User Reviews Overview

About 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...

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Feature ratings

Value for Money
4.7
Features
4.2
Ease of Use
4.5
Customer Support
4.1

Browse Wave Accounting Reviews

1,372 of 1,372 reviews
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Josh
  • Industry: Design
  • Company size: Self Employed
  • Used Daily for 2+ years
  • Review Source
Value for Money
5
Features
5
Ease of Use
4
Customer Support
N/A

5
Reviewed on 05/08/2021

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.

Alternatives Considered

Quickbooks Online

Reasons for Switching to 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.
Brittany
  • Industry: Arts & Crafts
  • Company size: 2-10 Employees
  • Used Weekly for 2+ years
  • Review Source
Value for Money
N/A
Features
4
Ease of Use
5
Customer Support
N/A

5
Reviewed on 29/12/2022

Great for small business

Overall a very successful product -- and I can't believe it is free! It has been critical in tracking our expenses and sending invoices to clients.

Pros

We love to use this software as part of our small business. It makes sending invoices and receiving payments very easy, plus the invoices sent to customers are beautiful and professional looking.

Cons

We use the receipt tracking feature quite a bit for end of year deductions. The process used to be much easier with the app which was discontinued. Now it is a much more manual process to upload receipts.

Alternatives Considered

Quickbooks Online

Reasons for Switching to Wave Accounting

It was a free product! We have been very happy with it.
Christopher
  • Industry: Medical Practice
  • Company size: Self Employed
  • Used Monthly for 2+ years
  • Review Source
Value for Money
3
Features
3
Ease of Use
2
Customer Support
1

1
Reviewed on 31/01/2023

Big let down with NO FIX and NO CUSTOMER SERVICE. Just a bot!

NOw it SUCKS!

Pros

It used to recognize and self assign repeat payments by category. Not anymore, even though they were the same payment to the same name for many months!

Cons

It started this year combining both my personal and business accounts for NO REASON!

Top Wave Accounting Alternatives

Jamie
  • Industry: Marketing & Advertising
  • Company size: 2-10 Employees
  • Used Daily for 2+ years
  • Review Source
Value for Money
5
Features
5
Ease of Use
5
Customer Support
N/A

4
Reviewed on 08/12/2022

Everything a small business needs for invoicing

I love Wave. I switched from Freshbooks years ago and it was such a good move. Wave is so easy to use which means you save time and money.

Pros

Wave is super simple to use. It's well laid out, intuitive and easy to use. I've been using Wave for years after switching from Freshbooks.

Cons

Occasionally, Wave has issues sending invoices to Gmail addresses. This is very surprising given how prevalent Gmail is and I would hope they'd sort this out.

Alternatives Considered

FreshBooks and Quickbooks Online

Reasons for Choosing Wave Accounting

One of my customers turned me onto Wave. I wasn't necessarily looking to switch, but after checking them out it was an easy decision to make.

Switched From

FreshBooks
Sam
  • Industry: Food & Beverages
  • Company size: 11-50 Employees
  • Used Daily for 6-12 months
  • Review Source
Value for Money
5
Features
5
Ease of Use
5
Customer Support
5

5
Reviewed on 02/02/2023

Perfect for Small Business Bookkeeping

Very user friendly and compatible with small business needs.

Pros

So easy to set up and use. Connects to bank. Easy to reconcile.

Cons

I do not have any complaints. I have not figured out how to enter an expenditure to match up with bank feed. Other than that, it's awesome.

Elisa
  • Industry: Marketing & Advertising
  • Company size: 2-10 Employees
  • Used Weekly for 1+ year
  • Review Source
Value for Money
5
Features
5
Ease of Use
5
Customer Support
N/A

5
Reviewed on 22/12/2022

Fantastic software that will save you time and money - and look good

Pros

Basically, it's all in my title. Wave is super simple to use, makes me look professional, and helps keep me organized. I'd recommend it any day of the week!

Cons

No real cons, it's a great product. One con could be the limited support on the free plan but I've never needed support so hasn't been an issue for me.

Alternatives Considered

Xero

Reasons for Switching to Wave Accounting

I chose Wave because of the good reviews I had read about it from previous users.
Timerah
  • Industry: Computer & Network Security
  • Company size: 11-50 Employees
  • Used Daily for 2+ years
  • Review Source
Value for Money
5
Features
5
Ease of Use
5
Customer Support
5

5
Reviewed on 27/12/2022

Wave Accounting helps us business accounting needs.

An amazing software that saved our company time and money.

Pros

The flexibility of being able to do invoice and quotes from anywhere

Cons

Online it sometimes lags depending on your internet speed.

Alternatives Considered

Zoho Desk

Reasons for Choosing Wave Accounting

Quickbooks had very little support

Switched From

Quickbooks Online

Reasons for Switching to Wave Accounting

It was inexpensive and very easy to use.
Muhammad
  • Industry: Accounting
  • Company size: 51-200 Employees
  • Used Daily for 1+ year
  • Review Source
Value for Money
5
Features
5
Ease of Use
4
Customer Support
4

5
Reviewed on 04/01/2023

Wave Accounting

My overall experience about this accounting software is that after using wave accounting software I've observed many positive points regarding accounting general journal, general ledger, trial balance, posting into balance sheet, income statement, adjusting entries and closing entries.

Pros

After using wave accounting software I've observed many positive points regarding accounting general journal, general ledger, trial balance, posting into balance sheet, income statement, adjusting entries and closing entries.

Cons

As such I haven't found any major flaw in this accounting software yet but maybe there is a possibility and a probability to be faced in the future.

Alternatives Considered

TallyPrime
Mohamed
  • Industry: Food & Beverages
  • Company size: 51-200 Employees
  • Used Weekly for 2+ years
  • Review Source
Value for Money
4
Features
4
Ease of Use
4
Customer Support
4

4
Reviewed on 16/01/2023

Wave Accounting is good program

I have been using Wave Accounting for a few months now and I love it! I thought it would be really hard to get used to but I actually find it to be very user-friendly. The customer service is also excellent. Anytime I have an issue, they are quick to respond and resolve my problem.I would definitely recommend this program to anyone that needs a good accounting software program.

Pros

The first is the cost. You can use Wave for free, but it is a limited version of the software, and you have to pay to upgrade. The paid version is $10 per month, which is good value for money if you need a basic accounting solution.The second pro is that Wave supports multiple users and "teams" within your business. This means that you can share accounts with other employees without giving them access to your bank accounts or credit cards.

Cons

If you're using a team account and someone leaves the company then they will still have access to all of your financial data until they close their account with Wave. This could be problematic if they decide not to close their account without telling anyone else in your team first (and they could potentially do this without needing any sort of password)

Melanie
  • Industry: Professional Training & Coaching
  • Company size: Self Employed
  • Used Weekly for 2+ years
  • Review Source
Value for Money
5
Features
5
Ease of Use
5
Customer Support
5

5
Reviewed on 13/01/2023

Makes my life easier

Overall a fantastic experience and the software makes my business life easier.

Pros

I love Wave. It makes custom invoices very easy. They are easy to send, easy to create and it is easy to get paid online. Accounting reports are easy to create and easy to understand.

Cons

I used to have bank accounts and credit card accounts linked so they would automatically sync. Due to constantly changing security settings, I now have to manually export and then import the data. It all still works, but not as seamlessly as it used to.

Cheikh
  • Industry: Computer Software
  • Company size: Self Employed
  • Used Daily for 6-12 months
  • Review Source
Value for Money
5
Features
5
Ease of Use
5
Customer Support
4

5
Reviewed on 12/01/2021

Good accounting software

The speed with which the credit cards were processed automatically saved me a lot of time.

Pros

This is a very complete software that allows you to build quotes and convert them into invoices in a fraction of a second without much effort.

Wave is excellent especially when it comes to credit card processing which is done automatically with a very low 1% fee.

It is very easy to set up and use and the cost is low or even free. Personally, I recommend buying this package because it comes with support: from setting up your account to the specific categories for your company .

The other advantage of Wave is the presence of a number of applications to send invoices when you are away from your workplace.

So even when you're away from home you can download them. In this case, all you have to do is take the photo on the spot.

Cons

The problem on the Wave software is not so numerous, but we notice that it is impossible to close a period correctly.

All members who are able to make transactions have the possibility to change or add entries from the previous year.

For me an administrator must have the ability to close a period so that no changes are made. User growth is also very limited.

The lack of audit trails for transaction entries is also a case of imperfection at Wave . Admittedly, it is possible to generate transactions, then generate reports, then cancel the transactions, etc.

But there is no proof that these changes are made yes or no, because the software is unable to remember its categorizations.

The keyword search function is absent from Wave in the transactions section and sometimes it makes us lose a lot of time.

Alternatives Considered

Zoho Books

Reasons for Choosing Wave Accounting

To test another software

Switched From

Quickbooks Online

Reasons for Switching to Wave Accounting

Because Wave is free and easy to use accounting software
Laura
  • Industry: Photography
  • Company size: Self Employed
  • Used Weekly for 2+ years
  • Review Source
Value for Money
5
Features
5
Ease of Use
5
Customer Support
1

5
Reviewed on 14/05/2022

Best accounting software to grow as a small business

The overall experience with Wave has been very good. With some hiccups on the roadmap, Wave has evolved by leaps and bounds from a pretty basic software to quite a powerhouse, even for the free version. If my business grows and I will feel the need to add more features such as payroll and tax advisor use, I will still remain a Wave believer!

Pros

I've used Wave since 2009!!! I feel like my company grew with it. It's helped me understand all I was doing right (and wrong!) financially in my business. It helps tremendously when filing monthly sales taxes. I keep a habit of staying organized, verifying all transactions and reconciling with my bank accounts. All of this, plus categorizing everything the right way makes tax time an absolute breeze - my taxes are done in two days and I don't need to freak out about it because everything is organized ahead of time and all I do is input expenses and sales.

Cons

What I least like about Wave is that a few years ago they stopped support for free accounts. Absolutely no human support whatsoever. Disagree with that big time!!!
Sometimes also a bank connection will be interrupted and you cannot reconnect for many many months and since there is no support, you are left without any help.
I am a small business of one person and I do not need any of the paid features that Wave offers so I could be upgraded to paid support, so I am always stuck in no human support land. It doesn't feel good, especially to someone who has used this software for as long as I have.

Alternatives Considered

FreshBooks

Reasons for Choosing Wave Accounting

Absolutely hated QuickBooks. It felt overwhelming, like I needed to go to school to learn yet another piece of software. Absolutely could not get used to the awful interface and I ditched it immediately, although I paid a few hundred dollars for a desktop version that was rendered obsolete by Intuit after 3 years. Apparently, that is quite a frequent practice from Intuit regarding QuickBooks.

Switched From

QuickBooks Desktop Pro

Reasons for Switching to Wave Accounting

Interface, ease of use and pricing - FREE!
Michael
  • Industry: Music
  • Company size: Self Employed
  • Used Daily for 1+ year
  • Review Source
Value for Money
5
Features
4
Ease of Use
4
Customer Support
3

4
Reviewed on 20/11/2020

Wave Was/Is My Go To From QB Online

My overall experience has been great! I have to do some thinking/remembering at tax time to separate the double entries of income. I show an invoice paid by check WAVE shows that income on my account. I go to the bank and deposit, there is that check again. For the total amount of money saved, around $450-500, I will put up with it.

Pros

It is FREE in the cloud, works on ALL platforms Windows 7,10, Android, iphones. Accepts all credit cards including Amex for 2.9% I am saving $420+ yearly by not having QB, I don't have to print invoices. Since WAVE is in the cloud I email my invoices and receipts.

Cons

I wish it had more storage of customer service that has been performed in the past but I suspect that would require some expense. It only had 3 invoice templates and there wasn't much customization on those. You can't compound taxes on your invoices, let me rephrase, you can compound 1 tax but no more. Since my only taxes are State and County I found it best to compound none for fear of forgetting which one I had compounded

Alternatives Considered

NolaPro

Reasons for Choosing Wave Accounting

Quickbooks Online wasn't as good as the desktop version but as long as Windows 10 is still under construction I won't chance having another desktop version made unusable due to another Windows 10 "update". I don't need to be concerned about it anymore now that I have WAVE!

Switched From

Quickbooks Online

Reasons for Switching to Wave Accounting

Wave had a more complete suite of the tools I needed that were familiar to me from my experience with Quickbooks
Jonathan
  • Industry: Marketing & Advertising
  • Company size: 11-50 Employees
  • Used Daily for 2+ years
  • Review Source
Value for Money
5
Features
5
Ease of Use
5
Customer Support
3

5
Reviewed on 11/08/2022

It’s free, but better than any paid accounting software.

We’ve been using wave since beta. We tried Quickbooks and a few other accounting platforms after a consultant suggested we review other platforms. Ultimately, we never left wave and will not in the foreseeable future.

Pros

Wave is free, but it’s powerful. Wave is suitable for any small to medium business. Wave handles all our accounting needs.

Cons

Wave has two major areas of improvement. 1. Their customer service is difficult, especially if you have an urgent matter. Their chargeback dispute process is not easy and confusing. Again, customer support regarding chargebacks is difficult considering you have a few days to submit a dispute package.

Alternatives Considered

Quickbooks Online

Reasons for Choosing Wave Accounting

At first it was because Wave is free. But then we discovered how powerful Wave is, it’s perfect for our business.

Switched From

QuickBooks Desktop Pro

Reasons for Switching to Wave Accounting

It was free.
Verified Reviewer
  • Industry: Management Consulting
  • Company size: Self Employed
  • Used Daily for 6-12 months
  • Review Source
Value for Money
5
Features
4
Ease of Use
5
Customer Support
5

5
Reviewed on 03/12/2019

Wonderful accounting software for starting and growing a service business

I haven't gone through a tax season with my business yet, but I have been an independent consultant and I anticipate having everything tracked in Wave is going to help me out a lot come April. It's so easy to use and I can focus on my core business rather than spending a lot of time on admin.

Pros

Wave helps me do so much. I can issue invoices, track them (I.e. I can see when a client has viewed it!), and allow clients to make payments directly through the invoice. I can also customize my invoice, which is great. I could do all of this from day 1. I'm a solopreneur and launched my business this summer. I was able to issue professional invoices from day 1 and track my expenses using their receipts app. The other thing I love about Wave is that they are very interested in feedback from their customers. I've had a few interactions with them and it's always been really pleasant. It's also free which helps me out a lot. I do use the credit card payments, which has a fee like any other service would.

Cons

Their mobile app could use some work, and I've given them this feedback. The receipts app is great to take pictures really quickly, but I generally have to use the browser to do anything else.

Alternatives Considered

FreshBooks and Quickbooks Online

Reasons for Choosing Wave Accounting

I needed something professional and long term.

Switched From

Microsoft Excel

Reasons for Switching to Wave Accounting

The core software was pricey and I could have easily used Word and Excel and if I wanted a 'free' option. I also didn't need all the bells and whistles, so paying so much for this service didn't make sense for me.
Suzanne
  • Industry: Photography
  • Company size: Self Employed
  • Used Daily for 2+ years
  • Review Source
Value for Money
3
Features
3
Ease of Use
2
Customer Support
3

4
Reviewed on 24/01/2020

Wave error messed up my entire system and they want to charge me $3000 to fix it

It was good while it lasted, before their system made my data unusable. They really tried to be helpful, I chatted with several friendly people online, all of whom were unable to resolve my issues. They were unable to refer me to a WaveApps specialist in my area. Ultimately their solution was to offer me one of their bookkeepers at a cost of $3000 to fix the problem they created. No thanks.

Pros

It was wonderfully easy to use, the invoices looked professional and payment processing features were handy.

Cons

TLDR: Major syncing, reconciling and support issues

Two of my accounts synced twice (so I had four accounts in Wave where there should have been two) and they were unable to fix this. Their suggested fixes did not work. They have chat and email support but no phone support and even though they logged in as an admin they were unable to fix this problem.
A recent update to their system caused my entire past four years of records to be unreconciled, and the only fix was to go back to the beginning of time and compare each transaction ever made.
They offered me a bookkeeper to do this for me for $269/month for a minimum of 12 months, despite my being very diligent about keeping my account up to date for the past four years.

I have switched to another system now.

Alternatives Considered

QuickBooks Payroll, FreshBooks and Mint

Reasons for Choosing Wave Accounting

I wanted to be able to send invoices and have everything be tracked automatically.

Switched From

Microsoft Excel

Reasons for Switching to Wave Accounting

Essentially an acquaintance was using waveapps and it looked like it would be great.
James
  • Industry: Research
  • Company size: Self Employed
  • Used Weekly for 2+ years
  • Review Source
Value for Money
5
Features
5
Ease of Use
5
Customer Support
4

5
Reviewed on 01/03/2021

Best FREE Accounting and Invoicing App for Small businesses/Freelancers

WAVE is the best inexpensive mobile and cloud accounting software out there. I doubt if there is any accounting and invoicing software that can provide all of WAVE's features for free!

Pros

I use Wave Mobile App for my business' finance, for managing my income and expenses. I use wave for billing and creating invoices for my clients. After using Wave for over 2 years now, I can say it works quite well. It allows me to create client contacts, which the app automatically uses to create client record books. The interface is simple and easy to get along with. The fingerprint unlock integration is one of my best features because I am able to sign in to the app without trying hard to remember passwords or pins. Above all, I think the best thing about Wave is, you get most of the relevant features needed for FREE!

Cons

There are few hitches I encounter using wave. I am not able to write off a partly paid bill as bad debt if all attempts to reclaim the payment from my clients fail. Sometimes, people pay about 70% and fail to pay for the rest. In order to close the invoice, I will have to mark it as completely paid and doing that can overstate or affect my financial records and reports within Wave.

Jennifer
  • Industry: E-Learning
  • Company size: Self Employed
  • Used Weekly for 2+ years
  • Review Source
Value for Money
5
Features
5
Ease of Use
4
Customer Support
5

5
Reviewed on 09/06/2021

Free invoicing, billing, and accounting software with paid upgrade features

I like that I can do my own bookkeeping and light accounting and this keeps me relatively sane come tax time. I highly recommend Wave to anyone who's willing to learn at least a bit about accounting! With Wave Payments and Wave Payroll, the software works well for self-employed folks just getting started and will grow with them as they add to their team.

Pros

The cost is compelling -- free! -- but beyond that I find the software is advanced enough to do what I need without being utterly overwhelming like other options. I'm not accountant and there's only so much geeking out I want to do. I can send invoices, get paid, track all my expenses and payments, handle business AND personal finances from the same account, and it all works really well with my bank and integrates decently with Stripe via Zapier.

Cons

I'd love Wave Payments to allow for payments in more than one currency. I can invoice in USD and CAD (my main), but I can only accept online payments via Wave in CAD. No biggie.

Rowan
  • Industry: Construction
  • Company size: Self Employed
  • Used Daily for 6-12 months
  • Review Source
Value for Money
5
Features
4
Ease of Use
5
Customer Support
3

4
Reviewed on 23/07/2021

Solid free platform for small business

I am really impressed for a free offering. Everything looks and feels professional and I'm able to focus on running my business and not learning accounting.

Pros

Having a system that connects to your bank and imports all the transactions for you is a game changer. This is almost as simple as using something like Mint to manage your personal budget. Once the transactions are imported, they definitely lead you down the path to success even if you know nothing about accounting.

Cons

The lack of accounting/reporting for individual projects is a massive omission. I don't think they need a full blown project system, but just some way to tag transactions so that you know the expenses and income for a given project.

I also found the sales tax feature a little simplistic. Here in Washington state we have really small tax zones (customers less than a mile apart can be in different zones) and I have to track the sales tax collected/paid per zone. I was able to do this, but it feels very clunky as the system seems to be designed for a just a handful of different sales taxes.

Alternatives Considered

Quickbooks Online

Reasons for Switching to Wave Accounting

Price. I don't mind paying for things when it makes my life easier. But Wave is a really great product and I don't see any need to pay for something.
Angie
  • Industry: Retail
  • Company size: 2-10 Employees
  • Used Weekly for 1+ year
  • Review Source
Value for Money
5
Features
5
Ease of Use
5
Customer Support
5

5
Reviewed on 24/07/2020

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.

Alternatives Considered

Quickbooks Online

Reasons for Switching to Wave Accounting

Wave is free and I feel it offers all the features a small business needs.
Arthur
  • Industry: Transportation/Trucking/Railroad
  • Company size: 51-200 Employees
  • Used Daily for 2+ years
  • Review Source
Value for Money
5
Features
4
Ease of Use
5
Customer Support
5

5
Reviewed on 15/08/2022

Wave Accounting Review

An overall exceptional experience using Wave for my accounting needs. The only drawback is the automated banking transaction allocation as well as payroll management are not available in my country.

Pros

The basic version of the software is free and includes many features not found in paid versions. You don't need to purchase expensive add-ons to make it work for accounting, bookkeeping, or invoicing. Wave offers additional services that will help you improve your skills within the program.

Wave automatically syncs your accounting and invoicing, making it a great choice for small businesses that want to consolidate and automate their bookkeeping and billing. Wave's invoicing capabilities are unlimited and completely free. Wave's invoicing features are also customizable and easy to use.

Wave allows you to create customer profiles and send follow-up emails. You can also receive reminders and receipts for payment. Wave also offers a mobile app that lets you track and send invoices.

Wave accounting has an intuitive interface that is simple to use. Wave accounting is different from other accounting software. Wave accounting is easy to use and requires no prior knowledge. It is easy to use, and you can learn quickly as you go.

Cons

Wave's accounting software can be used for free. It's a great choice if you have a small business or don't need more advanced features. Wave's functionality is limited for businesses looking to grow. Wave does not provide multiple plans to increase its functionality, which limits its scalability.

It offers limited customer service. Wave Accounting offers only self-service customer support. Wave Accounting offers only one-on-one support to Accounting customers through Wave's paid Accounting Coach option.

Chris
  • Industry: Consumer Goods
  • Company size: Self Employed
  • Used Daily for 2+ years
  • Review Source
Value for Money
5
Features
4
Ease of Use
5
Customer Support
N/A

4
Reviewed on 03/11/2018

Great alternative to Quickbooks for small biz users

I have two small e-commerce business, and needed a way to track my inventory purchases, sales, shipping expenses, etc. I also had two independent contractor businesses, needing to track expenses such as mileage, supplies, etc. With Wave, I have each venture as a separate company, I can customize the chart of accounts for each one, create invoices for my independent contractor gigs, track invoice status so I don't overlook if something doesn't get paid on time, and review my income and expenses each month. I sometimes do consignment sales for clients in my e-commerce business, and Wave helps me keep track of those sales and settle up with clients each month. Truly a lot of great features offered, and I don't even use all of them (like Banking & Payroll). So glad I found Wave, and I have recommended it to many others.

Pros

Wave offers a lot of the basic accounting functions needed for small business users, and the best part is that it's FREE TO USE! Woo hoo! I used QuickBooks in my previous career, and liked the detail it provided, but once I started my own small e-commerce business, I didn't want to spend hundreds of dollars on software, or get locked into a recurring monthly subscription. I was thrilled to find Wave and amazed that it was FREE!

Cons

I wish there was a keyword search function in the Transactions section. Sometimes I need to look for a specific transaction but don't remember the exact date it occurred, so have to scroll through several pages to find what I'm seeking. A workaround is to export an Income Statement, then search or sort in Excel, but obviously that takes several extra steps and time. But since it's not costing me anything, this is a minor inconvenience.

Verified Reviewer
  • Industry: Marketing & Advertising
  • Company size: 2-10 Employees
  • Used Daily for 6-12 months
  • Review Source
Value for Money
5
Features
4
Ease of Use
5
Customer Support
4

4
Reviewed on 10/03/2021

Intuitive to use, great features and integrations, yet not for everyone

Wave was a joy to use, and it's free unless you need payroll! This is an excellent option for small businesses and contractors to get accounting / invoicing services very inexpensively, however note there are caveats that make Wave unattractive to some.

Pros

The Wave interface is very intuitive to use, and there was no intimidation when dealing with complicated matters like invoicing or expense tracking. Out of the accounting services we tested, Wave had the best user interface. Additionally, the integrations with Zapier and PieSync are excellent.

Cons

Bank reconciliation is known to be inaccurate with Wave, with many reports that data doesn't sync with the bank for months at a time. This is likely due to the banks breaking the connection with Wave's 3rd party service (Plaid) on a regular basis, but ultimately this is out of Wave's control.

Alternatives Considered

Quickbooks Online and Xero

Switched From

Fiverr Workspace
Verified Reviewer
  • Used Daily for 2+ years
  • Review Source
Value for Money
5
Features
4
Ease of Use
5
Customer Support
4

5
Reviewed on 20/11/2017

Easy to use and helpful

Easy, almost fully automated bookkeeping. The invoicing and payment features automatically updates my books when I get paid, the bank connection means that I only have to reconcile my account to make sure everything is ok.

Pros

This is great for the very new or very small business. It's easy to use and has all of the basic features that you will need for an unbeatable price.

It's very easy to use and the documentation and support have been very helpful. There is no phone option but live chat is available and I have never had to wait more than a day for an e-mail response.

It is truly free to use for accounting. You have the options of accepting credit card and bank payments for a very competitive rate. The only other cost is for payroll if you were to use that feature.

The software is in active development and since I started using it they have added great features such as Invoicing app, recurring payments, and bank payments and it keeps getting better.

Cons

Limited reporting, you get all of the basics that you will need to measure your financial health, receivables, etc but there are no custom reports. While you can very easily reconcile your bank account, you can't print a reconciliation report.

There is no class/job tracking feature and while it looks like many users have requested it, it doesn't look like the developers are planning on implementing it anytime soon. So if your business needs this feature, this is not the right option for you.

Verified Reviewer
  • Industry: Management Consulting
  • Company size: 2-10 Employees
  • Used Daily for 2+ years
  • Review Source
Value for Money
5
Features
5
Ease of Use
5
Customer Support
5

5
Reviewed on 04/11/2021

Wave Accounting is a full-featured online bookkeeping web app.

Overall, Wave Accounting is an incredible, full-featured web-app and a free account is more than adequate for most small businesses. Upgrades would include payroll and some other things we don't use. We recommend it quite often to other small business owners.

Pros

Wave Accounting is very easy to set up and understand, although we do not use all of the features available. We use Wave to track the day-to-day activity of our business, and then forward the information to our bookkeeper for further tracking.

Cons

I would certainly suggest a few things. 1) Allow various levels of customer contacts: we are able to list a primary contact for each of our clients, but that person is not necessarily the person in charge of paying the bill. When sending through Wave, I can add in additional emails, but the software won't remember them; they need to be added in each time. 2) Emailed invoices go to the clients' SPAM folder quite often, even if they add in the Wave email as a safe sender. It would be nice to be able to add in SMTP server info so that emailed invoices would appear to come from our professional email. 3) There should be a way to VOID invoices where mistakes are made (duplicate invoices, cancelled jobs, etc.); at the moment, you would need to delete the invoice, but then it no longer exists which doesn't seem like a valid way of doing things.

1,372 reviews