TrustRadius
Wave is a great small business solution
https://www.trustradius.com/accountingWave AccountingUnspecified8.8108101
Kristy Nittskoff profile photo
November 01, 2018

Wave is a great small business solution

Score 9 out of 101
Vetted Review
Verified User
Review Source

Overall Satisfaction with Accounting by Wave

As a business owner, I use Wave to track and categorize expenses, pay vendors and freelancers, and send and categorize invoices. I provide a separate logon for my accountant so that they can pull information during tax time. Wave eliminates any need for manual tracking since it connects directly with my business credit card and checking account. It also provides a helpful dashboard that tracks earnings and expenses. You can pull financial reports easily, as well.
  • tracks and categorizes financial transactions with a direct link to bank accounts and credit cards - helpful since there is no manual input outside of verifying that a category is correct
  • easily creates invoices without the need to input customer information more than once. you can also send directly from the platform and toggle the option to accept credit card and ACH payments
  • creates financial reports with ease
  • connection to bank sometimes lags - you can refresh the connection but it takes a minute or two to update
  • sometimes invoices are categorized as sales versus consulting income - you really have to look and change it to the appropriate income account. once an invoice is recorded as paid, you can change the income account
  • Wave has a tendency of not accepting a saved password, forcing users to reset a password that is knowingly valid. Using Single Sign On eliminates this but it's still annoying.
  • eliminated potential need for an external bookeeper
  • eliminated need for external income / expense tracking
  • allowed me to keep all invoices and payments in one place
Wave is great for a small consulting shop like mine. I'm sure that there are more sophisticated systems out there but I have a limited number of expenses and invoices each year - for me, Wave meets my needs. They've made significant improvements to their dashboard over the past three years and have not changed the cost (FREE for my instance).

Wave Accounting Feature Ratings

Accounts payable
10
Accounts receivable
10
Cash management
8
Bank reconciliation
9
Expense management
Not Rated
Fixed asset management
Not Rated
Multi-currency support
Not Rated
Multi-division support
Not Rated
Regulations compliance
Not Rated
Self-service portal
10
Global Financial Support
Not Rated
Primary and Secondary Ledgers
Not Rated
Intercompany Accounting
8
Localizations
10
Journals and Reconciliations
Not Rated
Enterprise Accounting
Not Rated
Configurable Accounting
10
Centralized Rules Framework
Not Rated
Standardized Processes
10
Inventory tracking
Not Rated
Automatic reordering
Not Rated
Location management
Not Rated
Manufacturing module
Not Rated
Pricing
Not Rated
Order entry
Not Rated
Credit card processing
Not Rated
Cost of goods sold
Not Rated
Order Orchestration
Not Rated
End-to-end order visibility
Not Rated
Order exception Resolution
Not Rated
Pay calculation
Not Rated
Benefit plan administration
Not Rated
Direct deposit files
Not Rated
Salary revision and increment management
Not Rated
Reimbursement management
Not Rated
Dashboards
8
Standard reports
8
Custom reports
Not Rated
API for custom integration
Not Rated
Plug-ins
Not Rated
Role-based user permissions
9
Single sign-on capability
10