Wave Accounting Reviews & Insights

Score8.2 out of 10

179 Reviews and Ratings

Community insights

TrustRadius Insights for Wave Accounting are summaries of user sentiment data from TrustRadius reviews and, when necessary, third party data sources.

Pros

Comprehensive and Versatile Software: Users have found Wave Accounting to be a comprehensive and versatile solution for bookkeeping and budgeting. It has been praised for its ability to effortlessly track and categorize financial transactions, streamline invoice creation without redundant data entry, as well as generate various financial reports.

Cloud-based Accessibility: The cloud-based nature of Wave Accounting is highly appreciated by users, providing them with easy accessibility from any computer while eliminating concerns about computer glitches or server problems. This feature has been mentioned by numerous reviewers.

Powerful Invoicing Feature: Users have lauded the invoicing feature in Wave Accounting for its power and user-friendliness. They can easily create and send invoices, keep track of due dates, and mark off paid invoices. The software also provides automatic invoice numbering, facilitating quick reference to different invoices.

Wave Accounting Reviews

2 Reviews

Mid-sized Companies (51-1,000 employees)

Good Accounting Software for SME's

Rating: 9 out of 10

Incentivized

January 13, 2022

Use Cases and Deployment Scope

We use Wave Accounting for all the financial data of the organization (SME.) The payroll, however, was outsourced. The product addresses a training problem within the organization as it is easy to use, and minimal training is required. We have a platform where we can invoice, bill, track all our expenses and manage our finances with the reports produced by the system. It is very user-friendly.

Pros

Invoicing
Billing
Generate reports

Cons

Recurring invoice numbers not consecutive
Payment speed needs to be faster when making payments
Updates completely changing formats of certain functions

Likelihood to Recommend

Wave Accounting has a very good invoicing function, easy to use, and [is] customized specifically for small businesses. The payment processing function is also very user-friendly. There could be minor improvements to the invoice numbering as they are not always in order, it is not a big deal, but it would really be nice if the invoice number could be specific to each set of clients.

Verified User

Account Manager in Professional Services (Accounting company, 51-200 employees)

Vetted Review

2 years of experience

Wave Accounting a good fit for small startups and entrepreneurs

Rating: 8 out of 10

Incentivized

April 6, 2015

Use Cases and Deployment Scope

While we do not use Wave Accounting at Squire for our internal accounting needs, as an accounting software company we do outsourced accounting for companies using the software and consult and train other companies in setting up and using Wave more efficiently. Wave is a great solution for small businesses in service-based industries looking for an affordable way to track simple accounting needs in a powerful and easily accessible way.

Pros

Price point - most features are free
Cloud and mobile based software available on many devices wherever you are
Clean and simple user interface
Functionality to download all transaction history to CSV for off-site records or conversion to another software at a later date

Cons

Functions are simple and basic - really tailored for service-based industries
There is little growth opportunity within the software for rapidly growing entrepreneurs
No fully functioned tablet app, instead there are a family of separate apps for different functions or accessing the main site via the tablet browser

Likelihood to Recommend

Recommending Wave really depends on the business. If the owner is not currently using accounting software, is a small business that is single-owner or a simple partnership, has about five employees or less and is either service-based or simply buys and resells inventory then this can be a great fit and would get my recommendation. Businesses that don't tend to do well in Wave are businesses that require manufacturing, assembly, kits or other more advanced inventory needs within the software.

Tory Norman, CPA

Senior Small Business & Technology Advisor at Squire (Accounting, 51-200 employees)

Vetted Review

3 years of experience

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