Although Wave is excellent accounting software for small
businesses, it offers only core accounting functions, so it isn't for everyone.
And because it's a free software, it comes with several limitations that may
make a paid software a better option for your business.
Here are three main shortcomings
that we found with Wave Accounting:
Customer service
One key feature that's not
available on the Wave Accounting software is customer support — at least not
for free. Although the company has an FAQ page, community forums, a knowledge
base, webinars, user guides and other sources of information, sometimes what
you really need is to speak with a live person. Whereas paid accounting software options come
with free live customer support, Wave requires you to purchase Premium
Services, which start at $9 per month. Paid support packages include live phone
and chat support and a direct line to Wave headquarters.
Payroll
Payroll services are not included either. Most
paid accounting software programs come with payroll services (either as a
built-in feature or third-party integration), but you'll need to pay for Wave
Payroll to use Wave Accounting to pay employees. Wave Payroll costs $15 per
month, plus $4 per employee per month. Besides the additional costs, this also
means you're forced to use Wave's own payroll tools, which limits your options
and may make payroll harder if you prefer to use your own payroll solution.
Advertisements
Wave is free because it uses
advertisements. In addition to posting ads while you're using the software
itself, Wave will also include its branding on communications sent to
customers, such as invoices and emails. There is currently no way to get rid of
advertisements, so if this is a major deal breaker, a paid accounting software
is for you.
To give you a better idea of
whether a paid accounting software
is better for your business, here's how Wave compares to the rest of our top
picks for the best accounting software
