Catch this Wave - perfect for the freelancer!
May 09, 2015

Catch this Wave - perfect for the freelancer!

Elaine Orr Morgan | TrustRadius Reviewer
Score 8 out of 10
Vetted Review
Verified User

Software Version

Wave

Overall Satisfaction with Accounting by Wave

Wave is being used by many of our freelance and sole proprietor clients, especially those who still mingle their business income and expenses with their personal income. The business owner is able to prepare and send invoices, receive payments and record expenses, enabling them to keep on top of their financial position

Pros

  • 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

Cons

  • I'd like to see more customization and an increased number of accounts available
  • It has helped more members of the small business community find me
  • It is very efficient for the freelancer to use
  • The customer services is fantastic
  • QuickBooks Online,Freshbooks,Xero,Sage One
Wave has advanced from its early days by adding features that put it on a parallel with the bigger software packages such as QuickBooks and Xero. It doesn't have time tracking like FreshBooks does but it brings a lot more to the table in terms of financial reporting.
Accounting by Wave is definitely well-suited to the freelancer or "single-shingle" business owner. Its versatility and ease of use, coupled with accurate accounting procedures and bank reconciliations will help most solopreneurs stay on top of their financials. It also shows the Balance Sheet which some other "cloud accounting" packages don't.

Wave Accounting Feature Ratings

8.0
Accounts payable
9
Accounts receivable
9
Cash management
9
Bank reconciliation
8
Expense management
9
Time tracking
Not Rated
Fixed asset management
8
Multi-currency support
5
Multi-division support
Not Rated
Regulations compliance
8
Electronic tax filing
6
Self-service portal
9
Not Rated
Inventory tracking
Not Rated
Automatic reordering
Not Rated
Location management
Not Rated
Manufacturing module
Not Rated
8.3
Pricing
10
Order entry
Not Rated
Credit card processing
8
Cost of goods sold
7
Not Rated
Pay calculation
Not Rated
Benefit plan administration
Not Rated
Direct deposit files
Not Rated
Salary revision and increment management
Not Rated
Reimbursement management
Not Rated
7.0
Dashboards
7
Standard reports
7
Custom reports
7
Not Rated
API for custom integration
Not Rated
Plug-ins
Not Rated
6.5
Role-based user permissions
5
Single sign-on capability
8

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