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Wave Is For the Next Generation of Small Business Owners.
Updated November 11, 2015

Wave Is For the Next Generation of Small Business Owners.

Will Lopez | TrustRadius Reviewer
Score 10 out of 10
Vetted Review
Verified User

Software Version

Web based Wave Accounting

Modules Used

  • Transactions, Invoices, Payroll, Bills, Reports, Accounting.

Overall Satisfaction with Accounting by Wave

Our company has been using Wave Accounting since it first started. It allowed us to fully manage our records on the accrual basis of accounting. We were so impressive that we could email clients invoices, see that they were being viewed or not, and have our clients pay us in real time. In addition, the guest collaborator feature is what allowed us to help other wave users set up their accounts, demonstrate the full double entry features of the platform. Wave accounting addresses the issues small businesses have in keeping their records in real-time. Wave helps dramatically with providing a Balance Sheet and Income Statement, tracking and allocating expenses to the proper categories. Wave helps with payroll for our employees and remitting payroll taxes to the appropriate tax agencies with ease. Wave accounting has changed our business and our lives, and we are eternally grateful for the platform. Go Wave, go!
  • Wave allows small business owners to categorize transactions quickly with their bulk categorize features, filter existing transactions painlessly and reconcile your Wave account to your actual bank institution statements.
  • Wave's invoicing feature is super powerful. You can create and send invoices. Even more, you can see if your clients have viewed them even though they may say they didn't. Lastly, the recurring invoice feature with the ability to apply credit card payments is simply AWESOME to use. Streamlining receivables is a challenge every business has, and Wave has solved it.
  • In the past, the integration of Stripe with the invoice payment feature of Wave caused issues as while wave would mark invoices paid, the deposit from that invoice payment cause a duplication of the invoice payment. But, with the slow release of the new Wave payment we believe this will solve the existing issue.
  • The positive ROI we have had to the support the billing concept that we recur bill and using Wave allows us to not only do that, but manually apply client payments to the recurring invoices. This is crucial for us as collectibility of fees can be a major hangup.
For any small business, Wave accounting is by far the most friendliest solution for those who know little accounting. Easy to use, easy to manage, and easy to share.
Wave accounting is well suited for companies who don't have to deal with 'manufacturing accounting' or wanting to create separate income statements for different departments of the Organization.

Wave Accounting Feature Ratings

8.7
Accounts payable
10
Accounts receivable
10
Cash management
8
Bank reconciliation
10
Expense management
8
Time tracking
8
Fixed asset management
5
Multi-currency support
10
Multi-division support
10
Regulations compliance
8
Electronic tax filing
7
Self-service portal
10
Inventory Management ()
Not Rated
9.0
Credit card processing
10
Cost of goods sold
8
9.8
Pay calculation
9
Direct deposit files
10
Salary revision and increment management
10
Reimbursement management
10
10.0
Dashboards
10
Standard reports
10
6.0
API for custom integration
6
Plug-ins
6
8.5
Role-based user permissions
7
Single sign-on capability
10

Using Accounting by Wave

5 - Users and out-sourced accountants.
5 - General accounting background to understand the mechanics of Wave accounting. No real accounting expense in order to use the platform, but to fully use all features appropriately some accounting experience would be nice.

Evaluating Accounting by Wave and Competitors

Yes - Wave Accounting replaced Quickbooks. We wanted a more progressive accounting software that was easy to use and understand.
  • Product Usability
  • Product Reputation
  • Prior Experience with the Product
  • Analyst Reports
Product usability, primarily the simple user interface and dashboard was a major factor in our decision.
If I had to do it again, I should have considered wave's invoicing feature which is stronger than the easy interface. It would have allowed us to make a faster decision to go with wave.

Accounting by Wave Implementation

Accounting by Wave Training