Wave software


Wave is a web-based integrated accounting solution exclusively designed for small organizations. Collectively, the solution features accounting, invoicing, billing, payment tracking, payroll management, finance management and receipts.

With the bank reconciliation feature, businesses can link their bank accounts, PayPal accounts and other sources of data for real-time transaction records. Businesses can also generate reports such as balance sheets, sales tax reports and account receivable and payable reports with Wave accounting.

Wave accounting system also provides an invoicing tool to collect money, and users can choose the template of their choice as per the organization’s needs. Invoices can be sent via email, and the system's payment processing allows users to collect credit card payments.

Wave's payroll module (supported in the U.S. and Canada) comes with features such as direct deposit and employee self-service. The personal finance tool features a budgeting tool, real-time investment tracking and a dashboard for personal finance management.

Supported Operating System(s):
Windows 7 , Windows Vista , Windows XP , Mac OS , Linux , HP-UX , AIX , Solaris , Unix , IBM OS/400 , Web browser (OS agnostic) , Windows 2000 , Windows 8 , Windows 10

480 Reviews of Wave

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  • Randy from World Wide Learning Group

    Number of employees: 2-10 employees

    August 2018

    Simple and Basic but Does the Job Very Well

    Ease-of-use
    Functionality
    Quality
    Support
    Value for Money

    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.

    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.

    This reviewer was invited by us to submit an honest review and offered a nominal incentive as a thank you.
    Review Source: Capterra
  • Maddie from Maddie Elise Nutrition

    Number of employees: 1 employee

    August 2018

    Saved from myself!

    Ease-of-use
    Functionality
    Quality
    Support
    N/A

    I really feel like this program has made my accounting something I can actually do on my own - excel sheets and budgeting have always been scary for me!

    Pros

    As a new business accounting has been a sore spot for me from the beginning. I love that I can do all of my business financials through wave - I can even retroactively add in expenses and payments that weren't processed through wave. I also use Wave invoices for my retail customers and it automatically reminds them when a payment is overdue - it allows me to have a friendly and personal relationship with my clients and let's wave deal with the money stuff!

    Cons

    I would love to see the wave invoice and receipt apps integrated into the accounting app, so I don't need to have a bunch of accounting apps. But the information is still integrated so it isn't a massive hassle and wouldn't prevent me from recommending it.

    This reviewer was invited by us to submit an honest review and offered a nominal incentive as a thank you.
    Review Source: Capterra
  • Julian from AlphaPaddle

    Number of employees: 1 employee

    August 2018

    Satisfied with Wave Accounting

    Ease-of-use
    Functionality
    Quality
    Support
    N/A
    Value for Money
    Pros

    Wave was very easy to create an account for, and the online interface is easily navigable. They tried to keep it simple so that small business owners can use it without much training. I like the forms that are used to input expenses and income.

    Cons

    They may send you a good deal of notifications asking you to utilize various elements of the platform. It is easy to link a bank account, but harder to connect a credit card.

    This reviewer was invited by us to submit an honest review and offered a nominal incentive as a thank you.
    Review Source: Capterra
  • McKay from Elemerce

    Number of employees: 1 employee

    August 2018

    Great for a free software, everything you need for a simple business

    Ease-of-use
    Functionality
    Quality
    Support
    Value for Money

    Great so far, don't have any issues. Can't complain that it's free!!

    Pros

    It links to my bank accounts and really does almost everything Quickbooks does. I can send invoices and put in expenses just fine.

    Cons

    One downside is it doesn't let you track you miles. That's ok though since I can do it separately with an app.

    This reviewer was invited by us to submit an honest review and offered a nominal incentive as a thank you.
    Review Source: Capterra
  • August 2018

    Easy App

    Ease-of-use
    Functionality
    Quality
    Support
    Value for Money
    Pros

    Easy invoicing and purchasing records for a new user who has never used any application before.

    Cons

    Free applications can be improved and remebered easily by anyone and this could be the best marketing place.

    This review was submitted organically. No incentive was offered
    Review Source: GetApp
  • Mark from FCV Interactive

    Number of employees: 51-200 employees

    August 2018

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

    Ease-of-use
    Functionality
    Quality
    Support
    Value for Money
    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.

    This review was submitted organically. No incentive was offered
    Review Source: GetApp
  • John from JB Legal Services

    Specialty: Legal

    Number of employees: 2-10 employees

    August 2018

    Cannot handle Australian GST

    Ease-of-use
    Functionality
    Quality
    Support
    Value for Money
    Pros

    Free. There are no pros if it doesn't work so the pro is Free. Being Free is the pro. There are no more pros.

    Cons

    Can't work with GST. Imports bank lines incorrectly, sometimes showing same transaction on 3 days. Puts stripe fees in without GST (ie wrong). Cannot write invoices as GST inclusive. Links transactions incorrectly, joining a bank transfer btwn accounts with a credit card purchase. No search function. No sort. Can't find transactions at all.

    This review was submitted organically. No incentive was offered
    Review Source
  • Verified Reviewer

    Number of employees: 1,001-5,000 employees

    August 2018

    accounting through wawe

    Ease-of-use
    Functionality
    Quality
    Support
    Value for Money

    A very innovative software that has many tools, where any can rely and keep a more accurate accounting, I have the feeling of reliability and solidarity, that none of my data will be revealed or checked, it is very safe and practical, I recommend it

    Pros

    it seems to me an interesting software that can help to carry any accounting of any company, has the function of organizing your finances, and consists of the process of registering your bank accounts within the software and with a backup security, where only allows you to see the account statements as reading not to modify or make transfers, in addition to that the passwords can not be violated, it seems to me an innovative and safe tool so that they can carry the accounting records in an automatic way

    Cons

    very good tool, great help and personal assistant, I have nothing negative to add to this software.

    This reviewer was invited by us to submit an honest review and offered a nominal incentive as a thank you.
    Review Source: Capterra
  • Jenny from Self-employed

    Number of employees: 1 employee

    August 2018

    Great accounting app for freelancers and small businesses

    Ease-of-use
    Functionality
    Quality
    Support

    Free and intuitive app to organize your accounts on a small scale.

    Pros

    I tried this out when searching for a good way to keep my clients and business expenses in order. The UI was easy on the eyes and intuitive. I did like that it's free and offers the base features any business owner would need. If customizable and professional-looking invoices are high-priority, then this is the ideal app for it.

    I also liked the "income estimate" feature so I could easily get an overview of how much I can expect to earn.

    Overall a very useful software that comes with native iOS and Android apps for anyone who wants to keep their business organized and ready for tax season.

    Cons

    As I had come from a different app, I wanted to manually input my past income and assign it to clients but couldn't do so. I reached out to support and they confirmed that manual input and assignment wasn't supported. I had to switch to a different app after that since I didn't want to split my past and present clients between two apps.

    On the plus side, customer support was very prompt and friendly.

    This reviewer was invited by us to submit an honest review and offered a nominal incentive as a thank you.
    Review Source: Capterra
  • Verified Reviewer

    Number of employees: 2-10 employees

    August 2018

    Lacking some features

    Ease-of-use
    Functionality
    Quality
    Support
    Value for Money
    Pros

    It is easy to use and the price is great.

    Cons

    It lacks a few features including an open API that would make it usable to most people.

    This reviewer was invited by us to submit an honest review and offered a nominal incentive as a thank you.
    Review Source: Capterra
  • Robel from Electronic Products Recycling Association (EPRA)

    Number of employees: 51-200 employees

    August 2018

    Accounting by Wave review

    Ease-of-use
    Functionality
    Quality
    Support
    Value for Money
    Pros

    - Similar in functionalities to other bookkeeping software but completely free, great value for money. Invoicing is very straight-forward and train others how to use

    Cons

    - Other softwares are better at automating repeat invoices so that you don't have to manually enter the same invoice over and over again

    This reviewer was invited by us to submit an honest review and offered a nominal incentive as a thank you.
    Review Source: Capterra
  • Verified Reviewer

    Number of employees: 1 employee

    August 2018

    Fine, but I probably wouldn't use it if it weren't "free."

    Ease-of-use
    Functionality
    Quality
    Support
    N/A
    Pros

    I like that it's free—that is, there's no subscription fee. Wave makes money by charging credit card processing fees, etc.

    Cons

    I've never used a business accounting software before, but I'm a heavy Mint user, so I'm comparing it to Mint. Wave is very slow when refreshing bank connections, and about 1/3 of the time I get an error message saying there's something wrong with the connection, so come back later. Also, there's no way to create rules for categorizing transactions, so I have to categorize them all by hand.

    This reviewer was invited by us to submit an honest review and offered a nominal incentive as a thank you.
    Review Source: Capterra
  • JENNIFER from Anaheim Hills family optometry

    Number of employees: 2-10 employees

    August 2018

    What a great program for a the small business owner.

    Ease-of-use
    Functionality
    Quality
    Support
    Value for Money

    Great experience thus far. This has solved the biggest issue that I was having in putting together a small business.

    Pros

    I love the ease of use with this program. The simplicity makes so its not overwhelming as well as the support chat. I was able to navigate my way through the program quite easily that’s to the support chat. On top of that bonus it’s free!

    Cons

    What I didn’t care much for was that you had to pay for the payroll part of the app but still small price to pay for such a great program such as Wave.

    This reviewer was invited by us to submit an honest review and offered a nominal incentive as a thank you.
    Review Source: Capterra
  • William from Will Figg Photography

    Number of employees: 2-10 employees

    August 2018

    Not what we were looking for, but will fit others well.

    Ease-of-use
    Functionality
    Quality
    Support
    Value for Money
    Pros

    I loves all the features this software had. Even though we were looking for more it was a great program for the amazing price of Free. I would say if your just starting out this is a great option for you then.

    Cons

    I wanted it to be able to sync with other programs I had that were specific to our company and unfortunately it was limited. Also every accountant we have interviewed before we hire our guy now only used QB. They had a hard time implimenting this into their workflow.

    This reviewer was invited by us to submit an honest review and offered a nominal incentive as a thank you.
    Review Source: Capterra
  • Verified Reviewer

    Number of employees: 11-50 employees

    August 2018

    Easy, Intuitive Accounting Software

    Ease-of-use
    Functionality
    Quality
    Support
    N/A
    Pros

    Accounting by Wave is great for regular accounting, invoicing, and reporting. I use it for a small business and it does everything we need it to and more!

    Cons

    No complaints! For free software, you'd be hardpressed to find a better alternative!

    This review was submitted organically. No incentive was offered
    Review Source: Capterra
  • Jean from Tahoma Vista Fiber Mill

    Specialty: Agriculture

    Number of employees: 2-10 employees

    August 2018

    Integrates all of my Finances

    Ease-of-use
    Functionality
    Quality
    Support
    N/A
    Pros

    Wave is free. The functionality is as good as or better than the paid services I've investigated. I have multiple small businesses, and I can move transactions from one to another easily. I use it for all of my invoicing, and the online payment system works well for my customers. Easy to set up and use, very flexible.

    Cons

    I wish it had point of sale. That would make it absolutely perfect. It's close now, but I'm dreaming of one application that provides accounting, payroll and point of sale at a price I can afford with my start-up business.

    This reviewer was invited by us to submit an honest review and offered a nominal incentive as a thank you.
    Review Source
  • Jerry from Kreilkamp Trucking Inc

    Number of employees: 51-200 employees

    August 2018

    Wave is a great accounting software service

    Ease-of-use
    Functionality
    Quality
    Support
    Value for Money

    They were there when we needed something new and fresh. We have been impressed since day one.

    Pros

    last year we needed a new accounting software, Wave fit the bill on every note. Their pricing is comparable and ease of use is intuitive.

    Cons

    We don't have any Cons they have met all our needs and have an up to date system. and continue to add new features.

    This reviewer was invited by us to submit an honest review and offered a nominal incentive as a thank you.
    Review Source: Capterra
  • Jenny from Bendigo Baptist Church

    August 2018

    What an amazing product!!!

    Ease-of-use
    Functionality
    Quality
    Support
    Value for Money

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

    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.

    This reviewer was invited by us to submit an honest review and offered a nominal incentive as a thank you.
    Review Source: Capterra
  • michelle from self employed

    July 2018

    Wave is great for solo or small businesses

    Ease-of-use
    Functionality
    Quality
    Support
    Value for Money
    Pros

    I use it to keep track of my expenses and run reports for my accountant at tax time. It's easy to use and there's a free version.

    Cons

    Sometimes I have trouble getting it to do exactly what I want. For example, I have to do a lot of configuring to get it to sort expenses into categories, etc.

    This reviewer was invited by us to submit an honest review and offered a nominal incentive as a thank you.
    Review Source: Capterra
  • Verified Reviewer

    July 2018

    Ideal for small businesses or freelancers

    Ease-of-use
    Functionality
    Quality
    Support
    N/A
    Pros

    In my opinion, this software is ideal if your business is based on services. It has very good features, such as billing schedule and automatic updating of banks feed. It is easy to use, you can login with your google account.

    Cons

    They could unify the mobile applications. And improve the services of customer service and problem solving.

    This reviewer was invited by us to submit an honest review and offered a nominal incentive as a thank you.
    Review Source: Capterra
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