Easy to use for someone without accounting or business experience
December 04, 2019

Easy to use for someone without accounting or business experience

Andrea Mitchell, MSW, APSW | TrustRadius Reviewer
Score 9 out of 10
Vetted Review
Verified User

Overall Satisfaction with Wave Accounting

I own a small business and Wave is used for all of our accounting and expense tracking. It is linked to my checking account and I like that all of my expenses are already listed and I just need to go in every once in a while and categorize them. I used to do everything myself but as we have grown I now have our Office Manager do some of the categorizing and it is super simple for her to learn and do.

Pros

  • Links to bank account
  • Allows me to create new categories while other apps do not
  • It is completely free to use

Cons

  • I'm not a big fan of the invoice feature and don't use it
  • I haven't figured out a good way to get a full report of expenses at the end of the year for my tax accountant without having to make some tweaks.
  • The predictive categorization is most often incorrect.
  • Time saving
  • Easy to learn and use
  • Easier to use after my credit union was added as a linking option
I chose to keep Wave first because it is free and easy to use but I also could not find anything else that allowed me to create customer categorizations at least not with a free account. There have been a lot of improvements to Wave over the years so the reasons I was looking for a change have mostly been resolved, with the biggest one being that there used to be very long wait times when the program was processing info.
It is really great for a small business with only minimal transactions to have to categorize. It is also perfect for someone who has zero accounting knowledge.
I'm not entirely sure who it would not work well with because I really don't know much about other businesses or accounting.

Wave Accounting Feature Ratings

8.0
Accounts payable
8
Accounts receivable
8
Cash management
Not Rated
Bank reconciliation
Not Rated
Expense management
Not Rated
Time tracking
Not Rated
Fixed asset management
Not Rated
Multi-currency support
Not Rated
Multi-division support
Not Rated
Regulations compliance
Not Rated
Electronic tax filing
Not Rated
Self-service portal
Not Rated
Global Financial Support
Not Rated
Primary and Secondary Ledgers
Not Rated
Intercompany Accounting
Not Rated
Localizations
Not Rated
Journals and Reconciliations
Not Rated
Enterprise Accounting
Not Rated
Configurable Accounting
Not Rated
Centralized Rules Framework
Not Rated
Standardized Processes
Not Rated
Not Rated
Inventory tracking
Not Rated
Automatic reordering
Not Rated
Location management
Not Rated
Manufacturing module
Not Rated
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
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
7.0
Dashboards
7
Standard reports
7
Custom reports
Not Rated
Not Rated
API for custom integration
Not Rated
Plug-ins
Not Rated
Not Rated
Role-based user permissions
Not Rated
Single sign-on capability
Not Rated

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