Rave about WaveCathy Fanning, IT Consultant9th of October, 2014 00:58
To all you non believers and sceptics, just stop it. I have been the IT industry for a long, long time and consulting in accounting apps for the last ten years. I have worked with and made numerous comparisons. And guess what, Wave is fantastic... Great for business beginners and advanced users. Compared to all the other cloud accounting choices it holds it's own. Why make your business accounting difficult, isn't running a business difficult enough? Wave is growing in leaps and bounds and continuing to add on more and more features. Let's face it, anyone can bad mouth any software out there can't they? Just get on with it and use it.
Wave is fabulous!Danetha Doe, Product Launch Strategist/Accountant/Blogger/Speaker/Professional Giggler8th of October, 2014 21:45
I first started recommending Wave to my clients when I first heard of them two years ago. I absolutely love the ease of use, simple design and fabulous customer service. The team is always answers my questions quickly. And as an accountant, their Pro Network is one of the most supportive communities for financial professionals. And it's FREE. Wave is leading the charge with software developers that are passionate about changing the antiquated accounting industry. For my clients, or prospects, who are new to business, Wave has been an absolute life saver.
Pros: Free, easy to use, great customer service, supportive Pro Network for financial professionals
Cons: No cash basis options, limited reporting
Do yourself a favor, ignore the bad feedback on here.Will Lopez, Innovator, Pioneer in Online Accounting Firms7th of October, 2014 14:09
Our cloud-based CPA firm has been with Wave since the beginning. We have hundreds of clients using Wave. Wave is absolutely EXCELLENT for small business owners and entrepreneurs. What a great platform to start and grow on as a business owner. Wave is also extremely accountant and CPA friendly; I would know, I am one. Shady accountants and consultants leaving bad reviews are doing so because they want you, the aspiring entrepreneur of the next generation, to roll into expensive software alternatives that the same accountant/consultant can up-charge on at the expense of the business owner; what a shame, I thought the world was a better place. There are some concerns about Cash vs. Accrual: Wave works strictly on the accrual basis of accounting which is THE best way to operate your business. Ask any true Accountant, cash basis is the quick and dirty way out. Accrual basis is THE best way to receive wonderful business intelligence from. Your are limited with Cash Basis reporting. Once again, I would know I'm a financial statement auditor for multi-billion dollar businesses. If you need a cash basis financials for tax reasons, well your Tax Accountant, if knowledgeable and half-way decent, can easily convert cash basis to accrual basis financials with a couple steps. Done! Let Wave do it's part, let your Pro do their part, and you can focus on growing an amazing business. So do yourself a favor, ignore the bad feedback on here, setup a Wave account for free, connect with a WavePro for free and start shaping the future.
Pros: billing integration with Stripe merchant, recurring Invoice with automated payments, simple financial reports, easy categorization of bulk transactions, responsive customer support, payroll integration, very user friendly dashboard
Cons: no cost accounting modules, income statements by revenue streams.
Best Cloud-Based Bookkeeping Solution for Small Business OwnersAnthony Tropeano, CPA, Certified Public Accountant at TropezCPA7th of October, 2014 12:35
I have been using Wave for nearly 3 years now and recommend to every small business owner. Not only is it a free cloud based solution, but also due to the following: - Fantastic billing feature integrated with Stripe - Recurring invoice option - Numerous Reports - Reports are easy to understand for the non-accountant - Filtering categories and descriptions is very easy and allows the user to update their books very quickly - Seamless integration for bank and credit card accounts
Best Free Accounting SoftwareJames Krener, Owner of Krener Bookkeeping & Tax7th of October, 2014 11:40
I came across Wave when I started my business almost 4 years ago now. Wave provided me with an accounting system to use for myself and to recommend to clients. My business has evolved over the years and Wave has too. I like Wave because of it's awesome support heroes and it's FREE!! How can you complain about free?? I will always use Wave and recommend it to clients.
Pros: Free Easy to collaborate with clients Complete accounting system Online invoicing Accept payments online
You will regret wave! Save yourself nowBill Savage, Consulting1st of September, 2014 16:23
I have had Wave for about 4 years. I like them fine until this year when I added a business credit card account as a linked account on a new company I set up. When you connect to the bank, Wave brings the credit card transactions in with debits as debits and credits as credits. You then show a transfer from your main to the credit card to show a payment. Fine. HOWEVER, if you need to import credit card transactions, as in bring in a batch of old ones that were present before you set up wave and need to have your entire year in there to do your taxes, wave brings an imported file (csv, etc) from the very same back, in exact opposite. The debits are credits and credits are debits! Now you're stuck with one portion of your transactions showing in one method, the other in another method, making your books a completely inaccurate mess! Wave wants to point the finger at the bank and has no solution for this, other than going in and manually deleting every line that is messed up, then manually adding in each line again as it should be! Wow. I'd be better off doing old school manual books. If you never intend on having a credit card account linked to Wave, then go ahead and use them. If, however, you think you might ever want to have a credit card account show in your books, save yourself now and look elsewhere!
Pros: Free, relatively simple, bank connections (though they are often not working properly)
Cons: Terrible support, shouldn't be used with a credit card (or other credit line) account, not friendly to business that purchases inventory for resale.
Great features!Daryl31st of March, 2014 11:28
Have been using Wave for over a year now and I will never go back.
Cons: Lacks Square integration
Lousy customer service, full of glitcheskeith31st of March, 2014 06:57
Have been using Wave for around two years. Problems include lost data that had to be re-entered manually and numerous bank connection issues. I Feb 2014 they announced and initiated a new bank connection process. Since then my bank connections have not worked and the site won't allow me to set them up again. Each support request takes 5-7 business days to get a response. This problem caused me to have to file an IRS extension. Very unhappy.
Pros: Easy user interface (when it works)
Cons: Terrible customer service and support. Very slow response to any support request
If OnlyCash vs Accrual14th of March, 2014 11:07
I've been using Wave for 9 months and have been satisfied with the ease of use, but Wave does not off Cash basis accounting. Wave is supposedly designed for small businesses, most small businesses in the US use Cash Basis. All your invoices are shown as income as soon as they are generated, lots of fun with taxes. Additionally bank sync is inconsistent, invoicing customization is very limited, seem to miss the drop down menu concept in a lot of areas. "You get what you pay for", Free.
Cons: Accrual Basis only - check Wave forum for timeline, yikes
Regretfully closed my accountJohn W.7th of February, 2014 16:58
After months of trying Wave, we have to abandon it. It won't update our business bank accounts consistently, i.e. balances don't match despite the app displaying "okay" by the account. That's a deal killer. Too bad, because I really liked the service overall. But SAAS intended for commercial use can't behave this way; too much at risk for a business.
Pros: - Nice User Interface/Design - Great Customer Service - Good Marketing
Cons: - Inconsistent/lagging bank account updates - Lost my trust
Close but...Almost a fan13th of December, 2013 20:56
Free great basic software. Main problem for me is that the categories are not customizable so I cannot track expenses and income effectively. Seems like a simple fix to allow users to create their own categories.
Pros: Free solid platform.
Cons: Flexibility and customization.
Outstanding Customer ServiceWest Coast Measuring17th of September, 2013 12:44
Fantastic app that just keeps getting better. Customer service is first class - issues are dealt with professionally and quickly! Credit Card payments, although a little pricey, make accepting payments from customers extremely easy & efficient. Just need to add time tracking integration...
Pros: Customer Service Bank Integration Credit Card Payments (stripe) Clean Invoicing Ease of use
Cons: no time tracking integration (paymo?)
Excellent app, by far the best all-in-one affordable solutionMary C.1st of August, 2013 10:46
I've been using Wave for 2 years now, granted there was a hiccup last December, their customer support was more than responsive in solving the issues. All in all, this is by far the best sort of all in one solution I've found for accounting, invoicing, receipts, and payroll. All the core functions are completely free no limits, and the payroll is reliable and affordable (something like $4/employee + a $5 monthly fee). Some invoicing features are missing you can find in invoice specific applications, though the integration with my accounting makes up for it. I can even accept credit cards right on the invoice itself.
Pros: Free and unlimited accounting/invoicing Integrated products make accounting easy Cheap payroll for basic needs Payroll mobile app is awesome
Cons: Doesn't have time tracking built into invoices Still growing
Not so goodMick Domon4th of April, 2013 13:03
free but limited, a lot of issues in the past months.
Pros: free invoicing
Cons: Time tracking is not free a lot of issue with the system in the past months.
Integration to Bank (not for CIBC though!)No bank integration to CIBC2nd of April, 2013 18:32
Not happy to learn that Wave Accounting does not integrate to one of the Big 5 Canadian banks, CIBC (Canadian Imperial Bank of Commerce). Luckily I have a RBC account and it can link to that...
Pros: TD, RBC, Scotiabank, and BMO (the other 4 of the Big 5 Canadian banks) all supported. Even Credit Unions like Vancity is supported.
Cons: CIBC not supported
Used to be goodMike30th of March, 2013 17:04
So, Wave did an update in December 2012 which was promised to make it the best free accounting system on the market - It was a very poorly executed rollout. There had been clearly no user testing and worse of all they took away functionally that was there before, such as the ability to mark an invoice as 'sent' or a PDF version of an invoice that actually looked correct and added up. After two years of using Wave I'm leaving. It was good, but now they are only interested in developing new revenue streams for themselves and not correcting the errors.
Cons: see above.
We're very sorry for the situation that happened in December 2012 and our support teams were working nearly 24 hours a day to help our customers and repair the issues. I'm happy to report that everything since has been restored with extensive new features added in accounting, invoicing, receipt management, and more. We're still a free service for accounting and invoicing with no limitations, and provide affordable payroll and credit card collection solutions that integrate with your accounting directly.
Hope your business is doing well.
Best EverPuddle Town Woodworking.com22nd of February, 2013 12:33
Was VERY simple to integrate into my woodworking business. Since most if not all my transactions are electronic, categorizing my expenses has never been simpler. Thanks for eliminating my shoe box :)
Pros: Simple & Intuitive, FREE
Cons: Would like integration with Google Merchant, but not that important to me at this time,.
Pretty basic but goodJanis7th of February, 2013 14:32
This is a tool for small business only but it does exactly what I need without all the hassles. Just straight forward book keeping & invoicing. Keep it free please!
Give it a shotpeter mitchell31st of January, 2013 08:35
I've been using Wave Accounting (Wave Apps now) for almost 5 months now and I love it. I love the fact that it is free, its simple to use, and meets all of my needs. Give it a shot I'm sure you will like this app too
Fast, elegant and freeThomas Simpson4th of September, 2012 05:46
I run a consulting business and have always struggled with invoicing, accounting, tax forms etc... I signed up for Wave and quickly found that it solved all of my needs. It links with my bank accounts and credit cards, gives me professional invoicing and tracks all of my sales tax for free. Hopefully I will be expanding and can add in payroll. Definitely 5 out of 5.
Awesome and freeWhizz12th of June, 2012 04:18
Does what the rest do, just as nice, only it's free free free
Pros: Usual cloud stuff
Cons: NZ Bank Integration, but not so surprised as NZ banks keep changing their two factor identification standards.
Free Accounting application that saves me a lot of timeOliver22nd of November, 2011 12:32
Basically, Wave Accounting is a gratis web based application that accountants use to record transactions, to create invoices, and to their current financial position. But Wave has actually loads of other functionalities which surprised me when keeping in mind that we are talking about a free application. Once you managed to set up everything with your online banking (which was not very difficult) , Wave syncronized regularly. Even when you’re not online. Then when you come online it gives you a list of newly imported transactions. When setting up a new customer account you simply have to create a new product or service and type in the date and the invoice number. If you have an invoice you can have Wave send the customer a PDF copy which is very effective.
Pros: Wave is easy to use, it has great currency options and creates appealing reports.
Cons: There could be more options to customize your invoices.
Wave considerably optimizes accounting tasksBlance Coddington18th of November, 2011 12:51
Wave is a great web-based accounting tool because it automates all the little tasks that used to consume so much of my time. The interface is pretty intuitive, I picked it up quickly. I especially like the reporting of Wave, it´s quick and includes all the data that business owners need to know on a regular basis. My team uses Wave now and I can see that we can avoid some of the unloved tasks.
Pros: Free, clean interface
Cons: Invoice categorization is a little bit complicated
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