Akaunting vs. Wave Accounting

Overview
ProductRatingMost Used ByProduct SummaryStarting Price
Akaunting
Score 5.0 out of 10
N/A
Akaunting is an online accounting software that enables the user to track income and expenses, from the company of the same name in Istanbul. The company offers a free version of its product.
$12
per month
Wave Accounting
Score 8.2 out of 10
N/A
Wave Accounting is a free, cloud-based accounting platform exclusively for small businesses. It supports double-entry bookkeeping and permits unlimited user access, invoicing, and expense management. Wave Accounting integrates with Wave's invoicing, receipt scanning, payment processing and payroll apps.
$0
Pricing
AkauntingWave Accounting
Editions & Modules
Standard Cloud
$12
per month
Premium Cloud
$36
per month
Elite Cloud
$84
per month
Ultimate Cloud
$218
per month
Starter
$0
Pro
$16
per month
Pro - billed annually
$170
per year
Offerings
Pricing Offerings
AkauntingWave Accounting
Free Trial
YesNo
Free/Freemium Version
NoYes
Premium Consulting/Integration Services
NoNo
Entry-level Setup FeeNo setup feeNo setup fee
Additional DetailsDiscounts available for annual pricing.
More Pricing Information
Community Pulse
AkauntingWave Accounting
Features
AkauntingWave Accounting
Security
Comparison of Security features of Product A and Product B
Akaunting
7.0
Ratings
17% below category average
Wave Accounting
6.4
Ratings
26% below category average
Role-based user permissions7.00 Ratings6.40 Ratings
Single sign-on capability00 Ratings6.40 Ratings
Reporting & Analytics
Comparison of Reporting & Analytics features of Product A and Product B
Akaunting
8.3
Ratings
5% above category average
Wave Accounting
6.3
Ratings
22% below category average
Dashboards9.00 Ratings6.00 Ratings
Standard reports7.00 Ratings8.00 Ratings
Custom reports9.00 Ratings5.00 Ratings
General Ledger and Configurable Accounting
Comparison of General Ledger and Configurable Accounting features of Product A and Product B
Akaunting
6.0
Ratings
26% below category average
Wave Accounting
7.0
Ratings
11% below category average
Accounts payable3.00 Ratings7.10 Ratings
Accounts receivable5.00 Ratings7.10 Ratings
Multi-currency support9.00 Ratings10.00 Ratings
Self-service portal5.00 Ratings8.00 Ratings
Localizations8.00 Ratings5.20 Ratings
Cash management00 Ratings8.50 Ratings
Bank reconciliation00 Ratings8.50 Ratings
Expense management00 Ratings7.50 Ratings
Time tracking00 Ratings9.80 Ratings
Fixed asset management00 Ratings9.80 Ratings
Multi-division support00 Ratings7.10 Ratings
Regulations compliance00 Ratings5.00 Ratings
Electronic tax filing00 Ratings5.90 Ratings
Global Financial Support00 Ratings9.00 Ratings
Primary and Secondary Ledgers00 Ratings9.00 Ratings
Intercompany Accounting00 Ratings4.00 Ratings
Journals and Reconciliations00 Ratings8.50 Ratings
Enterprise Accounting00 Ratings4.00 Ratings
Configurable Accounting00 Ratings5.00 Ratings
Centralized Rules Framework00 Ratings1.00 Ratings
Standardized Processes00 Ratings7.00 Ratings
Order Management
Comparison of Order Management features of Product A and Product B
Akaunting
8.5
Ratings
10% above category average
Wave Accounting
7.6
Ratings
2% below category average
Pricing9.00 Ratings9.90 Ratings
Order entry8.00 Ratings10.00 Ratings
Credit card processing8.00 Ratings2.30 Ratings
Cost of goods sold9.00 Ratings10.00 Ratings
Order Orchestration00 Ratings5.80 Ratings
End-to-end order visibility00 Ratings8.20 Ratings
Order exception Resolution00 Ratings7.00 Ratings
Customization
Comparison of Customization features of Product A and Product B
Akaunting
10.0
Ratings
27% above category average
Wave Accounting
8.5
Ratings
11% above category average
Plug-ins10.00 Ratings7.00 Ratings
API for custom integration00 Ratings9.90 Ratings
Payroll Management
Comparison of Payroll Management features of Product A and Product B
Akaunting
-
Ratings
Wave Accounting
6.2
Ratings
22% below category average
Pay calculation00 Ratings7.10 Ratings
Benefit plan administration00 Ratings7.50 Ratings
Direct deposit files00 Ratings1.20 Ratings
Salary revision and increment management00 Ratings7.70 Ratings
Reimbursement management00 Ratings7.40 Ratings
Inventory Management
Comparison of Inventory Management features of Product A and Product B
Akaunting
-
Ratings
Wave Accounting
8.1
Ratings
10% above category average
Inventory tracking00 Ratings5.60 Ratings
Automatic reordering00 Ratings9.90 Ratings
Location management00 Ratings8.10 Ratings
Manufacturing module00 Ratings9.00 Ratings
User Ratings
AkauntingWave Accounting
Likelihood to Recommend
5.0
(0 ratings)
6.0
(0 ratings)
Likelihood to Renew
-
(0 ratings)
7.8
(0 ratings)
Usability
8.0
(0 ratings)
7.0
(0 ratings)
Availability
-
(0 ratings)
6.7
(0 ratings)
Performance
-
(0 ratings)
2.9
(0 ratings)
Support Rating
5.0
(0 ratings)
2.1
(0 ratings)
Online Training
-
(0 ratings)
4.7
(0 ratings)
Product Scalability
-
(0 ratings)
3.0
(0 ratings)
User Testimonials
AkauntingWave Accounting
Likelihood to Recommend
If anyone is searching for cloud-based Accounting software and have never used any accounting software before, then Akaunting is perfect for them. They can easily use it which will help me a lot. It has a beautiful UI and a simple one which makes it easy to use for everyone. A small business and a starting business are a good fit for this software.
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Wave is free to use, and they have some premium features you can pay for. For someone just starting out as a small business, freelancer or independent contractor, this is a Godsend. You can look professional, have something easy to manage, and yet also have excellent records come the end of the year. You won't spend a bunch of time having to learn the program, it's very intuitive and you get a host of great features that will make getting paid easy.
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Pros
  • Easy to use.
  • Can be installed into own hosting.
  • Have lots of features.
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  • The dashboard provides instant views of month-by month income & expenses for the past 12-24 months, a breakdown of current year expense by category, and net income for the past year and year-to-date.
  • Invoicing has easy templated set up has lots of per invoice options such as single/recurring payment options, due dates.
  • Year end reports are easy to generate in either pdf or csv format.
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Cons
  • They should make their add ons more cheaper.
  • And they should make few add ons free which are essential.
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  • One area of improvement for Wave would be combining the various mobile applications into one app.
  • Another room for improvement would be on the dashboard level. It would be great if they could use more bar graphs and get away from pie charts for things like expenses.
  • Some of the other areas from improvement have been addressed by recent updates so I am excited to see what else Wave brings out.
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Likelihood to Renew
No answers on this topic
Easy to use for clients with no accounting background and the price is right.
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Usability
Because I loved this software and I want others to know about it too, it will surely help many others who are searching for simple accounting software like I was searching some time ago.
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Wave [Accounting] is very simple and easy to use. Minimal training was required for all our users as the interface is very user-friendly, especially for small businesses looking to use something to track their financial data, Invoice and make payments. I loved using Wave [Accounting]. It lookes professional and [has] all the features we were looking for.
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Reliability and Availability
No answers on this topic
WAVE is always available when we need it ! Peter
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Performance
No answers on this topic
Wave does tend to slow down when filtering your transactions screen especially by date. This is more of an issue when trying to trouble shoot certain transactions or clean-up a set of books.
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Support Rating
I have never tried to call their support, but checking their documentation and FAQs, etc helped me a lot so they deserved this rating...
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I've only had to reach out to support once and they were quick to respond and offered valuable insight to resolve my issue quickly. The team is knowledgeable and if the person you're dealing with doesn't have an answer for you, they get back to you quickly with an answer. It was clear that the support team is genuinely concerned about users making the most of the software.
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Online Training
No answers on this topic
easy to use and east to train on ! Our WAVE clients enjoy the ease of use
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Alternatives Considered
It is very easy to use and get started with. It can be installed into my own hosting easily and is open source too which means I can add more features myself if I know programming.
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Wave's price point was in line with what my company needed to manage basic accounting (payable and receivable accounts). It made it easy for me to issue monthly invoices to clients and track when invoices were paid. The software makes these tasks easy to manage and inputting data for accurate accounting and invoicing is a breeze. It really offers a lot of flexibility, so you can use the software the way you need it.
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Scalability
No answers on this topic
Once they out grow what is ability to move up to a more robust system?
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Return on Investment
  • Akaunting has helped me a lot since I started using it.
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  • Wave has enabled our accounts payable to maintain a 99% closure rate by leveraging auto reminders through the email system.
  • Our quote to invoice process is a single click, saving time and effort. Even minor changes during that transition occur simply and easily.
  • Aside from payments, Wave has been free for our usage. Our bottom line is better because we're not investing in software but instead embracing an entire ecosystem.
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ScreenShots