Wave Accounting - Top Competitors (Apr 2022)

Wave Accounting Review
ITQlick Score: 97/100
ITQlick Rating:
Pricing: 5.6/10 - average cost
Category: Core Accounting -> Wave Accounting review -> Wave Accounting competitors
Ranking:Ranked 2 out of 137 Core Accounting systems
Company: Wave Accounting
Typical customers: Small businesses and start ups
Platforms: Desktop, Mobile, Cloud
Links: Wave Accounting review, Wave Accounting pricing guide
Shlomi LaviShlomi Lavi / updated: Apr 14, 2022

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Wave Accounting vs. Alternatives in 2023

Wave Accounting competes with other small business accounting systems like Xero, QuickBooks Online, and ZarMoney. Here are ways in which this accounting software compares with its alternatives:
  • Functionality: Wave Accounting comes with basic features like recurring billing and invoicing, while compared with its close alternatives, ZarMoney has the features of Wave Accounting with additional features like Print Checks, Print Email Order, Order status, etc. QuickBooks Online has featured Wave Accounting features plus Track inventory, Manage budgets, Manage Employees, etc. Xero also has the features of Wave Accounting plus Capture Data, Bank Reconciliation, etc.
  • Costumers/Industries: Wave Accounting and its close alternatives are designed for small businesses or bookkeepers and accountants who need automation systems to make their work easier.
  • Cost: The Wave Accounting accounting team offers the software for free to small businesses. Compared to its alternatives, Xero has a license pricing starting from $22 per month, QuickBooks Online license plan starts from $8 per month, and ZarMoney license plan starts from $15 per user per month. According to expert cost research on Wave Accounting, the accounting software is cost-rated 2.8/5 compared to its alternatives. The rating systems consider accounting software rated 1-2.5 as low cost. 2.6 – 3.9 as average cost and 4-5 as high-cost, indicating that Wave Accounting is an average cost software compared to its alternatives.
  • Cloud-based/On-premise: All accounting softwares mentioned in this brief review are cloud-based systems, though Quickbooks Online has an on-premise version.
  • Popularity: Wave Accounting was founded in 2010 and currently has over 500,000 businesses using the software. Compared to its alternatives, ZarMoney was founded in 2006 and has thousands of customers all over the globe, and Xero was founded in 2006 and has more than 3 million users worldwide.
  • Scalability: Wave Accounting and Xero are designed for small businesses, ZarMoney and QuickBooks Online are designed to scale small businesses to medium and large enterprises.
  • Support: Wave Accounting has the following support channels Email/Help Desk, FAQs/Forum, Knowledge Base, and Chat, but missing 24/7 Live Rep and Phone support. Compared to its alternatives, Xero only misses Phone Support, while QuickBooks Online and ZarMoney are not missing any support channel.

Wave Accounting alternatives - for small & large Business

Here are the top 4 alternatives to Wave Accounting that are worth checking out: QuickBooks Online Plus for SMBs, Multiview for large size business, Zoho Books for growing companies, and Adminsoft Accounts for low budget organizations.

ITQlick rating ITQlick Rating is based on the software score (below) and aggregated online reviews
Score ITQlick Score is a 1 to 100 score, based on pricing, and functionality Vs. alternative solutions
Pricing pricing Score is a 1 to 10 score, 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
Review
Compare
Wave Acc...
ITQlick rating
4.4/5
Score
97/100
Pricing
5.6/10
License pricing
Pricing not available
Functionality
8
Best for SMBs
QuickBoo...
ITQlick rating
4.2/5
Score
99/100
Pricing
5/10
License pricing
$12.50 per month
Functionality
7
Best for Enterprise
Multivie...
ITQlick rating
4.6/5
Score
93/100
Pricing
3.8/10
License pricing
$150 per user/year
Functionality
53
Growing
Zoho Boo...
ITQlick rating
4.4/5
Score
96/100
Pricing
2.4/10
License pricing
$10 per organizer/month
Functionality
9
Compare
Free version
Adminsof...
ITQlick rating
4.4/5
Score
92/100
Pricing
6.8/10
License pricing
$259 per license
Functionality
13


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Shlomi Lavi is an entrepreneur and founder of ITQlick.com. He holds a Bachelor of Science (B.Sc.) in Information Systems Engineering from Ben Gurion University in Israel. Shlomi brings 17 years of global IT and IS management experience as a consultant and implementation expert for small, medium and large-sized (global) companies. Shlomi’s goal is to share the best knowledge and news about information systems so you can make smarter buying decisions for your business.