Wave Accounting

Wave Accounting

About TrustRadius Scoring
Score 6.8 out of 100
Wave Accounting

Overview

Recent Reviews

Good Accounting Software for SME's

9
January 13, 2022
We use Wave Accounting for all the financial data of the organization (SME.) The payroll, however, was outsourced. The product addresses a …
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Wave Accounting Review

1
August 17, 2021
Went from Rave to RIOT over payout holdups. [It seems like] they've delayed my money countless times. They suspend payment, asking for …
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Wave Accounting Software

8
April 29, 2021
I have used Wave for eight years, and discovered it soon after starting my business. I am the owner, and use it weekly for my company. It …
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Reviewer Sentiment

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Awards

TrustRadius Award Top Rated 2020
TrustRadius Award Top Rated 2019
TrustRadius Award Top Rated 2018

Popular Features

View all 44 features

Accounts receivable (66)

5.9
59%

Dashboards (67)

5.8
58%

Standard reports (66)

5.8
58%

Bank reconciliation (62)

5.0
50%

Reviewer Pros & Cons

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Video Reviews

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Pricing

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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 Zoho Books?

Zoho Books is an accounting solution that is designed to help small businesses manage their finances. This solution includes dashboards and a wide variety of reports. Business users can automate tasks and set up custom workflows. The vendor offers a 14 day free trial.

What is Sage Business Cloud Accounting?

Sage Business Cloud Accounting (formerly Sage One Accounting) is online accounting software made to simplify life for small business owners, entrepreneurs, and freelancers by providing the functions needed to take care of daily business to-dos. Users can create and send professional quotes and…

Features Scorecard

Payroll Management

6.7
67%

Customization

8.3
83%

Security

6.8
68%

Reporting & Analytics

6.5
65%

General Ledger and Configurable Accounting

5.4
54%

Inventory Management

8.1
81%

Order Management

7.2
72%

Product Details

What is 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 Video

Grow Your Business With Wave

Wave Accounting Competitors

Wave Accounting Technical Details

Operating SystemsUnspecified
Mobile ApplicationNo

Comparisons

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Frequently Asked Questions

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.

What is Wave Accounting's best feature?

Reviewers rate Automatic reordering highest, with a score of 9.9.

Who uses Wave Accounting?

The most common users of Wave Accounting are from Small Businesses (1-50 employees) and the Accounting industry.

Reviews

(1-25 of 73)
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August 17, 2021

Wave Accounting Review

Score 1 out of 10
Vetted Review
Verified User
Review Source
  • There was no outward investment. But [I feel] they've negatively impacted my cash flow since around the fourth month of being paid through them.
  • I've been paid with them for over a year and a half. I was going to get Wave Debit but [I was concerned about payment timelines] so I told them I wouldn't be submitting the additional IRS docs. The next (current) month I'm [waiting] the maximum estimated days for payment. They still claim "there's nothing they can do" it's the bank system.
  • You never know what your payout day will be. And [I feel] their support is not open when you REALLY need support.
Rachelle Smith | TrustRadius Reviewer
Score 8 out of 10
Vetted Review
Verified User
Review Source
  • 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.
  • I am glad I trusted Wave at the onset of my business.
Score 1 out of 10
Vetted Review
Verified User
Review Source
  • Many hours spent trying to reconcile. After the advisor had issues, we found another product to use.
  • I like the ability to create products and have a custom URL for credit card payments.
  • Didn't understand their internal way of dealing with transactions and that is critical to reconcile bank statements.
Ashley Mumm | TrustRadius Reviewer
Score 7 out of 10
Vetted Review
Verified User
Review Source
  • I looked more professional since I have nicely put together bids.
  • Was able to take payments when a client couldn't do cash or check and the processing fee was nominal/market rate.
  • I could send reminders of outstanding invoices easily.
Patrick Contreras | TrustRadius Reviewer
Score 9 out of 10
Vetted Review
Verified User
Review Source
  • Wave Accounting eliminated the reliance on spreadsheet accounting. Allowing us to eliminate lots of spreadsheet time which has provided a good return on our investment into Wave. We were paying a staff person to work in our spreadsheet accounting which didn't allow for the person to be billable. Now the staff person has moved into the billable hours area with less work in the accounting area.
  • Wave Accounting allows us to provide a much quicker invoicing system with easy to use payment features for our customers. The positive impact on our cash flow has been very helpful to our business. We are no longer waiting 30 to 45 days for payments. On average, our customers are paying 5 to 7 days after receiving an invoice.
Megan Ronecker | TrustRadius Reviewer
Score 10 out of 10
Vetted Review
Verified User
Review Source
  • Invoices look very professional and provide a secure place for clients to enter in their credit card information.
  • Being able to set a reminder for invoice payments ensures I get paid on time and that I don't have to hassle my client for anything.
  • Their income/expenses chart helps me easily see if I'm over budget for spending or over the goal of income for the month so I can adjust next month accordingly.
Tiffany Rachann | TrustRadius Reviewer
Score 7 out of 10
Vetted Review
Verified User
Review Source
  • Because Wave is free to use it's not made a negative impact per se' however the fees associated with each transaction (if you aren't a frequent user) could be a deal-breaker.
  • The app itself offers a ton of features and is a time-saver, giving it a positive impact.
Score 1 out of 10
Vetted Review
Verified User
Review Source
  • 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.