Last updated on
Company health
Ratings
Wave description
Wave is an all-in-one financial software designed for small and medium-sized businesses. It offers tools like invoicing, payment processing, accounting, and payroll, all within a user-friendly platform. Wave simplifies financial management, eliminates the need for spreadsheets, and helps businesses stay organized for tax season. One standout feature is its focus on ease of use, making it suitable even for users without accounting experience. While some features are free, others require paid subscriptions.
Who is Wave best for
Wave Financial is an easy-to-use, free financial software perfect for freelancers, contractors, and small business owners. Users love its free invoicing and expense tracking, but some have reported issues with customer service and account stability. If you're looking for basic financial management, Wave might be a good fit, but consider the potential downsides.
-
Best for small to medium-sized businesses (SMBs), freelancers, and entrepreneurs.
-
Ideal for various sectors, including retail, e-commerce, healthcare, and professional services.
Wave features
| Supported Wave supports expense tracking, automated imports, and receipt scanning. |
| Supported Wave allows creating, sending, and tracking invoices, including recurring invoices. |
| Supported Wave can generate balance sheets, P&L statements, and cash flow statements. |
| Supported Wave manages payroll, calculations, and compliance filings, but automatic filing is limited by state. |
| Supported Wave fully supports general accounting functions, including recording, classifying, and summarizing transactions. |
We evaluate the sentiment that users express about non-functional aspects of the software
Value and Pricing Transparency
Customer Service
Ease of Use
Reliability and Performance
Wave reviews
We've summarised 293 Wave reviews (Wave G2 reviews) and summarised the main points below.
- Easy-to-use interface for basic bookkeeping
- Free core features, like invoicing
- Affordable credit card processing
- Automated transaction importing and categorization
- Useful reports for financial snapshots
- Account disabled without warning or explanation
- Slow and ineffective customer support
- Billing bugs causing lost revenue
- Bank integration for bill payment tracking can be confusing
- Difficult to set up some features without a bookkeeper
Wave pricing
The commentary is based on 46 reviews from Wave G2 reviews.
Wave's core accounting features are free, making it a popular choice for small businesses and freelancers. Users appreciate the robust free version and reasonable pricing for add-on services like payment processing and payroll. While some find the payment processing fees a bit high, the overall cost-effectiveness is frequently praised.
Users sentiment
See the Wave pricing page.
-
Wave has a free plan.
Starter Plan
Create unlimited estimates, invoices, bills, and bookkeeping records. Option to accept online payments. Invoice on-the-go via the Wave app. Manage cash flow and customers in one dashboard.
Pro Plan
Everything in Starter, plus…. Option to accept online payments at a discounted rate. Auto-import bank transactions. Auto-merge and categorize bank transactions. Digitally capture unlimited receipts and track expenses. Automate late payment reminders. And more!
Wave alternatives
NetSuiteBetter fit for larger businesses. More comprehensive features, including CRM and inventory management. Has more momentum in terms of employee growth.Read more
Invoice OfficeHas fewer features than Wave. Wave is growing faster. Invoice Office is a Wave competitor and a good Wave alternative for basic invoicing.Read more
XeroBetter for established businesses needing more advanced features. More automation and integrations with other business apps. A popular Wave competitor for those seeking robust accounting solutions.Read more
SAP ConcurBetter for managing travel and expenses for larger enterprises. More focused on expense reporting, invoice approvals, and spend visibility.Read more
MaestroPaymentBetter for managing international contractors and freelancers. Has momentum. Integrates with time reporting tools. Offers a premium plan with a fixed monthly fee.Read more
RilletBetter for mid-sized SaaS companies. More focused on software businesses. Has grown much faster recently. Users love the automated revenue recognition, Salesforce and Stripe integrations, and customer support.Read more
Wave FAQ
What is Wave and what does Wave do?
Wave is user-friendly, all-in-one financial software for small and medium businesses. It offers free invoicing, accounting, and payment processing, plus paid payroll options. Wave simplifies financial tasks, helping businesses stay organized. While praised for ease of use and free features, some users report customer service issues.
How does Wave integrate with other tools?
Wave integrates with other applications like PayPal, Stripe, and Etsy for payment processing. It also connects with Zapier, allowing integration with thousands of other apps, extending its functionality for various business needs.
What the main competitors of Wave?
Wave's top competitors include Xero, FreshBooks, Zoho Books, and Invoice Office. These alternatives offer similar features like invoicing, expense tracking, and financial reporting, often targeting small to medium-sized businesses.
Is Wave legit?
Yes, Wave is a legitimate and free accounting software option. It's known for its user-friendly interface, especially for basic bookkeeping and invoicing. However, be aware of potential customer service issues and occasional billing bugs.
How much does Wave cost?
Wave offers a free Starter plan for creating invoices and managing cash flow. The Pro plan, priced at $170/year, offers additional features like automated bank transactions and expense tracking. Is Wave worth it for your business? It depends on your specific needs and budget.
Is Wave customer service good?
Wave's customer service receives mixed reviews. While some users describe helpful and friendly support, others report slow and ineffective responses, especially regarding billing issues. Some users have even had their accounts disabled without explanation.
Reviewed by
Michal has worked at startups for many years and writes about topics relating to software selection and IT management. As a former consultant for Bain, a business advisory company, he also knows how to understand needs of any business and find solutions to its problems.
Tymon is a seasoned CTO who loves finding the perfect tools for any task. He recently headed up the tech department at Batmaid, a well-known Swiss company, where he managed about 60 software purchases, including CX, HR, Payroll, Marketing automation and various developer tools.