Need ACH or B2B? Re-evaluate using Wave, it may not be the best option.
October 03, 2019
Need ACH or B2B? Re-evaluate using Wave, it may not be the best option.
Score 5 out of 10
Vetted Review
Verified User
Overall Satisfaction with Wave Accounting
We are using it as company-wide after QuickBooks upped their pricing. We started with Wave Accounting 3 years ago but transitioned to QuickBooks for a period of time. Then, as I mentioned, once QuickBooks upped pricing we decided to move back to Wave. Upon returning, we were pleasantly surprised by the updates made in the time we were away, recurring invoicing being one of them. The look and feel of it changed, and it looked much better than before.
- Accounting is #1 of what they do. It does appear they want to compete and take market share from QuickBooks.
- Simple invoicing and estimations.
- Automatic follow up on invoices is great.
- Support. They have no phone support. All of it is done via chat and you tend to get canned answers.
- ACH Processing Time. 7+ business days to process an ACH is not very manageable for a business. As a former banker, they say the problem is with your bank or the client's bank - however, that's not true. They have the money from an ACH within 1 business day.
- Hard to measure ROI properly when Wave holds your receivables that come through a Company ACH (we do B2B transactions).
Honestly, it stacks up pretty good except for the ACH transactions. With QuickBooks, ACH transactions were in my account in 2 business days at the 1% charge (that both companies charge).
The support is similar on both sides. I spent 18 days trying to cancel my QuickBooks account and there is no phone number anywhere until I canceled the last time and got a number to call which tried to upsell me. Wave has NO phone numbers and support does not give out any numbers to any departments.
The support is similar on both sides. I spent 18 days trying to cancel my QuickBooks account and there is no phone number anywhere until I canceled the last time and got a number to call which tried to upsell me. Wave has NO phone numbers and support does not give out any numbers to any departments.