Wave Pricing, Features, Reviews & Comparison of Alternatives

Wave  Reviews

Wave

All-in-one accounting, invoicing, payroll, payments, and receipt management solution.

3.64/5 (39 reviews)   Write a review
   24 people use this
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Who is Wave For?

Wave is a fully integrated solution designed for small businesses with 9 employees or less. With our total focus on small business owners, you’ll never have to navigate inflated or cluttered to find what you need, right now. With an easy to navigate interface and single login, it’s never been easier to find what you need, when you need it.

Use the 100% free accounting tools in Wave to gain the insights you need, without the legwork. With our automatic bank connections, your information flows seamlessly into Wave, without the manual entry. And even though it’s easy to navigate and understand, it’s still a real, double-entry application. Collaborate with your accountant or bookkeeper in real-time, and save both of you time!

Use Wave’s invoicing tools to collect your money faster. Choose the template that best reflects your business, load your own logo, and choose a color for your invoices. Email invoices right from Wave, and collect credit card payments through our payment processing. Use Wave’s invoicing tools to stay professional, get paid faster, and keep track of where your money is.

Everyone loves getting paid, but no one likes running payroll. Now, use Wave’s Payroll tools in America and Canada to take the headaches out of running your payroll. With guaranteed accuracy, direct deposit and employee self-service all included, at $5 per employee per month or less it’s never been more affordable for your employees to get paid.

Use Wave’s personal finance tools to gain better insights into where your money goes. With simple budgeting tools, real time investment tracking, and more, Wave’s personal tools are the best way to master your personal finances.



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Wave GetRank

Reviews
Integrations
Mobile
Media
Security

#4 in Billing & Invoicing

View full ranking
65
13
6
16
16
14

#7 in Accounting

View full ranking
57
16
4
16
7
14

GetApp’s ranking highlights the top 25 apps in different categories on GetApp. If an app is listed in more than one category, it has the potential to be ranked in each of these categories. The ranking is independent of any commercial campaign an app vendor has with GetApp. The ranking is based on 5 data points, each scored out of 20: reviews, integrations, mobile apps, media presence, and security.

Wave Screenshots (6)

Security and privacy

Encryption

Yes
Encryption of sensitive data at rest
Yes
HTTPS for all pages

Access control

Yes
Multi-factor authentication options

Data policy

Yes
Data backup in multiple locations/GEO regions
This will ask you to sign in with LinkedIn

Specifications

Intended Users
Freelancers, Non Profits, Public Administrations, Small Business
Devices Supported
Android, iPhone-iPad, Linux, Mac, Windows, Web-based
Supported Countries
Asia, Australia, Canada, China, Europe, Germany, India, Japan, Latin America, Middle-East and Africa, United Kingdom, United States
Supported Languages
English
Support Options
FAQs, Forum, Knowledge Base, Online Support, Video Tutorials
Certifications
TRUSTe, Verisign, DigiCert

Wave Pricing

Pricing model: Freemium

Accounting & Invoicing - Free
Receipt Management - Free
Payroll - starts as low as $10 per month in Canada & $15 per month in USA, $4 per employee for first 10 employees, 11+ $2 per employee
Accept All Major Credit Cards - $0.30 + 2.9%
Personal Financial Management - Free

Competitors Pricing

FreshBooks

Starting from: $9.95/month
Pricing model: Freemium, Subscription
Free Trial: Available (No Credit Card required)

KashFlow

Starting from: £5.00/month
Pricing model: Open-source, Subscription
Free Trial: Available (No Credit Card required)

Intacct

Starting from: $425.00/month
Pricing model: Subscription

Users who visited Wave also visited

Zoho Books
  • · Financial Reports: Balance Sheet, Profit and Loss,...
  • · Expense Tracking
  • · Multi Currency & Multi Country
  • · Purchase Orders & Sales Order
Visit WebsiteCompare with Wave
Zoho BooksFinance & Accounting
FreeAgent
  • · Send estimates and proposals
  • · Beautiful Invoice templates
  • · Automatic Bank feeds
  • · Simple payroll
Visit WebsiteCompare with Wave
FreeAgentFinance & Accounting
Xero
  • · Bank Rec - Automatically import and code transactions
  • · Invoicing - Create and send invoices automatically
  • · Add-ons - Pick from a wide range of powerful add-ons
  • · Dashboard - Instantly see your bank balances, sales & bills
Visit WebsiteCompare with Wave
XeroFinance & Accounting

Key Features of Wave

  • Real accounting, for non-accountants
  • Billing and Invoicing
  • Real double entry accounting
  • Investment tracking
  • Financial reporting (Ledger, A/R, A/P, Income, Balance She
  • Accept all major credit cards
  • Credit Card payment processing in America and Canada
  • Bank integrations to eliminate manual entry
  • Multi-currency
  • Professional reports
  • Seamless invoicing & payroll
  • Personal finance tracking
  • Fully integrated single login solution
  • Personal budgeting tools
  • Profit and Loss

Benefits

Wave is 100% focused on the real small business owners, with nine employees or less. That means you’ll never see cluttered, complicated software that you can’t navigate, never mind understand.
What you will see is all the tools you need to gain better insights into your personal and business finances, all with one login. Whether it’s invoicing, payroll, or personal investment tracking, the days of multiple logins are in the past. And with free accounting and invoicing tools and totally affordable payroll, getting organized has never been more affordable.
Get paid faster, gain insights into your businesses financial health, know where your money goes and pay your employees, all with Wave.

Alternatives to Wave

FreshBooks
  • · Online Invoicing
  • · Time Tracking
  • · Recurring Invoices & Auto Payment
  • · Team Timesheets
Visit WebsiteCompare App
FreshBooksFinance & Accounting
KashFlow
  • · #1 UK Focussed, UK Hosted & UK Supported Accounting Software
  • · Quotes (that can be automatically converted to invoices)
  • · Invoicing (Send via post or Email direct from KashFlow)
  • · Payment Processing (include pay now button on your invoices)
Visit WebsiteCompare App
KashFlowFinance & Accounting
Intacct
  • · Fixed Assets
  • · Accounts Payable
  • · Purchasing
  • · Accounts Receivable
Visit WebsiteCompare App
IntacctFinance & Accounting

Wave Reviews & Ratings

User ratings

(19)
(4)
(5)
(5)
(6)

Rating summary

Overall rating
Ease of use
Value for money
Customer support

BAD!!

Verified Reviewer  20th of January 17:42

A verified reviewer
I've only used this service for a couple of months. I had a problem with a customer making out the check wrong, so I returned it, and he paid by credit card. The payment was to be deposited in my account today, 9 days after it was made, and all of a sudden, my account has been disabled, and I have no clue when I will receive my money. And, now their website is down!!

Pros: Easy to use, nice invoicing

Cons: They apparently like to screw with your money. I will not be using this service again, once I finally get my payment.

Rating breakdown
Ease of use
Value for money
Customer support

I suggest this to my startup business clients

Verified Reviewer  1st of December, 2015 16:51

Quintin Pease, Owner of Geek Dad
I'm two years into my business and for nearly the first year I used Wave. It's what I suggest to my clients who are looking for something cloud-based and easy to use. Yes, it is not perfect, but it's FREE. I currently use InvoiceASAP, but I'm strongly considering switching back to Wave after the first of the year. Why? The cost of one, but features are another. Nothing else free compares.

Pros: Receipt scanner. Invoices look nice. Email is sent from Wave account (Not quite sure that is a plus or a negative). Connects to your Bank Account and lets your categorize the transaction. Dashboard has great-looking layout with graphs. Paid invoices are marked as a receipt instead of an invoice which makes more sense to me. Will alert you of non-payment on a regular basis. Sales Tax Report is basic, but layout is very appealing. Has Premium Payroll option starting at $19/month with direct deposit included. On a more positive note, I recently received an email from the CEO saying to look out for improvements to Wave in the near future. Apparently, there will be new tools and features and it will be faster. I look forward to that.

Cons: The App on iPhone and iPad is slow. I don't remember using support, so I can really speak to how quick or effective they are. It's FREE so I'm guessing it's not superior. It's not Quickbooks, but it works. However, it you have Quickbooks (Stand Alone version) on your computer and you bank with an up-to-date institution that allows you can integrate for a fee and not have to pay an additional ongoing subscription to Quickbooks online.

Rating breakdown
Ease of use
Value for money
Customer support

Best Accounting App

Verified Reviewer  1st of December, 2015 10:56

Nisarg Shah, Partner at Shah Jain & Co, Chartered Accountant
Well, if you are a startup and wanted to have accountant but at no cost with some world class security and autonomous transactions accounting. This is the app you need to have. Very well designed and made.

Pros: easy to understand, free of cost, automatic sync with bank accounts, auto entries, auto invoicing, hell lot of other feature at no cost.

Cons: invoice templates are limited, data and invoices cant be exported as we required. we have to make a request to send. however, request of data were completed within minutes.

Rating breakdown
Ease of use
Value for money
Customer support

Avoid the Personal Incarnation of this App

Verified Reviewer  22nd of November, 2015 20:18

Steve Hemingway, Consultant
When you sign up with wave you get a 'Personal' set of accounts. You can add companies without limit. If you want to understand the full power of this app, you have to use the profile that comes with a company. The reports and chart of accounts you can set up for the personal account are very incomplete. I cannot really comment on customer support. I did email them for a couple of things, but managed to work out how to use the system before I got the response. There is a feature which allows a transaction to be 'moved' between companies. To be perfectly honest I have not fully understood how this works, but the couple of times I attempted to use it, it did not behave in a way that I expected.

Pros: Free, quick, multicurrency, excellent integration with many bank accounts, ability to take credit cards, ability to scan receipts.

Cons: A lot of transactions require you to use a journal. (To my mind) an arbitrary partition of accounts into payment accounts and 'categories'. This allows you to put both accounts on one line: e.g. combining a credit to a bank account with a debit to an expense category.

Rating breakdown
Ease of use
Value for money
Customer support

Wave cares a lot about its customers

Verified Reviewer  8th of October, 2015 21:17

Co-Founder / COO (Sports company, 1-10 employees)
I originally commented and my major complaint was Wave’s terrible customer service. However, since then Wave has stepped up and really made right of the situation. One of their heads of customer success reached out to me and we’ve finally sorted out the entire ordeal. Although a frustrating experience, it is nice to see a large company that is willing to go the extra mile to make sure their customers are happy. Overall, I have minimal complaints about their product. Invoicing is great and a quick way to collect money from clients. We also use their software for reconciling our books and managing our projections and cashflows. Pretty intuitive product and pricing friendly for business owners.

Pros: - Great reporting. Syncing with bank account is a nice feature - Professional looking invoices with fast collection - Price friendly

Cons: - Long response times from customer support at times, but ultimately will fix any issue you have

Rating breakdown
Ease of use
Value for money
Customer support

Terrible customer service, especially when things go wrong

Verified Reviewer  2nd of September, 2015 14:08

Co-Founder / COO (Sports company, 1-10 employees)
I used to be a huge advocate for WaveApps, but they really messed up handling a payment issue I had. They released a new payment processor (internal system instead of using Stripe) and it was the worst thing they could have possibly done. I client paid me, and the money was transferred to someone else's account. Upon realizing this, I immediately contacted WaveApps stating this was urgent. I didn't hear back for 10 days. I contacted again by phone, and then didn't hear back for 10 days. Flash forward 3 months and they told me that they tried pulling back the funds twice (why on earth did it take 3 months to pull back the funds) and that they couldn't help anymore. The final result: I'm out a huge sum of money and WaveApps said that his is case closed for them.

Pros: Simple product and works fine when things are going well

Cons: Terrible customer support, new payment processor needs more attention if they want to move away from Stripe

Rating breakdown
Ease of use
Value for money
Customer support

Response from Wave Accounting Inc.


Thanks for bringing this to our attention. We take these issues very seriously. Our management team is investigating your compliant and the process in which it was handled. We will be following up with you as soon as we can. Thank you for your patience.

Jennifer from Wave

Wonderful Software But So Slow

Verified Reviewer  7th of July, 2015 00:04

Lifeguard Instructor (Education Management company, 11-50 employees)
This software does a great job of invoicing and accepting payments. The big downside is the speed at which it moves. It takes sometimes over a minute to pull up an invoice. When customers are on the phone or inline waiting to pay, it is a very long time. "Time is Money"

Pros: Email Invoices, Simple to Learn, Clean Interface, Easy for customer to use, Has flexibility on how it can be used. Can run more than one business from the same account. Can share with unlimited users. It's Free

Cons: SO SLOW! The time it takes to create an invoice or accept payment over the phone, another software could have done 3 invoices or more. No Customer Portal for continuous tracking. Limited on payment processors.

Rating breakdown
Ease of use
Value for money
Customer support

Response from Wave Accounting Inc.


Thank you for taking the time to leave us a great review, and your support using WaveApps. We're constantly working on product upgrades and releases that help speed up the application.

Our product release update on Aug 7, 2015 made a significant speed improvements to the following areas of the application:

- Invoice list page downloads 20% faster and loads 7% faster
- Invoice view page downloads 24% faster and loads 4% faster
- Accounting page downloads 15% faster and loads 3% faster
- Bills page downloads 9% faster and loads 9% faster

Jennifer from Wave

I want to like Wave, and have been trying for years

Verified Reviewer  7th of June, 2015 04:36

Josh Rachlis, Senior Copywriter at Leo Burnett
..., but I need them to help me figure it out. I have a full-time salaried job as a copywriter and a few self-employment careers, like freelance writing, voice acting. I've always found doing my taxes to be a nightmare. I'd spend months stressing about it and trying to calculate income and expenses. Originally, I was adding up all my expenses with a calculator. When I discovered I could put things into Excel, it got a bit easier add numbers. And then about 4 or 5 years ago, I started using a new accountant, and he suggested Wave to me. I was excited to hear that it would important my bank and credit card statements, and that I could then quickly and easily categorize everything. I was sure this would save me so much time and stress. But I found Wave very hard to use. I wasn't sure how to create my own categories. I could never tell if my statements had been uploaded completely, and I would often wind up with duplicate transactions. And I still can't find a way to view the categories after I've allocated transactions to them. I tweeted to Wave a lot, and they were nice enough to send one their IT guys to sit with me in a coffee shop for a few hours. He watched as I tried to do things and he gave me help. He said this was useful to him, to see what people might be having trouble with. And, I figured I would then be ok. But I'm still having a lot of trouble. I'm not asking a lot. All I want to be able to do is import my bank statements and credit card statements, and categorize all the transactions. And being able to invoice people would be nice too. And it seems that his app has those features. But I still find it very complicated. I don't understand the categories. I can't find where the totals are. And lately, my mbna Mastercard has been saying it can't link to Wave. So tonight, I went in and started deleting all the transactions from 2014, hoping that I could start fresh and be sure that everything was imported correctly. But now I see that mbna won't give me the data files for before August (that's an mbna problem, not Wave) and I can't undelete what I deleted. And there's no way to get support without paying for it. But I don't want to pay until I'm confident the site can do the simple things I need it to do. Anyway, I'd love to support a local Toronto company. And I appreciate that someone from the company sat with me in person. And I see people reviewing positively, saying it makes a freelancers life easy. Someone even tweeted today that Wave makes doing accounting fun. But I just don't understand how people are able to use this site. If someone from the company, or one of the satisfied customers, could explain to me how to use this site properly, I'd love to be converted. But at this point, I fear I need to cut my loses and simplify my life by paying for some other software. I just want to be able to file my taxes and concentrate on my creative projects.

Pros: It seems like it offers the ability to import credit card and bank statements, categorize expenses, and invoice people. Those are the features I want. But...

Cons: ...I haven't been able to figure out how to smoothly and accurately use the features I want. This app is making my life harder than it was when I just manually typed in all my expenses into a Microsoft Word and added them up with a calculator.

Response from Wave Accounting Inc.


Thanks for sharing with us your experience. Firstly, thanks for being such a valuable customer over the years. We especially appreciate your patience trying to make WaveApps work for your financials.

We have available Premium Support for customers who are getting started with Wave. We suggest those looking to best learn work arounds, and setting up proper customizations subscribe to our chat and phone support (unlimited - 9am-5pm EDT M-F) - $49 for three months. You can place a call and speak to one of our product specialists to help you work through your challenge.

If you could reach out to me jdaly@waveapps.com. We'll try to match you with a member of our team to help troubleshoot since you have invested your valuable time into Wave to manage your business financials.

Jennifer from Wave

Very poor customer service

Verified Reviewer  28th of May, 2015 20:46

David Tolbert, Owner Veterans Movers
Have been using wave for about 6 months.So far since they have added the new payments options to receive credit card payments I have had numerous problems with my account. Ongoing for over a month the connections in my account have never worked properly. Since I wanted a faster response I opted for the 9.00 per month charge to have access to live chat. But that has proven to be of no use as I still have issues.Since starting with the new payment features my account has been disabled twice.Holding payments up for as much as a week. And you have to email back and forth for several days until the problem is resolved. Getting customer service on the phone is next to impossible.When we first started there was a phone number listed to call,I noticed recently it had been removed from the page as a way to contact.So email is a long drawn out process.Now they have blocked my payments account because there is a similar business in another state...very funny.I have a business lic,business bank account,website with MY business name .So why a flag.Not to mention I am listed on numerous other websites as well.And this has been going on for over a week and has yet to be straightened out.

Pros: Overall the program itself is a very good platform.BUT with the current customer service the cons out weigh the pros.

Cons: Very SLOW customer service.NO contact number email support only.

Response from Wave Accounting Inc.


Thanks for sharing your experience with WaveApps. We're sorry to hear it has been less than ideal. When you have a moment, if you could please email me jdaly@waveapps.com - I'd like to get some information from you for us to look into your account. Furthermore, to see if there is anything we can do (i.e. refund your premium services fees).

Hopefully our team has sorted out the risk flag. If not resolved, we'd like to investigate and provide an answer and/or resolution.

Note, as part of transitioning customers onto our new payments service we need to make all the same necessary precautions like any other financial stakeholder to exhaust potential fraud and risk. Therefore, the first payment transaction (as advertised) takes up to 10 business days to complete. Thereafter, we do our best to commit to 2-3 business days for all subsequent payment transactions. We do this not only to protect our business, but for the protection of online payments industry as a whole. Every payments processor plays a role in maintaining a fraud free platform for our customers using Wave or competitor products.

Look forward to hearing from you to see what we can do.

Jennifer from Wave

Serious Accounting Replacement for Quickbooks?

Verified Reviewer  20th of March, 2015 01:10

Jay Wasack, President/CEO AlwaysConnected Solutions
What business doesn't write checks? Printing checks is not an option with Wave.

Pros: Low cost nice interfaces. Stripe integration

Cons: No check printing. No automatic migration from Quickbooks.

Response from Wave Accounting Inc.


Hi,

I'm sorry that Wave wasn't the right fit for you. We take our customer feedback seriously, and leverage this feedback when determining what features we'll build next.

Based on customer requests for different features, as well as some other factors, check printing isn't currently something that's been prioritized, and as such it's not currently available with Wave.

-Sara from Wave

Articles

10 Sep 2015
Making a sale is generally considered the difficult part, but if you haven’t got your bills and invoices in order then that sale can only get you so far. An oft-neglected operational area, you can quickly get into a tangled web of complexity and soon fi
28 Aug 2013
Small business accounting is not for the faint of heart. The challenges of understanding various tax codes, collecting on overdue invoices, and staying up-to-date on payroll can give even the savviest business owner reason to think twice about managing
17 Jan 2012
Wave Accounting, a free online accounting software to help small businesses manage their finances, has made a request of its users:  throw away your shoebox.  What they are talking about is that small businesses and consultants, such as myself, often ke

FAQs for Wave

Below are some frequently asked questions for Wave .

Q. What are the main features of Wave ?

Wave offers the following features:

  • Real accounting, for non-accountants
  • Billing and Invoicing
  • Real double entry accounting
  • Investment tracking
  • Financial reporting (Ledger, A/R, A/P, Income, Balance She
  • Accept all major credit cards
  • Credit Card payment processing in America and Canada
  • Bank integrations to eliminate manual entry
  • Multi-currency
  • Professional reports
  • Seamless invoicing & payroll
  • Personal finance tracking
  • Fully integrated single login solution
  • Personal budgeting tools
  • Profit and Loss

Q. How much does Wave cost?

We have the following pricing information for Wave :

Starting from: $0.00/month
Pricing model: Freemium

Q. Who are the typical users of Wave ?

Wave has the following typical customers:

Freelancers, Non Profits, Public Administrations, Small Business

Q. What languages does Wave support?

Wave supports the following languages:

English

Q. What type of pricing plans does Wave offer?

Wave has the following pricing plans:

Freemium

Q. Does Wave support mobile devices?

Wave supports the following devices:

Android, iPhone-iPad

Q. Does Wave offer an API?

No, Wave does not have an API available.

Q. What other apps does Wave integrate with?

Wave integrates with the following applications:

PayPal

Q. What level of support does Wave offer?

Wave offers the following support options:

FAQs, Forum, Knowledge Base, Online Support, Video Tutorials

Top comparisons

GetApp users often compare Wave to these alternatives:

  1. Wave vs QuickBooks
  2. FreshBooks vs Wave
  3. Xero vs Wave
  4. Wave vs Mint
  5. Wave vs QuickBooks Online


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