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.
Ease of use
Value for money
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
Ease of use
Value for money
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
Ease of use
Value for money
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
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.
Ease of use
Value for money
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
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.
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 email@example.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
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.
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 firstname.lastname@example.org - 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
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.
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
Cathy Fanning, IT Consultant
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.
Danetha Doe, Product Launch Strategist/Accountant/Blogger/Speaker/Professional Giggler
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
Will Lopez, Innovator, Pioneer in Online Accounting Firms
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.
Anthony Tropeano, CPA, Certified Public Accountant at TropezCPA
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
James Krener, Owner of Krener Bookkeeping & Tax
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
Bill Savage, Consulting
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.
Thanks for being such a loyal customer, using Wave for over 4 years would make you one of our earliest product adopters. The good news is we have significantly improved many aspects of the product over the years - while still maintaining our account service free of charge.
If you're still using Wave, and are challenged by inefficiencies - please reach out to us (email@example.com) - we'll have someone look into what we can do to help.
Please note that we offer Premium Support services for users getting started with WaveApps.com. For a one time payment of $49, this entitled users to 3 months of unlimited chat/phone support between 9AM-5PM EDT, Monday through Friday.
We typically suggest users who are importing and organizing a hefty load of transactions to reconcile prior months of bookkeeping to work with a product specialist. Our team of specialists can advise on what is required for the purposes of reconciliation, and leveraging bulk categorization and deletions to ensure this is easier and more efficient.
Jennifer from Wave
Have been using Wave for over a year now and I will never go back.
Cons: Lacks Square integration
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
Cash vs Accrual
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
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
Almost a fan
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.
West Coast Measuring
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?)
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
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.
No bank integration to CIBC
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
Please note this issue has been resolved. Wave supports customers using CIBC banking.
Jennifer from Wave
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.
Puddle Town Woodworking.com
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,.
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!
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
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.
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.
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 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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