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Wave Accounting

What Is Wave Accounting?

Wave offers 100% free, real double-entry accounting for small businesses. As a cloud-based software, Wave allows you to access your data from anywhere, add unlimited collaborators and work on all of your businesses from a single login. Wave eliminates data-entry and puts the financial reports you need at your fingers tips, allowing you to spend more time doing what you love. Your accounting is also seamlessly integrated with invoicing, receipt scanning, payment processing and payroll.

Who Uses Wave Accounting?

Wave's target market is small business owners (1-9 employees), freelancers and solo entrepreneurs. Wave has users in 200 countries around the world and our ecosystem is 4 million strong.

Where can Wave Accounting be deployed?

Cloud, SaaS, Web-based, Android (Mobile), iPhone (Mobile)

About the vendor

  • Wave Apps
  • Located in Toronto, Canada
  • Founded in 2009
  • Chat

Countries available

Australia, Canada, China, Germany, India and 3 others

Languages

English

Wave Accounting pricing

Starting Price:

Not provided by vendor
  • Yes, has free trial
  • Yes, has free version

Wave Accounting has a free version and offers a free trial.

About the vendor

  • Wave Apps
  • Located in Toronto, Canada
  • Founded in 2009
  • Chat

Countries available

Australia, Canada, China, Germany, India and 3 others

Languages

English

Wave Accounting videos and images

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Wave Accounting video
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Compare Wave Accounting pricing with similar products

Wave Accounting

N/A
Free Version
Free Trial
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US$7.60/month
Free Version
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US$15.00/month
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Features of Wave Accounting

  • ACH Payment Processing
  • Access Controls/Permissions
  • Accounting Software
  • Accounts Payable Software
  • Accounts Receivable Software
  • Activity Dashboard
  • Alerts/Notifications
  • Bank Reconciliation
  • Billing & Invoicing
  • Budgeting/Forecasting
  • Cash Management
  • Core Accounting
  • Customer Statements
  • Customizable Branding
  • Expense Tracking
  • Financial Analysis
  • Financial Management Software
  • Financial Reporting Software
  • Fixed Asset Management Software
  • Fund Accounting Software
  • General Ledger
  • Income & Balance Sheet
  • Inventory Management Software
  • Invoice Creation
  • Invoice History
  • Invoice Processing
  • Mobile App
  • Multi-Currency
  • Online Invoicing
  • Partial Payments
  • Payroll Management
  • Profit/Loss Statement
  • Project Accounting Software
  • Purchase Order Management
  • Receipt Management
  • Reporting & Statistics
  • Tax Management Software
  • Third Party Integrations
  • Time & Expense Tracking
  • Transaction History

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Reviews of Wave Accounting

Average score

Overall
4.4
Ease of Use
4.4
Customer Service
4.1
Features
4.2
Value for Money
4.7

Reviews by company size (employees)

  • <50
  • 51-200
  • 201-1,000
  • >1,001
Laura G.
Laura G.
Photographer in U.S.
Verified LinkedIn User
Photography, Self Employed
Used the Software for: 2+ years
Reviewer Source

Alternatives Considered:

Best accounting software to grow as a small business

5 last month New

Comments: The overall experience with Wave has been very good. With some hiccups on the roadmap, Wave has evolved by leaps and bounds from a pretty basic software to quite a powerhouse, even for the free version. If my business grows and I will feel the need to add more features such as payroll and tax advisor use, I will still remain a Wave believer!

Pros:

I've used Wave since 2009!!! I feel like my company grew with it. It's helped me understand all I was doing right (and wrong!) financially in my business. It helps tremendously when filing monthly sales taxes. I keep a habit of staying organized, verifying all transactions and reconciling with my bank accounts. All of this, plus categorizing everything the right way makes tax time an absolute breeze - my taxes are done in two days and I don't need to freak out about it because everything is organized ahead of time and all I do is input expenses and sales.

Cons:

What I least like about Wave is that a few years ago they stopped support for free accounts. Absolutely no human support whatsoever. Disagree with that big time!!! Sometimes also a bank connection will be interrupted and you cannot reconnect for many many months and since there is no support, you are left without any help. I am a small business of one person and I do not need any of the paid features that Wave offers so I could be upgraded to paid support, so I am always stuck in no human support land. It doesn't feel good, especially to someone who has used this software for as long as I have.

Verified Reviewer
CEO in U.S.
Verified LinkedIn User
E-Learning, Self Employed
Used the Software for: 2+ years
Reviewer Source

Great accounting software if your business is just getting started.

5 2 weeks ago New

Comments: I found that the interface was easy to use and learn.

Pros:

The best thing about Wave software is that it's free to get started. So if you are starting a new business on a budget and feel you don't have the money to spend on a book-keeper or expensive software this is good first choice. I used Wave to run Profit & Loss statements and Balance Sheets. I found that the interface was easy to use and learn. It was recommend by my accountant for book-keeping, and I'm glad I started with it.

Cons:

I was only allowed to upload about 6 months worth of old transactions from my bank, but I had a lot more.

Samantha E.
Owner in U.S.
Law Practice, 2-10 Employees
Used the Software for: 1+ year
Reviewer Source
Source: SoftwareAdvice

Alternatives Considered:

Not enough features and virtually NO customer support

2 4 weeks ago New

Comments: It was fine when we had one part-time employee. But for all the real-life scenarios that pop up when you have full-time employees, it's useless. The customer service is also super disappointing and unhelpful. We only use it for payroll, which should not require much in terms of software so I can't imagine trying to use it for accounting.

Pros:

I like how easy it was to set-up--that process was straightforward and the interface initially was easy to understand. Unfortunately as we needed to do more after adding a full-time employee, it proved impossible to work with or use.

Cons:

For payroll you have no options, and even when they recognize this, they don't provide a solution. A good example--we had an employee who had maxed out her vacation hours, but we agreed to let her take a few unpaid vacation days. There was no way for us to do this within Wave (you get paid vacation time or nothing). I chatted and even emailed with various representatives--all of which were super unhelpful, and we ended up wasting a lot of time before just being told this isn't an option. That's another huge con--there is virtually no support. The chat bot is not only unhelpful, but real agents are usually unavailable or there's a 20+ minute wait. The system is also not improving like I'd expect. I was notified today that my card declined for some reason so I followed the instructions that Wave emailed me to try to fix it, and it's like someone wrote them without looking at Wave's website because none of the instructions match. Not only is there not a change payment button but there's a Q/A at the end of the page where a user specifically asked this question, and there's no answer! I kick myself for picking this software, and we're in the process of moving to Gusto right now.

Verified Reviewer
Land surveyor in South Africa
Verified LinkedIn User
Civil Engineering, 2-10 Employees
Used the Software for: 1+ year
Reviewer Source
Source: GetApp

Alternatives Considered:

Wave Accounting

5 3 months ago

Comments: I was able to quickly send professional estimates and invoices on go and I didn't have to keep a lot of envelopes with receipts any more, I could just scan receipts and attach them to a bank transaction. Before I even get an accountant, I would easily see the performance of the business from the cash flow graphs and profit and loss graphs.

Pros:

Setting reminders to be sent to clients for payment is the most important feature from wave in my opinion. Also being able to create recurring invoices you you don't have to do the same thing every week or every month. My other favorite is customer statements. Pulling out customer statements and sending to your clients gives you points in terms of professionalism. I also appreciate that when Wave stopped operating in South Africa they recommended Zoho and gave us a year of free use of Zoho. Even though I did not like changing, this was a very thoughtful move by wave.

Cons:

For some reason wave starting giving limited access to its South African customers and partnered with Zoho for customers to migrate. Even though the apps are similar, they're not the same and it took a little bit of time to now learn Zoho a new app.

Danielle R.
Marketing Nerd in U.S.
Marketing & Advertising, Self Employed
Used the Software for: 6-12 months
Reviewer Source

Excellent value

5 2 weeks ago New

Pros:

It's incredibly easy to use, generates extensive reports, and makes invoicing clients simple.

Cons:

None. I am completely satisfied with this software.