Wave Accounting Platform Reviews

“Budget friendly accounting tool

Pros

For my single-owner small business, Wave is incredibly affordable and really easy to use. It's taken the worry out of my accounting and I can hire a pro bookkeeper if I need one. Adding my accountant to my account was pretty easy too and I can invoice clients and keep track of payments.

Cons

I'd really like to see a wider range of expense categories available.

“Easy setup and helpful separation

Pros

Getting everything set up was pretty easy and I appreciate being able to organize accounts for businesses separately from individual clients.

Cons

I am unhappy with the recent changes to their system and don't like the new workflow they've implemented.

“Budget-friendly for side hustles

Pros

As someone running a startup side hustle, I find the app pretty easy to use and very budget-friendly for small business owners or part-time entrepreneurs.

Cons

There are some gaps in functionality, payroll being one of them but I don't mind those shortcomings when I am operating as a one-person team.

“Fantastic free accounting solution

Pros

One thing I really value about Wave is that its core accounting tools are offered completely free. As someone running a small business or freelancing, I can handle bookkeeping, create invoices and track expenses without paying for a subscription. Compared to a lot of alternatives, Wave gives a great, easy-to-use experience at no charge so I find it ideal when I want dependable financial features without surprise fees or hidden costs.

Cons

Honestly I don't have many complaints. they altered the free basic plan so I can no longer send emails, invoices or reminders but I think that change is fair.

“Great value for free

Pros

I found that the free tier included many excellent features that were on par with QuickBooks Online.

Cons

Because I am not inclined toward accounting, I was left having to learn account reconciliation on my own and it proved really hard to understand. Even with sessions from their support pros, it still took me a huge amount of time to get things sorted. I ended up spending several hundred dollars on multiple calls where the support specialist performed the reconciliation while I just watched, instead of walking me through how to do it myself. Afterward he stopped replying to my follow-up emails, even though he said he would answer them.

“Great value and super convenient

Pros

I find it to be a low-cost and often free accounting solution that still delivers better-than-average functionality because it's cloud-hosted, I can sign in wherever I am and I can easily connect external bank and other accounts into the app.

Cons

it doesn't offer enough add-on options to handle more complicated scenarios and its reporting capabilities feel limited and are an area where I'd like to see clear improvements.

“Fantastic free plan for startups

Pros

To be honest I have been really impressed by the accommodating free starter tier as it includes pretty much everything a new company needs to get going. The invoicing tools automate billing and send follow-ups so payments come in and the whole setup process was incredibly simple.

Cons

Personally, I ran into a few accounting features that are locked behind the paid plans, I understand why and at that point I figured it would probably make sense to upgrade.

“Great for managing accounts

Pros

With Wave, I can easily manage all of my bank accounts in one place which makes tracking transactions a hassle free task.

Cons

Using the program, it guides me with its various indicators so I can confidently make informed business decisions.

“Super simple and does it all

Pros

For over two years I have relied on this for my corporation's bookkeeping and it's worked wonderfully. Just the other day I asked my accountant whether I should switch to some other software to make preparing the company's tax returns easier and he didn't hesitate, he told me, No, whatever you're using covers everything I'd expect from an accounting package and it's incredibly easy to operate.

Cons

I find it includes every capability I require right now. Next, I plan to check whether I can connect it to my corporate credit card so transactions will automatically upload and save me time on manual entry.

“brings records together

Pros

Wave is a very useful piece of software especially because it's free for most users and provides an easy way to bring their accounting records together. The clients I work with who use it generally tell me it does a great job for what it is and they appreciate that it performs well despite being free.

Cons

Overall I find it a bit less user-friendly for someone without an accounting background. The transactions screen and the way entries are displayed, with everything showing on the main screen, can be hard to follow particularly when all accounts are selected. It's great for basic bookkeeping but for more complex businesses that handle more transactions and have multiple accounts, I'd recommend opting for a more sophisticated accounting solution.

“Good basics, limited depth

Pros

The free plan is pretty good. I can add my branding to forms. I can accept payments.

Cons

In my experience it's poor for job costing or handling multiple projects under one customer. I don't find it powerful for complex accounting.

“Budget-friendly for small business

Pros

As a small business owner, we really appreciate having a budget-friendly accounting solution.

Cons

I wish they hadn't removed the free receipt scanning feature, despite that, I am still paying for the service anyway.

“Really easy and insightful!!

Pros

It is very user-friendly and its analytics for record keeping are excellent.

Cons

For the subscription, I wish the price was a little more affordable, it's a bit steep for my budget.

“great for client invoicing

Pros

I have been able to easily create invoices for jobs I have completed for clients and for the other people I work with.

Cons

there's a lot of tweaking and editing I have to do to any written material before it's usable.

“Great for accounting tasks

Pros

I am really happy with this app, it perfectly helps me manage accounting, create invoices and prepare tax statements

Cons

I have found that the payroll option isn't available if you're located in Quebec

“Clear control and AI helps

Pros

Wave gives me the clear visibility and control I need across accounts payable, international payments, procurement and employee expense tracking so I can run my business more efficiently and support growth. I also notice its ease of use has been boosted by AI capabilities.

Cons

I don't like being limited when it comes to tailoring the dashboard to my preferences and it's frustrating that a number of banks cannot be fully integrated with the software which creates headaches when I am trying to connect all my financial accounts.

“Really happy with the free version

Pros

Using the free version has me completely satisfied with the product! Since I am not an accountant, I did face a steep learning curve though that challenge was mainly tied to accounting concepts rather than anything to do with the software itself.

Cons

I have noticed it will occasionally freeze when I have lots of windows open particularly if I try to launch multiple sections at once which can interrupt my workflow.

“Easy and budget-friendly choice

Pros

Honestly it's pretty easy to use and I appreciate how affordable it is. Plus the best part is that most capabilities come without charge.

Cons

I wish it offered greater customization plus a broader set of capabilities, including accounts receivable and payable invoicing.

“Great for staying compliant

Pros

It included every feature my accountant requires to confirm that we stay fully compliant and organized.

Cons

Like most startups, a number of capabilities begin as free options and later require payment but I am not upset about that because I feel the value justifies the expense.

“Budget-friendly for side hustles

Pros

As someone running a startup side hustle, I find the app pretty easy to use and very budget-friendly for small business owners or part-time entrepreneurs.

Cons

There are some gaps in functionality, payroll being one of them but I don't mind those shortcomings when I am operating as a one-person team.