WAVE is a good choice for freelancers, small businesses
Updated May 20, 2015

WAVE is a good choice for freelancers, small businesses

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

Overall Satisfaction with Accounting by Wave

WAVE is used by some of my small business accounting clients. It is a good fit for new businesses with straightforward bookkeeping and financial reporting needs,and perhaps some payroll services, such as freelancers and start ups. Unlike some free accounting softwares, WAVE does provide a balance sheet as well as a profit and loss - very important for correct tax reporting.

Pros

  • WAVE provides bank and credit card connections, which would be expected for any cloud accounting packages theses days.
  • WAVE is always evolving and has an enthusiastic, responsive support team. They seem very willing to earn their customers' loyalty.

Cons

  • Is can be somewhat clunky to refine the chart of accounts, but there was nothing I couldn't get done with a little one-time working around
  • Applying credit card payments is a little clunky, but not excessively so
  • WAVE has brought me more client inquiries than any other software, and most have become some of my favorite clients, even though they may not be very large companies at the moment.
  • QuickBooks Online,QuickBooks Premier,QuickBooks Pro,Xero
WAVE is not as fully featured as Quickbooks, for example, but few small businesses use QB to its fullest, anyway. WAVE does well what most small business owners need done. Similar in many ways to QuickBooks Simple Start.
A good fit for small businesses with straightforward bookkeeping needs and lite payroll. Probably not the best for companies with multiple locations, though it could work for that, too. I am not familiar with its capabilities for manufacturing companies, but that is not to say it wouldn't work - just that I have not used it for that.

Wave Accounting Feature Ratings

5.8
Accounts payable
6
Accounts receivable
7
Cash management
6
Bank reconciliation
6
Expense management
5
Multi-division support
5
Regulations compliance
5
Self-service portal
6
Not Rated
Inventory tracking
Not Rated
Automatic reordering
Not Rated
Location management
Not Rated
Manufacturing module
Not Rated
5.0
Pricing
4
Order entry
5
Credit card processing
6
Cost of goods sold
5
6.0
Pay calculation
6
Direct deposit files
6
Salary revision and increment management
6
Reimbursement management
6
5.5
Standard reports
6
Custom reports
5
6.0
API for custom integration
6
Plug-ins
6
6.0
Role-based user permissions
6
Single sign-on capability
6

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