Wave

Wave Review

Comments: Wave is a program that is intended and implemented for helping businesses streamline processes.

Pros:

Bank account management : with Wave you can manage all your bank account.

Cons:

The program helps you through all its indicators to make business decisions.

A good alternative to QBO

Comments: Overall, if I were more knowledgeable at setting up the account properly from the beginning, I'm sure the experience would have been just fine. I ended up switching to QuickBooks online once I had an actual bookkeeper who could do all the setup for me. As for an alternative to QB, this seemed almost identical to the base properties of the program, but it's been a few years so I can't compare what features they offer now.

Pros:

free version offered a lot of great features comparable to QB Online

Cons:

Not being an accountant-minded person, I needed to catch up on account reconciliation. It was not easy to figure out and took a lot of time, even with the help pros. Spent hundreds of $$ for multiple calls with a help pro who did the work and had me watch but never actually taught me how to do it myself. And then never answered my questions via email as he explained he would.

Good software for basic use, great for personal accounts.

Comments: It was great solution for small business in the UK market, however with the introduction of MTD in the UK, Wave has decided to stop developing the product for the UK market within MTD.

Pros:

I liked that it was an online free solution for the UK customers.

Cons:

The reporting side is very limited, only basic reports are available.

Great for small businesses

Pros:

Wave is very intuitive and easy to use for small businesses. There is a free plan for recording income, expenses and simple reporting.

Cons:

A lot of more enhanced features now require a paid plan starting in 2024. In the past, most of these now paid features were free.

Improved visibility, control and efficiency.

Comments: Working smarter for quick and easy results with predictive analytics and insights.

Pros:

Wave has the visibility and control needed across accounts payable, global payments, procurement and employee expenses to run business more efficiently and drive growth. It's users friendliness has been enhanced by the power of AI.

Cons:

Personal designing of the dashboard is not desirable. It is also disappointing that some banks are not fully implementable on the software.

Amazing Cloud Accounting Product for SMBs

Comments: very positive overall and have been using it for years.

Pros:

Love the fact that you can do payroll, invoicing, payment by credit card and taxes all in 1 solution for small business

Cons:

Probably the payroll fee each month that I have to pay. Some providers are free and for small business every single $ counts.

A Great Companion for Your Small Business

Comments: As a freelancer, I rely on Wave to send invoices, track payment statuses, and keep all my earnings organized for tax season. It provides everything I need in one place. Even though I only tap into a fraction of Wave's capabilities, I can only imagine the full potential of the platform, especially in its paid version. I wholeheartedly recommend Wave to anyone looking for an efficient solution!

Pros:

The user-friendly interface of Wave is incredibly intuitive, making it easy for me to accomplish the tasks I need without any confusion. I particularly appreciate the extensive customization options available for documents like invoices, allowing them to appear both professional and personalized.

Cons:

Although the customization features are impressive, there are still a few areas that could use some refinement. However, the overall quality of Wave is so high that it's challenging to pinpoint any significant drawbacks.

A simple-to-use accounting platform for small businesses

Comments: I am not a professional accountant but I am able to do simple bookkeeping for my two small businesses myself - thanks to Wave. Invoices can be uploaded in a very intuitive way and connecting outside banking accounts is easy and works very well.

Pros:

Wave is an easy-to-use accounting software. Even people who are not accountants, like myself, can use it. I am a small business owner who does his accounting. The best part is - Wave offers the option to run multiple businesses through the same account. It's very convenient. I simply switch from one business to another without having to log into another account.

Cons:

Many things I did not like about Wave have been fixed over the years. It was mostly performance issues, but they've all been addressed now.

Easy free invoice automation

Pros:

Generous free starter plan with everything needed for a startup. Invoice automation and automated followups to get invoices paid. All super easy to set up.

Cons:

There are a few accounting limitations that were only available on paid plans but I guess at that points it'd be worth upgrading.

So happy with the free version!

Comments: So happy with a free software that actually takes care of my needs.

Pros:

I use the free version and am completely happy with it! I am not an accountant, so my learning curve was big, but that was more for the accounting side and not the software side.

Cons:

It freezes up sometimes when I try to open too many windows.

Great accounting & invoicing tools for small businesses

Comments: positive! I've been using them for 5 years and have needed to reach out for personal help a couple of times. They are attentive and thorough even if you have to wait a little bit. The chat function is pretty thorough & helpful too.

Pros:

User friendly, pretty easy to figure out how to do things, simple interface, the free plan offers a lot of tools

Cons:

The process for automatically categorizing payments and income doesn't work as smoothly as it could. Their AI tool is alright but makes mistakes. When you use their native Checkouts tool for collecting payments, they are categorized in a way that you cannot fully edit.

One of the best SMB accounting tools out there

Comments: I'm not an accountant by any means, but I know most failed businesses fail because of poor accounting practices; Wave made it easy for me to track due invoices as well as my costs to make sure I kept running in the black and made me look super professional.

Pros:

As a SMB or sole-consultant Wave takes all the annoyances of invoicing and tracking payments in/out super simple.

Cons:

I've honestly not run into an Cons while using Wave (formerly "Wave Accounting).

Accounting without a Cost

Comments: I loved this software/app so much that I actually decided to open a personal account and use it for mine and my husbands personal finances! I had been using the good ole trusty excel for this. But this makes everything so much nicer. It imports all my husbands charges and then I can code them and see just where our money is going. Not to mention, it has help the business I work for be more successful in bringing in a bigger profit! If you are trying to decided between software's and don't know where to start, try Wave for your business accounting needs.

Pros:

The first greatest thing about Wave is that is FREE!!! If you are just starting out, or a small business where overhead and expense need to be kept to a minimum, I recommend this app. It has all basic functions you need like, quotes, invoicing, statements, entering bills, receipts, reconciling bank statements, etc. All of these services including reporting are included in the free software! It has payroll functions for an additional charge, which we have opted out of for the time being. You can even link your bank account to it and it will import all the your debits and credits for reconciling. Also, this software is super user friendly and you do not need to be a tech expert to understand it. It will set you up with preloaded items it thinks you need for your business and then you can change them or delete them. You can also add new ones super easy while doing this or after the fact. I really love that its cloud base and can be accessed anywhere. This makes it key for me when traveling for work.

Cons:

Honestly Wave is pretty awesome that it was hard to find cons with it. The only drawback for me is the reporting. I wish I was able to customize them and select certain data to analyze. The reports are basic and standard, they just don't quite cover what I am looking for in my reporting.

Love the Starter Version of Wave

Comments: I've used Wave for quite a while now & Love it. I will eventually move up to one of the paid subscriptions as this program has enabled me to be more professional with invoicing.

Pros:

Having a free version for small business owners is truly amazing. The fact that it works so well and is very easy to setup & use is a blessing

Cons:

I realize every business needs to make money - the latest update which now makes you download the invoice to send as opposed to being able to send from within Wave is nothing more than a small extra step.

better than quickbooks in my opinion

Comments: quickbooks was confusing to me. i happened to find wave just browsing the internet and it seemed a lot easier to me.

Pros:

simple interface. very easy for a beginner.

Cons:

no complaints really. i only use it for my commercial accounts so it's pretty simple for me.

One Stop Money Management Platform

Comments: My overall experience has been outstanding. The business has used Wave for nearly 6 years.

Pros:

I like the ease of use and the ability to create both individual invoices and recurring invoices. I also like the ability to take a range of payments from card to direct deposit (ACH). Finally, the ease of managing transactions makes my life easier as a small business owner.

Cons:

The recent price increase, while understandable, is never fun.

Excellent Free Software for Small Businesses

Comments: Extremely easy to use and a perfect first software for service based businesses that don't want to pay for Quickbooks yet.

Pros:

- Free - Cloud based - Easily customizable/brandable invoicing and reports

Cons:

It does not do costing per order or inventory management as far as I'm aware.

Wave gets two thumbs up

Pros:

The software is beyond easy to use. I can design and customize my invoices which helps my business stand out from the rest. Invoices only take a few minutes to create, and clients can pay by clicking directly on the email link.

Cons:

I cannot think of any negatives at this time.

Online Invoicing Program

Comments: Invoice creation and processing requires zero manual processes with Wave.

Pros:

Wave has robust features that enables me to eradicate manual processes during data entry in various aspects such as bank reconciliation, AP and AR.

Cons:

I have never come across any error on the pro plan.

Our business runs on Wave

Pros:

Free to use most features. Professional looking branded invoices.

Cons:

Lack of support on the free tier. confusing to set up for non accountants.

A must have business Accounting service especially for Canada

Comments: My income taxes are basically done as we go at any taken day. If you got everything categorized your taxes are always done.

Pros:

CRA certified Free to use but as good as QuickBooks Great for solopreneurs, freelancers and small business Easy connect to all back accounts and credit card or LOC all under the same account. Can have multiple businesses Auto categorization of income and expances Auto GST calculation on qualified purchases only and on sales and properly calculated in the reports

Cons:

Unless you get an optional paid subscription services that many business don't even need you can not get any support not by email nor by Messenger or on the phone. You are on your own. You can only use their knowledge base or online videos. If you have an issue that is not in the knowledge base you are on your own to figure it out.

Worst Customer Service EVER

Comments: Horrid. Eventually you will have a question and need help. Even with the 16 dollar per month they were completely un helpful and dismissive. All you have is chat that they send you pre written script blurbs. While the chat people are PC your in a hell of where they can not do anything.
It was like calling 911 and instead of someone sending help they just sit there and say "Oh that sounds bad, I understand, Golly darn."

Pros:

At first it was useful. Glitchy but free.

Cons:

Customer Service Help Desk The non existent manager No phone to call even with a paid membership

Great affordable payment and accounting software for small business

Pros:

Managing client invoices, recurring payments and account dashboard to see the business profitability

Cons:

Harder for my bookkeeper to use with tracking year end taxes and P&L (previously experienced with QB)

GREAT FOR SMALL BUSINESSES

Pros:

PROS- ease of recurring billing, saves information for each company or customer needed to be sent invoices, you're able to change pricing for each product or service you are billing for

Cons:

It is all online so you need to keep track of everything via internet

Good for a free app

Comments: We have used this app for many years, and given that the version that we use is completely free, I have no complaints

Pros:

Easy to produce invoices and record payments on the go via the iPhone app

Cons:

Would be useful to have better customisable options so that searching for invoices is easier. Would also be useful to be able to do quotes by the app. Unfortunately we only use this app for invoicing and not expenses due to the fact that scanning receipts is not yet available in the UK.