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Time to burn the shoebox and get your accounting online!
Updated December 23, 2015

Time to burn the shoebox and get your accounting online!

Dave Greene | TrustRadius Reviewer
Score 8 out of 10
Vetted Review
Verified User

Overall Satisfaction with Accounting by Wave

Wave allows fast and easy email invoicing with built in credit card payment processing through Stripe. The dashboard with budget comparison as well as the weekly progress emails allow us to see exactly how the cash is flowing. The sales tax reports provides timely information on both sales tax collected and Input Tax Credits (ITC's).
  • 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!
  • Improved cash flow with on line credit card payments. Though Stripe initially requires seven days to process transactions, once you've put a couple of months sales through you can contact them directly and they can cut the processing time down to four days (two in the US).
The convenience of being able to manage business and personal expenses through bank and credit card accounts is one tremendous advantage Wave has over its competition. It's the go to on line software for start-ups, self employed and anyone who needs that feature.
The second major advantage is price - Wave is Free!
For startups, self-employed, proprietors and partners who are using one bank account for personal / business banking Wave is the solution you're looking for. Another advantage for startups is you can start processing credit card payments on line immediately - with only a three question application! No pledging the life of your first born child to the major banks to establish a merchant account!

Wave Accounting Feature Ratings

8.5
Accounts payable
Not Rated
Accounts receivable
10
Cash management
10
Bank reconciliation
9
Expense management
5
Time tracking
Not Rated
Fixed asset management
Not Rated
Multi-currency support
Not Rated
Multi-division support
Not Rated
Regulations compliance
Not Rated
Electronic tax filing
Not Rated
Self-service portal
Not Rated
Not Rated
Inventory tracking
Not Rated
Automatic reordering
Not Rated
Location management
Not Rated
Manufacturing module
Not Rated
10.0
Pricing
Not Rated
Order entry
Not Rated
Credit card processing
10
Cost of goods sold
Not Rated
10.0
Pay calculation
10
Benefit plan administration
10
Direct deposit files
10
Salary revision and increment management
10
Reimbursement management
Not Rated
10.0
Dashboards
10
Standard reports
10
Custom reports
Not Rated
Not Rated
API for custom integration
Not Rated
Plug-ins
Not Rated
Not Rated
Role-based user permissions
Not Rated
Single sign-on capability
Not Rated

Using Accounting by Wave

1 - Accounts Receivable, sales tax reporting
1 - Good understanding of bookkeeping essentials!

Accounting by Wave Implementation

Using Accounting by Wave