Accounting by Wave

Accounting by Wave

by Wave Apps

Who Uses Accounting by Wave?

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.

What Is Accounting by Wave?

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.

Accounting by Wave Details

Wave Apps

https://www.waveapps.com/invoice/mobile/

Accounting by Wave Pricing Overview

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

Free Version

Yes

Free Trial

Yes

Deployment

Cloud, SaaS, Web

Training

In Person

Live Online

Webinars

Documentation

Support

Business Hours

Online

Accounting by Wave Features

Accounting Software
Accounts Receivable
Bank Reconciliation
Billing & Invoicing
CPA Firms
Expense Tracking
Fixed Asset Management
Fund Accounting
Government
Nonprofits
Payroll Management
Project Accounting
Purchase Orders
Tax Management
ACH Payment Processing
Aging Tracking
Billing & Invoicing
Check Processing
Collections Management
Customer Statements
Online Payment Processing
Overpayment Processing
Partial Payments
Receivables Ledger
Recurring Billing
Accounts Payable
Accounts Receivable
Bank Reconciliation
Billing & Invoicing
Bookkeeping Services Integration
Cash Management
Collections
Expense Tracking
Fixed Asset Management
General Ledger
Payroll Management
Revenue Recognition
Spend Management
Tax Management

Accounting by Wave Reviews

Showing 5 of 938 reviews

Overall
4.4/5
Ease of Use
4.4/5
Customer Service
4.1/5
Features
4.2/5
Value for Money
4.7/5
Andi L.
Founder & Owner
Marketing & Advertising, 2-10 Employees
Used the Software for: 1+ year
  • Overall Rating
    5/5
  • Ease of Use
    5/5
  • Features & Functionality
    5/5
  • Customer Support
    5/5
  • Value for Money
    5/5
  • Likelihood to Recommend
    10/10
  • Reviewer Source 
  • Reviewed on 15/5/2019

"Wave Shows Me the Money!"

Comments: Before I used Wave, I was behind every month on my invoicing. I hated sending invoices, and I really, REALLY hated being the Collections person, asking my clients to pay their bills. Then I found Wave, and my whole life changed. I was able to get set up super quickly, connect to my bank, add my clients' contact information, and set up the template for my invoices. Now, I have "Monthly Invoicing" on my calendar, and it takes me about 15 minutes to handle the task (instead of 2 hours). My favorite emails are, "Congrats! You Got Paid!" from Wave. I feel fantastic!

Pros: Wave has absolutely changed my business for the better. It used to take me about 2 hours a month to do my invoicing, which I hated doing, and so I avoided it. Now, I handle monthly invoicing in about 15 minutes. Plus, as new clients come in or one-off projects are completed, I can send the invoices quickly—like 5 minutes. So ease of use is absolutely the first thing I love about Wave. Second, as a small business owner, I am in charge of acquiring new clients, executing the work, invoicing for the work, and then acting as collections when clients are late in paying. With Wave, I check a simple box that sends reminders to the client when things are past due. What a relief! It's coming from "my accounting department" rather than me. Hallelujah! Third, the payment process is so easy for my clients! They can pay any way they want—check, credit card, bank, whatever. It's so easy for them, and I have had zero complaints. It's also fantastic to know when clients have (or haven't) viewed the invoice. And getting the emails from Wave announcing that I've been paid are the best emails of the day. The fact that all of this amazingness is free? That's just the icing on the cake. Thank you, Wave!

Cons: My only issue with Wave is probably a rare use-case. I manage invoicing for a client of mine. (Side note: Wave made it SO EASY for me to be an admin of her account but not the manager, and I can log into my account to access hers. It is AWESOME!) She sells programs, and her clients generally pay in one invoice. Occasionally, her clients need to pay in installments. It was not easy to set up a recurring invoice for only three months to send to the client, especially without a credit card on file. I had to create three different invoices, and label them as Installment #1, #2, etc. However, I recognize that this is probably a one-off user scenario that not many people would need. And I can't complain when the tool is free, and I found a workaround.

  • Reviewer Source 
  • Reviewed on 15/5/2019
Suzanne R.
Professional Photographer
Photography, Self Employed
Used the Software for: 2+ years
  • Overall Rating
    4/5
  • Ease of Use
    2/5
  • Features & Functionality
    3/5
  • Customer Support
    3/5
  • Value for Money
    3/5
  • Likelihood to Recommend
    3/10
  • Reviewer Source 
  • Source: GetApp
  • Reviewed on 24/1/2020

"Wave error messed up my entire system and they want to charge me $3000 to fix it"

Comments: It was good while it lasted, before their system made my data unusable. They really tried to be helpful, I chatted with several friendly people online, all of whom were unable to resolve my issues. They were unable to refer me to a WaveApps specialist in my area. Ultimately their solution was to offer me one of their bookkeepers at a cost of $3000 to fix the problem they created. No thanks.

Pros: It was wonderfully easy to use, the invoices looked professional and payment processing features were handy.

Cons: TLDR: Major syncing, reconciling and support issues Two of my accounts synced twice (so I had four accounts in Wave where there should have been two) and they were unable to fix this. Their suggested fixes did not work. They have chat and email support but no phone support and even though they logged in as an admin they were unable to fix this problem.
A recent update to their system caused my entire past four years of records to be unreconciled, and the only fix was to go back to the beginning of time and compare each transaction ever made.
They offered me a bookkeeper to do this for me for $269/month for a minimum of 12 months, despite my being very diligent about keeping my account up to date for the past four years.
I have switched to another system now.

  • Reviewer Source 
  • Source: GetApp
  • Reviewed on 24/1/2020
Sutra B.
Owner
Leisure, Travel & Tourism, 2-10 Employees
Used the Software for: 2+ years
  • Overall Rating
    4/5
  • Ease of Use
    4/5
  • Features & Functionality
    3/5
  • Customer Support
    4/5
  • Value for Money
    5/5
  • Likelihood to Recommend
    10/10
  • Reviewer Source 
  • Source: SoftwareAdvice
  • Reviewed on 7/5/2020

"Excellent for the start-up to small company!"

Comments: So far it has been a good experience overall. I haven’t had any issues. I haven’t had very much interaction with customer service other than the initial consultation Coach and the vetting process situation.

Pros: Love this product because of the cost! Free! So many great tools that it offers to include invoicing. You can create all of your own products and services and include your terms & Conditions. Clients can pay directly from the invoice. You can get paid the same day if you attach your business card to your account. It has a payroll feature as well for an additional charge. I love the fact that the reporting is so simple and easy to read. I would highly recommend purchasing this set up package. It comes with consultations and assistance to work through all the process of setting up your account and different categories specific to your business. It was definitely worth the extra money spent. I also like the fact that there are apps available to send invoices if you are away from the office. Also, you can upload receipts directly from wherever you are by simply taking a picture and categorizing it on the spot. No more having to deal with Receipts in the shoebox LOL.

Cons: On the Invoicing I wish there was an option to add tipping. Our clients like to add a tips for our service and while Square offers this feature, Wave does not. There was a weird vetting process that nobody told me about and at first I thought it was a scam and I didn’t reply. But then I confirmed with the consultant I had been working with and they verified that this was in fact something that I had to go through. It seemed kind of sketchy at first, but it had validity with regards to the financial process.

  • Reviewer Source 
  • Source: SoftwareAdvice
  • Reviewed on 7/5/2020
Nate M.
Used the Software for: 1-5 months
  • Overall Rating
    1/5
  • Ease of Use
    1/5
  • Features & Functionality
    Unrated
  • Customer Support
    1/5
  • Value for Money
    1/5
  • Likelihood to Recommend
    Unrated
  • Reviewer Source 
  • Source: GetApp
  • Reviewed on 14/2/2016

"Be aware!"

Comments: 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!

  • Reviewer Source 
  • Source: GetApp
  • Reviewed on 14/2/2016
Sheila B.
Owner
Apparel & Fashion, 2-10 Employees
Used the Software for: 2+ years
  • Overall Rating
    5/5
  • Ease of Use
    5/5
  • Features & Functionality
    5/5
  • Customer Support
    5/5
  • Value for Money
    5/5
  • Likelihood to Recommend
    10/10
  • Reviewer Source 
  • Reviewed on 8/4/2020

"Wave makes accounting easy for everyone"

Comments: We love this program and the fact that our employees find it very easy to use as well. We love the optional add ons that we might need in the future and will allow the program to grow with our business. I highly recommend this program to anyone needing a great program without the cost of the others.

Pros: This software is easy to learn and easy to use. We use it every day to invoice customers and keep up with balances due on accounts. We use it to send reminders when money is owed and to post payments on customer accounts.

Cons: There have been a few glitches where pages didn't load but we were able to get that resolved quickly by contacting customer support. A coupe of times it was due to our own system settings.

  • Reviewer Source 
  • Reviewed on 8/4/2020