LedgerLite

LedgerLite

Responsive Software
Wave Accounting

Wave Accounting

Wave Financial
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About

LedgerLite is an award-winning shareware accounting system for any organization that needs a general ledger or cashbook. Because it's incredibly easy to download and use, it's ideal for students of double-entry bookkeeping. If you're familiar with double-entry bookkeeping you'll find LedgerLite is the perfect tool to maintain the books of a business, club or trust, or your personal finances, especially if reliability and privacy are important to you.

About

Powerful, free accounting software. Wave’s easy-to-use accounting software can connect your bank accounts, sync your expenses, balance your books, and get you ready for tax time. Start taking control of your finances today. We designed Wave for small business owners. No jargon, just easy software that makes sense. After creating your account, everything's set up so you can get started right away. Access it anywhere, any time. Your data is always available, and it’s backed up for extra peace of mind. Connect your bank accounts in seconds. The transactions will appear in your bookkeeping automatically, and you can say goodbye to manual receipt entry. Have an eye on the big picture so you can make better business decisions. Our robust reports are easy to use and show month-to-month or year-to-year comparisons so you can easily identify cash flow trends. When everything is neatly where it belongs, tax time is simple.

Platforms Supported

Windows
Mac
Linux
Cloud
On-Premises
iPhone
iPad
Android
Chromebook

Platforms Supported

Windows
Mac
Linux
Cloud
On-Premises
iPhone
iPad
Android
Chromebook

Audience

Small and medium sized businesses, clubs, trusts, associations, solicitors, nonprofits, accountants, bookkeepers, students.

Audience

Small business owners, entrepreneurs, and freelancers that need a powerful but free or low-cost accounting system

Support

Phone Support
24/7 Live Support
Online

Support

Phone Support
24/7 Live Support
Online

API

Offers API

API

Offers API

Screenshots and Videos

Screenshots and Videos

Pricing

$149 one-time fee
One-off fee per company. No monthly fees.
Free Version
Free Trial

Pricing

$35 per month
Free Plan, Pay-per-use Plan, and Monthly plan all offered.
Free Version
Free Trial

Reviews/Ratings

Overall 4.9 / 5
ease 4.8 / 5
features 4.6 / 5
design 4.8 / 5
support 4.9 / 5

Reviews/Ratings

Overall 3.3 / 5
ease 3.7 / 5
features 3.7 / 5
design 4.1 / 5
support 3.1 / 5

Pros & Cons from Real Users

Pros

  • LedgerLite is simple, reliable, and easy to use. We have used it for many years to manage the accounting of our laboratory businesses. It covers our daily accounting needs efficiently without unnecessary complexity. The software is stable, and the support from Matthew has always been responsive and helpful.
  • I have been using LedgerLite since 2019. It is very basic and simple to use and with a bit of bookkeeping skills and knowledge it can make keeping track of business, club, and association records so much easier and less frustrating. Financial statements are easily generated for monthly or yearly reports. This program is very affordable and you don’t have to pay all those high monthly subscription fees. It is a good way for small entrepreneurs to keep track of their business without having to spend a fortune. It would also be great for contract workers, therapists and any persons who need to keep track of revenue and expenses for tax purposes. Another bonus is that it is also very easy to pass on your set of books to another person on a thumb drive. This Makes it a great program to use in clubs and associations where the treasurer changes every so often. Instead of new treasures having to use what ever record keeping system they have it keeps the same books in the same format without the new treasurer having to buy the same program as the pre-existing treasurer used.
  • I greatly appreciate this software's classic and straightforward design, which stands out in an era of increasingly complex tools. Its reliability, efficiency, and ease of use make it a valuable asset.
  • Flexible, complete accounting system. Fantastic customer/tech support. Gets at the nuts and bolts of accounting, which helps produce cleaner, more accurate accounting information for a variety of businesses. Streamlined approach helps to avoid the quagmire that results when using some more automatic programs that pretend that the user does not need to know what they are doing (e.g., Quickbooks). Very stable program that is easily updated without additional charges.
  • Not cloud based (your data), one of purchase (no subs), gives tools so you can make solutions, lightweight/portable.

Cons

  • The interface has a traditional design and could benefit from some modernisation. However, this has never affected the reliability or functionality of the software, which are much more important to us.
  • Maybe setting up the financial statements might be a bit difficult for some persons
  • It would be helpful to have the option to print invoices directly from the software. The software can be hard to find; greater visibility and marketing would help more users discover this useful tool.
  • With the reports (balance sheet, income statement), the dates have to be manually entered each time, rather than having a default of the current year that can be changed manually. Does require a user's willingness to delve into accounting principles. Although this was a pro for me, this might not be of interest to some people.
  • The support for this product is lacking once you get more technical. However this could be because it sits on the fence of software features and accounting principles. Once through my first years returns we got a lot of the crinkles ironed out.

Pros & Cons from Real Users

Pros

  • Ease, look, my older business accounts are still free, even though my newest one I have to pay for, imports from bank back to 365 days! I honestly can't say anything else good about Wave.
  • It is free easy to use. It takes a lot to set it up but the invoicing and ease of payment for clients is great.
  • This is probably the best self-employed, low budget accounting solution available on the market because you can't beat the price (FREE).
  • We could manage the accounting for our small business until we couldn't. The software worked until it didn't.
  • What I love about Wave is that the accounting and reports, sending invoices, receipt scanning and email support all included for FREE. You cant beat that!

Cons

  • Disconnects from bank too often, updates crash account, and recently last update messed up all my accounts so badly that I am now forced to look for a different company bcuz Wave blames it on my bank and won't assist me. Customer Service is horrible and all of it is online, chat which makes it virtually impossible to get anything done - why can't a company get access to my computer to assist, or just have free phone technical support? With this last update, they added Tags and Perks. All my bank accounts disconnected in all three of my business accounts (not my credit card accounts thought). When I reconnected, one: none of my bank accounts are showing the last 3-4 digits so I have no idea which ones to connect now to which business w/out much, much effort, two: when I did import the bank accounts Wave is now combining all transactions between both bank accounts and not in the correct one, and not showing the correct balance in all of them, three: I deleted the bank accounts and reconnected over and over and over and over again, different ways without success to the point I decided to delete the incorrect transactions in the different accounts, only now, when I deleted those transactions, then deleted the bank account to reconnect in hopes with would work, now ALL these deleted transactions won't even transport now - EVEN THOUGH Wave is still showing the correct balances! Fourth: Now with a company bank connection, Wave is asking for a Company ID number - what the heck is this, where can I find it, and if you don't have a Company ID number Wave does not allow the connection!
  • This year this software has disappointed me it has lost bank connections and then tripled the transactions I am not happy and am looking for something that works better. The financial statements are not very professional looking. It does not always remember the proper place to put things and so you really have to be careful reviewing process has to be intense. I am not sure that I will continue to use it after the mess this year still working on fixing the messes. If you have more than one person as admin it screws it up so bad.
  • The reports are not nuanced. You won't get a P&L detail or a P&L by month across multiple months...the rules are not very dynamic.
  • Zero respect for the criticality of a businesses accounting systems and data
  • Well if you have to pick something to dislike about a FREE software I guess I'd have to say I dislike that Wave seemed so new and they are constantly updating and I'm always losing where things are kept. I have a terrible memory!

Training

Documentation
Webinars
Live Online
In Person

Training

Documentation
Webinars
Live Online
In Person

Company Information

Responsive Software
Founded: 1998
New Zealand
www.ledgerlite.com

Company Information

Wave Financial
Founded: 2009
Canada
www.waveapps.com/accounting

Alternatives

LedgerPlus

LedgerPlus

Responsive Software

Alternatives

Basic Bookkeeping

Basic Bookkeeping

OWL Software
AccountEdge

AccountEdge

Priority Software US

Categories

Categories

Accounting Features

Accounts Payable
Accounts Receivable
Bank Reconciliation
Billing & Invoicing
Cash Management
CPA Firms
Cryptocurrency Support
Expense Tracking
Fixed Asset Management
Fund Accounting
General Ledger
Government
Multi-Currency
Nonprofits
Payroll Management
Project Accounting
Purchase Orders
Tax Management

Accounting Features

Accounts Payable
Accounts Receivable
Bank Reconciliation
Billing & Invoicing
Cash Management
CPA Firms
Cryptocurrency Support
Expense Tracking
Fixed Asset Management
Fund Accounting
General Ledger
Government
Multi-Currency
Nonprofits
Payroll Management
Project Accounting
Purchase Orders
Tax Management

Accounts Receivable Features

ACH Payment Processing
Billing & Invoicing
Check Processing
Collections Management
Online Payment Processing
Overpayment Processing
Partial Payments
Receivables Ledger
Recurring Billing

Billing and Invoicing Features

Billing Portal
Contact Database
Contingency Billing
Customer Portal
Customizable Invoices
Dunning Management
Hourly Billing
Invoice History
Mobile Payments
Multi-Currency
Online Invoicing
Online Payments
Payment Processing
Project Billing
Recurring/Subscription Billing
Service Ticket Billing
Tax Calculator

Bookkeeping Features

Accounts Payable
Accounts Receivable
Bank Reconciliation
Billing & Invoicing
Cash Management
Collections
Expense Tracking
Fixed Asset Management
General Ledger
Payroll
Revenue Recognition
Spend Management
Tax Management

Real Estate Accounting Features

Accounts Payable
Accounts Receivable
Bank Reconciliation
Commission Management
Contract Management
General Ledger
Mobile Access
Payroll
Property Development Management
Reporting / Analytics
Work Order Management

Integrations

CartonCloud
Contractbook
Datameer
Field Service Cloud
Freedcamp
HubSpot Customer Platform
Insightly
Kizen
KonnectzIT
Maintenance Care
Motileo
Nango
Oliver POS
OutboundEngine
Paycove
Payment Rails
Peaka
RegFox
Wisely by ADP
Zapier

Integrations

CartonCloud
Contractbook
Datameer
Field Service Cloud
Freedcamp
HubSpot Customer Platform
Insightly
Kizen
KonnectzIT
Maintenance Care
Motileo
Nango
Oliver POS
OutboundEngine
Paycove
Payment Rails
Peaka
RegFox
Wisely by ADP
Zapier
Claim LedgerLite and update features and information
Claim LedgerLite and update features and information
Claim Wave Accounting and update features and information
Claim Wave Accounting and update features and information