Wave Accounting Platform Reviews

“Great free accounting tool”

Pros

For a long time Wave Accounting was the only free accounting app that supported bank reconciliation for my country and that was the main reason I chose it back then since no other software offered that capability for free. I found the platform pretty easy to use and the step-by-step tutorials made getting set up simple. Considering it's free, Wave still packs a lot of features that you usually see in paid programs. In my experience it's far easier and more practical for bookkeeping than trying to manage everything in Microsoft Excel or Access. If you're still stuck using spreadsheets or paying for expensive accounting software, I'd suggest you give Wave a try, it won't cost you anything.

Cons

To be honest, if they hadn't removed the bank reconciliation feature for my region, I probably would still be using Wave Accounting today. It feels like their focus has shifted toward users in the US and Canada and that change pushed me away.

“Free and incredibly useful”

Pros

It's completely free and I get every bookkeeping feature I need for my small business. automatic bank connections and transaction imports, transaction categorization with AI-powered auto-categorization, plus built-in reports like profit and loss and more. I really love it!

Cons

there's a slight learning curve to figure out how to use it but I also feel that's just part of getting to grips with managing accounting for a small business in general anyway.

“right fit for small businesses”

Pros

For the most part, I find the fees really low unless I opt into payroll or merchant services and the receipt-scanning app is a fantastic bonus.

Cons

When I was launching my small business, getting the electronic payment system configured felt a bit difficult to set up.

“Super easy and smooth”

Pros

I only tried the demo and discovered it was really simple to use and to transfer data from other software, with payroll especially helpful.

Cons

Seems to integrate well with other data, I cannot confirm.

“Easy to use but limited”

Pros

It is incredibly simple to navigate, very user-friendly and easy to access.

Cons

Unfortunately, the functionality is limited so I cannot perform most accounting tasks using this software.

“Simple and efficient bookkeeping”

Pros

this is a easy, no-frills tool that handles everyday bookkeeping needs efficiently. It's quick to install and simple to pick up and it really makes managing finances less of a hassle.

Cons

I wish the interface were a bit more user-friendly, it's somewhat clunky at times. Compared to some other programs I have tried, those options feel faster and more streamlined.

“Easy, accurate and affordable”

Pros

It is incredibly easy to use, it helps me produce accurate reports without hassle and it's affordable.

Cons

For me it took a little bit of time to fully understand the interface.

“Easy to use overall”

Pros

For the features I understood, I found the interface really easy and simple to navigate.

Cons

Because we didn't have the payroll add-on, I couldn't access support since help was restricted to payroll customers so I was left without the assistance I needed to use the software.

“Best accounting services on a budget”

Pros

I was handed the accounting part of our startup, which was the most difficult part for me. After months of managing the finances (and failing admirably), we decided to buy software that would help. QuickBooks was our first choice, but it was so expensive and a lot of the features it offered werent needed, which made it more expensive for us. However, after a lot of searching, we finally settled on Wave, which had just the right amount of features at a price we liked. I use it to run reports and manage our expenses with a level of accuracy weve never achieved before.

Cons

It is a bit of a concern that closing a time period on Wave is not entirely possible. Whatever you do, someone with enough access can go back up to a year and change whatever entries they want without notifying anyone. I would absolutely love it if the admin department could limit access or, at the very least, close the period properly so that no changes could be made without notification. User growth is also very, very limited with the software.

“Super easy accounting experience”

Pros

I really appreciate how user-friendly the accounting and banking features are and the advisors plus customer support reply promptly and helpfully.

Cons

I find it tricky to sort and assign categories to my bank transactions accurately and consistently.

“Super easy for our team”

Pros

Using this, I found it really easy and simple to navigate so our finance team didn't need any additional training.

Cons

I have noticed it can get sluggish at times and as far as I know there isn't a dedicated desktop app available.

“Smooth across all my devices”

Pros

I really like how it delivers a smooth, seamless experience across my iPad, my iPhone and my laptop.

Cons

There's a tax calculation that ends up slightly incorrect though I can use a workaround to fix it, otherwise I am pleased with it.

“Easy setup and smooth editing”

Pros

Getting started was easy. That said I had to spend a fair amount of time making sure cost accounts, net terms, rates and other details were entered accurately. Fortunately, correcting typos or filling in anything I missed during the initial setup was simple.

Cons

I find the mobile app less reliable than the desktop version. For tasks like checking records or the status of payments, I prefer doing it on a computer.

“Free, polished and easy to use”

Pros

Because it's free to use, I really enjoy Wave Accounting and the app's clean, attractive layout makes everything simple to navigate. People have told me my invoices look very professional and I find creating invoices and keeping an eye on my finances really easy. The reconciliation tool lets me wrap up my tax return quickly and that time savings has made a huge difference in how fast I can manage my bookkeeping.

Cons

However I am frustrated that Wave no longer provides full support for UK users and I miss the functionality I used to rely on.

“Easy start for small teams”

Pros

Wave feels like a easy accounting tool, really easy to get started with and perfect for SMEs or small enterprises.

Cons

I have noticed it doesn't scale well, once my business data gets large, the app becomes sluggish and its performance drops noticeably.

“Super easy for daily bookkeeping”

Pros

Managing all of my sales and purchases is incredibly easy with this app, I can also print pages directly from within the app which I consider a major advantage and convenience.

Cons

Honestly I don't have any complaints. I am really fond of the app, it's very user-friendly and simple to navigate.

“better than paid tools”

Pros

I have been using Wave and really appreciate that it's free accounting software that's a pleasure to work with. I notice it packs many of the same capabilities you'd find in paid accounting packages and I find it easy to track both income and expenses without extra fuss.

Cons

Personally, the drawbacks I run into with Wave are clear. while its reporting tools are decent for basic needs, they don't let me build custom reports the way I want. I also miss a tagging option which would make it much easier for me to group and filter specific line items.

“Easy, free and really useful”

Pros

I am finding the software really easy to use. It's free to start and when I need extra features I can pay to unlock them.

Cons

Unfortunately I am unable to use it in US territories anymore.

“Great for small businesses”

Pros

For small businesses like mom-and-pop shops, I find this app extremely helpful for handling basic accounting needs.

Cons

What bothers me most about this software is that I end up paying separately for each individual feature.

“Amazing free accounting tool”

Pros

This program really is totally FREE to use! No tricks, nothing hidden. I admit I was doubtful when a client mentioned they used it. Didn't want to learn another accounting package but after I signed in and saw how user-friendly and efficient everything felt, I was completely convinced! The only charges appear if you opt into their payroll I strongly recommend NOT using their payroll, it desperately needs improvement or if you use their payment processing to accept client invoice payments. Their payment processing fees are comparable to Square and Stripe and a reasonable trade-off for such a terrific application. Personally I suggest using their payments so they can keep the billing features free without monthly fees! Onboarding clients was easy, the interface stays clean and the mobile app handles basic tasks reliably which made switching painless for my small business workflow.

Cons

I have been disappointed by the reporting, it's weak. There's no way to generate a no receipts attached report for clients. The software suffers occasional glitches. we'll enter data, log out and later discover our work gone which has caused panic more than once. I am still fighting with one account in particular. If I sign in using an incognito window the missing entries sometimes reappear. Their payroll system is terrible, I wouldn't use it and cannot recommend it. We default to Square Payroll. The chart of accounts feels outdated and doesn't map to Schedule C or S-Corp tax expense lines. I need to be able to customize a chart of accounts and copy/paste that setup into other client accounts. The accountant login is handy but the client list doesn't always alphabetize properly. Ability to sort alphabetically or by priority would help. Also, uploading receipts should be much faster and simpler.