Wave Accounting - solid bookkeeping software
July 05, 2024

Wave Accounting - solid bookkeeping software

Daniel Jaworski | TrustRadius Reviewer
Score 6 out of 10
Vetted Review
Verified User

Overall Satisfaction with Wave Accounting

We use Wave Accounting in our accountancy practice for a small pool of micro clients. Software produces useful reports from transactions including a trial balance, profit and loss and balance sheet that we can then import into our accounts production software. It is free to use for very small businesses who do not require more advanced features such as VAT, MTD etc.

Pros

  • Online invoicing
  • Payments online
  • Bank reconciliation

Cons

  • Making Tax Digital
  • VAT reports
  • Payroll
  • Great ROI as it is free to use
  • Better data through online access
  • Had to switch to MTD software for few clients
It is great to use for non-UK market businesses, it does all the basic features of an online bookkeeping and accounting software. It lacks however UK based required features and therefore the usability in the UK is very much restricted. It is also great that through one accountant login we have access to multiple clients without the need to access each account individually.
It is a useful solution but not designed for the UK market. For a businesses that want to see their debtors, creditors, profit and loss and balance sheet it is a great solution, however with those needing legal UK compliance the software will not work as well and the other free competitors would be better choice.

Do you think Wave Accounting delivers good value for the price?

Yes

Are you happy with Wave Accounting's feature set?

Yes

Did Wave Accounting live up to sales and marketing promises?

Yes

Did implementation of Wave Accounting go as expected?

Yes

Would you buy Wave Accounting again?

Yes

It is a useful software for micro businesses but it is now less suitable for UK market. UK compliance requirements have increased in recent years with the introduction of Making Tax Digital and many businesses, not only VAT registered, need to have this feature, and it is missing in WaveApp software.

Wave Accounting Feature Ratings

7.8
Accounts payable
9
Accounts receivable
9
Cash management
9
Bank reconciliation
9
Expense management
7
Regulations compliance
5
Self-service portal
8
Primary and Secondary Ledgers
9
Journals and Reconciliations
9
Configurable Accounting
5
Standardized Processes
7
Inventory Management ()
Not Rated
Order Management ()
Not Rated
Payroll Management ()
Not Rated
6.3
Dashboards
6
Standard reports
8
Custom reports
5
Customization ()
Not Rated
5.0
Role-based user permissions
5
Single sign-on capability
5

Comments

More Reviews of Wave Accounting

  1. Home
  2. Accounting Software
  3. Wave Accounting Reviews
  4. User Review of Wave Accounting