Shlomi Lavi /
Apr 14, 2022
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Bottom Line: Which is Better - WIP Accounting or Wave Accounting?
Wave Accounting is more expensive to implement (TCO) than WIP Accounting, and Wave Accounting is rated higher (97/100) than WIP Accounting (50/100). Wave Accounting offers users more features (5) than WIP Accounting (0).
Looking for the right Core Accounting solution for your business? Buyers are primarily concerned about the real total cost of implementation (TCO), the full list of features, vendor reliability, user reviews, and the pros and cons. In this article we compare between the two software products:
WIP Software Vs. Wave Accounting
WIP Software: WIP is a common acronym used in business to identify "Work In Progress". The day-to-day operations of any organization involves work being done, data being collected, stored and entered into an accounting system. The accounting system is then used to track, process and report on financial activities to meet tax obligations and measure past performa...
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.
Who is more expensive? WIP Accounting or Wave Accounting?
The real total cost of ownership (TCO) of Core Accounting software includes the software license, subscription fees, software training, customizations, hardware (if needed), maintenance and support and other related services. When calculating the TCO, it's important to add all of these ”hidden costs” as well. We prepared a TCO (Total Cost) calculator for WIP Accounting and Wave Accounting.
WIP Accounting price starts at $34.99 per user/month , On a scale between 1 to 10 WIP Accounting is rated 4, which is lower than the average cost of Core Accounting software. Wave Accounting accurate pricing info is available upon request (they don't share it publicly), however , On a scale between 1 to 10 WIP Accounting is rated 4, which is lower than the average cost of Core Accounting software.
Bottom line: WIP Accounting cost is around the same cost of Wave Accounting.
Which software includes more/better features?
We've compared WIP Accounting Vs. Wave Accounting based on some of the most important and required Core Accounting features.
WIP Accounting: We are still working to collect the list of features for WIP Accounting.
Wave Accounting: Accounts Payable, Accounts Receivable, Balance Sheet, Billing & Invoicing, Tax compliance.
Target customer size
WIP Accounting's typical customers include: SMBs, Wave Accountancy is perfect for small to medium companies with 9 or much less workers.