Perfect for Today's SME's.
Overall Satisfaction with Accounting by Wave
Wave is used in all aspects of our administration at ZonedIn and Galbro. It is used for payroll, invoicing, bookkeeping, HST (Sales Tax) management, financial reporting and business analysis. Wave has streamlined the way we collect, prepare, and analyze our financial data. It also provided us with an easy to use tool to manage all other areas of our business administration including invoicing, payments and payroll. By connecting all of our accounts to Wave we've been able see everything in real time versus more traditional accounting systems and we've saved time, money and headaches.
Pros
- Support. There are many similar systems out there but my experiences with Wave's support team is why I will always use this product over the others.
- Payroll. This is an area that can change your business. Harnessing the ease of use of Wave's Payroll Modules allows our company to stay lean and concentrate on growth while providing a premium experience to our awesome employees.
- Invoicing. It may seem trivial but the invoicing modules in Wave, when used correctly are a huge time saver and enhance the overall bookkeeping experience. Not to mention the impression my client's get when they receive a professional invoice via email.
Cons
- Sales Tax Automation. I don't even know how this would be possible but as an Ontario resident I would love to explore a way I could create parameters based on certain expenses and automatically add the HST.
- AI for categorizations. Wave does an alright job of taking a guess at the expense categories in the data from our payment accounts. A little more would be a fine addition.
- Speed. Sometimes I find it can be a little sluggish. Not all the time, but some.
- Increased administrative efficiency. Between using Wave and Wave Pro we've saved more than really quantifiable.
Day and night. I found QuickBooks Legacy for Enterprise clunky and outdated and the user experiences are without compare.
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