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.

Dashboard
Dashboard

Dashboard

Accounting

Accounting

Invoices 1

Invoices 1

Invoices 2

Invoices 2

Invoices 3

Invoices 3

Payments

Payments

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



588 Reviews of Wave

Overall rating

4.5 / 5 stars

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Verified Reviewer

Number of employees:  1 employee

Ease-of-use

Functionality

December 2018

Love it, Minus Some Quirks

Pros

Free fully-featured accounting software. Where else can you get that? It's hard to beat!

Cons

It claims to feature a PayPal integration, but handles the accounts very poorly. If I transfer funds from PayPal to my bank, it registers the bank transaction, but leaves the money in the PayPal account. It can't even ping the PayPal balance so I have ghost money in accounts that I have emptied into my main bank account. Very frustrating!

Review Source: Capterra
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Verified Reviewer

Number of employees:  2-10 employees

Ease-of-use

Value for money

Customer support

Functionality

December 2018

What I was looking for

Pros

The accounting and invoicing sections are the most helpful to me! you can connect to your bank account and track business transactions so much more easily!

Cons

I wish the processing time for payments was a little quicker. But, I talked to a customer service rep the other day and they said they are working to fix this in 2019.

Review Source: Capterra

Preston from DENTAL SMILES FOR KIDS LTD KENYA

Number of employees:  11-50 employees

Ease-of-use

Value for money

Customer support

Functionality

December 2018

Accounting by wave review

Generally, Wave is a wonderful tool. I have used it since I was employed and I have never experienced any problem with it. It is easy to have two or more people to manage it. My boss can see how many invoices we have created in a particular day. Hence I find it convenient.

Pros

It is easy to use and its free. I do send receipts and invoices to our clients whenever the receptionist is not around. I like how it is integrated with wave receipts hence easy to scan and post to accounting.
We do enter the bills using it making it easy for us to pay our creditors on time.

Cons

You can not use it without internet connection. That is the only drawback I have with it. It is a wonderful tool.

Review Source: Capterra

Melissa from Seres Consulting S.A.S

Number of employees:  11-50 employees

Ease-of-use

Value for money

Customer support

Functionality

December 2018

MEET MY NEEDS

Pros

Excellent tool to manage invoices and easy to use
pretty detailed tool, I like I recommend it

Cons

at the moment it works very well I have no negative comments to add

Review Source: Capterra

Emily from ERM

Number of employees:  2-10 employees

Ease-of-use

Value for money

Customer support

Functionality

December 2018

Wave Review

All in all if you are just starting out and need something basic and cheap this product will work. I would recommend it only for basic accounting features.

Pros

The software is very user friendly for basic accounting and bookkeeping functions. It helps someone with minimal accounting background to be able to organize the basic daily operations of their business

Cons

I found the software to be slow. It also did not allow me to customize reports and accounts easily and provide additional detail data.

Review Source: Capterra

Asya from Hope Unlimited People Services, LLC

Number of employees:  11-50 employees

Ease-of-use

Functionality

December 2018

Wave Review

Pros

Accounting without having to hire an actual individual. Easy to use.

Cons

The amount of time it takes to learn how to use the software.

Review Source: Capterra

Ashley from FairBloom Marketing

Number of employees:  2-10 employees

Ease-of-use

Value for money

Customer support

Functionality

December 2018

Accounting by Wave simplifies my invoicing and accounting

My experience with Wave has been quite positive. All of my accounting and invoicing is easy to access - but more importantly, I can see at a glance how my business is doing. I just wish it incorporated with my CRM.

Pros

Wave allows me to automate billing and reminders for each client. I can easily adjust each invoice, so if a client adds something temporarily, then I can include that. It also allows my clients to schedule automatic payments and pay online, which makes things very easy for me and for my clients.

Cons

The fees. Although the software is free and I understand entirely that merchant transaction fees are a part of life, I do wish the fees were a bit lower. For the money I don't spend on the software, the fees are more of a personal gripe and not a huge negative for me against the software.

Review Source: Capterra

Stacy from WeAreTeachers

Number of employees:  11-50 employees

Ease-of-use

Value for money

Customer support

Functionality

December 2018

Wave is a Great Software When You Want to Stay Organized and Keep it Simple

I was impressed with it, especially the free options.

Pros

It was incredibly easy to use. We set up recurring payment and organized a customer list through it. We were also able to do invoicing with ease and stay really organized.

Cons

It doesn't have as many bells and whistles, but it's still really great as a basic software.

Review Source: Capterra

Silvia from Tranquil Home care

Number of employees:  11-50 employees

Ease-of-use

Value for money

Customer support

Functionality

December 2018

Accounting by wave review

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.

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.

Review Source: Capterra
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Verified Reviewer

Number of employees:  51-200 employees

Ease-of-use

Functionality

December 2018

Accounting by Wave great solution for small start ups

Pros

Accounting by Wave is free, with the best customised invoices I have seen even when rated against paying accounting systems. It is easy to figure out for someone with a non accounting/ bookkeeping background. If you are starting out and need a bookkeeping solution, this is the best on the market. We use it for all our start up partners and they love it.

Cons

It may become a bit frustrating for a trained accountant as it is very simplified, keeping it simple I guess is the secret to a successful product.

Review Source: Capterra

Katie from Luther Seminary and Augsburg University

Number of employees:  1 employee

Ease-of-use

Value for money

Customer support

Functionality

November 2018

Fantastic for My Freelancing Side Hustle

Great experience that provides all the basics for running a small freelance business or side hustle.

Pros

I switched to Wave from Freshbooks when I stopped freelancing full time, but kept it as a side hustle. It was hard to beat the monthly pricetag (FREE!). Now, even if I went back to full-time freelancing, I'd keep Wave. It makes invoicing, bookkeeping, and expense tracking so easy. Plus, I love that I can accept both credit card and ACH payments with it. I also love that it can handle payroll for solopreneurs. It really is a great resource.

Cons

Honestly, it does everything I need at a price you can't beat. Highly recommended for solopreneurs and side hustlers like me!

Review Source: Capterra

Shirley from Prairie Gothic

Number of employees:  2-10 employees

Ease-of-use

Functionality

November 2018

Perfect Accounting App for Me

Pros

Wave makes tracking business income and expenses super simple. Generating invoices is a snap. I like it and my accountant likes it too. This app could be a huge asset to any entrepreneur or small business owner.

Cons

Just nitpicking but I would like the option to consolidate the Wave Accounting and Payroll apps into a single dashboard.

Review Source: Capterra

Vin from Sahadi Fine Foods

Number of employees:  1 employee

Ease-of-use

Value for money

Customer support

Functionality

November 2018

My go to accounting system! I love it!

I use this software to invoice and bill my clients. I do create estimates sometimes, but the true power of this platform is in the invoicing and recurring invoicing features and the baked in ability for customers to pay online. Super simple to setup and use. I know when my customers view the invoice. The mobile app lets me know when a customer pays. The online portal access is easy and intuitive to use. They are constantly updating the platform. I mean - WOW - for a program that is completely free - it is simply amazing. Should I ever require the need to hire an accountant - I'll be going through these guys first for sure. Amazing job all around!

Pros

It's free. Completely free. You only pay when you need to hire an accountant through them. Wow. LOVE the mobile apps!

Cons

As of now - and to the best of my knowledge - this software is a straight accounting software - so if you need inventory management or other types of addons, this software may not be for you.

Review Source: Capterra
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Verified Reviewer

Number of employees:  1 employee

Ease-of-use

Functionality

November 2018

Beautiful product that prioritizes small businesses

Wave is smart and easy to use for my small business, however I do feel like I'm not using it to its fullest potential because I don't need payroll services and some of the other features that wave offers. I do enjoy the clean and professional impression that I am able to give potential clients by using wave!

Pros

My favorite feature is the invoicing capability. Invoices from wave are clean, professional, and customizable - not just with my logo, but down to the color scheme! I love being able to keep my branding consistent across products. Sending reminders, storing products and clients, and having payments delivered right to my bank account are great perks of wave invoicing!

Cons

I wish it integrated into more other platforms, like website hosts. Being able to use a wave plugin on my website to collect payments directly would be excellent. I would like to be able to streamline the number of software products I use in my business, and wave including that feature would definitely help on that front.

Review Source: Capterra
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Verified Reviewer

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

Ease-of-use

Functionality

November 2018

Long time user

Pros

I've been using Wave since the beginning of my freelance business and it never disappoints. It combines everything you could possibly need from an accounting perspective and also includes invoicing, payroll, quotes, and more.

Cons

What is and isn't included in the pricing is a bit cloudy at times as well as the huge amount of settings and tools in the app. Sometimes it's hard to navigate.

Review Source: Capterra
LinkedIn icon
Verified Reviewer

Number of employees:  1 employee

Ease-of-use

Value for money

Customer support

Functionality

November 2018

Perfect for small business owners, especially those just starting out.

Pros

I found Wave whilst looking for basic accounting software, and it's turned out to be so so much more than that. I am amazed that they give away this type of service for free. It's excellent quality software and when I have employees I'll be using it for payroll too (a paid service, I believe). Very high quality and great resources available to help you learn about accounting and bookkeeping.

Cons

I'd like more of the smaller banking services to be supported e.g. Starling. These are new banking services though so perhaps it's only a matter of time before Wave can sync with those too.

Review Source: Capterra

Mohamed from Datacom

Number of employees:  2-10 employees

Ease-of-use

Value for money

Customer support

Functionality

November 2018

The accounting app for all start-ups

This is the one accounting application suite for your business start-up. You'll not need any further apps

Pros

ease of use, and tiers of pricing which you couldn't ask for more

Cons

still integration with other apps limited somehow, and payroll is not available except in US

Review Source: Capterra

Gregg from ASSOCIATED CHURCH PRESS

Number of employees:  2-10 employees

Ease-of-use

Value for money

Customer support

Functionality

November 2018

Free accounting with added features and mobile tools

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.

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.

Review Source: Capterra

Krysta from Krysta Wallrauch

Number of employees:  1 employee

Ease-of-use

Value for money

Functionality

November 2018

Accounting Made Simply Easy!

Thankfully, I've never really had an issue with the software. Never needed to contact support, because the software has worked beautifully for what my personal needs. I am able to keep accurate records and send invoices PLUS receipts to my clients. I LOVE Wave!

Pros

The ease with which I'm able to track my expenses and categorize them. I also like how clients can pay me immediately, and it goes DIRECTLY into my business account. In addition, I am able to see my earnings growth, which is essential in my line of work.

Cons

That there's a fee involved when someone pays me online, though I understand it's necessary.

Review Source: Capterra

Mark from Wayfare Accounting LLC

Number of employees:  1 employee

Ease-of-use

Value for money

Functionality

November 2018

Recommended for small, basic businesses

It's a great free option for business that are just starting out.

Pros

The software is great if you just need a basic accounting platform to track the finances of small business. I recommend this to clients that don't need more robust features from Xero, QBO, etc.

Cons

It's not particularly great at generating reports or providing business metrics.

Review Source: Capterra