Wave Accounting Reviews & Ratings

4.5/5

“Awesome Free Accounting Software for Small Businesses”

Wave offers fantastic flexibility and affordability for small business accounting. It’s easy to use, and I only pay for specific payment features.

Pros : It’s free for small businesses needing solid accounting software. You can accept ACH and credit card payments with reasonable fees. The reports are straightforward for taxes. Perfect for solo entrepreneurs or freelancers.

Cons : Recurring billing can be annoying. It doesn’t use a sequence for contract names, so I have to manually change names and send invoices.

Reason to switch : I love it because it works so well for me. No reason to look elsewhere.

4.5/5

“Perfect and Free Software, Right Fit for Small Businesses”

Wave is a great free option for small service-based businesses needing basic accounting and invoicing tools.

Pros : Wave cloud-based and free. It allows customizable invoicing and reports.

Cons : It doesn’t handle order costing or inventory.

Reason to switch : Wave’s free cost and lack of need for inventory tracking made it the perfect choice.

4.3/5

“Accounting Without a Cost”

Wave is an excellent free accounting tool that’s easy to use and perfect for small businesses. It handles all basic functions and can be accessed from anywhere.

Pros : Wave is free and perfect for small businesses needing to minimize overhead costs. It includes basic functions like quotes, invoicing, statements, bills, receipts, and bank reconciliation. It’s user-friendly. The cloud-based system is accessible from anywhere.

Cons : The reporting could be more customizable. The current reports it provides are basic and don’t cover all my needs.

Reason to switch : Wave’s pricing and cloud-based storage were appealing. The easy setup was completed in a day.

4.2/5

“Wave: Best for Small Business Finances”

Wave is the most affordable and complete solution for small business finances. Invoicing, tracking expenses, and managing taxes are all easy with Wave. I’m looking forward to their upcoming banking features.

Pros : Wave has everything I need in one place. As a small business owner, it’s perfect. I can invoice clients for free and keep my finances up-to-date, making tax season stress-free. It’s affordable and comprehensive.

Cons : Wave no longer integrates with CapitalOne Spark Business accounts, so I manually upload two bank statements each month. It’s a bit of a hassle.

Switched from : QuickBooks

Reason to switch : QuickBooks was too expensive and complicated. Wave is a lifesaver!

4.2/5

“Allows to create and send invoices easily”

Wave is cost-effective for invoicing and payments, ideal for small businesses with multiple subsidiaries.

Pros : Wave has fulfilled our needs for an affordable solution for our two subsidiaries. It makes billing and invoices easy.

Cons : It only allows to view reports and can’t download reports or combine them. Planning for cash flow is difficult.

Switched from : Easy Accountax GST

Reason to switch : Wave allows for draft invoice reviews, scheduled invoices, credit card payments, and overdue invoice tracking. Bank and credit card account reconciliation is a great feature.

4.1/5

“Wave Accounting: For Small Business”

Wave is great for personal finance tracking and basic business accounting. It’s free and easy to use, though it has limited features and frequent updates.

Pros : Wave helps me track my own personal finances, from spending to income It tags transactions imported from my bank and generates simple reports like income statements, balance sheets, and cash flow statements. It offers a user-friendly interface and quick to learn. The reconciliation feature is handy for verifying transactions, and receipt tracking is a plus! Best of all, Wave is free if you don't need payroll.

Cons : Wave feels like it's still developing. The interface changes often, new features are added without notice, and reports are limited and not customizable. The receipt tracking can cause duplicate transactions if your bank account is linked, and you have to merge them manually.

Reason to switch : I chose Wave due to the price. For personal finance tracking, I didn’t want to pay Xero’s high monthly subscription.

4.1/5

“Provides Fast, Efficient Invoicing”

Wave simplifies invoicing for independent contractors and small businesses, though some features may be more suited for larger businesses.

Pros : Wave has streamlined my invoicing for independent contract work.

Cons : Wave offers many advanced features that I don’t need, but they would be useful for larger businesses.

Switched from : Freshbooks

Reason to switch : I needed a quick and easy accounting software.

4/5

“I Just Love Wave for its accounting capabilities”

Wave simplifies managing finances with an easy setup, report generation, and financial tracking. It’s affordable and user-friendly.

Pros : I've been using Wave more than 8 years and it has been a game-changer for me. My bookkeeping was a mess when I first started, but Wave’s services were affordable and easy to set up. Running reports and keeping track of my financials is a breeze now. I tried QuickBooks for a month, hated it, and quickly switched back to Wave. Lesson learned—I'm sticking with Wave!

Cons : When an invoice is paid, I would mark it paid, but then the payment would show up again through the bank feed.

Switched from : QuickBooks

Reason to switch : I chose Wave because a family member recommended it, and it was so easy to set up and get started. I recommend Wave to anyone looking for a budget-friendly way to manage their business finances.

4/5

“Lack of Customer Support”

Wave is easy to set up but falls short for full-time employee payroll needs. Customer support is lacking and unhelpful.

Pros : Setting up Wave was straightforward and initially easy to understand.

Cons : The payroll options are very limited, and there’s no solution for unpaid vacation days. Customer support is virtually non-existent, with long wait times and unhelpful responses. The system doesn't improve over time, and instructions often don’t match the actual website.

Reason to switch : Price and perceived ease of use. Now that the price has gone up to match competitors but without improved features, switching was a mistake.

3.8/5

“Reliable, Perfect Fit for Businesses Looking for a Budget Friendly Solution”

Wave is excellent for managing invoices and recurring billing for small businesses. It’s easy to use and saves customer information for future billing.

Pros : Wave simplifies recurring billing and saves customer information for easy invoicing. It also allows to adjust the pricing for particular product and services.

Cons : It’s entirely online, so you require internet access to manage everything.

Switched from : Excel2Tally

Reason to switch : I needed a better way to manage recurring invoices and track customer information. Wave provided an easy and affordable solution.