Wave Accounting Vs ReconArt (Nov 2020)

Shlomi LaviShlomi Lavi / Nov 11, 2020

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Looking for the right Core Accounting solution for your business? buyers like you are primarily concerned about the real total implementation cost (TCO), full list of features, vendor reliability, user reviews, pros and cons. in this article we compare between the 2 software products:

Vendor comparison

Wave Accounting: Wave Accounting is an awesome, cloud-based, integrated software and tools for small businesses. So far, that includes Invoicing, Accounting, Payroll, Payments and more, plus Personal Finance Software, too.

ReconArt: ReconArt was born from the need for satisfaction and comfort - satisfaction in a comprehensive toolset to undertake reconciliations and period close and comfort in a wholesome and sustainable solution that was ready for the future. Manual processes, a multitude of spreadsheets, legacy reconciliation and period close software products with a high cost of ownership, and inboxes bulging with emails that could never be found when auditors asked for proof. These were the frustrations that the principals of ReconArt were dealing with daily and monthly prior to founding ReconArt in 2008. Having spent many years in support of finance and accounting teams, they felt these pains strongly. Just as strongly they were resolute to address these issues for their user community. They vowed to solve these issues and enable finance teams to effectively and efficiently conduct their routine surety work. Just over three years later the launch of the ReconArt™ Total Reconciliation Lifecycle™ into the North American made good on that promise. Today, ReconArt is the fastest growing provider of reconciliation automation and period close management solutions. There’s a reason for this. It stems from a commitment and on-going partnership with our client base. It also stems from our technology. Built from scratch for the cloud using the latest proven zero footprint web technology, ReconArt™ offers totally flexibility to be accessed with no more than a secure internet connection from anywhere, or to be installed in your data center under your exclusive control. Furthermore, ReconArt™ is already integrated with thousands of data feeds and partner applications to get you up and running in no time at all.

Pricing/cost comparison

The real cost of Core Accounting software includes the software license, subscription fees, software training cost, customization cost, required hardware, and the cost of maintenance & support and other related services. It's critical that you account for all of these costs to gain an understanding of the system's "total cost of ownership". We prepared a total cost calculator for Wave Accounting TCO and ReconArt total cost to help with the total cost of ownership calculation.

Wave Accounting price Starting from $20 per month , on a scale between 1 to 10 Wave Accounting is rated 4, which is lower than the average cost of Core Accounting software. ReconArt price Starting from $1,500 Per 5 users/month , when comparing ReconArt to their competitors, the software is rated 2 - much lower than the average Core Accounting software cost.

Bottom line: Wave Accounting is more expensive than ReconArt.

Features and functionality

As with any business software solutions, it’s important to consider the features & functionality. The tool should support the processes, workflows, reports and needs that matter to your team. To help you evaluate this, we've compared Wave Accounting Vs. ReconArt based on some of the most important and required Core Accounting features.
Wave Accounting: Accounts Payable, Accounts Receivable, Balance Sheet, Billing & Invoicing, Tax compliance, ..
ReconArt list of features include the following: We are still working to collect the list of features of ReconArt.

Target customer size

Wave Accounting is ideal for small to medium businesses with 9 or less employees. and ReconArt's target customer size include: Small business, Medium business.

Wave Accounting

ITQlick rating
(4.4/5)

Starting from $20 per month

Wave Accounting software is a fully integrated, web-based accounting solution tailored exclusively for small organizations. The software allows the users to access their documents any time from anywhere.

Categories: Accounting & Finance, Core Accounting, Medical Accounting.

ReconArt

ITQlick rating
(3.5/5)

Starting from $1,500 Per 5 users/month

ReconArt is a core accounting software that helps businesses to automate data import, reporting, and matching.

Categories: Accounting & Finance, Fixed Asset Management, Recurring Billing, Core Accounting, Fund Accounting.

Compare specifications

Wave Accounting Specifications

Name: Wave Accounting
Score: 194/100
Company: Wave Accounting
Address Toronto, ON, Canada
Pricing: Starting from $20 per month
Website:Visit Wave Accounting website
Platforms: Desktop, Mobile, Cloud

ReconArt Specifications

Name: ReconArt
Score: 169/100
Company: ReconArt
Address Alexandria, VA 22312, United States
Pricing: Starting from $1,500 Per 5 users/month
Website:Visit ReconArt website
Platforms: Desktop, Cloud

Compare features

Wave Accounting: 5 Features

Accounts Payable
Accounts Receivable
Balance Sheet
Billing & Invoicing
Tax compliance

ReconArt: 0 Features

We are working to collect the information
ITQlick rating ITQlick Rating is based on the software score (below) and aggregated online reviews
ITQlick score ITQlick Score is a 1 to 100, the calculation is based on pricing, and functionality Vs. alternative solutions
Pricing score pricing Score is a 1 to 10 (10 is high cost), based on the TCO (cost of licences, customizations, training, hardware when relevant) Vs. alternative solutions
License pricing license pricing (if provided by the software vendor)
Functionality score
Software review
Compare
Wave
ITQlick rating ITQlick Rating is based on the software score (below) and aggregated online reviews
ITQlick Score
97/100
Pricing score Pricing score ranges between 1 to 10 while 1 is low TCO and 10 is high TCO (TCO - total cost of ownership: cost of licences, customizations, training, hardware when relevant) Vs. alternative solutions
5.6/10
License pricing license pricing (if provided by the software vendor)
$20 per month
Functionality score
8
Software review
ReconArt
ITQlick rating ITQlick Rating is based on the software score (below) and aggregated online reviews
ITQlick Score
84/100
Pricing score Pricing score ranges between 1 to 10 while 1 is low TCO and 10 is high TCO (TCO - total cost of ownership: cost of licences, customizations, training, hardware when relevant) Vs. alternative solutions
3.8/10
License pricing license pricing (if provided by the software vendor)
$1,500 Per 5 users/month
Functionality score
6
Software review
QuickBooks
ITQlick rating ITQlick Rating is based on the software score (below) and aggregated online reviews
ITQlick Score
99/100
Pricing score Pricing score ranges between 1 to 10 while 1 is low TCO and 10 is high TCO (TCO - total cost of ownership: cost of licences, customizations, training, hardware when relevant) Vs. alternative solutions
5/10
License pricing license pricing (if provided by the software vendor)
$12.50 per month
Functionality score
7
Software review
Zoho
ITQlick rating ITQlick Rating is based on the software score (below) and aggregated online reviews
ITQlick Score
96/100
Pricing score Pricing score ranges between 1 to 10 while 1 is low TCO and 10 is high TCO (TCO - total cost of ownership: cost of licences, customizations, training, hardware when relevant) Vs. alternative solutions
2.4/10
License pricing license pricing (if provided by the software vendor)
$9 per month
Functionality score
9
Software review
Compare
FreshBooks
ITQlick rating ITQlick Rating is based on the software score (below) and aggregated online reviews
ITQlick Score
95/100
Pricing score Pricing score ranges between 1 to 10 while 1 is low TCO and 10 is high TCO (TCO - total cost of ownership: cost of licences, customizations, training, hardware when relevant) Vs. alternative solutions
2/10
License pricing license pricing (if provided by the software vendor)
$4.50 per month
Functionality score
28
Software review
Author
Shlomi Lavi - admin

Shlomi Lavi

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Shlomi holds a Bachelor of Science (B.Sc.) in Information System Engineering from Ben Gurion University in Israel. Shlomi brings 15 years of global IT and IS management experience as a consultant, and implementation expert for small, medium and large size (global) companies.