Wave Features
What are the features of Wave?
General Ledger
- Journal Entries
- Tags / Dimensions
Accounts Receivable
- Invoice Customization
- AR Automation
- Collections Automation
Accounts Payable
- Payment Processing
Other Functionality
- Reconciliations
Reporting & Analytics
- Financial Statements
- Custom Reporting
- Dashboards
Platform
- Customization
- User, Role, and Access Management
- Performance and Reliability
- Output Document Generation
Integration
- Data Import and Export Tools
Top Rated Wave Alternatives
Wave Categories on G2
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General Ledger
Journal Entries | Based on 45 Wave reviews and verified by the G2 Product R&D team. Increases user efficiency by auto-populating based on previously entered information. Schedules future entries. Allows Journal Entries to be uploaded from an external source. | 80% (Based on 45 reviews) | |
Tags / Dimensions | Based on 36 Wave reviews and verified by the G2 Product R&D team. Ability to tag all transaction in the general ledger with customizable dimensions, classes, categories, etc. These dimensions should be available on any transaction in any module in the system and available to be reported upon. | 79% (Based on 36 reviews) | |
Audit Trail | Based on 35 Wave reviews and verified by the G2 Product R&D team. Automates chronological tracking of transactions that have affected a specific operation, procedure, event or record | 76% (Based on 35 reviews) |
Accounts Receivable
Invoice Customization | The layout of the invoice template is fully customizable and you can add or remove fields. This feature was mentioned in 63 Wave reviews. | 87% (Based on 63 reviews) | |
AR Automation | Based on 44 Wave reviews and verified by the G2 Product R&D team. Automation helps the user be more efficient by populating default customer data, setting up systematic payments from clients and automatically matching customer receipts to outstanding transactions. | 82% (Based on 44 reviews) | |
Collections Automation | Based on 38 Wave reviews and verified by the G2 Product R&D team. The system automates the dunning process to help drive collections | 81% (Based on 38 reviews) |
Accounts Payable
AP Automation | As reported in 27 Wave reviews. Steamlines data entry by auto populating recurring or predefined vendor values | 78% (Based on 27 reviews) | |
Payment Processing | Based on 42 Wave reviews and verified by the G2 Product R&D team. Ability to manage, track and report on numerous payment types. Customize and automate complex purchase to pay work flow. | 82% (Based on 42 reviews) | |
Purchase Orders | Based on 23 Wave reviews and verified by the G2 Product R&D team. Software supports purchase orders and provides purchasing personnel, management and accounts payable with visibility needed to streamline the procure to pay process | 72% (Based on 23 reviews) |
Other Functionality
Inventory Tracking / Ordering | Based on 19 Wave reviews and verified by the G2 Product R&D team. Real time inventory tracking. Maintains accurate "On Hand" infomation by matching reserved inventory requested on purchase and sales orders. | 70% (Based on 19 reviews) | |
Inventory Pricing and Costing | Based on 21 Wave reviews and verified by the G2 Product R&D team. Ability to establish multiple price levels. Update pricing on a per item or global inventory basis. Choice between multiple costing methods such as Average, LIFO, FIFO and Specific Unit. | 73% (Based on 21 reviews) | |
Inventory Reporting | See feature definition | Customizable reporting allows insight into usage of inventory and services. This feature was mentioned in 20 Wave reviews. | 69% (Based on 20 reviews) |
Multi-Entity / Consolidation | Based on 23 Wave reviews and verified by the G2 Product R&D team. Multi-ledger and multi-tenant architecture. Automated consolidations, inter-entity transactions and eliminations | 73% (Based on 23 reviews) | |
Recognition Rules | Based on 24 Wave reviews and verified by the G2 Product R&D team. Automates recognition of revenue and expenses by defining recognition rules. | 74% (Based on 24 reviews) | |
Reconciliations | Based on 36 Wave reviews and verified by the G2 Product R&D team. Transactions are imported from source systems and automated matching reconciles majority of transactions. Includes user flexible, user defined matching and grouping rules to help reduce the time needed to produce accurate reconciliations. | 77% (Based on 36 reviews) | |
Payroll | Based on 19 Wave reviews and verified by the G2 Product R&D team. Payroll module or integration to an external payroll provider which automates the recording of payroll | 72% (Based on 19 reviews) | |
Time and Expense | Based on 18 Wave reviews and verified by the G2 Product R&D team. Automated time and expense capture, tracking, approval, reimbursement and reporting | 73% (Based on 18 reviews) |
Reporting & Analytics
Financial Statements | Based on 64 Wave reviews and verified by the G2 Product R&D team. General reporting offered covers all of the standard financial statements and meets the basic needs of the business | 83% (Based on 64 reviews) | |
Custom Reporting | Based on 51 Wave reviews and verified by the G2 Product R&D team. Reports created by the user to cater to specific requirements. If you can build it in Excel, you can build it in the custom report writer | 78% (Based on 51 reviews) | |
Budgeting / Forecasting | Based on 32 Wave reviews and verified by the G2 Product R&D team. Create and revise an unlimited number of budget, plan and forecast scenarios. | 79% (Based on 32 reviews) | |
Dashboards | Based on 62 Wave reviews and verified by the G2 Product R&D team. An easy to read, often single page, real-time user interface, showing a graphical presentation of the current status and historical trends of an organization's Key Performance Indicators (KPIs) to enable instantaneous and informed decisions to be made at a glance | 87% (Based on 62 reviews) |
Platform
Customization | Based on 51 Wave reviews and verified by the G2 Product R&D team. Allows administrators to customize to accommodate their unique process. Includes ability to create custom objects, fields, rules, calculations, and views. | 76% (Based on 51 reviews) | |
Workflow Capability | Based on 33 Wave reviews and verified by the G2 Product R&D team. Automates a process that requires a series of steps that typically require intervention by several different users. Administrators can write rules to determine who and when a user needs to complete a step. Also includes notification of users when they need to take action. | 77% (Based on 33 reviews) | |
User, Role, and Access Management | Based on 47 Wave reviews and verified by the G2 Product R&D team. Grants access to select data, features, objects, etc. based on the users, user role, groups, etc. | 79% (Based on 47 reviews) | |
Internationalization | Based on 21 Wave reviews and verified by the G2 Product R&D team. Enables users to view and transact business with the same content in multiple languages and currencies. | 75% (Based on 21 reviews) | |
Performance and Reliability | Based on 56 Wave reviews and verified by the G2 Product R&D team. Software is consistently available (uptime) and allows users to complete tasks quickly because they are not waiting for the software to respond to an action they took. | 84% (Based on 56 reviews) | |
Output Document Generation | Based on 46 Wave reviews and verified by the G2 Product R&D team. Allows administrators to create templates that enable users to quickly generate dynamic documents in various formats based on the data stored in the application.
| 80% (Based on 46 reviews) |
Integration
Data Import and Export Tools | Based on 41 Wave reviews and verified by the G2 Product R&D team. Ability to input, modify and extract data from the application in bulk through a structured file. | 81% (Based on 41 reviews) | |
Integration APIs | As reported in 24 Wave reviews. Application Programming Interface - Specification for how the application communicates with other software. API's typically enable integration of data, logic, objects, etc with other software applications. | 77% (Based on 24 reviews) | |
Breadth of Partner Applications | Based on 24 Wave reviews and verified by the G2 Product R&D team. To what extent are there partner applications readily available for integrating into this product? Partner applications typically provide complementary, best of breed functionality not offered natively in this product. | 71% (Based on 24 reviews) | |
Accounting | Provide integration with accounting and financial management software 30 reviewers of Wave have provided feedback on this feature. | 82% (Based on 30 reviews) | |
Payments | Integrates with other payments software 27 reviewers of Wave have provided feedback on this feature. | 84% (Based on 27 reviews) | |
ERP | Deliver integrations with accounting modules of ERP systems This feature was mentioned in 14 Wave reviews. | 74% (Based on 14 reviews) |
Cash Flow
Track Cash Flow | Based on 24 Wave reviews and verified by the G2 Product R&D team. Check cash on hand at the beginning of each month and view each day’s incoming and outgoing funds. | 81% (Based on 24 reviews) | |
Income and Expenses | Based on 27 Wave reviews and verified by the G2 Product R&D team. Add one-time or recurring cash flow items and add line items for each payment or deposit. | 84% (Based on 27 reviews) | |
File Exports | Based on 20 Wave reviews and verified by the G2 Product R&D team. Timesheets, projects, tasks, income or expenses can all easily be exported to pdf, xls or csv for simpel cash clow analysis. | 78% (Based on 20 reviews) |
Budgeting & Forecasting
Budgeting / Forecasting | Based on 32 Wave reviews and verified by the G2 Product R&D team. Create and revise an unlimited number of budget, plan and forecast scenarios. | 79% (Based on 32 reviews) | |
Data Import | Based on 17 Wave reviews and verified by the G2 Product R&D team. Import trial balance, monthly P&L, balance sheets, and other types of financial data | 75% (Based on 17 reviews) | |
Versioning | Based on 11 Wave reviews and verified by the G2 Product R&D team. Keeps track of all versions of a budget and allows users to compare versions | 71% (Based on 11 reviews) | |
Historical Data | Based on 19 Wave reviews and verified by the G2 Product R&D team. Forecasting is based on past transactions and historical financial or operational data | 75% (Based on 19 reviews) |
Revenue
Revenue Types | Based on 20 Wave reviews and verified by the G2 Product R&D team. Supports multiple types of revenues, such as recurring and transaction based | 83% (Based on 20 reviews) | |
Revenue Allocation | Based on 15 Wave reviews and verified by the G2 Product R&D team. Allows users to allocate revenues to various business entities or departments | 79% (Based on 15 reviews) | |
Scheduling | As reported in 13 Wave reviews. Automatic scheduling to ensure that revenue is recognized at the proper time | 78% (Based on 13 reviews) |
Payroll
Direct Deposit | Based on 13 Wave reviews and verified by the G2 Product R&D team. Automatically deposits paychecks into employees' bank accounts. | 77% (Based on 13 reviews) | |
Check/W-2 Printing | Based on 10 Wave reviews. Allows administrators to print valid paychecks and W-2 forms. | 68% (Based on 10 reviews) | |
Tax Calculation | Based on 13 Wave reviews and verified by the G2 Product R&D team. Calculates taxes due and may include resources or tools for federal and state tax compliance. | 72% (Based on 13 reviews) | |
Reporting and Dashboards | Based on 17 Wave reviews and verified by the G2 Product R&D team. Access pre-built and custom reports and dashboards to track payroll costs and for compliance purposes. | 79% (Based on 17 reviews) |
Bill Generation
Templates | As reported in 30 Wave reviews. Provide standard invoice templates that can be customized by users | 81% (Based on 30 reviews) | |
Digital Billing | Ability to convert invoices to digital formats such as PDF 33 reviewers of Wave have provided feedback on this feature. | 85% (Based on 33 reviews) | |
Recurring Billing | Automatically generates invoices at pre-defined time intervals This feature was mentioned in 29 Wave reviews. | 83% (Based on 29 reviews) |
Bill Processing
Consolidation | Allow users to consolidate multiple invoices into one 21 reviewers of Wave have provided feedback on this feature. | 79% (Based on 21 reviews) | |
Batch Invoicing | Ability to create multiple types of invoices 19 reviewers of Wave have provided feedback on this feature. | 81% (Based on 19 reviews) | |
Management | Manage invoicing for different types of products or services This feature was mentioned in 31 Wave reviews. | 83% (Based on 31 reviews) |
AI
Data Extraction | Uses AI to automatically input data from receipts, invoices, and other documents | Not enough data | |
Invoice Processing | Uses AI to generates, send, and track invoices | Not enough data | |
Expense Management | Uses AI to categorize expenses, detect anomalies, and provide insights on spending patterns | Not enough data | |
Fraud Detection | Uses AI to detect unusual patterns and flag potential fraudulent activities in real-time | Not enough data | |
Tax Compliance | Uses AI to assist in calculating taxes, ensuring compliance with changing tax regulations, and automate the preparation of tax returns | Not enough data | |
Support Chatbots | Uses AI and NLP-powered chatbots to provide customer support and assist with queries regarding financial data and reports | Not enough data | |
Bank Reconciliations | Uses AI to match transactions recorded in the accounting system with those in bank statements | Not enough data | |
Report Generation | Uses AI to generate detailed financial reports, dashboards, and visualizations to provide insights into the financial health of the business | Not enough data | |
Customizable Alerts | Uses AI to set up alerts for various financial activities, such as payment due dates or low cash balances | Not enough data | |
Predictive Analytics | Uses AI to analyze data to identify trends and make predictions | Not enough data |
Mobile Applications - Accounting
Cloud Integration | Enables synchronization of accounting data across devices in real-time | Not enough data | |
Notifications | Send push notifications for important updates, such as due dates, invoice statuses, or tax deadlines | Not enough data | |
UI | Simplifies interfaces to be user-friendly and tailored for smaller screens, such as mobile phones and tables | Not enough data | |
Offline | Allows users to view and update certain data without an internet connection | Not enough data | |
Expense Tracking | Allows users to capture and upload expense receipts directly from mobile devices | Not enough data | |
Invoice Management | Enables creation, editing, and sending of invoices | Not enough data |
