Good Accounting Software for SME's
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 …
Wave Accounting
Wave Accounting
Overview
Recent Reviews
Reviewer Sentiment
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Awards
Popular Features
View all 44 featuresAccounts 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 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 Systems | Unspecified |
|---|---|
| Mobile Application | No |
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 are Wave Accounting's top competitors?
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 and Ratings
(155)
Reviews
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January 13, 2022
Good Accounting Software for SME's
- Improved our invoicing
- Payment process easier
- Streamlined our processes
November 08, 2021
Wave accounting FRAUD and malicious practices.
- Completely bankrupt my company
August 17, 2021
Wave Accounting Review
- 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.
- Wave made tracking payable and receivable accounts easy.
- Wave is easy to use for non-accountants, so you don't have to pay a bookkeeper/account to manage things you can track with the software.
May 03, 2021
Wave is user friendly - easy to use!
- Wave makes it easy to connect electronically with my customers through invoicing and payments.
- Wave makes it simple to track my expenses and run end of year reports for my accountant.
April 29, 2021
Wave Accounting Software
- 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.
- Negative impact! Now I have to export my transactions into another program!
December 03, 2020
Avoid Waveapps if you are a non-profit
- 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.
March 16, 2020
Wave Accounting - great for micro businesses
- None.
March 03, 2020
Awful Software and Support
- Horrible - caused days and days or reworking transactions and understanding reporting
- Free is the very best ROI one can get.
- The software was super simple to implement, so not much time taken--another ROI plus.
January 29, 2020
Very Affordable Accounting Software
- Very affordable software!
- Completely based online so it doesn't take up any space.
December 17, 2019
A great, cheap option for small organizations!
- I like being able to give clients options outside of QuickBooks.
- I like being able to save clients money.
December 13, 2019
Robust, Easy Accounting Software - And It's Free!
- It has helped me to see the profit I have made over the past year, and what I should profit more in.
- Calculating my estimated chargeable Income for my country is easy.
December 05, 2019
Great tool for small business, non profits and entrepreneurs
- Free and easy to use, has saved time and money.
- Easy access by our accountant/board as it's online which saves time.
- Many tutorials so on-boarding team members is easy
- 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.
December 04, 2019
Easy to use for someone without accounting or business experience
- Time saving
- Easy to learn and use
- Easier to use after my credit union was added as a linking option
December 04, 2019
Wave has helped me grow my business by saving me time and helping my invoices get paid
- Wave helps me easily run my business.
- I wouldn't have been able to grow my business in the way I have without Wave.
November 20, 2019
Riding the Wave (Accounting)
- It's been a positive ROI, considering I don't spend any money to use this app.
October 29, 2019
Free Wave Accounting hits the spot for small businesses
- 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.
October 29, 2019
A Simple Invoicing Software for Freelancers
- Wave has made it easy for me to collect payment and not send emails back and forth.
- Reminders that are automatically sent help me collect on time.
- 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.
October 25, 2019
Quick-start your accounting!
- 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.
- Hard to measure ROI properly when Wave holds your receivables that come through a Company ACH (we do B2B transactions).
August 03, 2019
Not a Wave you Want to Ride
- 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.