Easy Integrated and Low Cost Accounting Solution for Small and Mid Size Businesses
June 20, 2018
Easy Integrated and Low Cost Accounting Solution for Small and Mid Size Businesses
Score 8 out of 10
Vetted Review
Verified User
Overall Satisfaction with Accounting by Wave
Accounting by Wave has been an integral element of my business since I've been a part-time sole prop and stayed with me as a tool of choice as I moved into an S-Corporation. I use Accounting for invoicing, bookkeeping, receipt and expense management and to have a better idea of my cash flow. It pulls reports directly in from my bank and helps me assign expenses easily and resolve my books each month.
Pros
- Wave is a wonderful integrated solution offering invoicing, bookkeeping, and cash flow analysis along with bank integration that auto updates.
- Wave is a payment solution provider with an industry standard rate of 2.9ish% for credit card transactions and provides a good analysis for me as to when I typically get paid.
- Wave pulls common data for me in building a customized branded invoice, allowing me to make the invoice process faster by adding repeat customers and listing my graphic design services.
Cons
- Wave is owned by ADP and integrates well, but I'm less of a fan of ADP these days, so I'll need to work out how it'll work out with alternate payroll providers.
- The app for Wave has some great functions, but the website has much more complete integration, where you can 'skip' sending an invoice if you're just using it to track invoices for retainer-based clients.
- The receipt tracking app is separate from the accounting app, and could possibly be integrated better.
- Wave has removed several of the stresses of running my own business and helped me collect payment from a variety of local and national clients in one easy space.
- Wave has helped give me eyes in on how my money has been allocated, and how the business expenses have been tracked.
- Wave is a good self-service tool, that can do much of the work Quickbooks does for others, but as a free solution provider.
Wave is better in being my one place to go for collecting payments. PayPal is nice if you're on the road collecting payments through their app and using PayPal Here, but if you would like to keep invoicing in the same place as your bookkeeping, I think Wave is a better-integrated solution.
Comments
Please log in to join the conversation