About Wave

Wave is an online accounting platform exclusively designed for small business owners, freelancers, and consultants. Wave's software provides features including accounting, invoicing, billing, payment tracking, payroll management, finance management, credit card processing, and receipt scanning. This online accounting software 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.


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Supported Operating System(s):

Web browser (OS agnostic)

960 Reviews of Wave

Average User Ratings

Overall

4.41 / 5 stars

Ease-of-use

4.5

Value for money

4.5

Customer support

4.0

Functionality

4.0

Ratings Snapshot

5 stars

(584)

584

4 stars

(267)

267

3 stars

(56)

56

2 stars

(21)

21

1 stars

(32)

32

Likelihood to Recommend

Not likely

Very likely

Showing 1 - 5 of 960 results

May 2019

Andi from Hummingbird Marketing Services LLC

Verified Reviewer

Company Size: 2-10 employees

Industry: Marketing and Advertising

Time Used: Less than 2 years

Review Source: Capterra


Ease-of-use

5.0

Value for money

5.0

Customer support

5.0

Functionality

5.0

May 2019

Wave Shows Me the Money!

Before I used Wave, I was behind every month on my invoicing. I hated sending invoices, and I really, REALLY hated being the Collections person, asking my clients to pay their bills. Then I found Wave, and my whole life changed. I was able to get set up super quickly, connect to my bank, add my clients' contact information, and set up the template for my invoices. Now, I have "Monthly Invoicing" on my calendar, and it takes me about 15 minutes to handle the task (instead of 2 hours). My favorite emails are, "Congrats! You Got Paid!" from Wave. I feel fantastic!

Pros

Wave has absolutely changed my business for the better. It used to take me about 2 hours a month to do my invoicing, which I hated doing, and so I avoided it. Now, I handle monthly invoicing in about 15 minutes. Plus, as new clients come in or one-off projects are completed, I can send the invoices quickly—like 5 minutes. So ease of use is absolutely the first thing I love about Wave. Second, as a small business owner, I am in charge of acquiring new clients, executing the work, invoicing for the work, and then acting as collections when clients are late in paying. With Wave, I check a simple box that sends reminders to the client when things are past due. What a relief! It's coming from "my accounting department" rather than me. Hallelujah! Third, the payment process is so easy for my clients! They can pay any way they want—check, credit card, bank, whatever. It's so easy for them, and I have had zero complaints. It's also fantastic to know when clients have (or haven't) viewed the invoice. And getting the emails from Wave announcing that I've been paid are the best emails of the day. The fact that all of this amazingness is free? That's just the icing on the cake. Thank you, Wave!

Cons

My only issue with Wave is probably a rare use-case. I manage invoicing for a client of mine. (Side note: Wave made it SO EASY for me to be an admin of her account but not the manager, and I can log into my account to access hers. It is AWESOME!) She sells programs, and her clients generally pay in one invoice. Occasionally, her clients need to pay in installments. It was not easy to set up a recurring invoice for only three months to send to the client, especially without a credit card on file. I had to create three different invoices, and label them as Installment #1, #2, etc. However, I recognize that this is probably a one-off user scenario that not many people would need. And I can't complain when the tool is free, and I found a workaround.

Reasons for Choosing Wave

Honestly, it seemed ridiculous to pay a monthly fee and such high service charges with ProCharge. I'm not big enough nor do I send enough invoices to justify the cost. For Invoicely, the free plan accepts PayPal payments only, so this would be difficult for many of my clients that are businesses and don't use a PayPal account. And there's no branding available. Wave just offers a perfect solution for small businesses that's free while still being robust. I love it!

September 2019

Felix from PricewaterhouseCoopers

Verified Reviewer

Company Size: 5,001-10,000 employees

Industry: Accounting

Time Used: Less than 12 months

Review Source: Capterra


Ease-of-use

4.0

Value for money

5.0

Customer support

5.0

Functionality

4.0

September 2019

A Solid Free Small Business Accounting Software

It’s been a solid piece of cloud accounting software, albeit limited. It’s hard to beat the price of it, and I have yet to find a similar but more fully featured one at the price of FREE!

Pros

I use Wave to keep track of my personal finances, from income to spending. In that lens, Wave performs quite well, allowing you to tag transactions that are automatically imported from your bank. It also lets you generate some simple reports such as your income statement, balance sheet, and cash flow. The interface is simple to use and understand, and I was able to pick it up (coming from an accounting background) in under a few minutes, without having gone through a walkthrough. The included ability to reconcile statements is also quite handy and allows me to verify that all transactions are posted appropriately. The inclusion of receipt tracking and tagging is also quite handy! The best part about Wave is the price! If you don’t need features such as invoicing and payroll (some SMB’s may find these handy. From a personal perspective, I did not), the accounting software is completely free.

Cons

Wave still appears to be in its infancy, although the product has been there for a while. The user interface will frequently be updated (the reconciliation flow changed 3 times since I signed up about 6 months ago), and new features will constantly be added without any notification, often shifting often things around from where you expect them to be. The reports from Wave are also very limited, so don’t expect any customizable reports as of 08/2019. You get about 12 reports total, some or all of which may not be very relevant to you, depending on your end goal. These reports are completely canned, system generated, and you do not have the ability to create new reports. This may change in the future, but as it stands, this is the current state of affairs. The receipt tracking feature is definitely handy to have. While Wave will OCR your receipts and tag them to a category, it will actually post an entire transaction to the ledger when you save it down. For those of us with a bank account and credit card linked to auto import transactions, you’ll get a duplicate: one from the CC, and one from the receipt. It would be nice if Wave included some intelligence to automatically match the receipt and transaction together, but for now, you need to manually merge each. Finally, as a small point, Wave does not obtain any service assurance through SOC1 or SOC2 reports, an issue that most people wouldn’t ever care about.

Reasons for Choosing Wave

I mostly chose Wave over Xero for the price. As I’m using this for personal finance tracking, and not a small business, I didn’t want to have to pay Xero’s rather pricy monthly subscription.

August 2020

Brooke from Digital Entity Design

Company Size: 1 employee

Industry: Design

Time Used: More than 2 years

Review Source: Capterra


Ease-of-use

5.0

Value for money

5.0

Customer support

4.0

Functionality

5.0

August 2020

LOVE LOVE LOVE

Wave no longer integrates with CapitalOne Spark Business Checking & Savings. CapitalOne is going through some changes so I don't blame Wave too much but manually uploading bank statements every month is a hassle. Though I love Spark, I'm hopefully that Wave's banking that is coming soon will be a good future solution. I love Wave for everything else. It's the most rounded and affordable solution for my small business finances.

Pros

It's everything I need in one place. As a small business, Wave is the best solution for me. I can invoice my clients for free, and easily keep my finances up-to-date making tax season worry free.

Cons

Wave no longer integrates with CapitalOne Spark Business accounts, so I have to manually upload two bank statements every month into Wave; One for my checking and one for my savings account, both of which are Spark.

February 2020

Luke from Out of Darts

Company Size: 2-10 employees

Industry: Retail

Time Used: More than 2 years

Review Source: Capterra


Ease-of-use

2.0

Value for money

3.0

Customer support

2.0

Functionality

2.0

February 2020

A data-import nightmare - Stay away unless you love lost transactions

Support has been poor quality. As a paying customer of both their payroll service (which is solid) and their accounting coaching, I'm tremendously disappointed with the platform.

Pros

The software at it's core is very easy to use. The reliability is however a complete failure.

Cons

Throughout the past 3 years, Wave has been a game of 'make sure my bank works.' First, I closed incompatible credit card accounts in order to open accounts that were listed as compatible. A year later, Wave lost the connection with all of capital one due to an issue with switching data providers (from Plaid). Next, Chase bank cards also disappeared. When finally reconnecting, weeks worth of transactions were intermittently missing. For a software company who's core goal is to reduce manual data entry, this platform is a nightmare. Stay away.

July 2020

Angie from 31Four, Inc.

Company Size: 2-10 employees

Industry: Retail

Time Used: Less than 2 years

Review Source: Capterra


Ease-of-use

5.0

Value for money

5.0

Customer support

5.0

Functionality

5.0

July 2020

Excellent alternative to QuickBooks

I've had a very positive experience with Wave. As mentioned, I have used their paid and their free offerings and feel both are an excellent value. I think Wave offers a great way to save on a monthly subscription fee. Their customer service has been very helpful when I've had questions.

Pros

I use Wave for bookkeeping for our retail business as well as for consulting projects. It's easy to set up and is intuitive to use. Transactions are automatically imported and can be easily categorized. I also use Wave for our payroll (which is a paid service) - this was also easy to set up and Wave can manage sending in your employer taxes. Since I do not have a background in accounting, I also paid for a one-time session with a Wave accountant - this session was extremely helpful in ensuring I had my books set up correctly as we walked through my books in real-time and were able to identify necessary changes. I have never used another bookkeeping software, but I find that Wave meets all of our daily needs.

Cons

Because I use Wave for two different arms of my business, I do wish you could automatically move them between the businesses. Instead, you have to manually enter charges. For example, if I have a charge auto-import from my business card I have to create a few transactions to get them assigned to the correct business because I want P&L tracked separately.

Reasons for Choosing Wave

Wave is free and I feel it offers all the features a small business needs.