Wave Accounting vs Board

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Our analysts compared Wave Accounting vs Board based on data from our 400+ point analysis of Accounting Software, user reviews and our own crowdsourced data from our free software selection platform.

Wave Accounting Software Tool
Board Software Tool

Product Basics

Wave Accounting streamlines financial management for small businesses and freelancers. Its intuitive interface simplifies bookkeeping tasks like expense tracking, invoicing, and receipt scanning. Users praise its ease of use and mobile accessibility, making it ideal for entrepreneurs on the go. Wave offers core accounting features like bank reconciliation and income/expense reports, all for free. Premium plans unlock advanced functionalities like payroll, double-entry bookkeeping, and tax filing for an affordable monthly fee. Compared to similar products, Wave shines in user experience. Reviews highlight its intuitive design, helpful tutorials, and responsive customer support. However, its free plan lacks features crucial for larger businesses, requiring an upgrade for robust accounting needs. Ultimately, Wave excels as a beginner-friendly, cost-effective solution for solopreneurs and small teams seeking hassle-free financial management.

Pros
  • Free core features
  • Easy to use interface
  • Mobile-friendly design
  • Excellent customer support
  • Free bank reconciliation
Cons
  • Limited features in free plan
  • No inventory tracking
  • No double-entry accounting
  • Few integrations with other software
  • Limited reporting options
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Board Intelligent Planning Platform is a business planning tool that gives companies of all sizes resources to empower themselves and develop better, future-proof practices. It’s especially useful to businesses that have financial, supply chain, sales and operations, and merchandise and retail planning needs.

The software utilizes the Microsoft Azure cloud to give users access from any connected device and uses a low-code customization environment so even the least experienced programmer can optimize its workflow for whatever their company requires.

Pros
  • Easy to use interface
  • Collaborative planning
  • Data visualization tools
  • Flexible reporting options
  • Scalable for future growth
Cons
  • Limited free plan features
  • Can be expensive for large teams
  • Learning curve for advanced features
  • May not integrate with all software
  • Limited customization options
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$20 Monthly
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Tailored to your specific needs
$10,000 Quote-Based
Get a free price quote
Tailored to your specific needs
Small 
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Windows
Mac
Linux
Android
Chromebook
Windows
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Linux
Android
Chromebook
Cloud
On-Premise
Mobile
Cloud
On-Premise
Mobile

Product Assistance

Documentation
In Person
Live Online
Videos
Webinars
Documentation
In Person
Live Online
Videos
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Email
Phone
Chat
FAQ
Forum
Knowledge Base
24/7 Live Support
Email
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24/7 Live Support

Product Insights

  • Free: Utilize Wave Accounting's free features forever, making it a great help for entrepreneurs and freelancers who may find themselves in the preliminary stages of launching their business or service.  
  • Easy Setup: Get to work immediately with easy account setup and installation. 
  • Available Anywhere: Access this solution on computers and mobile devices to access and change anything from practically any location. All changes are automatically saved and synced so users always see current information. 
  • Instant Transactions: Connect bank accounts for instant transaction recordings. It also eliminates manually inputting receipts. 
  • Stay Organized for Tax Season: Sort incomes, expenses, payments and invoices in one centralized location for tax time.  
  • Collaborate with Accountants: Share data and collaborate with accountants for smooth financial processing and advice. 
  • Top-Notch Security: Protect financial information with security components such as bank connections with 256-bit encryption in read-only formats and PCI Level-1 security for managing credit cards and bank account information. 
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  • No Experience Required: Users of any skill level can get into Board and immediately start optimizing their business planning with a comprehensive set of tools for business intelligence, performance management and predictive analytics. 
  • All-in-One Platform: Board provides the resources to handle everything from flat-file data to ERP, with a user-friendly interface that serves expert and beginner users alike. 
  • Adaptable Use Cases: Financial planning and analytics, accounting reporting and consolidation, supply chain planning and management, and merchandise and retail planning can all be handled and optimized using Board’s robust set of corporate and departmental modules. 
  • Customizability: Board gives businesses the ability to not only handle processes out of the box, but also to create custom workflows and modules for their specific needs. 
  • Self-Service Analytics: Gain insights into business performance, forecast trends and develop better strategies without sophisticated IT knowledge or assistance. 
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  • Link Accounts and Credit Cards: Connect an unlimited amount of bank accounts and credit cards. Users may supervise multiple businesses with one account. 
  • Smooth Integrations: Integrate Shopify transactions and link with PayPal, Shoeboxed and Etsy accounts. 
  • Intricate Dashboards: Elaborate dashboards that display cash balances, invoice statuses, incomes, expenses and payments. This accessory also provides bill and invoice reminders. 
  • Export Various Reports: Export a variety of accounting reports such as profit and loss, sales tax, cash flow, comparative and others. 
  • Automatic Updates: Receive prompt updates and reminders on invoices, payments and payroll details. 
  • Evaluate High Volumes of Transactions: Process a bulk amount of transactions to ensure rapid bookkeeping practices. Users can also perform and accept transactions in foreign currencies and search for transactions based on descriptions. 
  • Double-Entry Accounting: Operate with double-entry accounting—a method that chronicles transactions in two or more accounts — that performs prompt exchange rate calculations and has a flexible sales tax module. 
  • Adaptable Expense and Income Categories: Use account IDs to create adjustable expense and income categories, sometimes called chart of accounts. There's also an unlimited income and expense tracking accessory. 
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  • Adaptable Platform: Board Intelligent Planning Platform can be deployed in a variety of ways depending on specific business needs, and utilizes a proprietary in-memory technology and HTML5 web platform to remain fast and usable regardless of how it’s deployed. 
    • Granular Security: A multi-layer security system provides full control over who has access to what information on a cell-by-cell basis.
    • Metadata Gateway: The software translates data sources into simple, easy-to-read views and imports data into its own format automatically.
  • Powerful Analytics: Board provides automatic and manual analytics features for users of all experience levels to make sense of data and inform future decisions. 
    • Drag-and-Drop Analysis: Build robust analyses from company financial data by simply dragging and dropping information into a visual environment, with built-in machine learning capabilities to handle the more difficult, technical side of analysis. 
    • Multidirectional Drilldown: Create drill paths in any direction, between reports or back to source systems for the most in-depth analysis possible. 
  • Robust Planning: Enter data and use it to determine future plans with Board’s complete set of ERP tools. 
    • Simplified Metrics: Users can create Excel-like formulas to define specific custom metrics and apply them to any of the software's databases. 
    • Real-time Adjustments: Change data metrics and models without affecting user operations. This gives businesses maximum control over planning and forecasting as events unfold. 
  • Business Modeling: Define workflows and onboard employees to ensure maximum organizational efficiency. 
    • Customized Rules: Create and customize boundaries and guidelines for their workflows. Users can also set criteria to help generate more precise predictions. 
    • Adaptive Aggregation: Flexible data aggregation can be performed at any time, automatically adapting data and metrics to new dimensions. 
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Product Ranking

#4

among all
Accounting Software

#17

among all
Accounting Software

Find out who the leaders are

Analyst Rating Summary

72
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87
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Analyst Ratings for Functional Requirements Customize This Data Customize This Data

Wave Accounting
Board
+ Add Product + Add Product
Accounts Payable Accounts Receivable Banking And Cash Management Budget And Expense Management Financial Statements And Revenue Management General Ledger And Chart Of Accounts Integration And Extensibility Inventory Management Journal Entries Mobile Support Multi-company Accounting And Asset Management Platform Capabilities Project Accounting Reporting And Analytics Tax Management 78 92 87 57 98 61 58 50 73 90 65 78 56 70 88 0 25 50 75 100
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Analyst Ratings for Technical Requirements Customize This Data Customize This Data

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User Sentiment Summary

Great User Sentiment 2602 reviews
Great User Sentiment 804 reviews
88%
of users recommend this product

Wave Accounting has a 'great' User Satisfaction Rating of 88% when considering 2602 user reviews from 5 recognized software review sites.

89%
of users recommend this product

Board has a 'great' User Satisfaction Rating of 89% when considering 804 user reviews from 5 recognized software review sites.

4.0 (15)
4.8 (2)
4.4 (203)
4.4 (279)
4.43 (1298)
n/a
4.4 (964)
4.5 (134)
n/a
4.6 (157)
4.0 (122)
4.3 (232)

Synopsis of User Ratings and Reviews

System Performance: Of the users who mentioned this solution's performance, precisely 65% said it's easy to use, documents all tasks performed and provides accurate information.
Modules: Approximately 57% of users who discussed this program's functionality said it has a variety of capabilities such as an assortment of reports, bank account synching and invoice reminders.
Cost: Of the users who mentioned this application's pricing, approximately 87% of users said they like the free version because it comes with plenty of appliances.
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Collaborative Planning: Users praise Board's real-time collaboration features, enabling teams to work together seamlessly on plans and share updates instantly, boosting efficiency and alignment.
Flexible & Scalable: Many appreciate Board's adaptability to various planning needs, accommodating diverse data sets, departments, and future growth, making it a future-proof solution.
Data Visualization & Insights: Users value Board's robust data visualization tools, transforming complex data into clear dashboards and reports, aiding in informed decision-making and identifying trends.
Automation & Streamlining: Real user experiences highlight Board's ability to automate repetitive tasks and workflows, freeing up time for strategic work and analysis, improving overall planning efficiency.
Mobile Accessibility: Appreciations are shared for Board's mobile app, allowing users to access plans and data on the go, enhancing flexibility and real-time decision support.
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Frustrating reconciliation process: Users often describe matching transactions as difficult and time-consuming, leading to delayed reconciliation and potential errors.
Limited reporting options: Users express a desire for more robust and flexible reporting features, including better sorting, exporting, and preset date options for generating customized reports.
Lack of phone support: Wave relies primarily on email and online resources for support, which can be frustrating for users who prefer immediate assistance or have complex issues to resolve.
Occasional glitches and errors: Users have reported occasional software glitches, such as duplicated transactions or difficulties with bank syncing, which can disrupt workflows and create data inconsistencies.
No inventory management: Wave lacks full-fledged inventory tracking and management capabilities, making it unsuitable for businesses with complex inventory needs or those who sell directly through eCommerce platforms.
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Complex Calculations: Limited transparency in formula calculations, hindering troubleshooting and advanced analysis.
Macro Restrictions: Restricted macro functionalities might constrain automation and specialized workflows.
Navigation Challenges: Unintuitive interface layout and navigation, leading to user frustration and inefficiency.
Mobile Limitations: Limited mobile app functionalities compared to desktop version, restricting accessibility.
Restricted Dashboard Design: Limited design freedom for dashboards, impacting user preferences and visual clarity.
Scalability Concerns: Performance issues reported with large datasets, potentially hindering scalability for growing companies.
Opaque Pricing Structure: Lack of clear pricing information and complex licensing tiers, making cost estimation difficult.
Limited Support Availability: Reported challenges with timely and comprehensive support responses.
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Wave Accounting users appreciate its simplicity and affordability, making it a popular choice for freelancers and solopreneurs. The free plan covers essential features like invoicing, expense tracking, and basic reporting, catering to those with straightforward accounting needs. Users praise its intuitive interface and mobile app for on-the-go tracking, highlighting its convenience compared to clunky desktop software. However, Wave's limitations become apparent as businesses grow. Users cite frustrating reconciliation issues, limited reporting options, and the lack of advanced features like inventory management or payroll integrations. Compared to competitors like Quickbooks or Xero, Wave feels less capable of handling complex accounting workflows. While its automatic bank imports save time, the absence of phone support can be a dealbreaker for some users who need immediate help troubleshooting issues. Ultimately, Wave shines for its ease of use and zero-cost entry point, but its lack of scalability and robust features might necessitate switching to more powerful alternatives as businesses evolve. Choosing Wave comes down to prioritizing convenience and affordability over comprehensive functionality and expert support.

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Board, an Intelligent Planning software, garners mixed reviews from users. While praised for its user-friendly interface and extensive customization options, some find its cost and scalability a concern. Let's delve deeper. Users appreciate Board's intuitiveness, making it accessible even to non-technical folks. Its flexibility allows tailoring the platform to specific needs, a boon for organizations with intricate planning processes or unique data demands. Additionally, Board seamlessly integrates with various data sources, simplifying information consolidation for insightful analysis. However, cost can be a barrier, particularly for smaller businesses, as Board can be pricier than competitors. Scalability concerns arise, with some users reporting performance issues when handling massive datasets. While powerful for basic planning, Board might lack the advanced features offered by competitors for highly technical users or complex scenarios. Board sets itself apart by emphasizing visually engaging and interactive reports and dashboards, aiding communication with stakeholders. Its robust mobile app empowers users to access and manage plans on the go, promoting flexibility and remote work. Ultimately, Board's strengths and weaknesses hold varying importance depending on your needs. Budget, data volume, desired features, and user requirements should be carefully considered when comparing Board to other Intelligent Planning software options. Remember, this is just a general overview, and thorough research tailored to your specific context is crucial before making a decision.

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