Editor’s Note: Several of our readers have written in to point out that Wave small business is a free tool, in contrast to the paid offerings in this article. Although pricing is not the focus of this article, it’s certainly a top consideration, and GetApp nor the article’s author meant to imply otherwise!
Wave Accounting has been around for years, and many business have been using it, to varying degrees of satisfaction. In fact, user reviews and ratings of Wave Accounting here at GetApp are mixed. Certainly, this free accounting tool is not without its fair share of fans, but noticeable grievances have emerged. Users have cited issues with bank account migration/sync and data loss. In short, some say Wave has a few glitches.
Rather than quibble about the oft-stated peculiarities of the app, we’ve pulled together this list of five alternatives to Wave Accounting that we think certifiably kick butt. The accounting and financial reporting apps that make this list have been selected for there stability, easy synchronization, and robust reporting features, as well as any features they might have which go beyond the capabilities of Wave Accounting.
Here are our picks.
Our list of alternatives to Wave Accounting begins with FreeAgent. FreeAgent packs a ton of features into its intuitive dashboard. At the heart of FreeAgent is cash flow, just as is the case in your business.
FreeAgent provides a convenient snapshot of your cash levels at a glance, and presents the information in clear, easy-to-undertand charts and graphs. You’ll appreciate how FreeAgent lets you view cash flow on a three-month, six-month, or one-year scale, so you can assess your success over important time frames. Additionally, FreeAgent can call up a year-to-date Profit & Loss (P&L) snapshot, on demand.
FreeAgent also allows you to drag and drop elements, so you can pick and choose the accounting elements that matter most, and hone in on those. FreeAgent even maintains a tax timeline of important tax deadlines, so you can stay on top of things, and out of trouble with the Department of Revenue.
Pricing for FreeAgent starts at $24 per month for US customers. A free trial is available.
Perhaps the most obvious alternative to Wave Accounting is Intuit QuickBooks Online. QuickBooks is the longest running name in cloud-based accounting, and it’s with good reason. QuickBooks Online has a stellar interface with some of the most inspired visuals of any cloud-based accounting app.
More importantly, because Intuit is a juggernaut in the accounting space, QuickBooks Online has more bank integrations (including regional banks) than any other platform. The bank synchronization scheme in QuickBooks Online works as advertised (in contrast to the problems reported in Wave).
QuickBooks Online is also an end-to-end accounting solution. It offers detailed invoicing, P&L reporting, and tax documentation. QuickBooks Online puts you in control of every aspect of your accounting regime. The app is also well supported, as Intuit has a wealth of free customer support resources to help you learn about and use the features of QuickBooks Online.
Pricing for QuickBooks Online starts at $26.95 per month. A free trial is available.
FinancialForce Accounting is an alternative to Wave Accounting that makes our list largely on the basis of its strong integration with SalesForce CRM. If you’re using SalesForce (and let’s face it, who’s not?), you’d be hard pressed to find a better integrated accounting solution for businesses in which customer relationship management takes center stage.
FinancialForce Accounting works extremely well in sales or service-related businesses. FinancialForce is a Salesforce accounting app that records financial events as seamlessly as SalesForce itself records customer interactions. In other words, FinancialForce is the transaction side of the interaction element of customer relationship management.
The other major point of interest with regard to FinancialForce Accounting is the fact that the app supports businesses of all sizes and structures, including ones that lack a traditional, department-based accounting structure. So, in this regard, it’s ready-made for those times when customer support turns into a sales opportunity. As more and more businesses adopt that way of thinking (thanks, in part, to tools like SalesForce), FinancialForce Accounting is an alternative to Wave Accounting that responds accordingly.
A free trial of FinancialForce Accounting is available. They don’t seem to post pricing publicly.
Zoho Books, like all the other apps in Zoho’s lineup of Web apps for business, does an impressive job of delivering what it promises.
Zoho Books offers the full gamut of accounting tools, from unlimited invoicing to comprehensive financial reporting. What’s more, Zoho Books is relatively unique in that it offer full multi-currency support, so if your business operates on an international scale, Zoho Books might be the best choice of any for you.
Zoho Books offers nice visualizations of account data and it can even handle time sheets and limited payroll functions. Zoho Books has the ability to automate recurring billings and it works with the most popular payment platforms.
Zoho Books is priced at $24 per month. A free trial is available.
There’s something respectfully “grown up” about Intacct. Where other apps might interject a healthy dose of oh-so trendy “gamification” and superfluous illustrations, Intacct sticks to the time-tested traditions of accounting, while leveraging all the perks of the cloud.
Intacct offers all the general ledger, P&L, and billing features you would expect, but it adds some handy functions, like inventory management and per-project accounting. These features make Intacct a powerful tool that distinguishes itself among other alternatives to Wave Accounting.
Intacct is appreciably no-nonsense, and if that fits the bill for your business, look no further. Keep in mind, though, that Inactt is a powerhouse tool, and it’s aimed at those accounting professionals who need detailed, accurate reporting and feature-laden tools, so it’s priced accordingly.
Intacct starts at $400 per month.
Are you looking for the best alternative to Wave Accounting?
If Wave Accounting isn’t meeting your needs, consider the entries on our list. But if you still don’t see the ideal tool to help you wave goodbye to Wave Accounting, be sure you check out GetApp’s complete list of cloud accounting software.
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