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Wave Accounting

Accounting, invoicing, and payroll management platform

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Wave Accounting Reviews

User ratings

Overall rating

4.4

/5

1.2K
89%
positive reviews
  • Value for money
  • Ease of use
  • Features
  • Customer support
  • Likelihood to recommend8.79/10

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Pros and cons

Pros

Cons

It's a great software and works well for my basic use case as a solopreneur. The payments feature is also nice and the reporting is great.

AR

Anonymous Reviewer

I thought it was going to be great when I saw that it functioned with Etsy. And I loved that it is free.

SK

Sarzh K.

This is a user friendly software that I have been using for years. It makes my invoicing very easy and has been great in tracking my finances.

PJ

Paul J.

I am not able to write off a partly paid bill as bad debt if all attempts to reclaim the payment from my clients fail. Sometimes, people pay about 70% and fail to pay for the rest.
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James K.

It can be glitchy at times. I had problems with my transactions imported from my connected bank account, and then when I tried to remove the account and re-connect it, I received error messages.
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Jessica H.

Then, January of 2021, Paypal import was abandoned. Without those 2 features, the software is essentially useless since it creates extra work each month.
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Jesus P.

Wave Accounting users...

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1,205 reviews

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Dave B.

Vice chair

Education Management, 11-50 employees

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Overall Rating

Sole trader joy

Reviewed 2 years ago

Transcript

Dave B: I'm Dave, I'm a freelance sound engineer, and I give Wave Accounting a five out of five. Before...

Overall Rating

If you're a small company just starting out this is the tool for you!

Reviewed a year ago

Transcript

Jose L.: Hey, I'm Jose. I'm the owner of a management consultancy for small businesses. I use Wave Accounting...

Overall Rating
  • Value for money
  • Ease of use
  • Features
  • Customer support
  • Likelihood to recommend9/10

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Best accounting software to grow as a small business

Reviewed 6 days ago

The overall experience with Wave has been very good. With some hiccups on the roadmap, Wave has evolved by leaps and bounds from a pretty basic software to quite a powerhouse, even for the free version. If my business grows and I will feel the need to add more features such as payroll and tax advisor use, I will still remain a Wave believer!

Pros

I've used Wave since 2009!!! I feel like my company grew with it. It's helped me understand all I was doing right (and wrong!) financially in my business. It helps tremendously when filing monthly sales taxes. I keep a habit of staying organized, verifying all transactions and reconciling with my bank accounts. All of this, plus categorizing everything the right way makes tax time an absolute breeze - my taxes are done in two days and I don't need to freak out about it because everything is organized ahead of time and all I do is input expenses and sales.

Cons

What I least like about Wave is that a few years ago they stopped support for free accounts. Absolutely no human support whatsoever. Disagree with that big time!!! Sometimes also a bank connection will be interrupted and you cannot reconnect for many many months and since there is no support, you are left without any help. I am a small business of one person and I do not need any of the paid features that Wave offers so I could be upgraded to paid support, so I am always stuck in no human support land. It doesn't feel good, especially to someone who has used this software for as long as I have.

Overall Rating
  • Value for money
  • Ease of use
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Wave Accounting

Reviewed 2 months ago

I was able to quickly send professional estimates and invoices on go and I didn't have to keep a lot of envelopes with receipts any more, I could just scan receipts and attach them to a bank transaction. Before I even get an accountant, I would easily see the performance of the business from the cash flow graphs and profit and loss graphs.

Pros

Setting reminders to be sent to clients for payment is the most important feature from wave in my opinion. Also being able to create recurring invoices you you don't have to do the same thing every week or every month. My other favorite is customer statements. Pulling out customer statements and sending to your clients gives you points in terms of professionalism. I also appreciate that when Wave stopped operating in South Africa they recommended Zoho and gave us a year of free use of Zoho. Even though I did not like changing, this was a very thoughtful move by wave.

Cons

For some reason wave starting giving limited access to its South African customers and partnered with Zoho for customers to migrate. Even though the apps are similar, they're not the same and it took a little bit of time to now learn Zoho a new app.

Overall Rating
  • Value for money
  • Ease of use
  • Features
  • Customer support

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Pathetic Customer Service and Return Policies

Reviewed a month ago

Very poor customer service. Never available. Only send you to "articles" to read when you DO get the opportunity to speak to someone live. If you are disappointed in the paid-for service, they do not issue a refund.

Pros

Nothing. Absolutely nothing at all. We are fully disappointed.

Cons

New users require support to appropriately navigate the software. However, the "support" is chatbot only most of the time. When you "do" get to "chat", again only online, no actual phone to call, you are repeatedly directed to "articles" to read. I don't know about you, but I am very busy running my business, and certainly do not have time to be directed to article after article to read what they can...

Overall Rating
  • Value for money
  • Ease of use
  • Features
  • Customer support
  • Likelihood to recommend10/10

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Wave is a WONDERFUL!

Reviewed a month ago
Pros

Wave is easy to setup, navigate, use and the features are incredibly robust! A a non-profit founder, I was looking for a cost-effective solution that would allow me to create a general ledger, track and categorize spending, create estimates and invoices, track AP/AR, and easily build financial reports. Wave does ALL of this, and it's FREE. I can't believe how good it is!

Cons

I literally haven't a single dislike about this software. Truly.

Overall Rating
  • Value for money
  • Ease of use
  • Features
  • Customer support
  • Likelihood to recommend10/10

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I love what it does, wish it could do more!

Reviewed 15 days ago

I love the feeling of it, it is very comparable to QuickBooks online and other more expensive type of user oriented software. I just wish the chart of account and the check printing were more flexible.

Pros

This software is a game-changer for free or low cost needs. It can 100% cover the needs of a non profit organization, or in my case our home owner's association needs. It is very easy to create accounts, or modify the already existing ones, and it is very easy to send invoices out. Also, it offers electronic payments which is very convenient for those who wish to pay electronically.

Cons

The software does not allow for check printing through it. All expenses need to be recorded and checks to be entered manually. This causes a feeling of "double entering" or doing twice a process that could have been simplified. The fact that the software will not be able to make payments is a little outdated.

Overall Rating
  • Value for money
  • Ease of use
  • Features
  • Customer support
  • Likelihood to recommend10/10

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Completely outstanding and marvelous accounting tool.

Reviewed a month ago

It's allows me to organize my books of accounts neatly. Payrolls processing.

Pros

It's simple to manage income and expenses using Wave Accounting. Enables ease to create and send professional invoices. This tool accepts credit cards and bank payments method.

Cons

It's tool is simple to use and understand hence I lack anything to complain.

Overall Rating
  • Value for money
  • Ease of use
  • Features
  • Customer support
  • Likelihood to recommend10/10

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Love Love Love

Reviewed 8 days ago

LOVE it

Pros

It's FREE, very similar to QuickBooks without the huge financial commitment

Cons

As of now, the capacity I use it I have nothing negative to say

Overall Rating
  • Value for money
  • Ease of use
  • Features
  • Customer support
  • Likelihood to recommend10/10

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Astounding and awe-inspiring tool for online accounting.

Reviewed a month ago

It's convenient with billing and invoicing process. Allows ease to create,send and manage invoices.

Pros

With Wave Accounting,it's simple to carry out all accounting and bookkeeping process effectively.It's reliable tool for payment processing.

Cons

It's affordable and easy to use accounting tool thus nothing to dislike.

Overall Rating
  • Value for money
  • Ease of use
  • Features
  • Customer support
  • Likelihood to recommend10/10

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Spectacular and extraordinary tool for online accounting.

Reviewed a month ago

It's more convenient with billing and invoicing.

Pros

Managing expenses with this tool is simple.Again,I like ease to manage cash flows transactions.

Cons

There is nothing unpleasant with Wave Accounting as it does what it's supposed to do.

Overall Rating
  • Value for money
  • Ease of use
  • Features
  • Customer support
  • Likelihood to recommend7/10

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Great option for beginners or minimal accounting

Reviewed a month ago
Pros

I really loved using this accounting software. As a personal accounting software or if you do t have a whole lot going on in your business then it’s great! It definitely helped me get started and it is free.

Cons

Sometimes it would import transactions twice so I had to be careful and double check that I wasn’t counting an expense or a income twice. But that’s why you should reconcile each month.

Overall Rating
  • Value for money
  • Ease of use
  • Features
  • Customer support
  • Likelihood to recommend10/10

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Excellent for freelancers and small businesses

Reviewed 8 months ago

Extremely positive. In 3+ years I don't think I've had to contact support once, nor have I ever considered switching to other tools. It is one of the few software tools I use regularly where I am happy to open it, and I'm happy to give them their percentage. As a freelancer, Wave has been indispensable to me. Always simple and smooth, and exceptional bang for the buck. Not only would I recommend Wave to freelancers and small businesses, I have recommended it. Numerous times.

Pros

Wave is ideal for freelancers. Set up is really simple and the interface is user-friendly. I have zero background in financial matters, and with Wave that's totally fine. The price is also right. There's no subscription or hidden fees, they just take a perfectly reasonable percentage from invoice payments. I asked a financial advisor friend of mine before signing up, and she was pleasantly surprised...

Cons

There are no major cons that I can think of. One issue I have is mostly my fault: When I first started using Wave I didn't know what I was doing, and I ended up creating a whole bunch of client and work type records unnecessarily. It would be nice if there were some more in-your-face tutorials, maybe some hover tips for new users. But the messiness is mainly from me leaping in before looking.

Overall Rating
  • Value for money
  • Ease of use
  • Features
  • Customer support
  • Likelihood to recommend10/10

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Very powerful free features with the option to purchase high-quality premium services!

Reviewed 9 months ago

I am very impressed with Wave Accounting. Their free products aren't skimpy or limiting, but are actually very full and would likely not be free from another service provider! Wave's premium offerings are extensive as well. Overall, I've found that Wave Accounting is perfect for a wide target audience including small businesses, sole proprietors, independent contractors and freelancers, or people looking to take their invoicing, accounting, payment collecting, etc. to anything beyond their basic capacity and limitations. Highly recommend to a broad audience needing such services.

Pros

Wave Apps software features not only very beautiful interfaces for their products' dashboard, but the platform is at once very feature-heavy and thoughtfully well designed. The aesthetically-pleasing graphics for content such as cash flow, profit and loss, and expense breakdowns on the primary dashboard are sharp and clean in addition to being so helpfully data-driven, and all that is just on the landing...

Cons

So many elements within Wave are intuitively navigable and to use with simple data entry. One area that was a little more challenging for me to set up with the chart of accounts section in the accounting area of the interface. It's so nice that it's deeply customizable, but the challenge was that it took me a little extra time to understand and knowledgeably input the data of my assets, liabilities/credits,...

Overall Rating
  • Value for money
  • Ease of use
  • Features
  • Customer support
  • Likelihood to recommend10/10

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Awesome free accounting online software for your business that is super professional!

Reviewed 9 months ago

There is very little more I can ask for with Wave for my small business. It is free for the features I need and allows me to take only ACH or credit card payments with a reasonable fee and I only pay the fixed percentage when I use those features so I can just turn it off and get a check from a client and not pay anything. Great Flexibility!

Pros

Its free for small businesses that just need a good business accounting software! You can take ACH and CC payments if you want and turn them off on invoices you don't want it on. The rates are reasonable enough for using these services. The reports are easy enough for doing taxes. It's awesome and cheap for those that are one man shows or freelancers.

Cons

The thing that is the most annoying is when you want to do a recurring billing. It doesn't use something like Maintenance contract #1 then go to #2 or something like that it makes recurring billing invoice names that were the most recent of any invoices. Maybe I am not using it correctly, but each time I have to go and change invoice names then manually send it to the client.

Overall Rating
  • Value for money
  • Ease of use
  • Features
  • Customer support
  • Likelihood to recommend10/10

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I LOVE Wave!

Reviewed a year ago

Overall, I highly recommend Wave if you are running a business and want low costs and an easy way to manage your finances. My business is simple and Wave makes it so much easier for me to stay on top of things and know where I need to focus my energy.

Pros

I have been using Wave since around 2015 and my books were a mess when I first began because I was doing them (not my strength) and once I heard about Wave's bookkeeping services, I couldn't believe how affordable they were. It's super easy to set up and use, run reports and know about your financials. I tried switching to QB for about 1 month and hated it, so I switched back. Lesson learned and I'm sticking around!

Cons

One thing I had to get used to was because I had my bank account connected and until the month is reconciled, when a invoice is paid I mark it paid and then the 'payment' comes in again from banking. It was easy to catch and now my Wave bookkeeper keeps all that reconciled. Thank you!

Overall Rating
  • Value for money
  • Ease of use
  • Features
  • Customer support
  • Likelihood to recommend10/10

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Wave Accounting is great for a Startup Business

Reviewed a year ago

I was very happy with the invoicing, payments, and the Design and functionality. I was able to search past transactions very easily. I did not pay for premium support, but the support that I recieve is excellent.

Pros

It was free to use the accounting services I was able to invoice customers using Stripe as a Payment Gateway which was great value The Design and User Interface is very professional compared to others that I have seen The Payment Gateway was also very professional when sent to customers, it added to the credibility of the business

Cons

My particular Bank would not allow me to sync my account with Wave, but that was a local issue not a general issue. I was very very happy with the invoicing. but I always felt that the ledger views were not as robust.

Overall Rating
  • Value for money
  • Ease of use
  • Features
  • Customer support
  • Likelihood to recommend10/10

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Good accounting software

Reviewed a year ago

The speed with which the credit cards were processed automatically saved me a lot of time.

Pros

This is a very complete software that allows you to build quotes and convert them into invoices in a fraction of a second without much effort. Wave is excellent especially when it comes to credit card processing which is done automatically with a very low 1% fee. It is very easy to set up and use and the cost is low or even free. Personally, I recommend buying this package because it comes with support: from setting up your account to the specific categories for your company . The other advantage of Wave is the presence of a number of applications to send invoices when you are away from your workplace. So even when you're away from home you can download them. In this case, all you have to do is take the photo on the spot.

Cons

The problem on the Wave software is not so numerous, but we notice that it is impossible to close a period correctly. All members who are able to make transactions have the possibility to change or add entries from the previous year. For me an administrator must have the ability to close a period so that no changes are made. User growth is also very limited. The lack of audit trails for transaction...

Overall Rating
  • Value for money
  • Ease of use
  • Features
  • Customer support
  • Likelihood to recommend8/10

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Wave Was/Is My Go To From QB Online

Reviewed 2 years ago

My overall experience has been great! I have to do some thinking/remembering at tax time to separate the double entries of income. I show an invoice paid by check WAVE shows that income on my account. I go to the bank and deposit, there is that check again. For the total amount of money saved, around $450-500, I will put up with it.

Pros

It is FREE in the cloud, works on ALL platforms Windows 7,10, Android, iphones. Accepts all credit cards including Amex for 2.9% I am saving $420+ yearly by not having QB, I don't have to print invoices. Since WAVE is in the cloud I email my invoices and receipts.

Cons

I wish it had more storage of customer service that has been performed in the past but I suspect that would require some expense. It only had 3 invoice templates and there wasn't much customization on those. You can't compound taxes on your invoices, let me rephrase, you can compound 1 tax but no more. Since my only taxes are State and County I found it best to compound none for fear of forgetting which one I had compounded

Overall Rating
  • Value for money
  • Ease of use
  • Features
  • Customer support
  • Likelihood to recommend10/10

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LOVE LOVE LOVE

Reviewed 2 years ago

Wave no longer integrates with CapitalOne Spark Business Checking & Savings. CapitalOne is going through some changes so I don't blame Wave too much but manually uploading bank statements every month is a hassle. Though I love Spark, I'm hopefully that Wave's banking that is coming soon will be a good future solution. I love Wave for everything else. It's the most rounded and affordable solution for my small business finances.

Pros

It's everything I need in one place. As a small business, Wave is the best solution for me. I can invoice my clients for free, and easily keep my finances up-to-date making tax season worry free.

Cons

Wave no longer integrates with CapitalOne Spark Business accounts, so I have to manually upload two bank statements every month into Wave; One for my checking and one for my savings account, both of which are Spark.

Overall Rating
  • Value for money
  • Ease of use
  • Features
  • Customer support
  • Likelihood to recommend10/10

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Excellent for the start-up to small company!

Reviewed 2 years ago

So far it has been a good experience overall. I haven’t had any issues. I haven’t had very much interaction with customer service other than the initial consultation Coach and the vetting process situation.

Pros

Love this product because of the cost! Free! So many great tools that it offers to include invoicing. You can create all of your own products and services and include your terms & Conditions. Clients can pay directly from the invoice. You can get paid the same day if you attach your business card to your account. It has a payroll feature as well for an additional charge. I love the fact that the reporting...

Cons

On the Invoicing I wish there was an option to add tipping. Our clients like to add a tips for our service and while Square offers this feature, Wave does not. There was a weird vetting process that nobody told me about and at first I thought it was a scam and I didn’t reply. But then I confirmed with the consultant I had been working with and they verified that this was in fact something that I had to go through. It seemed kind of sketchy at first, but it had validity with regards to the financial process.

Overall Rating
  • Value for money
  • Ease of use
  • Features
  • Customer support
  • Likelihood to recommend3/10

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Wave error messed up my entire system and they want to charge me $3000 to fix it

Reviewed 2 years ago

It was good while it lasted, before their system made my data unusable. They really tried to be helpful, I chatted with several friendly people online, all of whom were unable to resolve my issues. They were unable to refer me to a WaveApps specialist in my area. Ultimately their solution was to offer me one of their bookkeepers at a cost of $3000 to fix the problem they created. No thanks.

Pros

It was wonderfully easy to use, the invoices looked professional and payment processing features were handy.

Cons

TLDR: Major syncing, reconciling and support issues Two of my accounts synced twice (so I had four accounts in Wave where there should have been two) and they were unable to fix this. Their suggested fixes did not work. They have chat and email support but no phone support and even though they logged in as an admin they were unable to fix this problem. A recent update to their system caused my entire past four years of records to be unreconciled, and the only fix was to go back to the beginning of time and compare each transaction ever made. They offered me a bookkeeper to do this for me for $269/month for a minimum of 12 months, despite my being very diligent about keeping my account up to date for the past four years. I have switched to another system now.

Overall Rating
  • Value for money
  • Ease of use
  • Features
  • Customer support
  • Likelihood to recommend8/10

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Great Free Accounting Tool

Reviewed 2 years ago

We use it for multiple businesses and a non-profit as we are a small cluster of social enterprises that work hand in hand with each other. We are really enjoying working with this software and it has helped us tremedously, all while not costing us a penny!

Pros

On the positive side, this software's functionality is almost up to par with other options that cost a lot of money. Wave is free and for that price what they offer is unbeatable. It is a fully featured accouting software, as it is a web app, it means multiple people can use it simultaniously and it also works great for a virtual team. I like that it is made with non-accountants in mind. For example,...

Cons

On the downside, and this can be a big one, you are not able to properly close a period. This means anyone with permission to enter transactions can go and change entries from last year, or add some. This can make things really messy and I hope they add a function where an administrator can close a period such as a month, so that no more changes can be made. Further, you can add other users, but the...

Overall Rating
  • Value for money
  • Ease of use
  • Features
  • Customer support
  • Likelihood to recommend9/10

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Satisfied daily user since 2015

Reviewed 2 years ago

I'm a sole proprietor of a service-based clinic, and I sell a very small amount of retail product (less than $500 per year). I use Wave to generate customer invoices, track payments, organize expense receipts, calculate taxes payable, and run reports. The app does allow for a "Personal" account which I do not currently use to my advantage but I plan to incorporate that into daily use next year to help keep better track of my overall financial situation.

Pros

Wave is free to use which makes it excellent for my small business. It has an app to facilitate easy upload of receipts for my expenses. Being cloud-based enables me to access my accounting from my clinic or my home office (or on the go) with ease in real-time. It syncs with my RBC account to import my transactions and is very user-friendly. Customer service is friendly and responsive.

Cons

My complaints about this software are very minor. There is an option to "save and send" invoices by email with a single mouse click, but to print the invoices takes three clicks. My other complaint is that there is no simple Customer Statement to print. The Customer Statement that is available shows every transaction posted, so for most of my clients there will be three entries for each visit to my clinic; one invoice date, one copay payment, and one insurance payment applied. I would prefer to be able to generate this statement showing a list which includes ONLY the invoice date and total amount charged. They are very minor complaints. I am quite pleased with this product.

Overall Rating
  • Value for money
  • Ease of use
  • Features
  • Customer support
  • Likelihood to recommend10/10

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Wonderful accounting software for starting and growing a service business

Reviewed 2 years ago

I haven't gone through a tax season with my business yet, but I have been an independent consultant and I anticipate having everything tracked in Wave is going to help me out a lot come April. It's so easy to use and I can focus on my core business rather than spending a lot of time on admin.

Pros

Wave helps me do so much. I can issue invoices, track them (I.e. I can see when a client has viewed it!), and allow clients to make payments directly through the invoice. I can also customize my invoice, which is great. I could do all of this from day 1. I'm a solopreneur and launched my business this summer. I was able to issue professional invoices from day 1 and track my expenses using their receipts app. The other thing I love about Wave is that they are very interested in feedback from their customers. I've had a few interactions with them and it's always been really pleasant. It's also free which helps me out a lot. I do use the credit card payments, which has a fee like any other service would.

Cons

Their mobile app could use some work, and I've given them this feedback. The receipts app is great to take pictures really quickly, but I generally have to use the browser to do anything else.

Overall Rating
  • Value for money
  • Ease of use
  • Features
  • Customer support
  • Likelihood to recommend7/10

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A Solid Free Small Business Accounting Software

Reviewed 3 years ago

It’s been a solid piece of cloud accounting software, albeit limited. It’s hard to beat the price of it, and I have yet to find a similar but more fully featured one at the price of FREE!

Pros

I use Wave to keep track of my personal finances, from income to spending. In that lens, Wave performs quite well, allowing you to tag transactions that are automatically imported from your bank. It also lets you generate some simple reports such as your income statement, balance sheet, and cash flow. The interface is simple to use and understand, and I was able to pick it up (coming from an accounting...

Cons

Wave still appears to be in its infancy, although the product has been there for a while. The user interface will frequently be updated (the reconciliation flow changed 3 times since I signed up about 6 months ago), and new features will constantly be added without any notification, often shifting often things around from where you expect them to be. The reports from Wave are also very limited, so...

Overall Rating
  • Value for money
  • Ease of use
  • Features
  • Customer support
  • Likelihood to recommend10/10

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Exactly what I want in a small business accounting software

Reviewed 3 years ago

Very stress free. For a free app, you expect the quality to not be as high, but overall Wave has been very reliable. I didn't really want to pay $30+ a mo for Quickbooks when all I need is for my transactions to be categorized. Wave does this well, so glad it is free. I did use the chat once and had very good experience, although I think I saw they were disabling chat except for people that have paid for support or something, so that's a bummer. But I understand, they have to get paid somehow so I'm not complaining.

Pros

I love the simplicity. We are just a small business, so the primary purpose of using this app is to categorize all my expenses, so once tax time rolls around, I just have to send the tax lady a breakdown of my income and expenses. Once a week or so, I'll log in to check all the transactions it imported from my bank account. It auto categorizes most of them which is awesome, I just have to click the...

Cons

For some reason, they disabled the ability for deposits to be auto categorized. This is my most common type of bank transactions, since all credit card payments are deposited into my account a few days after they process, so I have tons of transactions I have to go manually mark as the 'Sales' category. I did talk to customer support over chat about this though, and the lady agreed this would be extremely useful so they are looking into this.