Wave Features List

Wave Reviews

Wave

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

4.26/5 (187 reviews)
12,219

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 (122 other apps)
Accounting Integration (33 other apps)
Activity Dashboard (34 other apps)
Automatic Notifications (33 other apps)
Bank Reconciliation (33 other apps)
Billing & Invoicing (53 other apps)
Data Import (52 other apps)
Electronic Payments (35 other apps)
Expense Tracking (51 other apps)
Forecasting (38 other apps)
General Ledger (34 other apps)
Invoice Management (66 other apps)
Invoice Processing (52 other apps)
Invoices (169 other apps)
Monitoring (59 other apps)
Multi-Currency (49 other apps)
Process Control (41 other apps)
Purchase Orders (45 other apps)
Real Time Data (39 other apps)
Recurring Billing (37 other apps)

Competitor Feature Comparison

Mobile apps

iOS App


279 reviews

See all iOS Apps

Requires iOS 7.1 or later. Compatible with iPhone, iPad, and iPod touch.

Android App


4,891 reviews

See all Android Apps

Wave Feature Reviews

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

Josh Zweig

Great for new businesses!

02/12/2014

From your accountant's point of view, you should be able to complete a stress-free year-end as all the important documents such as the trial balance, bank reconciliation and receivables report can be easily exported.

Rating breakdown

Ease of use
Customer support
Source: Capterra
Helpful?   Yes   No
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Vanessa Herle

Great Option for Small Business

20/04/2017

It allows you to sync up with your banking establishments and do things like payroll and bank reconciliations as well as basic reporting.

Pros

Cost efficient Simple to Use

Cons

Lack of Payroll Features Slow Loading at Times

Rating breakdown

Value for money
Ease of use
Features
Customer support

Time used: 2+ years

Frequency of use: Monthly

Likelihood to recommend

8/10
Source: Capterra
Helpful?   Yes   No
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Nisarg Shah

Verified Reviewer

Best Accounting App

01/12/2015

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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Blanche Coddington

Wave considerably optimizes accounting tasks

18/11/2011

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.

Pros

Free, clean interface

Cons

Invoice categorization is a little bit complicated

Source: GetApp
6 of 7 people found this review helpful
Helpful?   Yes   No
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Anthony Tropeano

Best Cloud Based Accounting Software for Entrepreneurs!

24/11/2014

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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Eve Aphayboun

Simple but Powerful

23/05/2017

Easily track invoices and manage customers.

Pros

As an early user, I was skeptical about trying them out but after sending out my first invoice, I haven't looked back.

Cons

There have been few updates since launch but the fact that they've managed to keep me on despite having a less than stellar UI should speak volumes.

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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Mary C.

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

01/08/2013

All in all, this is by far the best sort of all in one solution I've found for accounting, invoicing, receipts, and payroll.

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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Oliver  Reeve

Free Accounting application that saves me a lot of time

22/11/2011

Basically, Wave Accounting is a gratis web based application that accountants use to record transactions, to create invoices, and to their current financial position.

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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Marilyn Barker

Love it. Easy and does everything I need.

28/06/2017

Pros

Easy and provides alot of functions. Invoices, billing and taxes all in one place.

Cons

If anything may be enable to search invoices a little easier.

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 Sheehy

Verified Reviewer

AR Reports Non-Existent

12/03/2017

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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Tim Chrapko

Creating and tracking invoices for customers.

07/06/2017

I only needed a simple system for firing off invoices on the fly, and for tracking outstanding invoices.

Pros

Extremely simple interface. Fast/Responsive.

Cons

As with any web-based software, its availability can be affected by problems with your own internet connection, as well as larger infrastructure issues. During recent DNS attacks, and when Amazon's server products were down, I was unable to access Wave. This is not the fault of the developers, but is an inherent risk with web-based software.

Rating breakdown

Value for money
Ease of use
Features

Time used: 6-12 months

Frequency of use: Weekly

Likelihood to recommend

10/10
Source: Capterra
Helpful?   Yes   No
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Alan Straton

The easiest online accounting app I have ever used

17/05/2017

We collect money much faster and the automated reminders are a gem.

Pros

The most highly rated part of Wave for me is the ability to set up and manage recurring billing. Clients like the ease of use and no more arguing over whether a client received an invoice or not as I can see when they view invoices online.

Cons

Waiting for the connection to my bank is probably the most frustrating.

Rating breakdown

Value for money
Ease of use
Features
Customer support

Time used: 1-2 years

Frequency of use: Daily

Likelihood to recommend

10/10
Source: Capterra
Helpful?   Yes   No
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Mark Alway

Web-based with a clean UI

18/05/2017

Pros

Very clean UI. Email invoicing is great.

Cons

Some hiccups with things such as receipts -- if you return an item there's no real way to mark that return in the receipts section where the original purchase was marked. Multiple email addresses not supported in all places. Payroll doesn't do anything but the actual calculations -- doesn't actually file any paperwork or even fill it out for you to send in which would be nice.

Rating breakdown

Value for money
Ease of use
Features
Customer support

Time used: 6-12 months

Frequency of use: Weekly

Likelihood to recommend

7/10
Source: Software Advice
Helpful?   Yes   No
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Zubin Tehreani

Easy out of the box solution for small businesses

05/03/2016

Pros

The invoicing feature is really easy to use and great.

Cons

I had some issues with customer support and resolving and issue that really dragged out. It finally got resolved, but wasn't the best experience.

Rating breakdown

Ease of use
Features
Customer support

Time used: 6-12 months

Likelihood to recommend

9/10

Recommendations to others considering Wave

Really easy to use out of the box and gets the job done. It's also free making it almost a no brainer to start using.

Source: Software Advice
Helpful?   Yes   No
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John W.

Regretfully closed my account

07/02/2014

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

Source: GetApp
16 of 28 people found this review helpful
Helpful?   Yes   No
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Chirag Patel

Wave makes invoicing simple

03/02/2016

Pros

It is so easy to use and the invoices look so professional.

Cons

Wish it was easier to tag and organize transactions.

Rating breakdown

Ease of use
Features

Time used: 1-2 years

Likelihood to recommend

10/10

Recommendations to others considering Wave

Wave is one of the best online invoicing/accounting sw services I have used, I would highly recommend that people using other sw try it, especially if you use MS word or excel for invoicing and accounting.

Source: Software Advice
Helpful?   Yes   No
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Julian Kingman

Great for invoicing, and maybe for accounting?

08/03/2016

Pros

The best feature in Wave is definitely the invoicing. It's seamless, easy, and allows me to accept online payments.

Cons

I don't use most of the accounting features, so I can't really say whether they are good or not.

Rating breakdown

Ease of use
Features

Time used: 1-2 years

Likelihood to recommend

7/10

Recommendations to others considering Wave

Focus on ease-of-use. You're going to be using this software often.

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

Wonderful Software But So Slow

07/07/2015

This software does a great job of invoicing and accepting payments.

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

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Jared Erni

Great Starting Accounting Software

13/12/2016

It is the perfect, free accounting software to start a business with, giving easy invoicing features, syncs with bank accounts, and good reporting.

Rating breakdown

Value for money
Ease of use
Features
Customer support
Source: Capterra
Helpful?   Yes   No
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Shelle Pourmanafzadehardabili

Very Powerful for the price!

08/12/2016

The one bad thing is that it can run a little slow, but they have made improvements several times since I started (2 years ago) and are always working on improvements (new UI launching soon and they just gave a preview with a survey for feedback).

Pros

- Free version lets you do everything except maybe payroll - Sync with your banking - Great estimates, invoicing and online payments - Great reporting - Ability to transfer transactions between personal and business accounting

Cons

- It doesn't "remember" your account categories for sync'd transactions - A little slow - If you don't understand basic accounting, you might need to sign up for a paid version to get the level of support you may need (according to some of my clients I've recommended it to)

Rating breakdown

Value for money
Ease of use
Features
Customer support

Time used: 2+ years

Frequency of use: Weekly

Likelihood to recommend

10/10

Recommendations to others considering Wave

Give it a try - you have absolutely nothing to lose and incredible to gain!

Source: Capterra
Helpful?   Yes   No
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Chen (Hen) Levi

Verified Reviewer

For a free app it's great

28/12/2016

I have been using this app for almost a year and I am using it a daily use to issue invoices. All you need to do is make a little setup including your business details and products and tax settings and you are ready to go.

Pros

You can export each invoice to PDF

Cons

Too many clicks to get things done Not so easy to use with foreign money other than Dollars

Rating breakdown

Value for money
Ease of use
Features

Time used: 6-12 months

Frequency of use: Daily

Likelihood to recommend

8/10

Recommendations to others considering Wave

If you are a small business without a budget to spent on a program that will issue your invoices, this is a very recommended app to start with.

Source: GetApp
Helpful?   Yes   No
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Laura Spaeth

Hear for a free product

06/12/2016

This software had a bit of a learning curve. Not as intuitive as some software but worth it since it is free.

Pros

The receipt image feature is great.

Cons

The reconciliation feature is a bit awkward.

Rating breakdown

Value for money
Ease of use
Features
Customer support

Time used: 6-12 months

Frequency of use: Daily

Likelihood to recommend

8/10
Source: Capterra
Helpful?   Yes   No
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Anonymous
A verified reviewer
Verified Reviewer

BAD!!

20/01/2016

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

Value for money
Ease of use
Customer support

Time used: Less than 6 months

Source: GetApp
2 of 4 people found this review helpful
Helpful?   Yes   No
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Danetha Doe

Verified Reviewer

Wave is fabulous!

08/10/2014

I absolutely love the ease of use, simple design and fabulous customer service.

Pros

Free, easy to use, great customer service, supportive Pro Network for financial professionals

Cons

No cash basis options, limited reporting

Source: GetApp
17 of 19 people found this review helpful
Helpful?   Yes   No
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Jake Douglas

BASIC Bookkeeping

04/11/2016

Entering transactions is easy enough, but the interface is slow to switch between screens and reconciliation becomes more challenging when splitting transactions between multiple accounts as the software actually splits the transaction in half (so the total no longer matches your bank statement total).

Pros

The software is free and simple for small businesses.

Cons

I dislike the slow interface and limited functionality.

Rating breakdown

Value for money
Ease of use
Features
Customer support

Time used: 1-2 years

Frequency of use: Monthly

Likelihood to recommend

6/10
Source: Capterra
Helpful?   Yes   No
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