Wave Accounting - great for micro businesses
Updated March 16, 2020
Wave Accounting - great for micro businesses
Score 6 out of 10
Vetted Review
Verified User
Overall Satisfaction with Wave Accounting
As an accounting firm, we co-use the program with our smaller clients. We are invited to use the system on their side, and then managing their financial records, and accounting transactions remotely. For our clients, it addresses the problem of cost-efficiency for our smaller clients as it has a free version. For us, it allows us to work remotely without having to visit our clients at their office. This is important as we are a virtual accounting firm, meaning we do not have a physical office address, but rather work from our own individual homes from our PC's. Many site visits would increase costs for our clients, many of whom are small clients, and need their costs kept as low as possible for cash flow reasons.
- Bank upload and reconciliations (new feature).
- Reports are good for a free system.
- Good customer and supplier reconciliation features for a free system.
- I find the system to be quite sluggish at times, compared to other systems that we use.
- They are adding new features to the system, but it is still very behind other comparative systems.
- The payroll function is only currently available to USA and Canada.
- None.
As I stated previously, Wave is a free system. It serve you well as non-resident of USA/Canada for your basic bookkeeping needs, as a micro-business. If you are a resident of those countries, you will benefit immensely from the payroll function as well. If you are looking for a country-specific, more powerful system, then I recommend a system such as Sage Business Cloud for your needs. This obviously depends on the size of your company and how powerful you need your accounting system to be.