Overall Satisfaction with Accounting by Wave
We utilize Wave across the company to manage expenses, invoicing, credit card processing, and 1099 employee payroll tracking. Having one application to handle all these transaction makes the accounting side of the business far less of a headache and with the recent updates it's even easier to navigate.
- Crisp, clean invoices, and I particularly like the ability to customize the invoice to fit our needs.
- Custom reporting tools so we can slice & dice our data as needed.
- Overall interface is incredibly easy to navigate through and you don't have to be a professional accountant or book keeper to make sense of everything.
- Offering a recurring payment option, credit card processing, and ACH payment options with customer online payment options as well has made our life much easier with the repeat accounts we manage.
- Adding customers profiles is simple and can be done right in the new invoice tool
- Setting up vendors is quick and easy to associate to various payable/receivable accounts is simple.
- Not too much to complain about with Wave although I do wish they kept an audit trail of all invoice reminders sent, changes in the invoice, and have the ability to pull reports with this data. This functionality would be great to review clients as a whole to determine profitability and time spent with these clients.
- 9% processing fees for all cards which is a bit higher than some of the competitors like Blue Pay. The pro to this though is there's no monthly commitment or monthly service fees.
- Being as it's free software to use I'd say implementing wave has been a positive return for the business.
- Providing us the ability to process credit cards over the phone has increased our turn time to receive payments thus saving time overall which equates to $1,000's a year
Across the board Wave takes the cake on price at $0/mo aside from payroll fees and credit card processing. That aside I'd say most accounting systems are fairly similar, however what I like about Wave is just how simple the interface is and the outstanding customer support from both the community and the company.
Wave is an excellent option for small start-up businesses since it's a free application, comparable to others like Xero & Quikbooks, and integrates with most major banks. Where I would see considering to move platforms is when you have more than 10 employees and multiple accounts to balance which at that point may be a good time to consult a book keeper and consider switching software if needed. Side note Wave offers a list of local bookkeeping professionals that work with Wave software in your area so you wouldn't have to change systems.
Wave Accounting Feature Ratings
Evaluating Accounting by Wave and Competitors
- Product Features
- Product Usability
Ease of use, expansion abilities, and all in one payroll, bookkeeping, and invoicing.
Accounting by Wave Support
Problems get solved
Kept well informed
No escalation required
Immediate help available
Support understands my problem
Support cares about my success
Quick Initial Response
No - They stand behind their product and understand the struggles of a small business owner, after all they were one in the beginning.