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Accounting software review

Wave

Simple accounting for small businesses: the free Starter plan covers bills and invoices, and Pro at $19 a month adds automatic bank imports and unlimited users. It documents no POS connection and is only in English.

By WaveParent company: H&R Block, Inc.

RTC SCORE

7.3

#5 of 9 with enough data

Wave also offers: Payroll

Our verdict

A low, published price for bank feeds, reconciliation and bills with unlimited users. For a restaurant it stays basic: no POS link, no results by location and weekday-only chat support.

What we like

  • Low published price: Pro is $19 a month per business with unlimited users, so your accountant's login costs nothing extra.
  • Bills, invoices and bookkeeping records are unlimited, even on the free Starter plan.
  • Month to month with no early termination fee; you can export all your accounting data yourself.

What to watch

  • No POS connection documented: POS deposits arrive only through the bank feed, without sales, tips and tax split out.
  • No class, location or department tracking for results by location.
  • Live support only by chat and email on weekdays, with no phone line.
  • Subscriptions are non-refundable, even for a partly used month.

How the score breaks down

RTC Score7.3out of 10

Methodology v1.0.0

Data completeness100%

We could verify 100% of the scoring data

Strongest points
12-month cost (reference restaurant), Bank feeds, Initial term
Weakest point
POS data that reaches the books

Score by criterion

  • 12-month cost (reference restaurant)Weight 20%Strongest10.0 out of 10

    $228 over 12 months

  • POS data that reaches the booksWeight 8%Weakest0.0 out of 10
  • Bank feedsWeight 7%Strongest10.0 out of 10
  • POS systems that connectWeight 7%0.0 out of 10
  • Initial termWeight 7%Strongest10.0 out of 10
  • Bank reconciliationWeight 6%10.0 out of 10
  • Supplier billsWeight 6%10.0 out of 10
  • Live support channelsWeight 6%6.0 out of 10
  • Published pricingWeight 5%10.0 out of 10
  • Access for your accountantWeight 5%10.0 out of 10
  • Payroll into the booksWeight 5%5.0 out of 10
  • Early termination feeWeight 5%10.0 out of 10
  • Results by location or classWeight 4%0.0 out of 10
  • Live support hours a weekWeight 4%2.4 out of 10
  • Notice to avoid renewalWeight 3%10.0 out of 10
  • Customer invoicesWeight 2%10.0 out of 10

All the data, with sources

Each value links to its source. "Not published" means the vendor doesn't disclose it; "Unconfirmed" means we looked and couldn't confirm it. Data points we have for fewer than four vendors are left out until we can compare them.

Pricing
Data pointValue
Monthly price$19/moSource: Wave (opens in a new tab)Pro plan, per business. Promotion today: $9.50 a month for the first 3 months; not counted in the cost.
Monthly price if paid yearly$15.83/moSource: Wave (opens in a new tab)$190 a year, about $15.83 a month.
Users includedNo limitSource: Wave (opens in a new tab)On Pro you can invite Admins, Editors and Viewers; on the free Starter plan only a payroll manager or a Block Advisors tax pro.
Each extra user$0/moSource: Wave (opens in a new tab)Users are unlimited on Pro at no extra charge.
Published pricingPublishedSource: Wave (opens in a new tab)
Free planYesSource: Wave (opens in a new tab)Starter is free with bills, invoices and bookkeeping records, but bank transactions are entered or uploaded by hand, and only a payroll manager or a tax pro can be invited.
Other feesCard payments on invoices, if you add online payments: 2.9% + $0 (Amex 3.4% + $0) for the first 10 transactions a month on Pro, then 2.9% + $0.60 (Amex 3.4% + $0.60). Receipt scanning is included in Pro. Subscriptions are non-refundable. Payroll and Wave Advisors bookkeeping cost extra.Source: Wave (opens in a new tab)
Books and reconciliation
Data pointValue
Bank feedsAutomatic feeds from your bankSource: Wave (opens in a new tab)Automatic bank and card imports through Plaid are Pro only; on Starter you enter or upload transactions yourself.
Bank reconciliationYesSource: Wave Help Center (opens in a new tab)Only on the web version of Wave, not the mobile app.
Supplier bills (accounts payable)IncludedSource: Wave (opens in a new tab)Unlimited bills on every plan.
Customer invoices (accounts receivable)IncludedSource: Wave (opens in a new tab)
Results by location or classNot offeredSource: Wave Help Center (opens in a new tab)Wave does not document class, location or department tracking; we looked on its pricing and accounting pages and in its help center search.
Access for your accountantOwn login at no extra costSource: Wave (opens in a new tab)On Pro, users are unlimited, so your accountant gets an Admin, Editor or Viewer login at no extra cost. Role permissions cannot be customized.
Bookkeeping service from the vendorSold apartSource: Wave (opens in a new tab)Wave Advisors, from $149 a month in the US.
POS and payroll connections
Data pointValue
Connects with these POS systemsSource: Wave (opens in a new tab)No POS in Wave's integrations directory, no Wave page in Toast's partner directory, and no results for Square or point of sale in Wave's help center.
POS data that reaches the booksNo POS connection documentedSource: Wave (opens in a new tab)POS deposits arrive only as bank transactions through the bank feed. Wave points to Make.com, a general automation tool, for apps it does not list, but documents no POS workflow.
How payroll reaches the booksOnly its own payrollSource: Wave (opens in a new tab)Wave Payroll posts into the books; no outside payroll provider is in Wave's integrations directory.
Contract and exit
Data pointValue
Initial termMonth to monthSource: Wave (opens in a new tab)
Automatic renewalMonth to monthSource: Wave (opens in a new tab)Month to month, with no renewal term.
Notice to avoid renewal1 daySource: Wave (opens in a new tab)
Early termination feeNoneSource: Wave (opens in a new tab)Cancellation takes effect at the end of the billing period, with no refund for the unused part.
Early termination clauseNo early termination fee. Month to month; cancel at least one day before the renewal date and Pro stays active until the end of the period. Wave does not refund partially used periods.Source: Wave (opens in a new tab)
Right to raise pricesWave may change its fees at any time and makes commercially reasonable efforts to give at least 30 days' notice; if you do not accept a change, you can cancel before it takes effect (Subscription Terms of Service).Source: Wave (opens in a new tab)
Your records when you leaveYou can download them yourselfSource: Wave Help Center (opens in a new tab)An owner or Admin exports XLS or CSV files from the settings. Canceling Pro returns you to the free Starter plan, so the books stay open; if the account itself is closed, Wave may delete the data.
Support
Data pointValue
Live supportChat or messaging onlySource: Wave Help Center (opens in a new tab)Live chat and email for Pro subscribers; no phone line. On the free plan only the help center and the Mave chatbot.
Live support hours a week40Source: Wave Help Center (opens in a new tab)Monday to Friday, 9 a.m. to 5 p.m. Eastern, per the help center; the pricing page says until 4:45 p.m.
Language
Data pointValue
Software in SpanishNoSource: Wave Help Center (opens in a new tab)
Invoices in SpanishNoSource: Wave Help Center (opens in a new tab)You can type your own text in Spanish, but the invoice templates themselves are in English.
Support in SpanishNoSource: Wave Help Center (opens in a new tab)Wave's support page offers no Spanish service, and Wave says the product is only available in English.
Website in Spanish for the USNoSource: Wave (opens in a new tab)The sitemap (939 pages) has no Spanish pages.

More about Wave

How we score