Wave Accounting Platform Reviews

“connects everything well

Pros

Wave is great! It's simple to use and offers many choices for generating reports and managing my finances. I love being able to connect my business card and business bank account.

Cons

Any issues I have with Wave aren't caused by the software. They've made it as user-friendly as they really could.

“Super easy for beginners

Pros

The interface is quite user friendly which makes it really easy for me as someone just starting out.

Cons

Honestly I don't really have any complaints, I just use it for my business accounts so it stays easy and meets my needs.

“very helpful for startups

Pros

As a new small business owner, I have found Wave's free, entry-level accounting software to be an obvious choice. I use their no-cost tier to reconcile accounts, have transactions imported automatically, send polished invoices and generate financial reports without adding overhead. Considering it costs $0, the functionality and value Wave delivers feels enormous and hard to beat.

Cons

I have run into two persistent bugs in Wave's software. The first is that the Sales Discount account behaves incorrectly. even after attempts to correct it, the system posts it as a revenue account instead of treating it as a contra-revenue account. The second problem is a bills-related rounding issue that leaves my Accounts Payable balance off by a few cents, even once all invoices are marked paid. I have developed weekly workarounds to patch these quirks but Wave still hasn't issued a fix or shared any timeline for resolving them over the past several months. On top of that, most accountants and bookkeepers I interact with use QuickBooks and don't know Wave so I wouldn't advise someone with an outsourced bookkeeper or complex tax needs to rely on Wave.

“creating invoices is easy

Pros

Overall I am happy I could send my employees their paperwork without a problem and I also appreciate how easy it is to create invoices through the app.

Cons

I haven't run into any drawbacks so far and I plan to keep using it going forward.

“Easy and secure payments

Pros

Payments were a breeze and I felt secure.

Cons

So far I haven't faced any problems using this product.

“Great free option for both uses

Pros

I really appreciate that Wave provides a fairly feature-packed free tier that I can rely on for both my personal finances and my business bookkeeping. Plus I can connect several Wave business accounts and manage them all from one login.

Cons

Occasionally I run into problems matching credit card transactions in the app which makes reconciling my accounts more frustrating than it should be.

“Easy invoicing that works

Pros

The tool is quite good and a great, easy to use invoicing tool that lets me accept online payments.

Cons

Sometimes I find there are limited options when trying to use it for all types of customers.

“Free and easy for uk users

Pros

I appreciated that it offered a free online solution specifically for UK customers.

Cons

In my experience the reporting features are quite limited, with only basic reports provided.

“connects everything well

Pros

Wave is great! It's simple to use and offers many choices for generating reports and managing my finances. I love being able to connect my business card and business bank account.

Cons

Any issues I have with Wave aren't caused by the software. They've made it as user-friendly as they really could.

“Super easy for beginners

Pros

The interface is quite user friendly which makes it really easy for me as someone just starting out.

Cons

Honestly I don't really have any complaints, I just use it for my business accounts so it stays easy and meets my needs.

“Easy invoicing that just works

Pros

It is really easy to use and I can quickly email invoices while easily seeing which ones remain unpaid.

Cons

I would really appreciate the ability to set my clients up on autopay so payments are processed automatically instead of them having to pay manually each time.

“Love how much it automates

Pros

Personally, I find Wave automates more than 86% of repetitive manual accounting duties like invoicing and billing.

Cons

I am somewhat frustrated that Wave doesn't have the functionality large global enterprises require though I do value its strong backend integration capabilities.

“Painfully slow payouts

Pros

For what I need, the platform is essentially free, only a reasonable 1% fee is taken which I think is fair.

Cons

One frustrating part for me is that it takes nine days before the money actually appears in my bank account.

“Great free alternative

Pros

It handles almost everything QuickBooks is capable of and the fact that I could use it at no cost was a huge advantage! It turned out to be exactly what I needed while I was setting up the back-end of my startup business.

Cons

I did have to spend some time learning how it works because I was accustomed to QuickBooks and several terms, the user interface and certain features behave or appear differently than what I am used to. After that initial learning curve it became easy and very handy.

“simple invoice app

Pros

Being able to use Wave for free is something I really like. Also it's so useful for sending invoices. I also find the app easy to use which I genuinely appreciate.

Cons

One downside I noticed was that there's no live support option to speak with a person, aside from that, I have found the service to be helpful.

“Makes invoicing incredibly easy

Pros

For my small business or as a solo consultant, I find Wave strips away all the annoying bits of invoicing and makes tracking payments in and out incredibly simple.

Cons

I honestly haven't personally encountered any real drawbacks while using Wave formerly 'Wave Accounting'.

“Frustrating support and no help

Pros

At first I found it useful. It's glitchy but free.

Cons

Their customer service and help desk felt nonexistent to me and there wasn't even a phone number to call despite my paid membership.

“Professional invoices, instant payments

Pros

Honestly this program is ridiculously simple to use. I am able to create and tailor my invoices so my business looks more professional than competitors. Drafting an invoice only takes me a few minutes and clients can settle their bills instantly by tapping the payment link included in the email.

Cons

Right now, I cannot come up with any downsides.

“Super easy transaction editing

Pros

Editing a banking transaction is incredibly easy. In short the platform is pretty user friendly.

Cons

I wish I could add extra details to a transaction but the app doesn't let me include additional information.

“Great alternative for bookkeeping

Pros

I use Wave in place of QuickBooks for my setup and I appreciate that it automates repetitive accounting tasks like AP, GL, financial management and payment matching.

Cons

That said I find Wave lacks offline access and the accounting capabilities needed for large, global enterprises.