Wave Features List

Wave

All-in-one accounting, invoicing, payroll, payments & receipt management

4.26/5 (441 reviews)

Wave Feature Summary

  • Billing and Invoicing
  • Real double entry accounting
  • Investment tracking
  • Financial reporting (Ledger, A/R, A/P, Income, Balance Sheet
  • 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
  • Connect bank accounts and credit cards
  • Customizable sales taxes
  • 256-bit encryption
  • PCI Level-1 certified
  • Real double-entry accounting
  • Automatic reports
  • Profit and loss statement
  • Sales tax reports
  • Balance sheets
  • Collaboration tools
  • Receipt scanning
  • Built-in payroll
  • Expense tracking
  • Journal transactions
  • At-a-glance dashboards
  • Cash balances and invoice status
  • Automatic exchange rate calculations
  • Automatic data backup
  • Bill and invoice reminders

Finance & Accounting Feature Comparison

Most popular features of all Finance & Accounting apps

API (165 other apps)
Accounting Integration (104 other apps)
Accounting Management (99 other apps)
Activity Dashboard (108 other apps)
Auditing (80 other apps)
Automatic Notifications (100 other apps)
Automatic Reminders (76 other apps)
Billing & Invoicing (109 other apps)
Customizable Reporting (80 other apps)
Data Import/Export (87 other apps)
Electronic Payments (95 other apps)
Expense Tracking (105 other apps)
Invoice Management (154 other apps)
Invoice Processing (95 other apps)
Multi-Currency (91 other apps)
Real Time Data (88 other apps)
Receiving (86 other apps)
Recurring Billing (76 other apps)
Reporting & Statistics (99 other apps)
Third Party Integration (91 other apps)

Competitor Feature Comparison

Mobile apps

iOS App


494 reviews

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Requires iOS 8.0 or later. Compatible with iPhone, iPad, and iPod touch.

Android App


0 reviews

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Wave Feature Reviews

25 reviewers had the following to say about Wave's features:

Lauren Munar

Full-featured and FREE!

2018-05-10

An integration with Toggl and other timecard apps would be amazing!

Pros

Accept payments via ACH transfer, credit card, check or other manual payments.

Cons

I do wish I could more easily import hours/wages/project data into invoices so it was a less manual process.

Rating breakdown

Value for money
Ease of use
Features

Time used: 1-2 years

Frequency of use: Weekly

Likelihood to recommend

9/10
Source: Software Advice
Helpful?   Yes   No
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Will Lopez

Verified Reviewer

Do yourself a favor, ignore the bad feedback on here.

2014-10-07

Once again, I would know I'm a financial statement auditor for multi-billion dollar businesses.

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.

Source: GetApp
24 of 27 people found this review helpful
Helpful?   Yes   No
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Chris Sheehy

Verified Reviewer

AR Reports Non-Existent

2017-03-12

You are unable to perform an aggregate report showing payments received, invoice #, billed amount, the amount paid, type of payment (e.g. check or card), and check # if paid by check.

Pros

Easy to use, automatic credit card payments, non-payment reminders.

Cons

Unable to perform an aggregate report showing payments received, invoice #, billed amount, the amount paid, type of payment (e.g. check or card), and check # if paid by check.

Rating breakdown

Value for money
Ease of use
Features
Customer support

Time used: Less than 6 months

Frequency of use: Weekly

Likelihood to recommend

2/10

Recommendations to others considering Wave

If AR reconciliation is important to you, look elsewhere.

Source: GetApp
Helpful?   Yes   No
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Jacob Hill

A very small part of my job is invoicing subtenants, but it used to take up way too much of my time.

2017-08-15

I can automatically invoice my customers, accept credit card payments from them for these invoices and easily send receipts for all payment types.

Pros

Makes recurring invoicing and tracking payment of these invoices very easy.

Cons

I wish it had a wider feature set. I could use something to help manage our trust account.

Rating breakdown

Value for money
Ease of use
Features

Time used: Less than 6 months

Frequency of use: Monthly

Likelihood to recommend

10/10
Source: Capterra
Helpful?   Yes   No
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Nisarg Shah

Verified Reviewer

Best Accounting App

2015-12-01

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

Value for money
Ease of use
Customer support

Time used: Free Trial

Source: GetApp
3 of 3 people found this review helpful
Helpful?   Yes   No
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Kwok Man

Great accounting software for small business.

2018-03-20

Can also access through mobile App as well as desktop.

Pros

Lets you see real time your Income Statement, Balance, Invoices, transactions etc.

Cons

It is a little slow at times. And selecting dates can be a bit clunky. But this is just me being picky. Pros far outweigh these.

Rating breakdown

Value for money
Ease of use
Features
Customer support

Time used: 2+ years

Frequency of use: Daily

Likelihood to recommend

10/10
Source: Capterra
Helpful?   Yes   No
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Gillian Callison

Excellent product for tiny businesses

2018-02-07

It provides all my invoicing, expense tracking and tax reporting needed for my business.

Pros

I needed accounting software, but didn't want Quickbooks (overkill for my small business).

Cons

The bank payment transaction fees are lower, but it does take 5+ days from my client paying to my receiving the funds in my account.

Rating breakdown

Value for money
Ease of use
Features
Customer support

Time used: 2+ years

Frequency of use: Weekly

Likelihood to recommend

10/10
Source: Capterra
Helpful?   Yes   No
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Chris Damsgard

Excellent accounting tool for very small businesses

2018-02-14

Linking to the business checking account for automatic download of transactions and automatic receipt image processing reduces much of the data entry work for us.

Pros

Our small business has less than 100 transactions per year, and Wave is perfect for helping us manage invoices, transactions, and receipt images.

Cons

I wish the reports had default time periods like "last year".

Rating breakdown

Value for money
Ease of use
Features
Customer support

Time used: 2+ years

Frequency of use: Weekly

Likelihood to recommend

10/10
Source: Capterra
Helpful?   Yes   No
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Anonymous
A verified reviewer

Easy to use and helpful

2017-11-20

The invoicing and payment features automatically updates my books when I get paid, the bank connection means that I only have to reconcile my account to make sure everything is ok.

Pros

The software is in active development and since I started using it they have added great features such as Invoicing app, recurring payments, and bank payments and it keeps getting better.

Cons

There is no class/job tracking feature and while it looks like many users have requested it, it doesn't look like the developers are planning on implementing it anytime soon.

Rating breakdown

Value for money
Ease of use
Features
Customer support

Time used: 2+ years

Frequency of use: Daily

Likelihood to recommend

9/10
Source: Capterra
Helpful?   Yes   No
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Rachel Hoover

Wave makes accounting for small businesses painless!

2018-01-09

It works really well and is a free product if you don't need to utilize the payroll feature. I love that it's cloud based so I can access my business books from any location.

Pros

I love that I'm able to invoice and set up recurring invoices, that clients are able to store credit card information for automatic payments, that I can link to several different accounts, I'm able to run reports, see late invoices at a glance, and easily perform daily bookkeeping tasks.

Cons

It can be a bit finicky and I've had recurring invoices fail to process in the past.

Rating breakdown

Value for money
Ease of use
Features
Customer support

Time used: 2+ years

Frequency of use: Daily

Likelihood to recommend

10/10
Source: Software Advice
Helpful?   Yes   No
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Anonymous
A verified reviewer

Perfect light-weight accounting app for my business

2018-01-12

It made accounting, invoicing and recurring billing so much easier for me and saved me time.

Pros

Especially after they added the ability to set up recurring billing.

Cons

The one feature I needed in WaveApps was recurring billing which they added and now it fills all the needs I have with my small business.

Rating breakdown

Value for money
Ease of use
Features
Customer support

Time used: 2+ years

Frequency of use: Daily

Likelihood to recommend

10/10
Source: Capterra
Helpful?   Yes   No
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Oliver Reeve

Free Accounting application that saves me a lot of time

2011-11-22

Then when you come online it gives you a list of newly imported transactions.

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.

Source: GetApp
7 of 7 people found this review helpful
Helpful?   Yes   No
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Brett Middleton

Love Wave! Almost No Complaints

2018-03-23

Great small business or freelance invoicing/accounting platform

Pros

Quickly make templates and and can recurring invoices.

Cons

Credit card processing of invoices has a hefty 3% fee, adds up FAST if you process large invoices.

Rating breakdown

Value for money
Ease of use
Features

Time used: 1-2 years

Frequency of use: Weekly

Likelihood to recommend

9/10
Source: Software Advice
Helpful?   Yes   No
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Sarah Patterson

Great Web Based Accounting Solution for my Business

2018-03-06

I now have a very clean and easy to understand accounting and invoicing software.

Pros

I love that I can set up recurring invoices, different rates for services, payment reminders to clients, and email confirmations of payment.

Cons

When you go to create a new expense account, you can't just add a new one, you have to change the name of an existing option in their system.

Rating breakdown

Value for money
Ease of use
Features
Customer support

Time used: 6-12 months

Frequency of use: Daily

Likelihood to recommend

10/10
Source: Capterra
Helpful?   Yes   No
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Josh Andrews

I've been using Wave for about 4 years. It's a great free alternative to QuickBooks.

2018-07-04

Easy-to-use accounting software that saves a lot of time and makes accounting simple.

Pros

You can send invoices and recurring invoices to clients.

Cons

The transaction categorization could use some improvement. It would be nice if the platform recognized certain merchants after you used them before (i.e. HostGator would be categorized as "Hosting" instead of "Uncategorized"

Rating breakdown

Value for money
Ease of use
Features
Customer support

Time used: 2+ years

Frequency of use: Weekly

Likelihood to recommend

10/10
Source: Capterra
Helpful?   Yes   No
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Paul Crosby

Simple, Cloud-Based, and Integrates Well

2017-09-18

Simple, easy to use, consolidates many banking accounts into a single reporting system, good invoicing features and the mobile app for invoicing is pretty good.

Pros

Invoicing has improved greatly with the additional of bank transfers (fee is 1%) so you can kiss the 3 or 4% credit card fees goodbye.

Cons

A stronger mobile app for handling accounts payable or pulling an income statement or balance sheet reporting is missing so getting the latest sales figures on your mobile device while your boss is calling you in a panic can be a bit tricky.

Rating breakdown

Value for money
Ease of use
Features
Customer support

Time used: 2+ years

Frequency of use: Daily

Likelihood to recommend

8/10
Source: Capterra
Helpful?   Yes   No
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Mark Johnson

Very easy to use, can't believe it's free!

2017-05-15

Pros

Automatic payment reminders to customers.

Cons

Doesn't have "e-transfer" as a payment method.

Rating breakdown

Value for money
Ease of use
Features
Customer support

Time used: 2+ years

Frequency of use: Weekly

Source: Capterra
Helpful?   Yes   No
Read more
Anonymous
( company, 11-50 employees)

One of the easiest invoicing software for small businesses

2017-12-13

All of my invoicing goes through Wave.

Pros

It's also fantastic to track cashflow and expenses, has a lot of export features to excel.

Cons

Fortunately, it's easy to change.

Rating breakdown

Value for money
Ease of use
Features
Customer support

Time used: 2+ years

Frequency of use: Monthly

Likelihood to recommend

10/10
Source: Capterra
Helpful?   Yes   No
Read more
Anonymous
A verified reviewer

Fantastic accounting software

2018-01-20

We've saved money because Wave Apps doesn't require a monthly fee to use like Quickbooks online or other accounting software.

Pros

We can send invoices and accept credit card payments... and more recently they've added the feature to automatically schedule recurring invoices and payments.

Cons

The only downside is that there are less integration capabilities with Wave Apps as you might find with a more commonly used software like Quickbooks.

Rating breakdown

Value for money
Ease of use
Features
Customer support

Time used: 2+ years

Frequency of use: Weekly

Likelihood to recommend

10/10
Source: Capterra
Helpful?   Yes   No
Read more
Mary C.

Excellent app, by far the best all-in-one affordable solution

2013-08-01

Some invoicing features are missing you can find in invoice specific applications, though the integration with my accounting makes up for it.

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

Source: GetApp
10 of 12 people found this review helpful
Helpful?   Yes   No
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Anthony Tropeano

Best Cloud Based Accounting Software for Entrepreneurs!

2014-11-24

The invoicing feature allows the user to set up recurring billing, so that the user doesn't have to manually recreate invoices every month.

Rating breakdown

Ease of use
Customer support
Source: Capterra
Helpful?   Yes   No
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Belinda Strotheide

Simple Back Office Accounting

2017-10-10

With their affordable, cloud based solution they also offer a receipt app for adding images to the expense files.

Pros

You can create and send invoices as well as connect a business bank account to receive payment with Credit or Debit cards.

Cons

It would be helpful if there were more tutorials available, but because the program is easy to set up, it has not been a big problem to figure things out or find third-party tutorials online.

Rating breakdown

Value for money
Ease of use
Features
Customer support

Time used: 1-2 years

Frequency of use: Weekly

Likelihood to recommend

10/10
Source: Software Advice
Helpful?   Yes   No
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Rizwan Sanaullah

The best accounting app for all small businesses!

2018-02-15

It would be very helpful to have an auto bill number feature.

Pros

Not only it's jus free but it is designed beautifully and very user friendly.

Cons

It doesn't keep a count of it so you have to manually enter it. It's not a big inconvenience but sure would help a lot.

Rating breakdown

Value for money
Ease of use
Features
Customer support

Time used: Less than 6 months

Frequency of use: Weekly

Source: Capterra
Helpful?   Yes   No
Read more
Anonymous
CEO | Director | Head of School (Recreational Facilities and Services company, 11-50 employees)
Verified Reviewer

Wonderful Software But So Slow

2015-07-07

This software does a great job of invoicing and accepting payments. The big downside is the speed at which it moves.

Pros

Email Invoices, Simple to Learn, Clean Interface, Easy for customer to use, Has flexibility on how it can be used.

Cons

The time it takes to create an invoice or accept payment over the phone, another software could have done 3 invoices or more.

Rating breakdown

Value for money
Ease of use
Customer support

Time used: 1-2 years

Source: GetApp
3 of 3 people found this review helpful
Helpful?   Yes   No

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

Read more
Jason Mantell

Generally a really good app,

2018-03-21

Pros

Free, very easy to set-up & connect bank accounts/Stripe & personalise the default invoice. Very easy to navigate around.

Cons

The recurring invoice function should be available via the mobile app; this seems like a massive oversight to be left out!

Rating breakdown

Value for money
Ease of use
Features
Customer support

Time used: 2+ years

Frequency of use: Weekly

Likelihood to recommend

8/10
Source: Capterra
Helpful?   Yes   No
Read more