) Ratings
This includes the automation and tracking of payment to vendors and suppliers, with features such as payment scheduling, check printing, open purchase order alerts, document management, direct ACH bill payment, and vendor records.
- 9.6Accounts receivable(67) Ratings
This includes the management and automation of invoices and collections, with features like statements, invoices, receipts, payment reminders, customer records, auto billing, and refund checks.
- 9.4Cash management(59) Ratings
The software provides a complete picture of a company’s cash flows, streamlines payment processing, and includes cash forecasting.
- 9.6Bank reconciliation(63) Ratings
The software connects to a company’s financial institutions in order to reconcile accounting records with checking, savings and credit card accounts. Often month and year closing capabilities are included.
- 9.6Expense management(61) Ratings
The software can log and track business expenses and reimbursements, including travel-related expenses, with the ability to tie them to particular projects.
- 9.5Time tracking(11) Ratings
The software can track billable and non-billable employee time by project.
- 9.5Fixed asset management(12) Ratings
This includes the ability to track fixed assets (e.g., laptops), including location, check-in and check-out, maintenance scheduling, audit history, specialized property tax period reports, cost and depreciation.
- 10Multi-currency support(19) Ratings
The software supports transactions across multiple currencies.
- 7.1Multi-division support(9) Ratings
The software is flexible and supports bookkeeping practices along multiple dimensions such as locations, branches or products.
- 6.8Regulations compliance(15) Ratings
The software helps users adhere to typical accounting standards and regulations such as IFRS, GASB, or GAAP.
- 5.9Electronic tax filing(14) Ratings
The software provides a full electronic interface for the filing of repeatable taxes, such as payroll or sales tax.
- 1.7Self-service portal(39) Ratings
The software provides online portals for certain stakeholders to find information relevant to them, such as employees, vendors and customers.
- 9Global Financial Support(2) Ratings
Account using multiple ledgers, multiple currencies, and multiple entities
- 7Primary and Secondary Ledgers(4) Ratings
Record and report across multiple currencies and accounting standards with primary and secondary ledgers
- 4Intercompany Accounting(5) Ratings
Automatically balance and reconcile GL for intercompany transactions
- 5.2Localizations(3) Ratings
Meet reporting requirements with country-specific localizations
- 6.2Journals and Reconciliations(28) Ratings
Automate and synchronize ledgers and processes
- 4Enterprise Accounting(7) Ratings
Create accounting for disconnected ERP and non-accounting source systems
- 5.5Configurable Accounting(16) Ratings
Configure accounting rules and segments for each chart of accounts
- 1Centralized Rules Framework(3) Ratings
Integrate disparate ERP and transactional systems into single ERP instance
- 4.3Standardized Processes(17) Ratings
Centralize financial management to facilitate standardized financial processes
Inventory Management
The ability to track and manage the flow of goods or materials into and out of an inventory.
- 5.6Inventory tracking(8) Ratings
The software syncs orders and stock to maintain a real-time picture of inventory and supports multiple methods such as LIFO and FIFO.
- 9.9Automatic reordering(5) Ratings
The software can be set up to automatically reorder a good when it falls below a certain threshold.
- 8.1Location management(2) Ratings
The software can track multiple goods across multiple locations.
- 9Manufacturing module(1) Ratings
The software helps track and manage raw materials, work-in-progress items, and finished goods.
Order Management
The ability to process orders, and track them from quote to cash.
- 9.9Pricing(26) Ratings
Users can set up complex and unique pricing requirements.
- 10Order entry(18) Ratings
Users can enter an order once, and the data flows to all the necessary units such as fulfillment and billing.
- 2.3Credit card processing(45) Ratings
The software facilitates credit card processing.
- 10Cost of goods sold(33) Ratings
The software calculates the direct costs attributable to a finished product, such as materials and labor, and includes roll-up pricing.
- 5.8Order Orchestration(5) Ratings
Define and execute order fulfillment processes for products as well as services on the same order.
- 8.2End-to-end order visibility(4) Ratings
Get updates on orders, inventory, shipments, planned supply, and invoices, and improve the quality of decisions through in-context analytics
- 7Order exception Resolution(2) Ratings
Monitor fulfillment tasks and resolve issues, view and evaluate varios options via what-if analysis and define and enforce change order rules
Product Details
- About
- Competitors
- Tech Details
- FAQs
What is Wave Accounting?
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 |
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Mobile Application | No |
Frequently Asked Questions
Comparisons
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Reviews and Ratings
(172)Community Insights
- Business Problems Solved
- Pros
- Cons
Wave Accounting is a reliable tool for staying up to date with accounting tasks such as creating invoices, tracking payments, and managing financial obligations. Users appreciate how Wave Accounting simplifies these processes, eliminating the need for manual tracking. The software offers an intuitive interface and essential accounting features that make it a popular choice for small businesses. It has been commended for its ability to quickly generate professional estimates and invoices, as well as provide performance insights through flow graphs and profit and loss graphs. Although some users have experienced drawbacks such as limited customer support and lengthy credit card acceptance processes, overall, Wave Accounting has been highly recommended by users who find it valuable for organizing their businesses. It is particularly useful for tracking inventory purchases, sales, expenses, managing independent contractor businesses, and is considered an affordable and powerful solution by accounting professionals in service-based industries.
Comprehensive and Versatile Software: Users have found Wave Accounting to be a comprehensive and versatile solution for bookkeeping and budgeting. It has been praised for its ability to effortlessly track and categorize financial transactions, streamline invoice creation without redundant data entry, as well as generate various financial reports.
Cloud-based Accessibility: The cloud-based nature of Wave Accounting is highly appreciated by users, providing them with easy accessibility from any computer while eliminating concerns about computer glitches or server problems. This feature has been mentioned by numerous reviewers.
Powerful Invoicing Feature: Users have lauded the invoicing feature in Wave Accounting for its power and user-friendliness. They can easily create and send invoices, keep track of due dates, and mark off paid invoices. The software also provides automatic invoice numbering, facilitating quick reference to different invoices.
Horrible Reconciliation Process: Users have expressed frustration with the reconciliation process in Wave, describing it as horrible. They find it difficult to match transactions and suggest a simpler method for reconciliation.
Lack of Customer Support Options: Many users complain about the lack of customer support options in Wave. They mention the absence of phone or chat lines and express frustration with the frequent response to read documentation. Users desire more personalized assistance and quicker ways to resolve their issues.
Limited Reporting Features: Users feel that the reporting features in Wave could be more robust and flexible. They report issues with exporting general ledger items and mention the need for improvements in sorting options for reports. Some users desire preset date options for reports and request further development of this aspect in Wave.
Attribute Ratings
Reviews
(51-75 of 79)Wave: God bless you for your genius
- 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.
Wave Accounting App - Free, easy cloud-based accounting
- Simple to use.
- Cloud based.
- Works on mobile via a web browser.
- They also have an app for invoicing.
- It's an ad supported platform, [with] Google AdSense within the app. Other than that, fairly clean.
Very Small Business Owners, Look No Further than Accounting by Wave
- 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
- 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.
Good Work Wave
- Fast invoicing
- Easy to use
- No more boxes of reciepts
- I would like to see a button feature like the SumUp app.
- A box for prices incl or excl tax for ease of pricing.
- A Mac desktop version of the app. But I can use the website so I'm just being picky.
Great product in the sea of changes to cloud
- Great collaboration tool between our clients and the bookkeeping team
- Wave Receipts is extremely helpful for getting source information details
- The invoice capability is highly valued by our clients
- We have started using the payroll feature and find it easy to implement
- More customization of reports or at least more variety on present default reports
- For us as the collaborating bookkeepers to have ability to run data feed updates from our view
Wave Accounting Review
- The payroll module is fantastic. The entire process is automated and saves considerable time throughout the process.
- The automatic download of bank and credit card transactions into the general ledger saves a considerable amount of time with data entry.
- Allowing customers to pay invoices by credit card directly through Wave allows for faster collection of receivables.
- The reporting features could be more robust as the number of reports are limited and not a flexible as I would like to see them.
- I have run into issues when trying to export general ledger items. There are inconsistencies with the date formats and as a result the information does not export easily.
- Wave invoicing is clean and easy to use to invoice all my clients, including using their mobile app.
- Wave payments is great because you can see the payment details including when the money will deposit into your bank account. It also allows you to save payment methods for recurring payments.
- Wave has excellent customer support, there are various subscription options if you need more dedicated support.
- Wave does a great job of meeting the needs of small business owners by integrating receipts, invoicing, bank import, payroll, and expense tracking.
- There are no preset date options for reports. It would be nice if you could select a quick option when running a report like "this month", "this quarter", "last month", "last quarter". It can bee a little cumbersome to manually enter the dates for a report especially when looking for previous years.
- As a Wave Pro, I have clients who use Wave for Payroll. Under my "collaborator" access I cannot assist them with running payroll or view any payroll reports I have to use their personal login to access payroll. It would be nice to have an option to grant a collaborator more access including Payroll.
- It would be really great to add a credit memo option. That way you could show that a client has a positive balance on their account. I know there are some funky work-arounds for this, but it's not worth the work to use them.
- Bank reconciliation technically exists, but it's not intuitive for someone who is used to reconciling in a desktop software such as Quickbooks.
Wave does not have project management, or timed billing, like some other programs do, so if that is a high priority there may be other accounting software that fit their needs better. The bank reconciliation feature is a little weird so it might not be as strong for corporations that need to keep on top of account balances for tax reporting.
We love WAVE for our Small Business Customers
- So easy to use and set up
- Easy to collaborate with our Clients
- Easy to view reports and share information in meetings with clients
- The journal Entry Feature definitely could use improvements by allowing billable expenses to be posted to a Customer account
- Reporting is still very basic and needs enhancement - ability to generate custom reports is needed
Perfect for Today's SME's.
- Support. There are many similar systems out there but my experiences with Wave's support team is why I will always use this product over the others.
- Payroll. This is an area that can change your business. Harnessing the ease of use of Wave's Payroll Modules allows our company to stay lean and concentrate on growth while providing a premium experience to our awesome employees.
- Invoicing. It may seem trivial but the invoicing modules in Wave, when used correctly are a huge time saver and enhance the overall bookkeeping experience. Not to mention the impression my client's get when they receive a professional invoice via email.
- Sales Tax Automation. I don't even know how this would be possible but as an Ontario resident I would love to explore a way I could create parameters based on certain expenses and automatically add the HST.
- AI for categorizations. Wave does an alright job of taking a guess at the expense categories in the data from our payment accounts. A little more would be a fine addition.
- Speed. Sometimes I find it can be a little sluggish. Not all the time, but some.
Wave hello to a really fine online accounting app, with great support, and it's FREE !!!
I am a huge fan of Wave, as it is easy to set up, connect bank and credit card accounts, has a very good interface for feeding all transactions into Wave, and has a good set of reports available to allow us. and the client be able to quickly get a full view of the financial condition of the company, or the personal accounts.
- Bank and credit card transactions feed seamlessly into Wave. Users don't have to manually enter transactions, and there are no mistakes entering numbers.
- Categorizing transactions is, for the most part, easy and quick to do. Users learn by doing, and therefore grasp a much better understanding of their company's financial condition.
- Users can create sales invoices and purchases, easily keeping track of money owed to them by their customers, and money owed to those they purchase from.
- A broad set of reports is available at the click of a button, allowing instant looks at a wide range of company activity.
- For each company account opened, users get a related Wave account for personal use.
- Wave now offers a fully integrated payroll solution through Wave Payroll, a separate, but connected application.
- Online accounting is the future, and Wave, which was created as an online application, continues to evolve and add new features to make it a better solution.
- Project accounting is probably the most sought-after feature. Being able to individually track revenue and expenses for various events, etc., would be a huge plus.
- A fuller set of reports would be helpful.
- A small consideration, but to be able to view and print a P&L with categories in alphabetical order would be a big improvement. The workaround to export the P&L into Excel and sorting A-Z resolves this issue, but it should be unnecessary.
- Being able to group categories in the P&L, for instance, would be a nice improvement.
Time to burn the shoebox and get your accounting online!
- Invoicing and credit card payment processing - set up and use in minutes with a minimum amount of hassle, even if you've never had a merchant account before!
- Easy to read dashboards with budget comparisons - track progress graphically.
- Weekly progress emails - keeps you informed about cash flow.
- Allows easy separation of Company / Personal transactions for co-mingled accounts - the ideal system for new start-ups and self employed entrepreneurs!
- Tax mapping - it can be a pain having to go through each transaction and specify whether or not to apply sales tax! You should be able to define Income and expense accounts as Taxable and then have the system calculate the tax included in the total automatically!
Wave Is For the Next Generation of Small Business Owners.
- Wave allows small business owners to categorize transactions quickly with their bulk categorize features, filter existing transactions painlessly and reconcile your Wave account to your actual bank institution statements.
- Wave's invoicing feature is super powerful. You can create and send invoices. Even more, you can see if your clients have viewed them even though they may say they didn't. Lastly, the recurring invoice feature with the ability to apply credit card payments is simply AWESOME to use. Streamlining receivables is a challenge every business has, and Wave has solved it.
- In the past, the integration of Stripe with the invoice payment feature of Wave caused issues as while wave would mark invoices paid, the deposit from that invoice payment cause a duplication of the invoice payment. But, with the slow release of the new Wave payment we believe this will solve the existing issue.
Catch the Wave
I have not used Wave with larger entities as of yet.
- Wave excels at separating personal and business expenses for a blended bank account.
- Wave facilitates invoicing and payment.
- Easy interface and small learning curve.
- Ideal for independent contractors.
- Wave is very simple and it meets the needs of clients that it was designed for. If you use the right tool for the right job, it can be a great thing. However, the program is not yet at a stage where I would recommend it to larger entities.
- It has a very easy to learn interface.
- They have a great support team that is quick to answer any questions you might have along the way.
- The core of the service is completely free, so it's a great way to track your finances on a limited budget.
- It has an optional payroll service built-in, which most other competitors don't offer.
- The reports need some work. I would like to see some options for how the data is sorted (either by account number or name).
- The payroll service is a bit limited if you have staff that have varied pay structures or are paid on different schedules.
I wouldn't recommend it to larger companies who need very detailed and customizable reports or who have complex payroll needs.
Easy to use for the right client but doesn't not currently work well with large companies.
- It does a wonderful job of invoicing and billing - great for tracking outstanding receivable and payables.
- Love the ability to add my own general ledger accounts.
- Entering journal entries is easy and provides needed flexibility.
- We need to be able to create a template for general journal entries so that we don't have to enter every line on repetitive monthly entries.
- Need the ability to choose cash or accrual for sales tax reporting.
- Re sales tax liabilities, I really don't want a separate liability account for each sales tax jurisdiction. When I pay, I make one payment for multiple jurisdictions.
- WAVE provides bank and credit card connections, which would be expected for any cloud accounting packages theses days.
- WAVE is always evolving and has an enthusiastic, responsive support team. They seem very willing to earn their customers' loyalty.
- Is can be somewhat clunky to refine the chart of accounts, but there was nothing I couldn't get done with a little one-time working around
- Applying credit card payments is a little clunky, but not excessively so
Wave Accounting Review
- Payroll
- Accepting Credit Cards
- Reporting
- Open API for third-party apps
- Server speed can improve
Great for Startups - easy cashflow insights!
- Automated import of all transactions: saves time, nothing gets lost, no human errors from data entry.
- The android app to scan recipes with seems to be a bit slow.
Wave review
- The price. By far the best product you can get for free. The freemium model gets you a great base product that works well for most small business. In addition if you do need other features like payroll you can pay for those as needed.
- The ability to sync with online debit and credit cards. Setting up an credit card is easy and once you set it up it will go out and fetch the transactions for you everymonth
- The ability to deal with both personal and corporate expenses. My client base is owner managed businesses. These types of business often intermingle both their personal and corporate expenses. With Wave it is very easy for clients to deal with both personal and business expenses. As an accountant this is very useful as it gives me more insight into my clients.
- Chart of accounts. While you can modify the chart of accounts it is really not that straight forward
- Ecosystem. I would like to see more add-ons available
It solves the largest challenge to most business, staying current (by the day) with bank and credit card transactions spanning multiple currencies.
- Dashboard gives a simple to use (and understand) visual snapshot of where the business is, at any point in time
- Automatic import of bank account and credit card transactions across more than one currency
- Recurring billing and taking credit cards are simple and powerful features.
- Support (telephone and online) is Awesome
- Financial reports lack the ability to do period-over-period comparisons
- Missing the functionality needed to get details from the accounts payable aging reports
- You can enter bills (not invoices), but not print them out. In other words all of the functionality that is in invoicing needs to be mirrored in bills.
Catch this Wave - perfect for the freelancer!
- Bank Feeds - just tell Wave what the transaction is for, even if it is a personal transaction
- Financial snapshot - see at a glance how your business is doing
- Wave Payments - get paid on your invoices immediately
- I'd like to see more customization and an increased number of accounts available
- For starters, it's free! And every new business needs to be cost-conscious in order to successfully navigate the start-up phase and get into the Revenue Phase.
- The bank and credit card feeds are tremendously helpful to the non-accountant. Data entry in the bookkeeping industry is being replaced by these automatic transaction feeds. This helps a great deal in ensuring both accuracy and completeness of the bookkeeping records.
- Wave stays with you to help you grow. They offer a (paid) payroll module which allows the business owner to handle basic payroll needs without becoming an expert. Of course, we always recommend consulting a professional to confirm compliance - both legal and regulatory.
- I would love to see a separate transaction feed for CAD and USD accounts. It is tricky right now to properly post transfers and payments between currencies as well as from bank accounts to credit card accounts.
- Adding an invoice number field to the Verify Screen would eliminate the need to post the bill first and then record the payment second.
Wave is very well suited to the self-employed and service oriented small businesses. The ease of creating and sending invoices is matched by the Merchant tool that helps these individuals get paid faster. Incorporated companies should carefully consider the needs of their business before selecting an accounting software. Wave is not designed for manufacturing, complex payroll systems or companies requiring inventory tracking.
Wave Review
- Easy to use
- Great invoicing module
- Accepting payments on the go
- Third party integrations
BookSmarts reviews Accounting by Wave
- Bank or credit card interface - allows users to connect to their financial institutions and download transactions directly into the software. This ensures that nothing is missed. The user needs to review and accept transactions for final posting so no entries are entered without their review.
- HST reporting - as many new businesses start as annual filers, tracking HST owing is a critical piece. The ability to separate and track HST in the software takes the guesswork out of how much money the client needs to set aside.
- The user interface is very friendly and walks the user through setting up the software. This may seem like a small piece, but for someone who has never managed books and perhaps never managed a business before, a friendly interface is just the thing to keep them from running for the hills!
- Well, I have to say it...it's FREE! There is an advertising sidebar and there are a couple of pay for use add-ons such as payroll and credit card processing but they are optional and economical.
- There is a smartphone app that interfaces with the client datafile and which allows for invoicing customers on the road, reducing paperwork and speeding up collections. Invoices look polished and professional.
- I would like to see the bank reconciliation module fleshed out. There is a basic version but no reconciling screen.
- Their is an optical character recognition app called "Receipts by Wave" that try as I might, I just can't seem to get it to work. Some further development there would be nice.
In Simcoe County where my practice is located, we have many rural areas which don't have high-speed internet, so I don't recommend any cloud-based software for those clients who are still on dialup or whose internet would more appropriately be named "intermittentnet".
- Bank feeds
- Bank reconciliation
- Bulk categorisation
- UK payroll
- Sales tax for special UK schemes such as the Flat Rate Scheme and Cash Accounting
- Recurring and copying bills