Quick-start your accounting!
Tiffany Rachann | TrustRadius Reviewer
October 24, 2019

Quick-start your accounting!

Score 7 out of 10
Vetted Review
Verified User
Review Source

Overall Satisfaction with Wave Accounting

We use wave for its essential accounting functions such as invoicing, payment receipts, and to track business-related purchases and expenses using the account connection feature. It's relatively easy to use and can copy and duplicate invoices, send reminders and gauge how often invoices are paid or not. It's primarily used by myself though I sometimes have my assistant send a simple invoice.
  • Allows the user to set up customer profiles and manage the intricacies of account payable tracking.
  • Allows the user to connect the app to a bank account thereby identifying purchases and business-related expenses. Awesome for tax time!
  • Allows the user to create vendor profiles and manage payroll accordingly.
  • Connecting the app to a bank that isn't listed in their database isn't seamless.
  • Sending multiple invoices to one client that needs to use different payment methods raises a red flag.
  • Receipts can't be exported as PDF's and must be sent from the email that was used during sign-up (can't be altered).
  • Because Wave is free to use it's not made a negative impact per se' however the fees associated with each transaction (if you aren't a frequent user) could be a deal-breaker.
  • The app itself offers a ton of features and is a time-saver, giving it a positive impact.
Overall, Wave is a good stand-alone option for a small business with a few employees and/or vendors. It's easy to set-up, navigate and trigger for reoccurring situations. The platform utilizes Stripe for payment processing so the standard fees apply (which if one takes payments upwards of $5,000 can be pricey) and the funds are deposited in a few days with ETA notifications on both the dashboard and via email.

Wave Accounting Feature Ratings

Accounts payable
Not Rated
Accounts receivable
8
Cash management
8
Bank reconciliation
8
Expense management
10
Time tracking
Not Rated
Fixed asset management
8
Multi-currency support
8
Multi-division support
Not Rated
Regulations compliance
8
Electronic tax filing
Not Rated
Self-service portal
8
Global Financial Support
Not Rated
Primary and Secondary Ledgers
Not Rated
Intercompany Accounting
Not Rated
Localizations
Not Rated
Journals and Reconciliations
8
Enterprise Accounting
Not Rated
Configurable Accounting
9
Centralized Rules Framework
Not Rated
Standardized Processes
8
Pricing
10
Order entry
10
Credit card processing
8
Cost of goods sold
9
Order Orchestration
7
End-to-end order visibility
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
10
Standard reports
10
Custom reports
10
API for custom integration
Not Rated
Plug-ins
9
Role-based user permissions
Not Rated
Single sign-on capability
8