User Reviews Overview

About Wave Accounting

Online accounting software that provides features including invoicing, billing, payment tracking, payroll management, finance management, credit card processing, and receipt scanning. Wave Accounting is designed to help businesses...

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Feature ratings

Value for Money
4.5
Features
4
Ease of Use
4.5
Customer Support
4

Browse Wave Accounting Reviews

1,121 of 1,121 reviews
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Rowan M.
  • Industry: Construction
  • Company size: Self Employed
  • Used Daily for 6-12 months
  • Review Source
Value for Money
5
Features
4
Ease of Use
5
Customer Support
3

4
Reviewed on 23/07/2021

Solid free platform for small business

I am really impressed for a free offering. Everything looks and feels professional and I'm able to focus on running my business and not learning accounting.

Pros

Having a system that connects to your bank and imports all the transactions for you is a game changer. This is almost as simple as using something like Mint to manage your personal budget. Once the transactions are imported, they definitely lead you down the path to success even if you know nothing about accounting.

Cons

The lack of accounting/reporting for individual projects is a massive omission. I don't think they need a full blown project system, but just some way to tag transactions so that you know the expenses and income for a given project.

I also found the sales tax feature a little simplistic. Here in Washington state we have really small tax zones (customers less than a mile apart can be in different zones) and I have to track the sales tax collected/paid per zone. I was able to do this, but it feels very clunky as the system seems to be designed for a just a handful of different sales taxes.

Alternatives Considered

Quickbooks Online

Reasons for Switching to Wave Accounting

Price. I don't mind paying for things when it makes my life easier. But Wave is a really great product and I don't see any need to pay for something.
Nicole J.
  • Industry: Management Consulting
  • Company size: 2-10 Employees
  • Used Monthly for 1+ year
  • Review Source
Value for Money
5
Features
5
Ease of Use
4
Customer Support
N/A

5
Reviewed on 29/06/2021

Free Version Great for Freelance/Solo/Small Business

I'm a small business owner who needs only minimum capabilities and this product works great. It's easy to use and gives me everything I need to run my consulting business.

When my business grows I will quickly grow out of the capabilities of the free version and need to upgrade. I foresee needing online invoice payment and bank account integration to save myself time.

Pros

It does everything I need for free! In my small consulting business there's not a whole lot of financials for me to track, and this app works perfectly. I sometimes make mistakes and it's easy for me to correct those without having a tangled spaghetti of journal entries or notes to file.

Cons

These are very minor cons and are common to all web-based apps. Sometimes page navigation can be cumbersome, requiring many clicks. I often have to open two windows side by side to reference a second page, and one page won't update from changes in the other until I refresh. It just takes a little more time to wait for reloads.

Alternatives Considered

Quickbooks Online

Reasons for Switching to Wave Accounting

As a small business owner I don't have much transaction/invoice volume to keep track of, and paying monthly for a subscription service that's rarely used is out of the question. The functionality for the free version can't be beat!
Kari G.
  • Industry: Human Resources
  • Company size: 2-10 Employees
  • Used Daily for 2+ years
  • Review Source
Value for Money
5
Features
5
Ease of Use
5
Customer Support
5

5
Reviewed on 09/05/2021

I LOVE Wave!

Overall, I highly recommend Wave if you are running a business and want low costs and an easy way to manage your finances. My business is simple and Wave makes it so much easier for me to stay on top of things and know where I need to focus my energy.

Pros

I have been using Wave since around 2015 and my books were a mess when I first began because I was doing them (not my strength) and once I heard about Wave's bookkeeping services, I couldn't believe how affordable they were. It's super easy to set up and use, run reports and know about your financials. I tried switching to QB for about 1 month and hated it, so I switched back. Lesson learned and I'm sticking around!

Cons

One thing I had to get used to was because I had my bank account connected and until the month is reconciled, when a invoice is paid I mark it paid and then the 'payment' comes in again from banking. It was easy to catch and now my Wave bookkeeper keeps all that reconciled. Thank you!

Alternatives Considered

FreshBooks and Quickbooks Online

Reasons for Switching to Wave Accounting

I chose Wave because of a family recommendation and how easy it was for me to set up an account and get things moving. The others may have changed, but I still recommend Wave to anyone who is looking for an easy & affordable way to get their business going.

Top Wave Accounting Alternatives

QuickBooks Desktop Enterprise

QuickBooks Online Advanced

Brooke B.
  • Industry: Design
  • Company size: Self Employed
  • Used Daily for 2+ years
  • Review Source
Value for Money
5
Features
5
Ease of Use
5
Customer Support
4

5
Reviewed on 26/08/2020

LOVE LOVE LOVE

Wave no longer integrates with CapitalOne Spark Business Checking & Savings. CapitalOne is going through some changes so I don't blame Wave too much but manually uploading bank statements every month is a hassle. Though I love Spark, I'm hopefully that Wave's banking that is coming soon will be a good future solution. I love Wave for everything else. It's the most rounded and affordable solution for my small business finances.

Pros

It's everything I need in one place. As a small business, Wave is the best solution for me. I can invoice my clients for free, and easily keep my finances up-to-date making tax season worry free.

Cons

Wave no longer integrates with CapitalOne Spark Business accounts, so I have to manually upload two bank statements every month into Wave; One for my checking and one for my savings account, both of which are Spark.

Alternatives Considered

Zoho Expense, PayPal and QuickBooks Desktop Enterprise

Reasons for Choosing Wave Accounting

Quickbooks is too expensive and more difficult to use. Wave is a miracle.
Dane J.
  • Industry: Accounting
  • Company size: Self Employed
  • Used Daily for 2+ years
  • Review Source
Value for Money
5
Features
5
Ease of Use
5
Customer Support
5

5
Reviewed on 05/07/2019

Wave is a Great Accounting Suite - and it's FREE!

Pros

Wave is a great piece of accounting software that rivals Quickbooks and Xero. The biggest winner, which it obvious to anyone who has researched Wave as an accounting platform for their small business: it’s FREE! Both Quickbooks and Xero have fairly low-cost pricing models for small businesses that range all the way to fairly high-cost for larger businesses. Wave, on the other hand, is specifically tailored to the small business, and offers only features popular with those businesses. But, because of this, their base accounting software is completely free. Their only products you would be billed for would be payroll or credit card processing, both of which are priced competitively to Quickbooks/Intuit’s and Xero’s offerings as well.

Wave also offers a lot of the same features, including automatic bank and credit card feeds, customized charts of accounts, multiple businesses on one account, smart expense categorization (software learns over time), and more.

Cons

Wave does have its limitations and is more basic than Quickbooks or Xero, especially to us accountants who can see the glaring differences. However, even as an accountant and bookkeeper, I recommend Wave to a lot of my smaller clients whose biggest consideration is cost, simply because you can’t beat free. Plus, a lot of the additional features that offerings like Quickbooks or Xero feature, smaller businesses will not always utilize anyway, so Wave fits them perfectly. All-in-all, there are no large drawbacks.

Gregg B.
  • Industry: Religious Institutions
  • Company size: 2-10 Employees
  • Used Weekly for 1+ year
  • Review Source
Value for Money
5
Features
4
Ease of Use
5
Customer Support
3

5
Reviewed on 27/11/2018

Free accounting with added features and mobile tools

Really powerful accounting software with automated tools for transaction importing, electronic payment processing and mobile tools for expense entry and invoice creation. Excellent for the price, knowing the service fees for payments and payroll offset the "free" price tag is more than worth it compared to the competition.

Pros

Wave allows me to keep track of finances for multiple enterprises - self-employment business, a non-profit, and personal finances. Each account was set up using the Wave wizard and very few changes have been made to the overall function beyond that. The non-profit I manage has a series of account codes that were easily added and applied to transactions. I use multiple income streams for my business and they are all imported automatically. Wave charges for things like payroll administration, credit card processing and bank transfers - all at industry standard rates - and that's how they keep the base platform free.

The mobile expense app helps me keep track of receipts and does a really excellent job of deciphering receipts, even in multiple languages and currencies! The mobile invoice app is great for sending quick invoices or following up with clients on payment.

Also allows viewing and reporting for authorized agents who can't change any data - a needed feature for the separation of financial powers required with most non-profit setups. My accountant can take a peek too.

Cons

One feature that is present in most accounting systems is the ability to categorize an expense as a reimbursed expense and then assign it to an invoice - at cost or with a markup. With Wave, I needed to set up a separate "reimbursed expenses" account and then - via double entry - add the expense onto invoices with a "reimbursed expense" account code. If entered at cost, the balances zero out in the reporting. If there is a markup, the income category is "reimbursed expense", which isn't helpful for year-end accounting.

Belinda S.
  • Company size: 2-10 Employees
  • Used Weekly for 2+ years
  • Review Source
Value for Money
5
Features
4
Ease of Use
4
Customer Support
4

4
Reviewed on 09/10/2018

Simple Online Invoicing - Accounting Tool

As a small freelance shop, we needed an invoicing program with accounting capabilities that was simple to learn and use as well as being flexible enough for multiple devices. We tried several other programs but they were either too expensive or too complicated, with many functions we didn’t need, or were too hard to learn. It took very little time for us to learn and set up Wave Accounting for our office and start using the invoicing feature. We're quite pleased with the program.

Pros

We found Wave to be easy to learn and set up and it allowed us to connect to both bank and credit card accounts. Invoicing is easy and flexible allowing us to download a pdf and attach to an email for a client or to send directly from Wave. Our clients can print the invoice and mail us a check or pay online with a credit or debit card through Wave. Wave’s fees are competitive for processing the funds. The funds are directly deposited into our connected bank account, usually within two business days. The invoicing features were our biggest need and the program allows us to send the invoice, send reminders, mark paid and send receipts.
Setting up the chart of accounts was probably the most challenging, but there is a default chart which can be edited or added to and we easily found tutorials online. Their customer service was quite responsive to our questions.
The reports function gave us what we needed for monthly, quarterly and year-end reporting. All in all, Wave was a great solution for our invoicing and accounting needs.

Cons

We needed some specific tax calculations but found there was no way to add a specific formula into the tax account. This requires manual entries for us. Because the program is a streamlined accounting version, which is what we really like, it does have some limitations.

Al C.
  • Industry: Computer Networking
  • Company size: 11-50 Employees
  • Used Daily for 2+ years
  • Review Source
Value for Money
5
Features
3
Ease of Use
4
Customer Support
3

4
Reviewed on 08/10/2016

Great Software for Small Business (Beta User)

I started a business and wanted to avoid getting locked into the Quickbooks infrastructure like last time. Wave Accounting online was successful in helping me with that goal!
I found everything I needed for income and tax reporting as a small business. Wave Accounting made me look very professional with the ability to email invoices and collect payment using credit cards.
Issues I encountered included occasional sync problems with my checking account (similar to issues's I've had with MINT by Intuit). When I decided to change from Suntrust bank to a local credit union I went a couple of months without ability to sync my accounts. Customer support (by email) was friendly and adequate.
Some features like payroll are paid features. Processing credit cards will cost you a percentage of each transaction (4% it was at the time I used it). Some features like paying 1099 (contract) employees were very necessary for small business but still in development while I used the software (it works now).
I didn't personally find anything else fundamental missing but I'm not an accountant - I'm an IT guy who wanted to do my own books. Wave fit my needs exactly and will probably be enough for you. During the time I owned and operated my business I may have saved over $300/year and avoided the frustration of working with the crazy behemoth that is Quickbooks (however my credit card fees added up to about twice that). If I were starting over again today I would have to carefully reconsider and compare with Quickbooks Online. I would NEVER willfully choose to run their desktop products. Cloud based products with online support and integrated security features is the current way to go.

Pros

Cloud

Cons

Support

Belinda S.
  • Industry: Management Consulting
  • Company size: 2-10 Employees
  • Used Weekly for 1+ year
  • Review Source
Value for Money
5
Features
4
Ease of Use
5
Customer Support
4

5
Reviewed on 10/10/2017

Simple Back Office Accounting

Wave seems to be a company looking toward the future for small businesses. With their affordable, cloud based solution they also offer a receipt app for adding images to the expense files. There are many other integrations I expect to use in the future via the Wave Zapier connection. I have been using it for a year now and am just so pleased with how Wave works.

Pros

For small studios, new and busy entrepreneurs who trying to generate enough revenue to hire or outsource the accounting functions, Wave is like an answer to prayer. It is easy to open an account, it has all the accounting ledgers that the tax accountant needs, it connects to read-only of bank accounts and credit card accounts, and did I mention it is a free cloud-based solution. The user interface is easy to understand. You can create and send invoices as well as connect a business bank account to receive payment with Credit or Debit cards. The bank fees are the same as other payment processors at 3% currently. The invoicing function allows for automatically reminding clients when their invoice is getting close to being due and when it is overdue. Once the money is received it is a simple click or two to mark the invoice paid and tell it which account the money was received into. Like other complicated accounting software, Wave allows for setting up products, sales tax and customers. Unlike the complicated ones, it is easy to do. Running sales tax reports is a piece of cake. There are options for running employee payroll, too. All in all, because of the Wave accounting solution, I am no longer afraid of the books and can easily keep up with the administration of the financial side of my business.

Cons

It would be helpful if there were more tutorials available, but because the program is easy to set up, it has not been a big problem to figure things out or find third-party tutorials online.

Nikki M.
  • Industry: Online Media
  • Company size: Self Employed
  • Used Daily for 1+ year
  • Review Source
Value for Money
N/A
Features
5
Ease of Use
5
Customer Support
N/A

5
Reviewed on 23/05/2021

It saved me at tax time!

Wave Accounting kept track of all the transactions in my bank account after I linked them. This made life so much easier during tax time. I was able to easily search transactions which saved me so much time.

This is a free platform, so that is one great feature that cannot be overlooked. So many platforms charge for doing less, so I definitely appreciate the free option.

While I do love that I can create invoices, I am unable to just create the PDF on the website. It has to be emailed. So, I have to take the extra steps to email it to myself, then download the PDF from the email. This could be streamlined.

Otherwise, this platform is perfect for me. Definitely useful. Especially for small business owners on a budget.

Pros

Wave Accounting links up to my bank account and keeps track of my cash flow even when I am not thinking about it.

Cons

Sending invoices does allow for the PDF to be generated and downloaded on the website. It must be sent. So, I always have to email it to myself, then download the PDF.

Shaye W.
  • Industry: Wine & Spirits
  • Company size: 2-10 Employees
  • Used Daily for 1-5 months
  • Review Source
Value for Money
5
Features
5
Ease of Use
5
Customer Support
5

5
Reviewed on 20/08/2019

accounting and bookkeeping as easy as it gets

Overall, I'm quite happy. It was an accounting software that came with my banking when I opened a new business account. It has exceeded my expectations in terms of its capabilities and user friendliness. Anyone can use it without having an accounting degree.

Pros

Bookkeeping is one of my least favorite things about owning a business but this application has helped quite a bit. It makes it super easy to track invoices and collect payments. Invoices are extremely professional looking and easy to edit and update.

Cons

I have a tough time figuring out how to use two different currencies and still maintain consistency. There are also a couple of things that I have yet to explore and for that reason I still use a spreadsheet.

Alternatives Considered

Xero

Reasons for Choosing Wave Accounting

It was provided free or charge by my bank and once I gave it a shot I found it much easier and intuitive than Quickbooks

Switched From

Quickbooks Online

Reasons for Switching to Wave Accounting

To be fair I never tried Xero but was told about it. Once I started using Wave I didn't have much of a reason to switch.
Jacqueline B.
  • Industry: Legal Services
  • Company size: Self Employed
  • Used Weekly for 1+ year
  • Review Source
Value for Money
N/A
Features
5
Ease of Use
5
Customer Support
N/A

5
Reviewed on 06/11/2020

Easy to use and free!

I have had a great experience with Wave Accounting. I was able to create nice looking invoices and edit when necessary and sending invoices to clients is a breeze. The best accounting software and best of all, it's free.

Pros

This is the best do-it-yourself accounting tool ever. Everything is done for you; even the taxes. All you have to do is type in the name of the tax you want and it calculates everything for you! It even sends out reminders to your clients if payment is not made when indicated.

Cons

I honestly can't think of anything that I don't like about this software. My business is simple so my needs are simple. I don't like reminders being sent to clients so I have to ensure the reminder is off. It was a little embarrassing a couple of times when an invoice was already paid and the client got a reminder; oops!

Paul C.
  • Industry: E-Learning
  • Company size: 2-10 Employees
  • Used Daily for 2+ years
  • Review Source
Value for Money
5
Features
4
Ease of Use
5
Customer Support
4

5
Reviewed on 18/09/2017

Simple, Cloud-Based, and Integrates Well

Simple, easy to use, consolidates many banking accounts into a single reporting system, good invoicing features and the mobile app for invoicing is pretty good.

Pros

Invoicing has improved greatly with the additional of bank transfers (fee is 1%) so you can kiss the 3 or 4% credit card fees goodbye. This may not make a huge cost savings for those businesses with small ticket items but higher priced ticket items using the bank transfer option save a good chunk of change. Invoices are easy to generate and pay either via the desktop or mobile application. Our organization has multiple banking accounts and we use this tool to consolidate it all into one report. Reporting is solid and meets our basic needs for balance sheet, aged accounts receivable and income statement.

Cons

A stronger mobile app for handling accounts payable or pulling an income statement or balance sheet reporting is missing so getting the latest sales figures on your mobile device while your boss is calling you in a panic can be a bit tricky. Extracting the raw data is a bit tricky by having to run transactional reports but overall this still works pretty well.

John M.
  • Used Daily for 6-12 months
  • Review Source
Value for Money
5
Features
3
Ease of Use
5
Customer Support
4

4
Reviewed on 14/12/2017

Great for basics, not for the advanced

Pros

I enter my bills, get reminders, and create all of my invoices with Wave. I even track my hourly time by creating estimates, then turning those estimates in to invoices once a month. Basic stuff, but very helpful. I used to use Quickbooks, but that was like a Porche when all I needed was an old Ford. I have no bookkeepping background, not an accountant, but I find Wave helpful and simple.

Cons

Only one contact per company is allowed, which is annoying. For instance when invoicing, most people want the invoice to go direct to their accounting dept. But if you work for someone other than that accounting person, in order to cc them with the invoice you need to manually enter their email address on each invoice. Every month. There is no function to easily track your time, and if you bill by the hour this can be a big deal. But there is a work around. In my case I invoice monthly on the 15th. So to start I will create an estimate with a date of the following month on the 15th. Enter my product, the description will look something like "11.30.17 Phone call with Steve", quantity is hours or decimals of hours (i.e. 0.5 = 30 minutes), and the price is my hourly rate. It works. Each task will have it's own line on the estimate, and when converted to an invoice the customer gets a detailed invoice with date, what I did, duration, etc.

David M.
  • Industry: Computer Software
  • Company size: 2-10 Employees
  • Used Daily for 2+ years
  • Review Source
Value for Money
5
Features
4
Ease of Use
5
Customer Support
5

5
Reviewed on 05/12/2019

Online Accounting

I recommend the Wave software to any small business, it has all the functionality required. You can also pay for support from an accounting professional if you need financial expertise.

Pros

I've used the Wave accounts solution for the past 6 years. Wave provided all the features I needed as a startup business. The ability to easily produce customized and professional quotes and invoices is an excellent feature of the software. Manage your invoices, accept electronic payments, send reminders and receipts. The comprehensive and customizable dashboard provides a focal point for your business and how it is performing.

Cons

I would have liked the ability to create and send Purchase Orders. This would have been a good way of tracking business to business transactions. This transaction type can be recorded manually via the Bills function.

Zahra H.
  • Industry: Management Consulting
  • Company size: 2-10 Employees
  • Used Weekly for 6-12 months
  • Review Source
Value for Money
5
Features
5
Ease of Use
5
Customer Support
5

5
Reviewed on 24/08/2019

Amazing Accounting Solution

I can do all expense tracking as well well as invoicing and emailing notifications, super cool stuff! Love it. The iOS is fantastic, its syncs well and gives me no lag time. With Xero I had a headache, but with wave, its like... awesome!

Pros

Its free, easy to setup, no accounting background required to make sense of this service, imported stuff easily, just plain easy and I use it. The iOS and Android apps are great.

Cons

Nothing! I'm still not sure when they'll ask for money, because it free and I use it for all my personal and professional businesses.

Alternatives Considered

Pandle

Reasons for Choosing Wave Accounting

Xero is Super difficult. Its expensive and Wave does it all for free... why would I not switch???

Switched From

Xero

Reasons for Switching to Wave Accounting

I used both, but preferred Wave because I was all set up on wave and then didnt want to move to Pandle.
Melanie S.
  • Industry: Health, Wellness & Fitness
  • Company size: Self Employed
  • Used Weekly for 2+ years
  • Review Source
Value for Money
5
Features
5
Ease of Use
5
Customer Support
4

5
Reviewed on 30/03/2021

Easy Accounting Software with great features

I would not be able to keep up with invoices without this software. It has made accounting way easier for me. I love using Wave.

Pros

I love the simple and clean look of Wave. It is easy to navigate and setup. My favorite feature is the billing and invoices. Invoices have a clean look and are customizable with your own logo. Edits are easy and the recurring invoice feature is a must-have. Customers can save their credit card info and charges happen automatically.

Cons

When I first started using this software it automatically imported bank account and credit card details when I logged on. This made reconciliations and dashboard views super easy. Unfortunately with security changes, I now have to manually import from my Capital One credit card and my bank account. It's not hard, but it was way nicer when it did it for me.

Lubov B.
  • Industry: Accounting
  • Company size: Self Employed
  • Used Daily for 2+ years
  • Review Source
Value for Money
5
Features
5
Ease of Use
5
Customer Support
N/A

5
Reviewed on 25/02/2021

Great Small Business Solution

I personally use Wave Accounting and recommend it to the small business clients that I work with.

Pros

I really enjoy the simple yet powerful functionality of this option for small business bookkeeping.

Cons

I would find it useful if a separate CM option can be added as it will make the refund process quicker.

Alternatives Considered

Quickbooks Online and Xero

Reasons for Switching to Wave Accounting

I chose Wave because it has all of the main functionality, doesn't harass the user with too much advertising, and is simple to setup.
Verified Reviewer
  • Industry: Food & Beverages
  • Company size: Self Employed
  • Used Weekly for 2+ years
  • Review Source
Value for Money
5
Features
5
Ease of Use
5
Customer Support
N/A

5
Reviewed on 25/02/2021

Great value

As a small business owner, counting my pennies and working alone, it's an indispensable tool. The ability to have my accountant be able to log in and get the info she needs to file things has been fantastic. Overall, I'm a huge fan and have recommended the program to many others in my industry and beyond. Great value!!

Pros

Works similar to Quickbooks but is free at the base level. Like most of these apps, there's an upgraded version that costs but even then, it's relatively inexpensive by comparison. It's ready to use and quite handy. They have a receipts app the can take images and upload your receipts as well, which is super handy.

Cons

The connection between receipts added and their corresponding transactions is sometimes a bit cumbersome... but, it's free... so, in that regard it's a minor inconvenience, at best.

Marc T.
  • Industry: Marketing & Advertising
  • Company size: 2-10 Employees
  • Used Daily for 2+ years
  • Review Source
Value for Money
5
Features
4
Ease of Use
5
Customer Support
4

5
Reviewed on 28/04/2020

Easy to use accounting software

Pros

Ease of use is pretty near
Send professional invoices to your clients
Easily send expense invoices to Wave, and they'll input it in your expenses

Cons

It's far from a complete accounting package. Well to be honest it's probably not trying to be a complete package.
There are some lacking features, but hey, it's free, and it's easy to get started. You might not need the additional features.

Alternatives Considered

Xero
Kimberly H.
  • Industry: Computer Software
  • Company size: Self Employed
  • Used Weekly for 2+ years
  • Review Source
Value for Money
5
Features
4
Ease of Use
5
Customer Support
5

5
Reviewed on 25/05/2021

Using Wave Accounting

I like it do to the cost. While not perfect, it easy on my budget which matters.

Pros

It pulls in all my bank account and I like tagging the cost so I only have to do that once. Some software out there can't remember my categories or tags. The account Transactions has great sorting and filters. I can see the price has changed on anything each month. I love that I can do invoices and the client can do a bank transfer.

Cons

I don't like they no longer connect to PayPal. I have some clients who will only pay via PayPal because they know the name. The account transactions need a better export to excel.

Alternatives Considered

QuickBooks Desktop Enterprise

Reasons for Switching to Wave Accounting

It easy to get online and easy to set up. I have a hard time trusting Quickbooks due to a bad experience with them.
Tabitha T.
  • Industry: Veterinary
  • Company size: Self Employed
  • Used Daily for 2+ years
  • Review Source
Value for Money
5
Features
4
Ease of Use
5
Customer Support
4

4
Reviewed on 19/07/2018

The free version is great for my needs

Pros

I like the simple layout of the software. I also like the iPhone app that allows me to make and send invoices as soon as I finish a job. They've changed the way transactions show up when downloaded from your bank so now I can easily match them to invoices. The simple reports are perfect for my needs. The best part is that it's pretty easy to figure out how to use Wave on a basic level for sole proprietors who have a dozen or so clients.

Cons

Some people might not like the double entry system of accounting. Personally, I've chosen to ignore that feature and simply use the app like a simple transaction register. My accounts don't balance and I don't reconcile with my bank statements. I probably only have 20 or fewer transactions per month so I'm pretty aware of what's going on. If I had to make everything balance, I think the app might be harder to use.

Matthew S.
  • Industry: Medical Practice
  • Company size: 2-10 Employees
  • Used Weekly for 6-12 months
  • Review Source
Value for Money
N/A
Features
5
Ease of Use
5
Customer Support
N/A

5
Reviewed on 14/12/2019

Well Worth It

Works well and much better than Quicken that had to be updated periodically and that charged a monthly serice charge.

Pros

Integrates with my bank accounts and automatically updates and enters transactions. You can make ledger distribution into various accounts with no limit.

Cons

Not easy to transfer between accounts (checking and savings) Need to watch for duplicate entries. There are intermittent problems interfacing with the bank to download transactions into wave.

Alternatives Considered

Quicken

Reasons for Switching to Wave Accounting

It was easy to use and allowed for multiple ledger entries for accounts payable.
Alexander C.
  • Review Source
Value for Money
N/A
Features
N/A
Ease of Use
5
Customer Support
5

5
Reviewed on 17/01/2016

Wave is an outstanding accounting app

After many years with Quicken, and some considerable frustration, we were looking to move to a new accounting app. I researched Mint and many others, then came across Wave, which was extremely well reviewed and had extremely high security ratings - a vital factor in accounting software.

Wave has been quite literally a breath of fresh air. Cloud based and with the capability not only of linking your bank accounts directly to the software (as strongly encrypted read-only data), one of the major attractions was that you could also choose to upload data from your bank as statements in csv file format, thus not directly linking your accounts at all.

With transactions automatically uploaded or synced, verifying them and adding your own categories or individual transaction notes is a breeze.

We've had a few questions about how to create new categories and how to split transactions (you create new categories in the Accounting tab, rather than the Transactions tab) and have emailed Wave Support regarding perhaps five or six issues. Each time we received a friendly, full and very clear step by step explanation of what we needed to do.

Wave offers a premium version with additional support, which I'm sure is excellent, but replies to our questions regarding the free version have always come within a day or so.

I have no complaints at all about the capabilities of Wave, and it makes bookkeeping very fast. The fact that it can be accessed from any computer is a big plus, and means that our accountant can examine any transaction easily, should he need to.

The app is very versatile and pleasing to use. We actually look forward to updating our accounts, which was certainly never the case with Quicken. Updating has been seamless, and adding manual entries is easy, too. I would highly recommend Wave. I'm astonished it's free. If it could become an iOS app as well, I would be over the moon - especially if it could incorporate fingerprint recognition security in the manner of SplashID, RobinHood and other vital iPhone apps.

Many thanks to the Wave developers and support team. It's an outstanding app and I wish it every success.

Patrick A.
  • Industry: Furniture
  • Company size: 2-10 Employees
  • Used Weekly for 2+ years
  • Review Source
Value for Money
5
Features
4
Ease of Use
4
Customer Support
N/A

5
Reviewed on 25/04/2019

Great No Cost Small Business Accounting Option.

This is where small business accounting started for me and I am really glad it was there for me to cut my teeth on. Did I mention that it is free to use!

Pros

It is free, as in no cost. It was a good feature set that is basic but checks all the boxes. For the money it is a great option and a super place to learn about keeping small business books. Highly recommended if you are just starting out and don't want to get roped into a subscription type service.

Cons

There are some aspects of the UI that are clumsy or tedious. For example an operation that could be accomplished in one or two clicks requires 3 or 5 clicks. Sounds like a nit pick, but not when there is an operation that you need to repeat maybe dozens or hundreds of times that requires lots of clicks and submenus. So the flow is not there and it would be easy to correct with some attention to the actual functional user experience. There are also some functions that could easily be automated that are not and so it starts to feel tedious. It also is a more generic set of tools and integrations that are not quite as relevant as some of the other paid options. But it is free and I did use it happily for years.

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