Is Wave Accounting right for your business?

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best for

  • Accounting
  • Best For Most Business Sizes
  • Supports Multiple Platforms

what reviewers say

  • Great value for money
  • Great ease of use
  • Great functionality
Frontrunners

Frontrunner 2021

Software Advice's FrontRunners report ranks top products based on user reviews, which helps businesses find the right software.

What is Wave Accounting?

Online accounting software that provides features including invoicing, billing, payment tracking, payroll management, finance management, credit card processing, and receipt scanning. Wave Accounting is designed to help businesses streamline bookkeeping processes. With Wave's bank reconciliation tools, businesses can manage all bank account and credit card information in real-time to improve bookkeeping efficiency and accuracy. Businesses can also generate reports that include various data such as sales tax, balance sheet, cash flow, profit/loss, plus more. Wave's dashboard includes an invoicing tool that collects invoice payments. A small business owner can choose customizable invoicing templates based on unique business needs. Invoices can be sent via email and the so... read more

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Wave dashboard
Wave dashboard
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Wave invoice schedule
Wave invoice schedule
Wave invoice list
Wave invoice list
Wave invoice creation
Wave invoice creation
Wave bank transactions
Wave bank transactions
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User Review Highlights

4.42

1,139 Reviews

5
709
4
302
3
68
2
23
1
37
4.5

Ease-of-use

out of 5
4

Customer Support

out of 5
4.5

Value for money

out of 5
4

Functionality

out of 5
  • icon"Accounting by Wave is super easy to navigate and use. It helps with bookkeeping and makes my job a little easier."
  • icon"It is so super easy to use, integrates with my Stripe account so clients can easily pay by credit card and even better - it's free."
  • icon"Love using wave to track my spending and budgeting through their software. When I make payments with my credit card, I'm able to go in and categorize everything super easily."
  • icon"The customer service is useless. They say the transaction issue is due to their third party and that they have no control over this."
  • icon"It sometimes would get messed up. Transactions were doubled and it wasn’t always in sync with my accounts which made my accountant nervous."
  • icon"They trapped 10k+ by inserting a payment link into invoices and when the customer pays they give you every excuse in the book to hold the money."

Read user reviews

Which features does Wave Accounting offer?

Core features:

Account ReconciliationAccountingActivity DashboardActivity TrackingAlerts/NotificationsAutomated SchedulingAutomatic BackupCash Flow ManagementCash ManagementCollaboration ToolsShow more features +

People who reviewed this software give it a 4 star rating for functionality.

How easy is Wave Accounting to use and deploy?

Wave Accounting supports multiple deployment options, including: Cloud, SaaS, Web-based, iPhone, Android.

People who reviewed this software give it a 4.5 star rating for ease-of-use.

What do verified users say about Wave Accounting

4.42/5 out of 1139 Reviews

Showing 1 - 5 of 1,139 reviews

User Profile

Josh

Verified reviewer

Company size: 1 employee

Industry: Design

Time used: More than 2 years

Review Source: Capterra

This reviewer was invited by us to submit an honest review and offered a nominal incentive as a thank you.
4

Ease-of-use

out of 5
5

Value for money

out of 5
5

Functionality

out of 5

August 2021

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

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

Pros

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

Cons

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

Reasons for choosing Wave Accounting

I originally chose Wave as it was free. Now I just love it and it works well for me so no reason to even look somewhere else.

Anonymous

Company size: 51-200 employees

Time used: More than 2 years

Review Source: Capterra

This reviewer was invited by us to submit an honest review and offered a nominal incentive as a thank you.
4

Ease-of-use

out of 5
5

Value for money

out of 5
4

Functionality

out of 5

November 2021

Great Software. Super Affordable.

Pros

For a small business, or probably even a larger one, it's a really great software with all of the accounting and billing basics needed, and it's basically free. The online payment system works really well for getting payments from clients. They can either pay with a credit card or ACH, which is great. You can turn off credit card payments too if you don't want to have a fee taken from your payments, which I also find as a nice feature. The invoices look very professional, can be white-labeled, so it just has your branded information on it. The invoices are also really easy to make. We had been trying to use Excel as an accounting system when we first started our small business, and found Wave soon after. It was a huge upgrade, and not very expensive. The reports are great, and it's easy to track expenses and monies brought in. It solved all of our accounting needs as a small website building business.

Cons

The one thing we really think can be improved are the recurring invoices. It doesn't make the invoice numbers in order based on that client's invoices, so they're oddly out of order. It's not a huge deal, but would be much better if it kept the invoice numbers specific to each set of clients.

Reasons for switching to Wave Accounting

We wanted something like looked more professional, and tracked everything in one place. Problem solved for sure!

User Profile

James

Verified reviewer

Company size: 1 employee

Industry: Professional Training & Coaching

Time used: More than 2 years

Review Source: Capterra

This reviewer was invited by us to submit an honest review and offered a nominal incentive as a thank you.
5

Ease-of-use

out of 5
5

Value for money

out of 5
5

Customer support

out of 5
5

Functionality

out of 5

April 2021

My go-to invoicing and accounting tool for my small business!

Nothing but amazing! I'm so glad I switched from Square for my invoice and payment processing.

Pros

It is so easy to use, and customized specifically for small business owners. I absolutely LOVE the invoice feature - it's the primary feature that I use - and it just works so well. My completed payments rate is 100% and I believe is at least in part due to how easy the process is to view/pay invoices.

Cons

Sometimes I wish the payment speed was faster after a client makes a payment, but then they introduced instant deposits and I'm happy to pay the small fee to get my money faster!

Reasons for choosing Wave Accounting

The UX is so much better, less complicated and I can't say enough how much I like that Wave is designed specifically for small business owners and what matters to them.

Reasons for switching to Wave Accounting

Better fees, faster money and Wave is customized specifically for small business owners just like me.

User Profile

Simon

Verified reviewer

Company size: 2-10 employees

Industry: Marketing and Advertising

Time used: More than 2 years

Review Source: Capterra

This reviewer was invited by us to submit an honest review and offered a nominal incentive as a thank you.
4

Ease-of-use

out of 5
5

Value for money

out of 5
3

Customer support

out of 5
4

Functionality

out of 5

December 2021

The best accounting software for small business and self emplyoed

Great experience, great customer services, easy to use, decent mobile apps, that exactly what we were looking for in an accounting software, I just sincerely hope that they stop going in the ¨Look like Quickbook¨direction!

Pros

Wave accounting has been a great experience right from the start, its easy to use, easy to send and enter bill in fraction of seconds, and the support is great!

Cons

The last update change the format of the expense section and I really dont like it, it make it more complicated, I feel that it try to look more and more like Quickbook but thats exactly why its great ¨ITS NOT LIKE QUICKBOOK¨ and I hope they keep it that way!

Reasons for choosing Wave Accounting

Its free, easy to use and has all the features we need

Reasons for switching to Wave Accounting

Quickbook is hard and confusing to use, also super expensive for what it is

User Profile

Henry

Verified reviewer

Company size: 1 employee

Industry: Marketing and Advertising

Time used: More than 2 years

Review Source: Capterra

This reviewer was invited by us to submit an honest review and offered a nominal incentive as a thank you.
5

Ease-of-use

out of 5
5

Value for money

out of 5
4

Functionality

out of 5

September 2021

Excellent for freelancers and small businesses

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

Pros

Wave is ideal for freelancers. Set up is really simple and the interface is user-friendly. I have zero background in financial matters, and with Wave that's totally fine. The price is also right. There's no subscription or hidden fees, they just take a perfectly reasonable percentage from invoice payments. I asked a financial advisor friend of mine before signing up, and she was pleasantly surprised by the low rates, and told me to go for it. I've been using Wave for over 3 years, and I have never once been hit with a fee outside of the basic rates. Wave also provides a host of reporting and tracking tools in this basic account. They didn't influence my decision to sign up, but they've proven to be very useful. And finally a small but really helpful feature, especially if you're a freelancer just starting out: immediate money transfers. Once someone pays your invoice, the money is in Wave, and takes 2-3 days to transfer. For 1% more payment, you can transfer money within minutes. For the cash-strapped freelancer, that can be mana from heaven.

Cons

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

Reasons for choosing Wave Accounting

It was the cheapest option, and the most user-friendly looking. I have no background in finance and didn't want complex features built for accountants - Wave has those features, but only if you want them.

Showing 1 - 5 of 1,139 reviews

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