Very Affordable Accounting Software
January 29, 2020

Very Affordable Accounting Software

JaCoby Marston, CPA | TrustRadius Reviewer
Score 7 out of 10
Vetted Review
Verified User

Overall Satisfaction with Wave Accounting

The cool thing about Wave Accounting is that there is no cost to use their accounting software. Wave Accounting is very similar to QuickBooks Online without the monthly cost. Wave Accounting is an online accounting software that is pretty easy to use. If you have a basic accounting understanding then it should be no problem for you to set up your company and start using this software to manage your business finances. You can link all of your bank accounts to this including credit cards so that it will import all of your transactions and all you have to do is assign the transactions to the correct account. This accounting software is great because it is completely online which means that you can access it anywhere you have a laptop and the internet.

Pros

  • Very affordable.
  • Easy to use!

Cons

  • Connection issues with bank accounts and credit card accounts
  • Learning curve to understanding the accounting software is large.
  • Very affordable software!
  • Completely based online so it doesn't take up any space.
Wave Accounting is very similar to QuickBooks Online. The functions of Wave Accounting are very similar to QuickBooks Online. The major difference is that with the low pricing of Wave Accounting, it lacks all of the bells and whistles that QuickBooks Online has like better-improved bank connections. If cost is an issue then my recommendation is that you use Wave Accounting to start with. If cost is not an issue, then I would recommend using QuickBooks Online. Wave Accounting is difficult to set up especially if you do not have any accounting experience. QuickBooks Online, however, is designed to help those that lack accounting skills. Overall, I like using Wave Accounting because of the affordability but it does have its pain points.
If cost is a major factor in selecting accounting software, then I recommend that you go with Wave Accounting because it is very affordable. However, because it is very affordable you do sacrifice some of the tools that other online accounting softwares offer like improved bank account connections and user-friendliness. Wave Accounting is a great accounting software to start using because it is very affordable and a basic accounting software. Another cool thing about Wave Accounting is that it is completely online which means that you can access it anywhere you have internet and that your data is saved in the cloud. No more worrying about your computer crashing and losing all of your accounting data.

Wave Accounting Feature Ratings

6.3
Accounts payable
5
Accounts receivable
5
Cash management
5
Bank reconciliation
7
Expense management
7
Self-service portal
7
Journals and Reconciliations
8
5.0
Inventory tracking
5
5.0
Pricing
5
Order entry
5
Credit card processing
5
Cost of goods sold
5
Order Orchestration
5
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
6.0
Dashboards
5
Standard reports
7
Custom reports
6
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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