Wave Features

General Ledger (3)

Journal Entries: Based on 54 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.
Tags / Dimensions: Based on 45 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.
Audit Trail: Based on 44 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

Accounts Receivable (3)

Invoice Customization: As reported in 72 Wave reviews. The layout of the invoice template is fully customizable and you can add or remove fields.
AR Automation: Based on 53 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.
Collections Automation: Based on 47 Wave reviews and verified by the G2 Product R&D team. The system automates the dunning process to help drive collections

Accounts Payable (3)

AP Automation: Based on 36 Wave reviews. Steamlines data entry by auto populating recurring or predefined vendor values
Payment Processing: Based on 51 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.
Purchase Orders: Based on 32 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

Other Functionality (8)

Inventory Tracking / Ordering: Based on 27 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.
Inventory Pricing and Costing: Based on 29 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.
Inventory Reporting: Customizable reporting allows insight into usage of inventory and services. This feature was mentioned in 28 Wave reviews.
Multi-Entity / Consolidation: Based on 31 Wave reviews and verified by the G2 Product R&D team. Multi-ledger and multi-tenant architecture. Automated consolidations, inter-entity transactions and eliminations
Recognition Rules: Based on 32 Wave reviews and verified by the G2 Product R&D team. Automates recognition of revenue and expenses by defining recognition rules.
Reconciliations: Based on 44 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.
Payroll: Based on 27 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
Time and Expense: Based on 26 Wave reviews and verified by the G2 Product R&D team. Automated time and expense capture, tracking, approval, reimbursement and reporting

Reporting & Analytics (4)

Financial Statements: Based on 72 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
Custom Reporting: Based on 59 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
Budgeting / Forecasting: Based on 40 Wave reviews and verified by the G2 Product R&D team. Create and revise an unlimited number of budget, plan and forecast scenarios.
Dashboards: Based on 70 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

Platform (6)

Customization: Based on 58 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.
Workflow Capability: Based on 40 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.
User, Role, and Access Management: Based on 54 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.
Internationalization: Based on 28 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.
Performance and Reliability: Based on 64 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.
Output Document Generation: Based on 53 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.

Integration (6)

Data Import and Export Tools: Based on 49 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.
Integration APIs: As reported in 31 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.
Breadth of Partner Applications: Based on 31 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.
Accounting: Provide integration with accounting and financial management software This feature was mentioned in 37 Wave reviews.
Payments: Integrates with other payments software This feature was mentioned in 33 Wave reviews.
ERP: Deliver integrations with accounting modules of ERP systems 19 reviewers of Wave have provided feedback on this feature.

Cash Flow (3)

Track Cash Flow: Based on 32 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.
Income and Expenses: Based on 35 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.
File Exports: Based on 28 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.

Budgeting & Forecasting (4)

Budgeting / Forecasting: Based on 40 Wave reviews and verified by the G2 Product R&D team. Create and revise an unlimited number of budget, plan and forecast scenarios.
Data Import: Based on 23 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
Versioning: Based on 17 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
Historical Data: Based on 27 Wave reviews and verified by the G2 Product R&D team. Forecasting is based on past transactions and historical financial or operational data

Revenue (3)

Revenue Types: Based on 28 Wave reviews and verified by the G2 Product R&D team. Supports multiple types of revenues, such as recurring and transaction based
Revenue Allocation: Based on 23 Wave reviews and verified by the G2 Product R&D team. Allows users to allocate revenues to various business entities or departments
Scheduling: Automatic scheduling to ensure that revenue is recognized at the proper time This feature was mentioned in 21 Wave reviews.

Payroll (4)

Direct Deposit: Based on 20 Wave reviews and verified by the G2 Product R&D team. Automatically deposits paychecks into employees' bank accounts.
Check/W-2 Printing: As reported in 17 Wave reviews. Allows administrators to print valid paychecks and W-2 forms.
Tax Calculation: Based on 20 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.
Reporting and Dashboards: Based on 25 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.

Bill Generation (3)

Bill Processing (3)

AI (10)

Data Extraction: Uses AI to automatically input data from receipts, invoices, and other documents
Invoice Processing: Uses AI to generates, send, and track invoices
Expense Management: Uses AI to categorize expenses, detect anomalies, and provide insights on spending patterns
Fraud Detection: Uses AI to detect unusual patterns and flag potential fraudulent activities in real-time
Tax Compliance: Uses AI to assist in calculating taxes, ensuring compliance with changing tax regulations, and automate the preparation of tax returns
Support Chatbots: Uses AI and NLP-powered chatbots to provide customer support and assist with queries regarding financial data and reports
Bank Reconciliations: Uses AI to match transactions recorded in the accounting system with those in bank statements
Report Generation: Uses AI to generate detailed financial reports, dashboards, and visualizations to provide insights into the financial health of the business
Customizable Alerts: Uses AI to set up alerts for various financial activities, such as payment due dates or low cash balances
Predictive Analytics: Uses AI to analyze data to identify trends and make predictions

Mobile Applications - Accounting (6)

Cloud Integration: Enables synchronization of accounting data across devices in real-time
Notifications: Send push notifications for important updates, such as due dates, invoice statuses, or tax deadlines
UI: Simplifies interfaces to be user-friendly and tailored for smaller screens, such as mobile phones and tables
Offline: Allows users to view and update certain data without an internet connection
Expense Tracking: Allows users to capture and upload expense receipts directly from mobile devices
Invoice Management: Enables creation, editing, and sending of invoices