Wave Accounting
Wave Accounting
Wave Accounting
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.
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Awards
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Popular Features
View all 44 features- Accounts receivable (67)6.666%
- Standard reports (67)6.565%
- Bank reconciliation (63)6.464%
- Dashboards (68)6.464%
Reviewer Pros & Cons
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Pricing
View all pricingEntry-level set up fee?
- No setup fee
Offerings
- Free Trial
- Free/Freemium Version
- Premium Consulting / Integration Services
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Product Demos
Grow Your Business With Wave
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Features
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Product Details
- About
- Competitors
- Tech Details
- FAQs
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 |
Frequently Asked Questions
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.
Reviewers rate Multi-currency support and Order entry highest, with a score of 10.
The most common users of Wave Accounting are from Small Businesses (1-50 employees).
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Reviews and Ratings
(163)
Attribute Ratings
Reviews
(1-4 of 4)- Popular Filters
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June 08, 2016
Great product in the sea of changes to cloud
We have several clients that use Wave Accounting and utilize our bookkeeping services monthly. We set the client up in Wave train them and for some handle monthly work.
- 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
82.85714285714286%
8.3
100%
10.0
40%
4.0
90%
9.0
70%
7.0
80%
8.0
85%
8.5
- Easy onboarding of clients
- Have received quite a few leads from the pro services push
- Support has been excellent
5
June 08, 2016
Wave Accounting Review
Wave is being used for my entire organization as we use it for the general ledger, A/R and payroll. It automates many tasks saving our organization time and money. With other software we spent considerable time entering payroll, writing cheques to employees and submitting government remittances. Wave has streamlined this process since employees are paid directly to their bank accounts and government remittances are automatically paid.
- 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.
46.66666666666667%
4.7
N/A
N/A
47.5%
4.8
100%
10.0
46.66666666666667%
4.7
N/A
N/A
100%
10.0
- Increased staff efficiencies
- Increased customer service
Wave accounting does not have as many features as Quickbooks or Sage 50 but it holds it's own with the market it serves. I use Wave primarily for the payroll functionality and i have recommended that clients who use Sage 50 or Quickbooks use Wave for it's payroll. The importing of the bank transactions is also a great feature but the other competitors have caught up to Wave on this feature. Overall it is a great tool, but only for the right type of client.
1
0
- Vendor implemented
March 16, 2016
We love WAVE for our Small Business Customers
We use Wave Software for our small business clients who are getting started and need efficient and easy to use accounting software to manage their business finances, process payroll and have support for income tax preparation.
- 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
52.5%
5.3
N/A
N/A
N/A
N/A
N/A
N/A
60%
6.0
N/A
N/A
50%
5.0
- Works very well with our small business customers so we are pleased
entry level software - does not yet compare to XERO
7
Accounting
Tax
Planning
Analytics
4
Understanding what types of analytics clients need to see in their WAVE account
Setting up bank feeds
customizing Chart of Accounts
POsting Manual Jounals
- Start-ups
- Mobile workforce
- Virtual Teams
- Fractional CFO
- none so far
- more mature companies as WAVE evolves
March 16, 2016
Perfect for Today's SME's.
Wave is used in all aspects of our administration at ZonedIn and Galbro. It is used for payroll, invoicing, bookkeeping, HST (Sales Tax) management, financial reporting and business analysis. Wave has streamlined the way we collect, prepare, and analyze our financial data. It also provided us with an easy to use tool to manage all other areas of our business administration including invoicing, payments and payroll. By connecting all of our accounts to Wave we've been able see everything in real time versus more traditional accounting systems and we've saved time, money and headaches.
- 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.
58.18181818181819%
5.8
N/A
N/A
N/A
N/A
80%
8.0
66.66666666666667%
6.7
N/A
N/A
N/A
N/A
- Increased administrative efficiency. Between using Wave and Wave Pro we've saved more than really quantifiable.
Day and night. I found QuickBooks Legacy for Enterprise clunky and outdated and the user experiences are without compare.