Wave Accounting Vs Xero

Shlomi LaviShlomi Lavi / Apr 29, 2021

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Bottom Line: Which is Better - Wave Accounting or Xero?

Wave Accounting is more expensive to implement (TCO) than Xero, Wave Accounting is rated higher (97/100) than Xero (94/100). Xero offers more features (13) to their users than Wave Accounting (5).

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:

How Wave Accounting compares with Xero ?

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.

Xero : Xero was founded in July 2006 by successful technology entrepreneur Rod Drury and specialist small business accountant Hamish Edwards. Xero is listed on the New Zealand Stock Exchange and the Australian Securities Exchange and is a fast growing company with teams in Wellington, Auckland, Melbourne, Sydney, Brisbane, San Francisco, and Milton Keynes...

Who's more expensive? Wave Accounting or Xero?

The real total cost of ownership (TCO) of Core Accounting software includes the software license, subscription fees, software training, customizations, hardware (if needed), maintenance & support and other related services. When calculating the TCO it's important to add all of these "hidden cost" as well. We prepared a TCO calculator for Wave Accounting and Xero.

Wave Accounting price Starting from $49 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. Xero price starts at $20 per month , when comparing Xero 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 Xero.

Which software includes more/better features?

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. Xero based on some of the most important and required Core Accounting features. Wave Accounting: Accounts Payable, Accounts Receivable, Balance Sheet, Billing & Invoicing, Tax compliance. Xero: Accounts Payable, Accounts Receivable, Billing & Invoicing, Budgeting & Forecasting, Fixed-Assets.

Target customer size

Wave Accountancy is perfect for small to medium companies with 9 or much less workers. Xero is best for small businesses, freelancers and non-profit organizations.

Wave Accounting

ITQlick rating
(4.4/5)

Starting from $49 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.

Xero

ITQlick rating
(4.3/5)

starts at $20 per month

Xero is a cloud-based accounting and finance software for small, start-up, and growing enterprises. It has invoice management, purchasing, bank reconciliation, and bookkeeping features which help businesses boo...

Categories: Accounting & Finance, Fixed Asset Management, Recurring Billing, Billing & Invoicing, Budgeting & CPM.

Compare specifications

Xero Specifications

ITQlick Score: 94/100
ITQlick Rating: (4.3/5)
Pricing: 2/10 - low cost
Category: Core Accounting -> Xero
Company: Xero
Pricing: starts at $20 per month
Typical customers: Small businesses and start ups
Platforms: Desktop, Mobile, Cloud
Links: Xero review, Xero pricing, Xero alternatives

Compare features

Wave Accounting: 5 Features

Accounts Payable
Accounts Receivable
Balance Sheet
Billing & Invoicing
Tax compliance

Xero: 13 Features

Accounts Payable
Accounts Receivable
Billing & Invoicing
Budgeting & Forecasting
Fixed-Assets
Purchase Orders
Data Analysis Tools
Forecasting
Fixed Asset Management
Inventory Optimization
Supplier Management
Warehouse Management
Inventory Management
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
4.4/5
Score
97/100
Pricing
5.6/10
License pricing
Pricing not available
Functionality
8
Review
Compare
Xero
ITQlick rating
4.3/5
Score
94/100
Pricing
2/10
License pricing
$20 per month
Functionality
46
Review
Compare
QuickBooks
ITQlick rating
4.2/5
Score
99/100
Pricing
5/10
License pricing
$12.50 per month
Functionality
7
Zoho
ITQlick rating
4.4/5
Score
96/100
Pricing
2.4/10
License pricing
$10 per organizer/month
Functionality
9
Review
Compare
FreshBooks
ITQlick rating
4.5/5
Score
95/100
Pricing
2/10
License pricing
$4.50 per month
Functionality
28
Author

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.