Tue 20 Oct 2015 | By:

Wave Accounting Review: Is It Right for You?

Wave Accounting ReviewWelcome to Startup Savant’s quick and breezy Wave Accounting review where we take a look at this software’s pro/con features, pricing, and more to help you decide if it’s a good fit for your platform. Because startups and entrepreneurs fail and succeed by their financial management, we understand it’s an important step. That said, let’s get right to it. Enjoy!


What You Need to Know About Wave Accounting

10 Wave Accounting Pros

  1. Has a downloadable complimentary mobile app containing basic features from its web-based program.
  2. Offers unlimited invoicing and affordable business payroll – instantly sync your data.
  3. Collects financial data from bank accounts, PayPal and other sources and helps you manage it.
  4. Multi-currency feature is available.
  5. Good for entrepreneurs, freelancers, consultants and small businesses with 9 employees or less.
  6. Unlimited expense tracking to help you monitor where your money’s going.
  7. Has Bill and Invoice reminders which help you keep track of your financial obligations.
  8. Generates automated reports like balance sheets, sales tax reports, A/R and A/P.
  9. Offers a “Get Started Guide” to teach you how to use Wave Accounting.
  10. Cloud-based so you can access the software on any gadget, web browser and operating system.


Wave Accounting Cons


A Quick Look Inside Wave Accounting

Now let’s jump into some screen shots so you can get a feel for the software itself. These are examples showing what the dashboard looks like, how data is typically presented, and so forth.

Wave Accounting Dashboard

Within each section, like accounting for example, there are flows of data that are pretty easy to navigate once you get used to it. Each category is fairly intuitive as well so even if you’re an absolute beginner with no savvy at all, you’ll pick it up through sheer exposure in a relatively short amount of time.

Wave Accounting Dashboard

Reports are also a snap once you’ve gone through and tested them out. You may not need them all though, have a look to see which apply and which are yet to come.

Wave Accounting Features


Wave Accounting Pricing

So how does it work? Well, firstly, their mobile app version is free. However, it’s also rather limited – bank reconciliation tool, automated reports, invoicing and payroll and you can add as many customers, invoices, expenses and reports as you need.

Wave Accounting Pricing

If you need more functionality, you can then purchase suites of tools within these categories (each one comes with its own set of features):

So, if we look at Payroll this is what we’re talking about in terms of upgrading:

Wave Accounting Review Payroll

If you’re like most of our readers, what would happen is you would start with the free version then end up paying what are essentially competitive prices for what they could have just charged for in the first place. Only the most basic platforms could get by solely on the free mobile app alone. And because of that…

Final Verdict

Maybe Wave Accounting is perfect for you, and if so, it's worth a shot at least giving their free mobile app a try. But if you're still shopping and would like to see much more comprehensive software with extensive features at an affordable price head on over to Xero.

Explore Xero Or Try Wave Accounting

About Ryan James

Half hardworking hermit, half avid adventurer, Ryan founded Startup Savant to simplify entrepreneurship and pay it forward by donating a portion of all revenue to support children's education via DonorsChoose.org.