Wave Accounting, perfect solution for my businesses.
January 08, 2018
Wave Accounting, perfect solution for my businesses.
Score 10 out of 10
Vetted Review
Verified User
Overall Satisfaction with Accounting by Wave
I use Wave in my firm (Two Gems Consulting Services) to manage cash-based accounting and track invoices and payments to vendors for projects that amount to around $200K annually and also as the volunteer head of BYI High School for our 4 years of operation and still manage our funds there while the school is on hiatus. Neither concern has departments. Recently, an organization I serve as a board member for took up using Wave and I was glad to see it.
- The invoicing is easily personalized and works well with both online delivery and with downloaded .pdf files for those who prefer to have direct invoicing from our firm.
- The billing system makes it easy to track payments to contractors by project, however, it would be great to have a full 1099 solution. The payroll system worked well for us for several years, however, there were some bumps and learning curves. I am not using it at this time.
- We have a few clients who use the direct payment options and while that costs us a few percentage points (and on the size of our contracts it seems to be a hefty slice), it's still worth it for the piece of mind to get the funds in rapidly. The rates are fairly competitive compared to what we usually.
- It's useful to be able to assign access to team members or collaborators.
- Transaction coding could be smoother and offer better search options.
- Flagging payments before transactions have been uploaded means you have to delete the old notice in order to connect the transaction to an invoice and the billing (expenses) system is always a few steps behind invoices (sales)
- 1099 tracking and submission would be much appreciated!
- Helps keep boring cash accounting more orderly and professional. I could use spreadsheets, but why?
- Saves money over other options, with a nice UI.
Wave was more affordable and we were already using it for accounting. The services offered are comparable and quite reliable.