Wave Accounting

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.

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!

Overall: They suck and so does their customer service! The online chat is always 30 minute hold or more and they always BLAME your bank for all the issues. I have on several occasions contacted my bank about the so-called issues and they state they have absolutely nothing to do with Wave functionality at all, they simply allow the connection through Plaid - so Wave just doesn't or doesn't have the capability to fix technical issues with their software.

Pros: 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.

Cons: 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.

Overall: I am not sure that I will continue to use it after the mess this year still working on fixing the messes.

Pros: This is probably the best self-employed, low budget accounting solution available on the market because you can't beat the price (FREE).

Cons: 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.

Overall: This is a simple, perhaps rudimentary accounting software, but for small, simple operations, Wave may be all you need. Upgrade to Xero or Quickbooks online when things get more complex or you're ready to hire a bookkeeper (if they won't work in Wave)

Pros: We could manage the accounting for our small business until we couldn't. The software worked until it didn't.

Cons: Zero respect for the criticality of a businesses accounting systems and data

Overall: We were on Wave for about 5 years and become dependent on their systems. Suddenly they removed support for our Wells Fargo Bank feed and blamed their bank feed integration partner. We verified directly with the bank feed integrator that they still supported the feed from our bank. I complained and complained to Wave's India support and finally confronted them with what the feed integrator said. They were completely dismissive. When I said they didn't understand the needs of a US business, the support manager went into a tirade and terminated any future support for our account. I filed a BBB complaint and the company responded that I was "insensitive" and refused to do anything. We're now having trouble getting our financial data out of their systems. These are horrible entitled people. Here's a perfect example of the cost of free. It's costing us 10s of thousands of dollars to migrate and reconstitute our financial data to a new SaaS provider. Buyer Beware.

Pros: 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: 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!

Overall: Overall Wave can be used for small business or personal finance and it's free. I love this easy to use software.

Pros: Easy to create invoices and really like how there's a mobile app to create invoices on the go. Can add team members too!

Cons: They used to not have double entry accounting but they do now.

Overall: It's great for any business. Great for a free platform and only costs when you accept credit card payments.

Pros: Love how professional invoices look and branded. That was the big selling point for me that others didn't have

Cons: There is not much I don't like. They've done updates to remove what I didn't like

Overall: Great for a business of any size. Amazing that it's free and only costs processing costs. Definitely a win.