Wave Accounting Platform Reviews

“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.

“Easy to use and packed with value”

Pros

I am pleasantly surprised by how user-friendly it is, I figured out how to do things pretty quickly thanks to the clean, simple interface and the free plan actually gives me a lot of helpful tools.

Cons

However I have run into problems with the automatic categorization of payments and income, it isn't as smooth or reliable as I'd expect and sometimes mislabels transactions. The AI tools are okay but make mistakes and when I collect payments through their native Checkouts they get placed into categories that I cannot fully edit which is annoying when I need accurate records.

“Free but awkward to use”

Pros

As a startup with limited resources, I appreciated that it was free, having that option was really helpful.

Cons

I found the interface a bit clunky to use and it didn't feel very user-friendly to me.

“tracks due dates”

Pros

Their website is really easy to navigate and I appreciate that it keeps track of invoice due dates and sends me reminders when payments are coming up.

Cons

Honestly I cannot think of anything I dislike about Wave.

“layout makes sense”

Pros

The layout makes sense to me, it's easy to use and it includes all the tools I require.

Cons

I have noticed the automatic receipt categorization option has gone missing from the app.

“automates recurring invoices”

Pros

I like how basic the interface is and that I can easily send one-off invoices as well as set up invoices that recur automatically. I also value being able to accept multiple payment methods, from credit or debit cards to ACH direct deposits. Ultimately the simple transaction management saves me a lot of time as the owner of a small business.

Cons

the recent hike in pricing is understandable given costs but it still stings and isn't enjoyable.

“Free, flexible and really polished”

Pros

Wave Accounting is free which is my favorite part and it is so simple to set up and use. Plus it comes with many customizable options and overall I consider it a really high-quality product.

Cons

From my experience it can sometimes be hard to locate certain features within Wave which makes navigating the app a bit frustrating.

“Simple, sleek and affordable”

Pros

Using it feels easy and no-nonsense and I appreciate the clean, modern interface plus its very affordable price.

Cons

I'd like to be able to check my transaction history inside the mobile app rather than having to go online.

“Love using this tool”

Pros

Everything about Wave appeals to me. I have relied on it for several years to handle my small business accounting and because it's linked directly to my business bank account, I never have to fear missing a transaction or forgetting anything.

Cons

Honestly there's nothing I can criticize about Wave, I have employed it for multiple small businesses of various types and in every case it has done the job well and met the needs of the different businesses I run.

“Decent for small businesses”

Pros

For small businesses, I find it to be a good software solution but it really doesn't offer much beyond that.

Cons

I feel it doesn't adapt to the requirements of large companies so I don't recommend it.

“Helpful for basic bookkeeping”

Pros

While freelancing, I used Wave for just a month and found its accounting tools handled the basics, things like invoicing and tracking expenses, very well. The live financial snapshots and automation cut down on work and save us a lot of time.

Cons

What I find disappointing is the absence of more advanced features.

“allows quick payments”

Pros

One thing I appreciate most about Wave is its user-friendly platform and how convenient the mobile app is. I also find it super simple to create invoices and receive payments quickly.

Cons

To be honest, there really isn't anything about Wave that I disliked, they delivered exactly what my business required and met our needs without issue.

“No more manual data entry”

Pros

With Wave's powerful tools, I no longer have to rely on manual data entry for routine tasks like bank reconciliation, AP and AR across our accounts.

Cons

I have yet to encounter any errors while using the Pro plan so far.

“Easy to use but payment delays hurt”

Pros

I am really impressed with how easy it is to use, the whole thing is very user-friendly. After QuickBooks Pro hiked its prices so steeply, I made the move to Wave and appreciate that it lets me handle my bookkeeping without paying the extreme extra fees QuickBooks started charging.

Cons

What frustrates me is that you cannot apply a percentage of an estimate directly to an invoice which I assumed was standard practice in the industry. The ACH payout timeline has been maddening. they promise two to seven business days yet every single bank transfer I have received from clients has taken exactly seven business days to clear. On top of that they charge a one percent fee with no cap and still hold onto the funds during the wait which feels dishonest and unacceptable to me.

“Payroll and expense tracking made easy”

Pros

Using Wave, I found processing payroll for employees easy and it made tracking our business expenses simple and hassle-free.

Cons

Right now, I haven't run into any drawbacks with the system.

“it offer free plan”

Pros

I appreciate that there's a free plan which is ideal for very small businesses processing only a few transactions, I also find the whole system simple and easy to use.

Cons

From my experience the app lacks integrations and doesn't provide enough customization options which leaves me constrained.