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.
FreeAgent
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.
QuickBooks Online
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.
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