GoDaddy Bookkeeping vs. Wave Accounting

Perfect for US market but not transferable to UK market, needs some upgrades for this. Even when set up with a UK address it won't allow changes in tax year end, presuming that tax year starts Jan - Dec. Also shows dollars instead of pounds even though figures were correct with solution.

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Wave Accounting was used for a small practice without a lot of the accounting considerations a large company would have. For the price, you really can't beat what Wave offers out of the box. All of the basic tools for things like invoicing and expenses are all easy to use. End of year accounting is easy with exports of data.

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• Invoicing and linking payments to them.
• Creating estimates for my clients.
• Making tax time easier with easy P and L statements and categorization of expenses.

• Reconciliation is very difficult with multiple Wave transactions that need to be deleted or merged before it can be matched to a bank transaction.
• Payroll worked fine for us but took several days to get it set up. We have switched to another bookkeeping system and another payroll system. Canceling with Wave took several days and they charge $6 for something even though the month was paid for in advance.
• Credit card processing is nice and worked fine for us.

• More complex tax prep features
• Better filters for tax purposes
• More tools for tax returns

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• I know that credit card processing is a way for Wave to make money, but I really wish they offered ACH payment on Invoices.
• I do cash-based accounting, which means I have to make little journal entries at the start and end of each year to get my books to balance because Wave wants to do everything differently. This should just be a setting to flip, whether you want cash-based or accrual-based.
• They use Yodlee for bank connection, which doesn't play nice with 2FA. Pretty much every time I log in I have to re-enter credentials, get a code sent to me, reauthenticate, and know that I'm going to have to do it again next week. Not really on Wave, but wish they could get it together nonetheless.

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A de minimis incentive was given to thank the reviewer for their time. The incentive was not used to bias or drive a particular response, nor was the incentive contingent on a positive endorsement. More Info

Easy to use for clients with no accounting background and the price is right.

Loses marks on the tax year only being Jan - Dec and inability to change that to a UK format and choose your year end date.

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A de minimis incentive was given to thank the reviewer for their time. The incentive was not used to bias or drive a particular response, nor was the incentive contingent on a positive endorsement. More Info

I am a professional bookkeeper and I have no problems using Wave and all of it's features. I can see that certain individuals who have no accounting knowledge might struggle with a few different features and entries, but that is why Wave has an emphasis in connecting users to Wave Pro's who will walk them through things

WAVE is always available when we need it ! Peter

Wave does tend to slow down when filtering your transactions screen especially by date. This is more of an issue when trying to trouble shoot certain transactions or clean-up a set of books.

I never had to call Wave Support as we barely experienced any support-related problems on our side. However, I do know a few people that complained about Wave support. It would be nice as well, though if they could have more in your face tutorials for new users or how-to videos should we struggle to do something

easy to use and east to train on ! Our WAVE clients enjoy the ease of use

I already use GoDaddy for a lot of my website clients so tried the bookkeeping out and really liked it! I tried a few others but nothing worth the price difference. I have tried a few other time trackers as I wish I could live track my time vs entering a little a time.

Wave is FREE for most functions. Payment processing costs no matter where you go (as does payroll or taxes). Wave rises above tools like QuickBooks Online because they know that for our small firm, being nimble is the name of the game. We don't need exhaustive reporting and management like QB offers and we certainly don't want to pay for it

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Once they out grow what is ability to move up to a more robust system?

• Low monthly cost compared to other accounting software
• Easy to use and learn with
• Gives me the basic numbers I need for book keeping and taxes for a small business

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• Wave has been ROI positive for our company. With not having to pay for the service we can use our money for growing our business.
• The fees on credit card transactions for invoices are reasonable especially as we don't pay a monthly subscription.
• The invoicing feature has made our lives easier for us and our customers. The invoicing piece and AR tracking has been ROI positive as well.

Incentivized

Independently Invited by TrustRadius

A de minimis incentive was given to thank the reviewer for their time. The incentive was not used to bias or drive a particular response, nor was the incentive contingent on a positive endorsement. More Info