Wave review
May 12, 2015
Wave review
Score 7 out of 10
Vetted Review
Verified User
Software Version
waveapps
Overall Satisfaction with Accounting by Wave
I have used this for my own organization and have also helped several of my clients implement it for themselves. It has been used primarily for expense reporting. We use the software to sync with online bank and credit card information to eliminate the need for data entry. We also use the invoicing tool. However we have not used any of the payroll features.
- The price. By far the best product you can get for free. The freemium model gets you a great base product that works well for most small business. In addition if you do need other features like payroll you can pay for those as needed.
- The ability to sync with online debit and credit cards. Setting up an credit card is easy and once you set it up it will go out and fetch the transactions for you everymonth
- The ability to deal with both personal and corporate expenses. My client base is owner managed businesses. These types of business often intermingle both their personal and corporate expenses. With Wave it is very easy for clients to deal with both personal and business expenses. As an accountant this is very useful as it gives me more insight into my clients.
- Chart of accounts. While you can modify the chart of accounts it is really not that straight forward
- Ecosystem. I would like to see more add-ons available
- Saves time
- Simplifies reporting for compliance purposes
Xero and QBO.
In my opinion Xero is the best platform. However, it is not cheap. While Wave does provide as gret an experience or as much functionality it does provide the necessities for free. This is great for small or new business who would otherwise be doing their bookkeeping in a spreadsheet
In my opinion Xero is the best platform. However, it is not cheap. While Wave does provide as gret an experience or as much functionality it does provide the necessities for free. This is great for small or new business who would otherwise be doing their bookkeeping in a spreadsheet