Wave Apps

Accounting by Wave


4.5 / 5
726 reviews

Who Uses This Software?

Our target market is small business owners (1-9 employees), freelancers and solo entrepreneurs. Wave has users in 200 countries around the world and our ecosystem is 2 million strong.


Average Ratings

726 Reviews

  • 4.5 / 5
    Overall

  • 4.5 / 5
    Ease of Use

  • 4 / 5
    Customer Service

Product Details

  • Starting Price
    Not provided by vendor
  • Free Version
    Yes
  • Deployment
    Cloud, SaaS, Web
  • Training
    Documentation
    Webinars
    Live Online
    In Person
  • Support
    Online
    Business Hours

Vendor Details

  • Wave Apps
  • www.waveapps.com/invoice/mobile/
  • United States

About Accounting by Wave

Wave offers 100% free, real double-entry accounting for small businesses. As a cloud-based software, Wave allows you to access your data from anywhere, add unlimited collaborators and work on all of your businesses from a single login. Wave eliminates data-entry and puts the financial reports you need at your fingers tips, allowing you to spend more time doing what you love. Your accounting is also seamlessly integrated with invoicing, receipt scanning, payment processing and payroll.


Accounting by Wave Features

  • Accounts Payable
  • Accounts Receivable
  • Bank Reconciliation
  • Billing & Invoicing
  • CPA Firms
  • Expense Tracking
  • Fixed Asset Management
  • Fund Accounting
  • Government
  • Nonprofits
  • Payroll Management
  • Project Accounting
  • Purchase Orders
  • Tax Management
  • Accounts Payable
  • Accounts Receivable
  • Bank Reconciliation
  • Billing & Invoicing
  • Bookkeeping Services Integration
  • Cash Management
  • Collections
  • Expense Tracking
  • Fixed Asset Management
  • General Ledger
  • Payroll Management
  • Revenue Recognition
  • Spend Management
  • Tax Management

Accounting by Wave Reviews Recently Reviewed!


Wave has amazing functionality for a free product, but it's not as good as it should be

Dec 14, 2018
4/5
Overall

4 / 5
Ease of Use

4 / 5
Features & Functionality

3 / 5
Customer Support

5 / 5
Value for Money
Likelihood to Recommend: 9.0/10 Not
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Pros: The software is FREE for everything other than PAYROLL and PAYMENT PROCESSING. If you don't use those components, there is absolutely no charge. For the most part, it is user-friendly and straightforward, and the quality of its printed invoices, customer statements and reports is top-notch. I really appreciate the ability to create recurring invoices (subscription billing) and view monthly income/expense bar charts for a 1- or 2-year period.

Cons: This is bookkeeping software that stresses simple data entry. However, it doesn't have features such as audit trails for transaction entries. With this program, it is possible to generate transactions, generate reports, and then reverse the transactions without any way of knowing that changes were made. Wave attempts to categorize your income and expenditures, but doesn't currently have the ability to remember your categorizations. But the thing I like least about this software is a BUG that causes the program to download bank transactions and incorrectly categorize them as duplicates of previously downloaded transactions if the transaction amounts match. This bug makes it difficult to find transactions when you are attempting to reconcile your transactions.

Overall: I have been using Accounting by Wave for nearly three years. It was a replacement for my Simply Accounting program. I am forever wondering how Wave can afford to make such a polished product available at no cost. Initially, there were ads, but now that they have a revenue stream from additional services, the ads have been removed. I have opted not to use their in-built payment processing feature, but I imagine it would be similar to Paypal in terms of the fees. Day-to-day operation of the program is smooth. They use a Zapier interface to my bank to update balances and download transactions. This interface is quite slow, although the speed has improved somewhat over the years. As bank transactions are imported, they are categorized into various income/expense categories. I find the categorization to be fairly unhelpful. Even after the user changes the categorization of transactions, Wave does not remember these settings. The next time data is downloaded, it will use the same, incorrect categories as the previous time. Wave is currently rolling out a new version of their software, which promises improvements to the AI (artificial intelligence) capabilities. I hope this means they will remember user-defined categorizations, but until my account is updated, I cannot speculate. There is one VERY ANNOYING bug in the program that I have described in the CONS section, since I've run out of space here.

Great alternative to Quickbooks for small biz users

Nov 03, 2018
4/5
Overall

5 / 5
Ease of Use

4 / 5
Features & Functionality

5 / 5
Value for Money
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Pros: Wave offers a lot of the basic accounting functions needed for small business users, and the best part is that it's FREE TO USE! Woo hoo! I used QuickBooks in my previous career, and liked the detail it provided, but once I started my own small e-commerce business, I didn't want to spend hundreds of dollars on software, or get locked into a recurring monthly subscription. I was thrilled to find Wave and amazed that it was FREE!

Cons: I wish there was a keyword search function in the Transactions section. Sometimes I need to look for a specific transaction but don't remember the exact date it occurred, so have to scroll through several pages to find what I'm seeking. A workaround is to export an Income Statement, then search or sort in Excel, but obviously that takes several extra steps and time. But since it's not costing me anything, this is a minor inconvenience.

Overall: I have two small e-commerce business, and needed a way to track my inventory purchases, sales, shipping expenses, etc. I also had two independent contractor businesses, needing to track expenses such as mileage, supplies, etc. With Wave, I have each venture as a separate company, I can customize the chart of accounts for each one, create invoices for my independent contractor gigs, track invoice status so I don't overlook if something doesn't get paid on time, and review my income and expenses each month. I sometimes do consignment sales for clients in my e-commerce business, and Wave helps me keep track of those sales and settle up with clients each month. Truly a lot of great features offered, and I don't even use all of them (like Banking & Payroll). So glad I found Wave, and I have recommended it to many others.

Accounting, with all the bells and whistles, no costs.

Mar 14, 2018
5/5
Overall

5 / 5
Ease of Use

5 / 5
Features & Functionality

5 / 5
Customer Support

5 / 5
Value for Money
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Comments: My business accounting needs are not big. My business is small and provides a limited number of offerings that are easily tracked with any application. So, when I was looking for an accounting solution to further simplify and automate some functions, I was surprised at the number of products and the wide range of prices out there. I stumbled across Wave by accident and decided to give it a try. Besides being free, the list of standard features was greater than all other products out there... from free competitive services to paid basic subscriptions. Wave is truly amazing and I have found it extremely helpful. I use it primarily to bill clients: I create invoices, submit them via email, receive payments online, and request receipts to be sent to clients after payment. Wave provides notifications and simplifies all of my accounting in one place. I would not use any other product.

Pros: Wave is free, and packed with features one would typically pay for in other premium products. Wave is the perfect accounting solution for small businesses. For starters, it offers all the essential features ANY business needs... plus more. Manage estimates, invoices, and statements with ease. It even supports recurring invoicing, manage payments, and build a massive library of products and services to choose from for your estimates and invoices. Wave even manages receipts, bills and vendors to track expenses. Like more control than just simple single entries? Wave supports traditional double-entry accounting as well, for increase control of your business accounting needs. Need to accept credit card payments? Wave has a built-in merchant account feature that let's you collect payments online through your invoices. Make email invoices, or attach them as PDF files. And when you get paid, Wave notifies you. Funds are transferred to your connected business account in a couple of days. Reporting? Wave has you covered. All essential reports are available at your fingertips: financial statements, taxes, customers, vendors, and other general reports. And if your business has employees, Wave can handle your payroll. But this feature is a premium... everything else is part of your free account.

Small business accounting, invoicing, credit card processing for minimal cost

Aug 12, 2018
5/5
Overall

5 / 5
Ease of Use

5 / 5
Features & Functionality

5 / 5
Customer Support

5 / 5
Value for Money
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Pros: As many other reviews have stated, there is no subscription cost for Wave, which is great. There have been a number of features added to Wave since I started to use it, such as recurring invoicing/credit card processing and direct bank payments. Wave's support is helpful, money is transferred quickly, and my invoices look great. I am providing a more detailed review than I did the first time, but I have "sung the praises" of Wave a few times. (Including on Twitter, and they promptly thanked me for it - they listen, which is great). Wave is Canadian, and they are based in Toronto, but that is only one reason I chose to work with their service. I have a couple of complaints about their service, but nothing serious enough which would cause me to switch services. The flexibility of PDF/web-based invoices is great, retains client details, and it just gets the job done for me as a freelancer.

Cons: On a few occasions, my invoices got picked up by my clients' spam filters, so I tend to use the PDF invoice option. Not a big issue, I've followed up on it. Also if I take payment through PayPal, I can get paid in US funds, but I have to invoice in Canadian funds only through Wave because my bank is in Canada (even if I have a US funds account). Oh well, again, no big deal. Apparently, there is auto-reconcile of transactions through AI functionality in Wave's future, which will address another pet peeve I have, but again no big deal.

Easy to use and helpful

Nov 19, 2017
5/5
Overall

5 / 5
Ease of Use

4 / 5
Features & Functionality

4 / 5
Customer Support

5 / 5
Value for Money
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Pros: This is great for the very new or very small business. It's easy to use and has all of the basic features that you will need for an unbeatable price.

It's very easy to use and the documentation and support have been very helpful. There is no phone option but live chat is available and I have never had to wait more than a day for an e-mail response.

It is truly free to use for accounting. You have the options of accepting credit card and bank payments for a very competitive rate. The only other cost is for payroll if you were to use that feature.

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: Limited reporting, you get all of the basics that you will need to measure your financial health, receivables, etc but there are no custom reports. While you can very easily reconcile your bank account, you can't print a reconciliation report.

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. So if your business needs this feature, this is not the right option for you.

Overall: Easy, almost fully automated bookkeeping. 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.

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Free accounting with added features and mobile tools

Nov 27, 2018
5/5
Overall

5 / 5
Ease of Use

4 / 5
Features & Functionality

3 / 5
Customer Support

5 / 5
Value for Money
Likelihood to Recommend: 9.0/10 Not
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Pros: Wave allows me to keep track of finances for multiple enterprises - self-employment business, a non-profit, and personal finances. Each account was set up using the Wave wizard and very few changes have been made to the overall function beyond that. The non-profit I manage has a series of account codes that were easily added and applied to transactions. I use multiple income streams for my business and they are all imported automatically. Wave charges for things like payroll administration, credit card processing and bank transfers - all at industry standard rates - and that's how they keep the base platform free.

The mobile expense app helps me keep track of receipts and does a really excellent job of deciphering receipts, even in multiple languages and currencies! The mobile invoice app is great for sending quick invoices or following up with clients on payment.

Also allows viewing and reporting for authorized agents who can't change any data - a needed feature for the separation of financial powers required with most non-profit setups. My accountant can take a peek too.

Cons: One feature that is present in most accounting systems is the ability to categorize an expense as a reimbursed expense and then assign it to an invoice - at cost or with a markup. With Wave, I needed to set up a separate "reimbursed expenses" account and then - via double entry - add the expense onto invoices with a "reimbursed expense" account code. If entered at cost, the balances zero out in the reporting. If there is a markup, the income category is "reimbursed expense", which isn't helpful for year-end accounting.

Overall: Really powerful accounting software with automated tools for transaction importing, electronic payment processing and mobile tools for expense entry and invoice creation. Excellent for the price, knowing the service fees for payments and payroll offset the "free" price tag is more than worth it compared to the competition.

Simple Online Invoicing - Accounting Tool

Oct 09, 2018
4/5
Overall

4 / 5
Ease of Use

4 / 5
Features & Functionality

4 / 5
Customer Support

5 / 5
Value for Money
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Comments: As a small freelance shop, we needed an invoicing program with accounting capabilities that was simple to learn and use as well as being flexible enough for multiple devices. We tried several other programs but they were either too expensive or too complicated, with many functions we didn't need, or were too hard to learn. It took very little time for us to learn and set up Wave Accounting for our office and start using the invoicing feature. We're quite pleased with the program.

Pros: We found Wave to be easy to learn and set up and it allowed us to connect to both bank and credit card accounts. Invoicing is easy and flexible allowing us to download a pdf and attach to an email for a client or to send directly from Wave. Our clients can print the invoice and mail us a check or pay online with a credit or debit card through Wave. Wave's fees are competitive for processing the funds. The funds are directly deposited into our connected bank account, usually within two business days. The invoicing features were our biggest need and the program allows us to send the invoice, send reminders, mark paid and send receipts. Setting up the chart of accounts was probably the most challenging, but there is a default chart which can be edited or added to and we easily found tutorials online. Their customer service was quite responsive to our questions. The reports function gave us what we needed for monthly, quarterly and year-end reporting. All in all, Wave was a great solution for our invoicing and accounting needs.

Cons: We needed some specific tax calculations but found there was no way to add a specific formula into the tax account. This requires manual entries for us. Because the program is a streamlined accounting version, which is what we really like, it does have some limitations.

Great Software for Small Business (Beta User)

Oct 08, 2016
4/5
Overall

4 / 5
Ease of Use

3 / 5
Features & Functionality

3 / 5
Customer Support

5 / 5
Value for Money
Likelihood to Recommend: 8.0/10 Not
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Pros: Cloud

Cons: Support

Overall: I started a business and wanted to avoid getting locked into the Quickbooks infrastructure like last time. Wave Accounting online was successful in helping me with that goal!

I found everything I needed for income and tax reporting as a small business. Wave Accounting made me look very professional with the ability to email invoices and collect payment using credit cards.

Issues I encountered included occasional sync problems with my checking account (similar to issues's I've had with MINT by Intuit). When I decided to change from Suntrust bank to a local credit union I went a couple of months without ability to sync my accounts. Customer support (by email) was friendly and adequate.

Some features like payroll are paid features. Processing credit cards will cost you a percentage of each transaction (4% it was at the time I used it). Some features like paying 1099 (contract) employees were very necessary for small business but still in development while I used the software (it works now).

I didn't personally find anything else fundamental missing but I'm not an accountant - I'm an IT guy who wanted to do my own books. Wave fit my needs exactly and will probably be enough for you. During the time I owned and operated my business I may have saved over $300/year and avoided the frustration of working with the crazy behemoth that is Quickbooks (however my credit card fees added up to about twice that). If I were starting over again today I would have to carefully reconsider and compare with Quickbooks Online. I would NEVER willfully choose to run their desktop products. Cloud based products with online support and integrated security features is the current way to go.

Recommendations to other buyers: Runs on anything because it runs in a browser!

Simple Back Office Accounting

Oct 10, 2017
5/5
Overall

5 / 5
Ease of Use

4 / 5
Features & Functionality

4 / 5
Customer Support

5 / 5
Value for Money
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Comments: Wave seems to be a company looking toward the future for small businesses. With their affordable, cloud based solution they also offer a receipt app for adding images to the expense files. There are many other integrations I expect to use in the future via the Wave Zapier connection. I have been using it for a year now and am just so pleased with how Wave works.

Pros: For small studios, new and busy entrepreneurs who trying to generate enough revenue to hire or outsource the accounting functions, Wave is like an answer to prayer. It is easy to open an account, it has all the accounting ledgers that the tax accountant needs, it connects to read-only of bank accounts and credit card accounts, and did I mention it is a free cloud-based solution. The user interface is easy to understand. You can create and send invoices as well as connect a business bank account to receive payment with Credit or Debit cards. The bank fees are the same as other payment processors at 3% currently. The invoicing function allows for automatically reminding clients when their invoice is getting close to being due and when it is overdue. Once the money is received it is a simple click or two to mark the invoice paid and tell it which account the money was received into. Like other complicated accounting software, Wave allows for setting up products, sales tax and customers. Unlike the complicated ones, it is easy to do. Running sales tax reports is a piece of cake. There are options for running employee payroll, too. All in all, because of the Wave accounting solution, I am no longer afraid of the books and can easily keep up with the administration of the financial side of my business.

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.

What an amazing product!!!

Aug 01, 2018
5/5
Overall

5 / 5
Ease of Use

5 / 5
Features & Functionality

4 / 5
Customer Support

5 / 5
Value for Money
Likelihood to Recommend: 10.0/10 Not
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Pros: This accounting package is a fully functional, forever free, product that has turned me, a nuffer when it comes to bookkeeping/accounting to someone who almost knows what they are doing. I have ALWAYS avoided the finance side of the non for profit with which I work as a volunteer, but circumstances forced me to get at least a working knowledge and Wave has made it so easy. The package comes complete with accounting, invoicing, billing, payment tracking, payroll management, finance management and receipts. It also does bank reconciliations and lots of different reports. All of this was far more than we needed.

I read some of their FAQs then launched myself. Made some mistakes as I set up customers but was able to fix it fairly easily.

Our invoices look so professional now and I can schedule them to send reminders.

It links to over 90 banking institutions (ours included- yay!) and that has made tracking payments and and creating reports SO easy. The transaction stuff is easy to modify, and deposits can be split and allocated to the correct chart of accounts if they were all paid in one payment.

The income and expenses for your budget are easy to set up (chart of accounts) and it has things I definitely have no idea about like equity and assets!

You can add guest contributors, and allocated them ac

There is an option to use credit card payments. That is the only cost. We have chosen not to use that yet, but I think we will, moving forward.

Cons: You can upload a .cvs file with all your customers, but it has to be SO exact that I could not succeed at all and inputted my customers manually. As there were only about 60 it was not too bad.

Support were good, but slow, and I had done the manual input before they replied.

Overall: Easy management of all financial needs for my not for profit; accounting, invoicing, billing, payment tracking, payroll management, finance management and receipts.

Great bookkeeping solution for online businesses

Apr 12, 2019
4/5
Overall

4 / 5
Ease of Use

4 / 5
Features & Functionality

5 / 5
Value for Money
Likelihood to Recommend: 8.0/10 Not
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Pros: Best overall value for online bookkeeping solution. Due to changes in recent years with other similar platforms as far as pricing structures, updates, and feature implementation, Wave accounting seems to have become best overall value for small businesses and startups in our opinion. Easily allows connection and synchronization with virtually all major financial institutions and saves tremendous amounts of bookkeeping time. It used to run very slow, had an unintuitive interface, and feel outdated. However, they have made many changes in the right direction in the past few years with a new interface, faster platform, and very competitive optional plans that include payroll service and payment processing.

Cons: The biggest downside is that everything is limited to income and expense. It would be nice to have the ability to generate balance sheets which is required for any corporate filings. I feel it cannot be considered a comprehensive accounting platform if limited to income and expenses only.

Overall: Very good value and great solution for small businesses and startup. Improvements over the years have shown forward looking development team which other providers often seem to lack.

Great Web Based Accounting Solution for my Business

Mar 06, 2018
4/5
Overall

4 / 5
Ease of Use

4 / 5
Features & Functionality

3 / 5
Customer Support

5 / 5
Value for Money
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Pros: I love that this is free and has the ability to do more complicated accounting that my business requires. It has a clean UI, the Receipts app works perfectly, and my client facing invoicing system looks professional. I love that I can set up recurring invoices, different rates for services, payment reminders to clients, and email confirmations of payment. The accounting side has the ability to create more detailed journal entries that my LLC / contractor based business has. And I can run very good reports for data that I need to monitor. And so far the entire software has every feature that I've needed.

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. It's a bit weird and annoying, but small price to pay for free and useful software. Also I don't actually have Wave synced with my bank account. I did that initially, then realized if I load a receipt, it was double booking my entries (1. the receipt I uplodaded and 2. the transaction from my bank account). Turns out this is common with accounting softwares and most people I talked to don't sync their bank accounts for this very reason. Again, small price to pay for a great software, and it's really super quick for me to enter my transactions as my way of reconciling my bank account.

Overall: I now have a very clean and easy to understand accounting and invoicing software. It's a quick learn and easy and fast to use so I can focus on my clients.

Simple, Cloud-Based, and Integrates Well

Sep 18, 2017
5/5
Overall

5 / 5
Ease of Use

4 / 5
Features & Functionality

4 / 5
Customer Support

5 / 5
Value for Money
Likelihood to Recommend: 8.0/10 Not
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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. This may not make a huge cost savings for those businesses with small ticket items but higher priced ticket items using the bank transfer option save a good chunk of change. Invoices are easy to generate and pay either via the desktop or mobile application. Our organization has multiple banking accounts and we use this tool to consolidate it all into one report. Reporting is solid and meets our basic needs for balance sheet, aged accounts receivable and income statement.

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. Extracting the raw data is a bit tricky by having to run transactional reports but overall this still works pretty well.

Overall: 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.

Capterra loader

Great for basics, not for the advanced

Dec 13, 2017
4/5
Overall

5 / 5
Ease of Use

3 / 5
Features & Functionality

4 / 5
Customer Support

5 / 5
Value for Money

Pros: I enter my bills, get reminders, and create all of my invoices with Wave. I even track my hourly time by creating estimates, then turning those estimates in to invoices once a month. Basic stuff, but very helpful. I used to use Quickbooks, but that was like a Porche when all I needed was an old Ford. I have no bookkeepping background, not an accountant, but I find Wave helpful and simple.

Cons: Only one contact per company is allowed, which is annoying. For instance when invoicing, most people want the invoice to go direct to their accounting dept. But if you work for someone other than that accounting person, in order to cc them with the invoice you need to manually enter their email address on each invoice. Every month. There is no function to easily track your time, and if you bill by the hour this can be a big deal. But there is a work around. In my case I invoice monthly on the 15th. So to start I will create an estimate with a date of the following month on the 15th. Enter my product, the description will look something like "11.30.17 Phone call with Steve", quantity is hours or decimals of hours (i.e. 0.5 = 30 minutes), and the price is my hourly rate. It works. Each task will have it's own line on the estimate, and when converted to an invoice the customer gets a detailed invoice with date, what I did, duration, etc.

Perfect for One-Person Businesses

Feb 09, 2019
4/5
Overall

3 / 5
Ease of Use

4 / 5
Features & Functionality

5 / 5
Customer Support

5 / 5
Value for Money
Likelihood to Recommend: 8.0/10 Not
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Pros: Wave has allowed me to send invoices, collect payments, and keep track of income/expenses all in one place. I am a one-person business and when I was first starting my business, I didn't have the need or money to hire a book keeper or accountant. My overhead was low and I only had a few clients each month. The free plan that Wave has helped me manage all of the important accounting stuff by myself without sucking a ton of time out of the week. I've used Wave for years as I've scaled up.

Cons: There was definitely a learning curve to get it set up and understand how it worked. The invoicing and payment setup I needed weren't complicated, but the capabilities of Wave overwhelmed me at first. It can do so much, and the hardest part was to understand the specific features I needed. I wish there were options during setup to view Wave in either a simple setup (i.e. basic accounting, invoicing, payments) or a comprehensive setup (using their accountants, payroll, receipt capture, bookkeepers, etc.)

Overall: Wave has and still is the best solution for me. I originally started using it because it was one of the only accounting/invoicing services that had a free plan. That was important for me because I run a debt-free business and didn't want to pay for a monthly service before I even had my first client. Wave's support is also some of the best I've experienced - they're thorough and take the time to go above and beyond to help explain the answer any question I've had.

Love this bookkeeping program (and it's free!)

May 10, 2018
4/5
Overall

5 / 5
Ease of Use

4 / 5
Features & Functionality

5 / 5
Customer Support

5 / 5
Value for Money
Likelihood to Recommend: 10.0/10 Not
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Comments: So far Wave is my favorite bookkeeping system for my home fashion design business, number one, because it's free and every dollar I save really counts, and two, I can use it on my ipad or my iphone anywhere and do business outside of my loft. I have yet to use the integrated Payroll as well but hoping to test that out very soon. I really appreciated the online live training sessions too. I thought that was helpful although the program is already easy to use.

Pros: It's FREE! I've been spending dollars per month with two other online bookkeeping programs and this free program does pretty much everything they do. It's simple, quick (fairly quick page load times) and offers all the reports I need. Customer support is great and they have 3 live training's every week. I'm impressed with how much they offer with virtually no costs. They also offer bank and debit/credit invoice payments right in the program with 1% and I think the usual 2.9% processing.

Cons: Sometimes pages take a while to load because it's an online program. Also, pages open up in new tabs which isn't even that bad to me, I just find myself gathering up 10+ tabs then having to close them all out. Reconciling can be tricky because it's not a conventional reconcile and I find myself going back and forth between pages looking for the mismatch culprits.

Everything You Need for Your Business Books

Apr 05, 2019
5/5
Overall

5 / 5
Ease of Use

5 / 5
Features & Functionality

5 / 5
Customer Support

5 / 5
Value for Money
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Pros: Very easy to use.

Great design and UI/UX

All basic features, required for keeping your books straight.

Fancy easy to use mobile app.

Fancy, modern invoice templates.

Invoice payment by Credit Cards (standard 2.9%) and bank transfers (at only 1%!).

Payroll.

No glitches or any technical issues after a few years of using it!

It is FREE and no Ads!

You can get support from IN-HOUSE! Wave bookkeepers or a consultation with a CPA (paid feature)

Cons: Connection with your bank might give you some duplicate entries (the system creates one entry when invoice gets paid online and pulls up the second one (duplicate) from your bank when funds get deposited). This is not a big problem, just something to watch for.

Overall: Very nice and reliable software. I would 100% recommend Wave for small to mid-size businesses. Maybe not the best match for large corporations though (lacking some accounting features).

It does what it is made for! It is FREE! It is great :-)

The free version is great for my needs

Jul 19, 2018
4/5
Overall

5 / 5
Ease of Use

4 / 5
Features & Functionality

4 / 5
Customer Support

5 / 5
Value for Money
Likelihood to Recommend: 8.0/10 Not
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Pros: I like the simple layout of the software. I also like the iPhone app that allows me to make and send invoices as soon as I finish a job. They've changed the way transactions show up when downloaded from your bank so now I can easily match them to invoices. The simple reports are perfect for my needs. The best part is that it's pretty easy to figure out how to use Wave on a basic level for sole proprietors who have a dozen or so clients.

Cons: Some people might not like the double entry system of accounting. Personally, I've chosen to ignore that feature and simply use the app like a simple transaction register. My accounts don't balance and I don't reconcile with my bank statements. I probably only have 20 or fewer transactions per month so I'm pretty aware of what's going on. If I had to make everything balance, I think the app might be harder to use.

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Accounting Without the Fees

Apr 12, 2019
5/5
Overall

5 / 5
Ease of Use

5 / 5
Features & Functionality

5 / 5
Value for Money
Likelihood to Recommend: 10.0/10 Not
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Extremely
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Pros: I've been using Wave long before their new long, Wave Apps update and so much more. What I love about the company and the software is that they continue to improve on and grow the free part of the offering. I use it for my business and my personal reselling business. For both accounts, I don't pay a single dime. They have paid options for Payroll, banking, personal accountants, etc. but I haven't needed to utilize them. I love that the options exist for those that want it.

I had previously used GoDaddy Bookeeping, and I'm so glad I don't have to go back. Wave Accounting allows me to sync my PayPal account in for free, and it automatically brings in new transactions as they occurr.

Cons: My only real gripe was that I couldn't sync my bank with them. This was my issue however as I used a local bank that had 5 branches in the country, so it made sense that they didn't have the integration. That bank has now been bought and my new bank syncs without issue!

Overall: Overall, it's my Go-To Accounting software for my business and personal reselling. My accountant loves the profit and loss statements, balance sheets, etc. when it comes tax time.

They need to be on your list if you're looking for a business or personal option.

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The best accounting software for startups and freelancers

Oct 12, 2018
4/5
Overall

5 / 5
Ease of Use

4 / 5
Features & Functionality

3 / 5
Customer Support

5 / 5
Value for Money
Likelihood to Recommend: 10.0/10 Not
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Extremely
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Pros: The experience with Wave has been awesome. When I first came accross this software I could not believe the fact that they were giving this away for free, everything except the payroll feature of this software was free. Invoicing, unlimited ledgers, journal entries, cashbook, p/l account, balance sheet and beautiful charts to report finances over a period. Being a the owner of a small company and a freelancer Wave has been a life saver against all the expensive accouting software out there.

Cons: To be honest there is nothing I would like to complain about but since I want to unbiased there is just one thing they could improve on and that is the time taken to save new transactions is a bit slow and the UI looks terrible on mobile. That is to say it is not mobile friendly, and they do not have a native application for mobile as well.

Overall: This is the only accounting software I use and have used over the years for my business so I could say it has solved a huge business problem for me, Acoounting.

Free accounting tools that work!

Sep 13, 2017
5/5
Overall

5 / 5
Ease of Use

4 / 5
Features & Functionality

4 / 5
Customer Support

5 / 5
Value for Money
Likelihood to Recommend: 10.0/10 Not
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Pros: I love Waveapps recurring billing features. Its easy to set up and easy to manage. Clients can save their credit card or pay by bank draft. I don't have to manage multiple payment setups, I just send an invoice from Waveapps and they pay how they want to. If the customer is in the store I can just process their card by typing in the details. Receipts to my clients and from my spending are just as simple. As well, I get a view on my company and personal finances anytime I need it. There is an app for receipts and for invoicing/payments.

Cons: I would love to be able to produce better reports to provide my accountant with for tax purposes. I would love an app that allowed me to log in to my full account from my phone.

Overall: Saved my from making bad decisions with money as a new business owner and it has simplified my billing process!

Wave is an outstanding accounting app

Jan 16, 2016
5/5
Overall

5 / 5
Ease of Use

5 / 5
Customer Support

Comments: After many years with Quicken, and some considerable frustration, we were looking to move to a new accounting app. I researched Mint and many others, then came across Wave, which was extremely well reviewed and had extremely high security ratings - a vital factor in accounting software.

Wave has been quite literally a breath of fresh air. Cloud based and with the capability not only of linking your bank accounts directly to the software (as strongly encrypted read-only data), one of the major attractions was that you could also choose to upload data from your bank as statements in csv file format, thus not directly linking your accounts at all.

With transactions automatically uploaded or synced, verifying them and adding your own categories or individual transaction notes is a breeze.

We've had a few questions about how to create new categories and how to split transactions (you create new categories in the Accounting tab, rather than the Transactions tab) and have emailed Wave Support regarding perhaps five or six issues. Each time we received a friendly, full and very clear step by step explanation of what we needed to do.

Wave offers a premium version with additional support, which I'm sure is excellent, but replies to our questions regarding the free version have always come within a day or so.

I have no complaints at all about the capabilities of Wave, and it makes bookkeeping very fast. The fact that it can be accessed from any computer is a big plus, and means that our accountant can examine any transaction easily, should he need to.

The app is very versatile and pleasing to use. We actually look forward to updating our accounts, which was certainly never the case with Quicken. Updating has been seamless, and adding manual entries is easy, too. I would highly recommend Wave. I'm astonished it's free. If it could become an iOS app as well, I would be over the moon - especially if it could incorporate fingerprint recognition security in the manner of SplashID, RobinHood and other vital iPhone apps.

Many thanks to the Wave developers and support team. It's an outstanding app and I wish it every success.

Great Alternative to Quickbooks!

Mar 20, 2019
5/5
Overall

5 / 5
Ease of Use

5 / 5
Features & Functionality

5 / 5
Customer Support

5 / 5
Value for Money
Likelihood to Recommend: 10.0/10 Not
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Pros: For a small business, this FREE software does everything we need for it to. We were in search of an alternative to Quickbooks and Wave certainly delivered. We need to create and track invoices and client payments and Wave certainly helped us organize our Accounting. This is also cloud-based so multiple users can log in or access this software anywhere they have an internet browser and internet connection. Our Finance Department is able to pull reports when they need in realtime without having to wait on our team to do anything.

The set up was very easy. I certainly don't have an accounting background and I was able to configure everything with ease.

We don't require the paid features for what we need to do so the fact that Wave is free was such a bonus.

Cons: I had a difficult time separating streams of revenue, initially. When I did try to add new accounts, Wave was a little bit "glitchy".

I suggest this to my startup business clients

Dec 01, 2015
4/5
Overall

5 / 5
Ease of Use

4 / 5
Customer Support

5 / 5
Value for Money

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

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

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

Very Powerful for the price!

Dec 08, 2016
4/5
Overall

4 / 5
Ease of Use

5 / 5
Features & Functionality

5 / 5
Customer Support

5 / 5
Value for Money
Likelihood to Recommend: 10.0/10 Not
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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)

Overall: Wave is a very powerful accounting program that syncs with your banking, giving you separate setups for your business and personal accounting with an ability to transfer transactions between. We all know we need to keep business and personal separate, but it happens at times - we throw in one business item in a cartful of personal ones!

Create estimates and turn them into invoices, allow online paying from your invoices - it is seriously a very powerful application. 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).

Recommendations to other buyers: Give it a try - you have absolutely nothing to lose and incredible to gain!

I use this software for invoicing and credit card option for my clients, and I love it.

Nov 14, 2017
5/5
Overall

5 / 5
Ease of Use

4 / 5
Features & Functionality

5 / 5
Customer Support

5 / 5
Value for Money
Likelihood to Recommend: 10.0/10 Not
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Pros: It's free (except for credit card usage and a few other things. It's professional, looks great and keeps things organized for me. I haven't used all the options, as I haven't needed to as yet, but I'm looking forward to using more of the tools available to me.

I can send invoices directly from the software or download a pdf and just attach it to an invoice. I can see if a client has opened and seen the invoice. It tells me what invoices are overdue, and I can send a reminder. I can customize the look with my logo, and my colour scheme. Once set up, it's so easy to use.

Cons: The receipt that you can send to your client to state that the invoice has been paid, is a bit cheesy. It has a PAID 'stamp' at the bottom, it kinda looks cheap, it could be classier.

Also, the 'services' sections, where you can put your services and the price, and select to place in the invoice is unalterable once used in an invoice. You can't remove it from the list, or else you will delete the invoice in question. My services list is soo long because of this and is annoying to find the correct one.

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Accounting by wave review

Dec 04, 2018
5/5
Overall

5 / 5
Ease of Use

4 / 5
Features & Functionality

4 / 5
Customer Support

5 / 5
Value for Money
Likelihood to Recommend: 10.0/10 Not
Likely
Extremely
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Pros: Accounting by wave made everything easy. No need to do data entry for reports and statement of accounts. It makes it easy for anyone like me who does not have an accounting background. I like how its integrated with wave receipts. I can scan a receipts even when am away from work and post it to accounts.

It is easy to send receipts and invoices to clients via email or even printing.

Cons: Since I started using this software I have never experienced any problem. It is easy to learn about its features.

Overall: Accounting by wave has made it easy when it comes to serving my clients and employees. It helps me keep records of all the incomes and the overdue in the company. I have recommended it to my friends who are new in businesses and they have liked it. It is free and reliable.

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It's free, which makes it great, but it's rather slow and not terribly intuitive

Oct 10, 2017
4/5
Overall

3 / 5
Ease of Use

3 / 5
Features & Functionality

5 / 5
Value for Money
Likelihood to Recommend: 7.0/10 Not
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Pros: My favorite thing about Wave is that it's free, plain and simple. For any organization that doesn't have complicated books, Wave is a great option that gives you all of the basics. Hooking up accounts is easy, even exporting your financials for an account is relatively easy.

I also love their new invoicing platform. It makes nice looking invoices, and so we exclusively make our invoices through them now. We don't have high volume, but I'm happy I don't have to use an external additional piece of software to do invoices.

Cons: The UI is clunky, often slow, and labeling transactions is a chore. On Mint.com labeling and adjusting all your various transactions is really quite straight forward, but on Wave I gave up on it quite awhile ago. To be honest, the biggest issue can be boiled down to not having one option: "Always categorize this option as xyz"

What makes Mint.com WAY less tedious is that if I see "Google Apps Svc" on my transactions, I can change that to Software Expenses and hit a button that says "Always Categorize transactions from them as Software Expenses" - boom, never have to do it again.

With Wave, every single time it miscategorizes the same thing, you have to go in and change it to the right thing again. This makes it such a pain, so I have to set aside time every few months to go in and change the categories.

Overall: I don't have crazy complicated accounting needs, so Wave is perfect due to the fact that it's free and works well enough. Diving into other accounting software would only be worth it if you have a lot more transactions and more complicated tax scenarios, but if you don't then save your money and use Wave.

Provides basic accounting with the best price (none!) and functions 95% of the time.

Nov 11, 2017
4/5
Overall

4 / 5
Ease of Use

4 / 5
Features & Functionality

3 / 5
Customer Support

5 / 5
Value for Money
Likelihood to Recommend: 8.0/10 Not
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Extremely
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Pros: The cost

The relative ease of use

Easy to understand reports

Helpful for end of year taxes and business financial review

It's great that it imports directly from my bank account so I don't miss accounting

Cons: Customer support is only via Email with the free version. While it imports most of the time, about once a month I have to wait a week before it integrates my bank transactions. Every now and then it duplicates entries and I have to watch for that. It also offers no directions on what accounting terms mean. I am a small business owner with no accounting experience - a little help in that department would be nice.

Overall: It's no cost and it helps me keep track of where my money is going, and provides reports for taxes at the end of the year.

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Life saver for small business owners

Dec 25, 2018
5/5
Overall

5 / 5
Ease of Use

5 / 5
Features & Functionality

4 / 5
Customer Support

5 / 5
Value for Money
Likelihood to Recommend: 9.0/10 Not
Likely
Extremely
Likely

Pros: This accounting software had double entry book keeping, abiliy to sync your bank, balance sheet, profit and loss statementsand everything you could possibly need to keep the accounts of your business and what do we need to pay for this? Nothing, its free. It was awestruck to find this thing of beauty, feature for which I paid on other softwares for free, no strings attached. They only charge you for payroll maintenance. Oh and you can keep a track of your personal expenses here as well. There is a separate dedicated section for that as well.

Cons: Its kind of slow and it shows a full page loader which I sometimes find really annoying. Apart from that it lacks an android app for its accounting software which could have been really handy. It does have a separate android app for scanning receipts but lacks one for its accounting app.

Helpful for small businesses operating on simple structures.

Jan 12, 2018
5/5
Overall

5 / 5
Ease of Use

5 / 5
Features & Functionality

5 / 5
Customer Support

5 / 5
Value for Money

Pros: - Ease of use (Menu and navigation is intuitive and well laid-out)

- Simple setup (this was incredibly straightforward to set up and connect the different financial accounts needed.)

- Direct point of contact for support (From the first day I could reach out to support with any questions)

- Electronic receipt upload/storage (This makes keeping receipts way easier to both track and expense correctly)

- Pre-generated reports make it easy to get started right out of the gate (this was VERY helpful as a startup business)

- Bank and Credit Card automatic import (This is a manual process in other software that I checked out, and the fact that this is included AND incredibly easy to set up is an huge win!)

Cons: - Central mobile app management is missing. (This would really push it all the way to 11 for me. Being able to keep tabs on the financial tracking from my phone or tablet would be way better than having to dig my laptop out of my bag to show a quick report or account balance.)

Wave makes accounting for small businesses painless!

Jan 09, 2018
4/5
Overall

5 / 5
Ease of Use

4 / 5
Features & Functionality

4 / 5
Customer Support

5 / 5
Value for Money
Likelihood to Recommend: 10.0/10 Not
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Extremely
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Comments: I've used Wave for about 4 years. 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. If you're struggling to figure something out the online chat option is really helpful!

Cons: It can be a bit finicky and I've had recurring invoices fail to process in the past. However, this problem seems to have been resolved.

Excellent product for tiny businesses

Feb 07, 2018
5/5
Overall

5 / 5
Ease of Use

5 / 5
Features & Functionality

5 / 5
Customer Support

5 / 5
Value for Money
Likelihood to Recommend: 10.0/10 Not
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Extremely
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Pros: I have a business with just me for staffing. I needed accounting software, but didn't want Quickbooks (overkill for my small business). After searching and finding this (free of all things) option, I tried it out and haven't looked elsewhere since.

This is probably the only product where I've actually read the Terms and Conditions (they're fun to read). Aside from that, they make the accounting easy, are always upgrading and improving their offerings and provide responsive customer support.

It is quite robust and if you have a bigger business, they offer more for your needs (there may be fees involved at that point).

Cons: Slower to receive bank payments.

I can accept payments through Wave for a transaction fee. Credit card transactions have a higher fee and show up in my account fairly quick. 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.

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

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I love wave! I could not do business without it. It's easy to use, fast, and efficient.

Mar 07, 2018
5/5
Overall

5 / 5
Ease of Use

5 / 5
Features & Functionality

5 / 5
Customer Support

5 / 5
Value for Money
Likelihood to Recommend: 10.0/10 Not
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Pros: I can easily keep track of my expenses and my sales. I know exactly where my business stands financially and have easily-accessed records to prove it all.

Cons: I do with the app worked more like the website so maybe in the future, the two will be more alike. That's really the only area for improvement I can think of.

Overall: I can easily keep track of my sales. The invoices are customizable and can be emailed straight from the program. Everything looks very professional and makes record keeping so easy. I can easily turn the online payment off or on as needed, which is important for a small business although I do love the ability to have my customers pay online if they need to. I truly love that my business stays organized because of Wave. Can you tell I'm a huge fan?

Be aware!

Feb 14, 2016
1/5
Overall

1 / 5
Ease of Use

1 / 5
Customer Support

1 / 5
Value for Money

Comments: Be aware! Let's get straight to it. No polishing, no lies. Wave's actual system is pretty good. If it "actually" worked One sad truth about this company that you'll notice right away is that their servers or hosting is worse than blogs were in 1980. It is slow, freezes and crashes all the time. Way too annoying to work with on a daily basis for a professional company. Bottom line: the system is unreliable. Moving along to the stuff that matters even more Customer service, honesty and professionalism. Uum, try again. You will not find any of that in this company. They clearly have no clue what it means to run a professional service. Last week I processed two transactions. Both of them were more than 2 grand. Keep in mind that i'm a new startup that needs my money right away, or at least when promised. 2 days go by and no money. Okay. here we go again. I email Wave asking what's the deal with the money. I say "again" because I had the same thing with my first few small transactions. But then I thought it was only because I was a new customer so they had to confirm some details. (by details I mean force me to show them communications between me and my clients). That same day I get an email from the department that deals with the money saying in fancy words that they are withholding my money for security reasons until they can confirm some details. Again they ask for communications and authorizations. (who do they think they are?) I respond within 2 minutes with snapshots of communications and conversations straight from my client explaining who he is and that he authorized the payment. a day or two goes by and nothing. You can imagine how angry I feel about now. Projects are on hold, business stops, Wave is running me into the ground. Of course there is no one to talk to until you sign up for the live chat at ($9 a month). So I sign up, because I cannot wait. Open a chat, explain to the woman really respectfully what is going on, she looks it up for 10 minutes and responds by saying that she sees my ticket (email) and that she will escalate it to the top blah blah blah. So there I learn that live chat is basically if you have a question regarding the functions of the site, but it is basically useless regarding the things that really matter. MY MONEY! In short, you CANNOT contact anyone about it, you can only email. But emails, despite their promises may take 3 days get answered. So I send another email asking what's going on and get a response that since I submitted 2 emails my ticket was moved back down to the bottom. (That wad their way of apologizing or exusing themselves). In that same email they don't tell me that my snapshot isn't sufficient or anything like that (even though it worked for the first 3 transactions), they tell me that they need to speak to my clients to confirm payments. Really? . wow, okay I respond within 2 minutes with two phone numbers. (this is Friday after 5pm) One of my clients get's a phone call, confirms payment and they tell him that the money will be released "right away". The second client get's a phone call, but misses it. (He is still waiting for another phone call). And of course you cannot call them back, because they use fake phone numbers using local area codes. Well, guess what? The money from the first client that got the phone call from them was not released and it's Tuesday already. (almost a week from when I processed the transaction). Never heard anything back from them in past 3 days!! Conclusion: (aside from me being so frustrated, hardly able to contain myself) Well, firstly I would like to say that I switched to Quickbooks online right away. They are a professional company with lower rates and faster deposit times (ONE DAY!). And you can call them! The only reason I chose Wave over Square is because they had a good invoicing system. But i've used Square before and never had issues like this. What I mean is this: Why make an issue when there is none???? Wave makes security issues when there is none. I'm a legal, professional company in the United States. Why in the world would you pretend like there are security issues with my transactions if no one ever disputed or complained? There is no answer. Because if there was a valid answer, Square and Quickbooks would be the same concerned. Stop making issues where there are none. I would advise anyone reading this to go with Square or Quickbooks. You will end up being much happier. Unless you can afford these criminals withholding your money for as long as they like. So again: system: too slow, crashes and freezes. OH, and annoying advertisements. Support: only for functionality questions. Service: absolutely horrible and un professional. You choose. Thanks!

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

Jun 07, 2015
1/5
Overall

Comments: ..., 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.

Vendor Response

by Wave Apps on September 02, 2015

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

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

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

Jennifer from Wave

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Excellent accounting tool for very small businesses

Feb 14, 2018
5/5
Overall

5 / 5
Ease of Use

5 / 5
Features & Functionality

5 / 5
Customer Support

5 / 5
Value for Money
Likelihood to Recommend: 10.0/10 Not
Likely
Extremely
Likely

Pros: Our small business has less than 100 transactions per year, and Wave is perfect for helping us manage invoices, transactions, and receipt images. It links directly to our business checking account for updating transactions, and creates all the basic reports needed to manage the business. There are mobile apps for capturing the receipt images and managing invoices while you are on the go. Other team members can be invited to help manage the accounts. Getting started was very quick and easy with creating accounts, categories, products, and vendors.

Cons: I wish the reports had default time periods like "last year". This would be especially useful at tax time when I need to report on what happened last year. Instead, I have to constantly adjust the dates every time I run a report.

Overall: Very simple but thorough accounting tool for the needs of a small business. 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.

Wave Accounting Review

Apr 02, 2019
5/5
Overall

4 / 5
Ease of Use

4 / 5
Features & Functionality

4 / 5
Customer Support

5 / 5
Value for Money
Likelihood to Recommend: 10.0/10 Not
Likely
Extremely
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Pros: I really like waveapps. It was completely free to sign up when I started, and it allowed me to take credit card payments and other online payments super easily on my generated invoices. The recurring invoice and automatic payments make it very easy for my clients to pay me on time.

Cons: There's a bit of a learning curve in terms of making sure your invoices are scheduled how you want them to. But once you get the hang of it, it makes sense.

Overall: I've been using WaveApps for about 3 years now, and I have never had any reason to switch. Their invoices generate without a hitch, the financial recording works great, it easily hooks up to my bank account. Everything works as it should.

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Hard to beat accounting software, and it's free!

Dec 14, 2018
4/5
Overall

5 / 5
Ease of Use

4 / 5
Features & Functionality

5 / 5
Value for Money
Likelihood to Recommend: 8.0/10 Not
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Pros: For free software with no ads or other catches, Accounting by Wave is hard to beat. The interface is easy to navigate and simple to understand. For a very small business that has a tight budget and needs basic business reporting accounting, this is perfect. It's also in the cloud, so you can access it anywhere there is an internet connection.

Cons: One drawback I see is that there isn't a way to easily back up your data. One click of "delete" and a transaction is gone for good.

Overall: I have used Wave for several years now and have never had a serious issue. Highly recommend for anyone starting out on a budget for keeping up with their day to day business.

Free Accounting Software

Oct 20, 2018
4/5
Overall

4 / 5
Ease of Use

4 / 5
Features & Functionality

3 / 5
Customer Support

5 / 5
Value for Money
Likelihood to Recommend: 10.0/10 Not
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Comments: Great value for the investment (free) the paid version offered a few more support options, steer clear of you are in construction, currently you'll want quickbooks or another app that has project accounting for those lines of business, otherwise Wave is great!

Pros: The feature set of Wave truly sets them apart from the competition, especially when they are offering the services free. Wave offers a mobile app to help manage expenses and business functions. There is a robust chart of accounts platform making organization easier than quickbooks. Wave also has payment and bank account integrations which could save a business owner hundreds of hours of work per year, however this function is clunky.

Cons: This would not be a good platform for construction companies as there is not any project accounting functions. There are also no good ways to migrate from quickbooks to Wave. I simply reported my data from quickbooks and have it filed, there is no import functions.

Best Free Accounting Software

Nov 14, 2018
5/5
Overall

5 / 5
Ease of Use

5 / 5
Features & Functionality

5 / 5
Customer Support

5 / 5
Value for Money
Likelihood to Recommend: 10.0/10 Not
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Comments: I've tried others, and this is the best one out there. I continue to recommend it to any small business owners I meet.

Pros: I have multiple businesses, and Waveapps makes it extremely easy to do the dreaded chore of accounting. I can upload bank statements (if I used a large bank, I could even integrate them), accept payments, invoice and pay bills through the software. I can also easily move transactions around between accounts.

Cons: On the mobile app, I have trouble with moving transactions between accounts. I can do most everything else on the mobile version, but the drop down menus don't work on my iPad or iPhone.

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

Oct 07, 2014
5/5
Overall

Comments: 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.

Simple but Powerful

May 22, 2017
4/5
Overall

5 / 5
Ease of Use

4 / 5
Features & Functionality

4 / 5
Customer Support

5 / 5
Value for Money
Likelihood to Recommend: 10.0/10 Not
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Pros: Just starting out? Want to make sure your books are in order without having to worry about when you get paid? You need to try Wave. This tool is incredibly simple but effective. As an early user, I was skeptical about trying them out but after sending out my first invoice, I haven't looked back. It's just so easy to use.

Cons: My biggest gripe about the platform is that the user interface needs more work. 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.

Overall: Easily track invoices and manage customers.

Capterra loader

Free and good, but not great

Jan 01, 2019
4/5
Overall

3 / 5
Ease of Use

3 / 5
Features & Functionality

3 / 5
Customer Support

5 / 5
Value for Money
Likelihood to Recommend: 8.0/10 Not
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Pros: The price is definitely the biggest "selling" point. Being free, Wave allows people to have access to a somewhat-full-featured accounting app without having to spend a lot. And it has mostly everything that one would need for simple business accounting.

Cons: It's just too clunky for me. I find the Wave interface to be a bit dated and not very smooth to work with. I really wish it were easier to navigate through each page, but it's not. It's difficult when I need to switch between my data because it keeps forgetting any custom filtering, and it takes a while to load. So I ran out of patience.

Overall: I enjoyed it to an extent because it was free. The fact that it is offered for free is a huge plus, and nothing else free seems to come close. Unfortunately, I found that other apps that cost a few bucks per month gave me everything I wanted and a better interface, plus better invoicing features, better reports, etc. Still, free is free, and I can't argue with the value! It's worth it if you are trying to cut costs.

Capterra loader

Accounting for small businesses made easy

Sep 28, 2018
5/5
Overall

5 / 5
Ease of Use

5 / 5
Features & Functionality

5 / 5
Customer Support

5 / 5
Value for Money
Likelihood to Recommend: 9.0/10 Not
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Pros: Wave has really helped my small business in tracking expenses, invoices, quotes and transactions. Before, we had a Google spreadsheet where we tried to remember to put our hours in, calculate costs to send to clients, and just emailed them a PDF version of the spreadsheet and a PayPal invoice so they could pay us. Now, we can do all of that through Wave's FREE version! It's much easier (and much more professional looking) to send an email through Wave where we can process credit cards or they have an option to mail us a check. It's been great!

Cons: Wave has been adding app features for awhile, but I still haven't seen (at least on Android) an all inclusive Wave app as of yet. I have a Receipts app and an Invoice app, but sometimes I like to check my account and my transactions while on the go and while I can go to the website on my phone, it isn't the best experience.

Simple and Basic but Does the Job Very Well

Aug 15, 2018
5/5
Overall

3 / 5
Ease of Use

5 / 5
Features & Functionality

3 / 5
Customer Support

5 / 5
Value for Money
Likelihood to Recommend: 10.0/10 Not
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Pros: What first attracted us to wave was the pricing and its features. It is basically free and the phone app makes it easy to capture receipts on-the-go.

Cons: There is a learning curve to using it because it is different than most accounting/bookkeeping software. Also their website can be slow.

Overall: We used another very well-known accounting program but got tired of the constant upgrades we had to pay for. Plus it had way more features (such as payroll) that we just did not need. I found Wave Accounting online and loved it right away. The learning curve was a little long and our bookkeeper did not approve at first, but now he agrees that is perfect for our small business needs. We added the 'accept credit and bank card payments' option, so now it is not 'free' (we pay a small fee for this service) but our customers love the ease of use on their end.

Customer service can be a bit slow and it is a bit difficult to find a bookkeeper that is familiar with it. We tried a few who kept advising us to switch to our old software but we persisted and are very happy today.

Capterra loader

The (nearly) perfect FREE accounting software

Nov 21, 2018
5/5
Overall

5 / 5
Ease of Use

5 / 5
Features & Functionality

5 / 5
Customer Support

5 / 5
Value for Money
Likelihood to Recommend: 10.0/10 Not
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Pros: Besides the fact that the basic accounting side is FREE, I love how easy it makes my taxes since every transaction is labeled and easy to re-label if necessary. Connecting banks and credit cards is simple, and the interface is intuitive.

Cons: Customer support can sometimes be slower than I would like (on the order of a day or two, rather than hours), but I haven't had any emergency issues. I would love to be able to review their payroll feature, but it is not offered in my state yet.

Overall: I really like Wave and recommend it to every business owner I know.

Great accounting software for small business.

Mar 20, 2018
5/5
Overall

5 / 5
Ease of Use

5 / 5
Features & Functionality

5 / 5
Customer Support

5 / 5
Value for Money
Likelihood to Recommend: 10.0/10 Not
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Pros: All online and easy to set up and use. Links direct to our business bank account so transactions are automatically populated. Lets you see real time your Income Statement, Balance, Invoices, transactions etc. Great piece of software and highly recommended.

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.

Overall: Easy to use, live reports, integration with business bank account. Can see when invoices are viewed by customers. Can also access through mobile App as well as desktop. Great accounting software.

Amazing software and does everything I want it to!

Apr 24, 2018
5/5
Overall

5 / 5
Ease of Use

4 / 5
Features & Functionality

5 / 5
Customer Support

5 / 5
Value for Money
Likelihood to Recommend: 10.0/10 Not
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Pros: This has been my favorite software for accounting. I've used other programs like intuit quickbooks, freshbooks, etc. My biggest plus with this program is the ability to have my branding shown on invoices and in all correspondences. Wave branding is present but not in your face like the others which is a huge win for us. It's very easy to set up and to use.

Cons: There aren' t a lot of things i dislike about it. I'd say the ability for ecommerce is lacking but they are doing some great things to develop a standard checkout cart etc.

Capterra loader

The best accounting software for startups and entrepreneurs - highly recommend

Nov 02, 2018
5/5
Overall

5 / 5
Ease of Use

5 / 5
Features & Functionality

5 / 5
Customer Support

5 / 5
Value for Money
Likelihood to Recommend: 10.0/10 Not
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Pros: Ease of setup, interface, simplistic, logical, excellent apps, customizations for invoicing etc. All of it is great without a headache that comes from a QuickBooks for instance. I also like how the software/model is able to scale with your business to offer payroll and bookkeeper access. This year ACH was sped up regarding transaction time and going down to 2-days from 4 was a significant customer experience improvement. I recommend it to everyone. Support has been very helpful and expedient.

Cons: Another great product without an affiliate or referral program. I don't understand why this is not seen as a value add and great sales & marketing leverage.