1 011 reviews

Wave

Accounting, invoicing, and payroll management platform

4,4 /5 (1011 reviews) Write a Review!
Overall rating
4,4
/
5
Value for Money
4,7
Features
4,2
Ease of Use
4,5
Customer Support
4,1
89% recommended this app
1 011 reviews
Brooke B.
Industry: Design
Company size: Self Employed

LOVE LOVE LOVE

Used Daily for 2+ years
Reviewed on 2020/08/26
Review Source: Capterra

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.

Rating breakdown

Value for Money
Ease of Use
Customer Support

Likelihood to recommend: 10.0/10

Dane J.
Industry: Accounting
Company size: Self Employed

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

Used Daily for 2+ years
Reviewed on 2019/07/05
Review Source: SoftwareAdvice

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.

Rating breakdown

Value for Money
Ease of Use
Customer Support

Likelihood to recommend: 10.0/10

Gregg B.
Industry: Religious Institutions
Company size: 2-10 Employees

Free accounting with added features and mobile tools

Used Weekly for 1+ year
Reviewed on 2018/11/27
Review Source: Capterra

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.

Rating breakdown

Value for Money
Ease of Use
Customer Support

Likelihood to recommend: 9.0/10

Belinda S.
Company size: 2-10 Employees

Simple Online Invoicing - Accounting Tool

Used Weekly for 2+ years
Reviewed on 2018/10/09
Review Source: SoftwareAdvice

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.

Rating breakdown

Value for Money
Ease of Use
Customer Support

Likelihood to recommend: 10.0/10

Al C.
Industry: Computer Networking
Company size: 11-50 Employees

Great Software for Small Business (Beta User)

Used Daily for 2+ years
Reviewed on 2016/10/08
Review Source: Capterra

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

Rating breakdown

Value for Money
Ease of Use
Customer Support

Likelihood to recommend: 8.0/10

Belinda S.
Industry: Management Consulting
Company size: 2-10 Employees

Simple Back Office Accounting

Used Weekly for 1+ year
Reviewed on 2017/10/10
Review Source: SoftwareAdvice

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.

Rating breakdown

Value for Money
Ease of Use
Customer Support

Likelihood to recommend: 10.0/10

Shaye W.
Industry: Wine & Spirits
Company size: 2-10 Employees

accounting and bookkeeping as easy as it gets

Used Daily for 1-5 months
Reviewed on 2019/08/20
Review Source: Capterra

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.

Rating breakdown

Value for Money
Ease of Use
Customer Support

Likelihood to recommend: 10.0/10

Jacqueline B.
Industry: Legal Services
Company size: Self Employed

Easy to use and free!

Used Weekly for 1+ year
Reviewed on 2020/11/06
Review Source: Capterra

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!

Rating breakdown

Ease of Use

Likelihood to recommend: 10.0/10

Paul C.
Industry: E-Learning
Company size: 2-10 Employees

Simple, Cloud-Based, and Integrates Well

Used Daily for 2+ years
Reviewed on 2017/09/18
Review Source: Capterra

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.

Rating breakdown

Value for Money
Ease of Use
Customer Support

Likelihood to recommend: 8.0/10

Zahra H.
Industry: Management Consulting
Company size: 2-10 Employees

Amazing Accounting Solution

Used Weekly for 6-12 months
Reviewed on 2019/08/24
Review Source: Capterra

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.

Rating breakdown

Value for Money
Ease of Use
Customer Support

Likelihood to recommend: 10.0/10

John M.

Great for basics, not for the advanced

Used Daily for 6-12 months
Reviewed on 2017/12/14
Review Source: Capterra

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.

Rating breakdown

Value for Money
Ease of Use
Customer Support

David M.
Industry: Computer Software
Company size: 2-10 Employees

Online Accounting

Used Daily for 2+ years
Reviewed on 2019/12/05
Review Source: Capterra

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.

Rating breakdown

Value for Money
Ease of Use
Customer Support

Likelihood to recommend: 10.0/10

Marc T.
Industry: Marketing & Advertising
Company size: 2-10 Employees

Easy to use accounting software

Used Daily for 2+ years
Reviewed on 2020/04/28
Review Source: Capterra

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.

Rating breakdown

Value for Money
Ease of Use
Customer Support

Likelihood to recommend: 8.0/10

Tabitha T.
Industry: Veterinary
Company size: Self Employed

The free version is great for my needs

Used Daily for 2+ years
Reviewed on 2018/07/19
Review Source: Capterra

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.

Rating breakdown

Value for Money
Ease of Use
Customer Support

Likelihood to recommend: 8.0/10

Patrick A.
Industry: Furniture
Company size: 2-10 Employees

Great No Cost Small Business Accounting Option.

Used Weekly for 2+ years
Reviewed on 2019/04/25
Review Source: Capterra

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.

Rating breakdown

Value for Money
Ease of Use

Likelihood to recommend: 8.0/10

Adrienne G.
Industry: Nonprofit Organization Management
Company size: 11-50 Employees

Great Alternative to Quickbooks!

Used Daily for 1+ year
Reviewed on 2019/03/20
Review Source: Capterra

Pros

For a small business, this FREE software does everything we need for it to. We were in search of an alternative to Quickbooks and Wave certainly delivered. We need to create and track invoices and client payments and Wave certainly helped us organize our Accounting. This is also cloud-based so multiple users can log in or access this software anywhere they have an internet browser and internet connection. Our Finance Department is able to pull reports when they need in realtime without having to wait on our team to do anything.

The set up was very easy. I certainly don't have an accounting background and I was able to configure everything with ease.

We don't require the paid features for what we need to do so the fact that Wave is free was such a bonus.

Cons

I had a difficult time separating streams of revenue, initially. When I did try to add new accounts, Wave was a little bit "glitchy".

Rating breakdown

Value for Money
Ease of Use
Customer Support

Likelihood to recommend: 10.0/10

Alexander C.

Wave is an outstanding accounting app

Reviewed on 2016/01/17
Review Source: Capterra

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.

Rating breakdown

Ease of Use
Customer Support

Nate M.

Be aware!

Reviewed on 2016/02/14
Review Source: GetApp

Be aware!

Let’s get straight to it. No polishing, no lies.

Wave’s actual system is pretty good. If it “actually” worked…
One sad truth about this company that you’ll notice right away is that their servers or hosting is worse than blogs were in 1980. It is slow, freezes and crashes all the time. Way too annoying to work with on a daily basis for a professional company. Bottom line: the system is unreliable.

Moving along to the stuff that matters even more…

Customer service, honesty and professionalism. Uum, try again. You will not find any of that in this company. They clearly have no clue what it means to run a professional service.

Last week I processed two transactions. Both of them were more than 2 grand.
Keep in mind that i’m a new startup that needs my money right away, or at least when promised.

2 days go by and no money. Okay…. here we go again. I email Wave asking what’s the deal with the money.
I say “again” because I had the same thing with my first few small transactions. But then I thought it was only because I was a new customer so they had to confirm some details. (by details I mean force me to show them communications between me and my clients).

That same day I get an email from the department that deals with the money saying in fancy words that they are withholding my money for security reasons until they can confirm some details. Again they ask for communications and authorizations. (who do they think they are?)

I respond within 2 minutes with snapshots of communications and conversations straight from my client explaining who he is and that he authorized the payment.

a day or two goes by and nothing. You can imagine how angry I feel about now. Projects are on hold, business stops, Wave is running me into the ground….

Of course there is no one to talk to until you sign up for the live chat at ($9 a month). So I sign up, because I cannot wait. Open a chat, explain to the woman really respectfully what is going on, she looks it up for 10 minutes and responds by saying that she sees my ticket (email) and that she will escalate it to the top… blah blah blah.

So there I learn that live chat is basically if you have a question regarding the functions of the site, but it is basically useless regarding the things that really matter. MY MONEY!
In short, you CANNOT contact anyone about it, you can only email. But emails, despite their promises may take 3 days get answered.

So I send another email asking what’s going on and get a response that since I submitted 2 emails my ticket was moved back down to the bottom. (That wad their way of apologizing or exusing themselves).

In that same email they don’t tell me that my snapshot isn’t sufficient or anything like that (even though it worked for the first 3 transactions), they tell me that they need to speak to my clients to confirm payments…. Really? …. wow, okay

I respond within 2 minutes with two phone numbers.

(this is Friday after 5pm)

One of my clients get’s a phone call, confirms payment and they tell him that the money will be released “right away”.

The second client get’s a phone call, but misses it. (He is still waiting for another phone call). And of course you cannot call them back, because they use fake phone numbers using local area codes.

Well, guess what? The money from the first client that got the phone call from them was not released… and it’s Tuesday already. (almost a week from when I processed the transaction).

Never heard anything back from them in past 3 days!!

Conclusion: (aside from me being so frustrated, hardly able to contain myself)

Well, firstly I would like to say that I switched to Quickbooks online right away. They are a professional company with lower rates and faster deposit times (ONE DAY!). And you can call them!

The only reason I chose Wave over Square is because they had a good invoicing system. But i’ve used Square before and never had issues like this.

What I mean is this: Why make an issue when there is none????
Wave makes security issues when there is none.
I’m a legal, professional company in the United States. Why in the world would you pretend like there are security issues with my transactions if no one ever disputed or complained? There is no answer. Because if there was a valid answer, Square and Quickbooks would be the same concerned.
Stop making issues where there are none.

I would advise anyone reading this to go with Square or Quickbooks. You will end up being much happier. Unless you can afford these criminals withholding your money for as long as they like.

So again: system: too slow, crashes and freezes. OH, and annoying advertisements.
Support: only for functionality questions.
Service: absolutely horrible and un professional.

You choose.

Thanks!

Rating breakdown

Value for Money
Ease of Use
Customer Support

Brad M.
Industry: Marketing & Advertising
Company size: 2-10 Employees

Budget Friendly Accounting

Used Weekly for 2+ years
Reviewed on 2020/06/19
Review Source: Capterra

Over the 7 years that I have been using Wave, I have watched it evolve into what it is today and am blown away by the features available at absolutely no cost. When I started out, the Free price tag saved me, but over time I expected to upgrade and pay for the service, but it never came. I get all the bells and whistles like everyone else, for nothing. So a big thank you to the Wave team for helping Small businesses across the world. (Love from South Africa)

Pros

Other than the fact that the software is free to use, I mostly love that it was built for Small Businesses. I Have personally made use of the software since 2013 and recommend it to every business owner that I come across. Most people think that you MUST pay for accounting software to get a good product but this is simply not the case with Wave!

Cons

It is difficult to fault this. I guess if anything, I wish it integrated with more platforms such as WooCommerce, and Zoho CRM. With the intergration I would be able to streamline my business process a little better.

Rating breakdown

Value for Money
Ease of Use
Customer Support

Likelihood to recommend: 10.0/10

Vincent T.
Industry: Accounting
Company size: 2-10 Employees

Wave Accounting for SME in Fiji

Used Weekly for 6-12 months
Reviewed on 2020/11/09
Review Source: Capterra

Wave Accounting is very cost efficient & cost effective for small businesses here in Fiji. The overall experience has been a pleasant one and I would recommend it to small business owners only.

Pros

Right off the bat, perhaps the biggest pro of Wave Accounting is the fact that it is 100% free. A simple plug & play app that allows users the ability to have an accounting software to keep their books in order. Also, like QuickBooks, the feature that allows users to attach source documents with the transactions is a huge plus. It is very useful in Fiji because our Tax Authority conducts random audits & failure to produce source documents results in huge fines and penalties. The home look as soon as you login is very useful too. It shows the expenses breakdown over a certain period along with other charts like your Profit & Loss as well as your cash flows. Wave Accounting is really good for small & medium business owners who have limited accounting knowledge. The software does the work for them and it is very straightforward.

Cons

Perhaps the biggest drawback for me is the difficulty in producing specific reports. I tried to produce an Accounts Payable report to see the Tax Input the business had for the 1st Quarter of 2020. However, the options provided was limited and therefore key fields were left out of selection. Although you could import data from Wave Accounting to Excel, it is very limited. Also, being in Fiji, I noticed that features like Payroll & Banking options are not available here. This was a drawback especially because Bank Reconciliation had to be manually done on an external app or software.

Rating breakdown

Value for Money
Ease of Use
Customer Support

Likelihood to recommend: 7.0/10

Brad D.
Industry: Consumer Services
Company size: Self Employed

Hard to beat accounting software, and it's free!

Used Daily for 2+ years
Reviewed on 2018/12/14
Review Source: Capterra

I have used Wave for several years now and have never had a serious issue. Highly recommend for anyone starting out on a budget for keeping up with their day to day business.

Pros

For free software with no ads or other catches, Accounting by Wave is hard to beat. The interface is easy to navigate and simple to understand. For a very small business that has a tight budget and needs basic business reporting accounting, this is perfect. It's also in the cloud, so you can access it anywhere there is an internet connection.

Cons

One drawback I see is that there isn't a way to easily back up your data. One click of "delete" and a transaction is gone for good.

Rating breakdown

Value for Money
Ease of Use

Likelihood to recommend: 8.0/10

Leslie B.
Industry: Marketing & Advertising
Company size: Self Employed

Great for billing and Tracking

Used Weekly for 2+ years
Reviewed on 2019/11/19
Review Source: Capterra

Overall, Wave is integral in my business. I use it almost daily to keep track of my income and expenses and to ensure billing is completed.

Pros

It is free to use for tracking income and expenses. It is free to send estimates and invoices. Clients can be billed recurring and can set up auto pay. The cost is the same as paypal, etc.

Cons

I have some connectivity issues with some cards that may or may not be due to their software. There is some rigidity in the accounting that I am working through.

Rating breakdown

Value for Money
Ease of Use
Customer Support

Likelihood to recommend: 10.0/10

Nathan B.
Industry: Construction
Company size: Self Employed

Free Accounting Software

Used Daily for 6-12 months
Reviewed on 2018/10/20
Review Source: SoftwareAdvice

Great value for the investment (free) the paid version offered a few more support options, steer clear of you are in construction, currently you'll want quickbooks or another app that has project accounting for those lines of business, otherwise Wave is great!

Pros

The feature set of Wave truly sets them apart from the competition, especially when they are offering the services free.
Wave offers a mobile app to help manage expenses and business functions.
There is a robust chart of accounts platform making organization easier than quickbooks.
Wave also has payment and bank account integrations which could save a business owner hundreds of hours of work per year, however this function is clunky.

Cons

This would not be a good platform for construction companies as there is not any project accounting functions.
There are also no good ways to migrate from quickbooks to Wave. I simply reported my data from quickbooks and have it filed, there is no import functions.

Rating breakdown

Value for Money
Ease of Use
Customer Support

Likelihood to recommend: 10.0/10

Verified Reviewer
Industry: Retail
Company size: 51-200 Employees

Easy Custom Invoice Creation + Reporting

Used Daily for 6-12 months
Reviewed on 2019/12/03
Review Source: Capterra

It took me a while to figure out where to find year to date invoice totals. I did find it once, but I have NO idea where I did find it.

Pros

Very easy to customize invoices and keep track of billing. I'm NOT an accountant, and this was very easy for me to figure out how to set up a custom invoices and keep track of payments.

Cons

Seems like it's really pushing to have me collect payment thru the application. Unfortunately, all of my clients want to pay with direct deposit or a check, so I can't have the invoices paid with a credit card. However, they do let me enter payments manually, so that is fantastic that I am not forced to collect payment thru the app.

Rating breakdown

Value for Money
Ease of Use

Likelihood to recommend: 10.0/10

Jill S.
Industry: Hospital & Health Care
Company size: Self Employed

The (nearly) perfect FREE accounting software

Used Daily for 2+ years
Reviewed on 2018/11/21
Review Source: Capterra

I really like Wave and recommend it to every business owner I know.

Pros

Besides the fact that the basic accounting side is FREE, I love how easy it makes my taxes since every transaction is labeled and easy to re-label if necessary. Connecting banks and credit cards is simple, and the interface is intuitive.

Cons

Customer support can sometimes be slower than I would like (on the order of a day or two, rather than hours), but I haven't had any emergency issues. I would love to be able to review their payroll feature, but it is not offered in my state yet.

Rating breakdown

Value for Money
Ease of Use
Customer Support

Likelihood to recommend: 10.0/10