Running a business can sometimes be challenging; it can all become overwhelming, from marketing to acquiring clients to managing the finances to keeping up with government regulations. Luckily, there are invoicing and accounting software that help take some of the stress off you. Accounting software provides businesses with accuracy, efficiency, real-time insights, and streamlined financial processes with automated reporting, invoicing, and tax compliance features. Wave and Quickbooks are two popular options for business owners. In this blog post, we examine how these tools can benefit your business and whether a better option exists.
Wave
Wave offers free invoicing and accounting software for freelancers and small businesses. With add-ons at a price: Wave Payment to process transactions, Wave Payroll, Mobile Receipts, and Advisors all come at a price for users.
Pros
- Free invoicing and accounting software (you’d pay if you use Wave Payment and Wave Payroll)
- Easy-to-use interface
- Generate reports for your business
Cons
- It is only available for businesses in the US and Canada.
- It has limited reports
- The online payment gateway is limited to Wave Payment
Wave Pricing
(Source Wave.com)
What customers are saying about Wave
It’s now exclusive to North America when it used to be available worldwide, which makes it difficult to integrate new business ventures. (Review from Capterra)
Their customer service is horrible. If you can even get them, they have no problem lying right to your face. Read other review sites and you’ll see! (Review from G2)
It is very disappointing that they have withdrawn their services from Europe and other countries outside the US and Canada. (Review from G2)
Bank reconciliation is known to be inaccurate with Wave, with many reports that data doesn’t sync with the bank for months at a time (Review from Capterra)
Quickbooks
Quickbooks is a cloud-based accounting software for businesses. It features like invoicing, time tracking, inventory management, double-entry accounting, bank reconciliation, and others. Quickbooks tends to be costly for small businesses requiring basic features.
Pros
- It offers a wide variety of features
- It offers extensive reporting
Cons
- It is not a cost-friendly option for small businesses.
- It is not very intuitive and has a learning curve
Quickbooks Pricing
(Source Quickbook.com)
There is no free plan. Pricing ranges from $30 to $200 per month. During sales, you get 50% off for the first 3 months, after which normal rates apply for each plan.
What customers are saying about Quickbooks
There’s a huge learning curve for this software. (Review from Capterra)
The price can be a bit much for some companies. The customer service is horrible, and answers are confusing once a person does answer to help. (Review from Capterra)
My least favorite thing about this software is that the longer it is up the slower it gets for me. (Review from Capterra)
The user interface can be quite confusing and complicated, especially for those who are just starting to use accounting software for the first time. (Review from G2)
Wave vs. Quickbooks: Feature Comparison
| Feature | Wave | Quickbooks |
| Invoicing | Yes | Yes |
| Inventory tracking | No | Yes |
| Accounting reports | Yes | Yes |
| Estimates and Quotes | Yes | Yes |
| Vendor Billing | Yes | Yes |
| Multiple user access | Yes | Yes |
| Audit Trail | No | Yes |
| Budgeting tools | No | Yes |
Related: Sage vs. Quickbooks: Which one is right for your business 2023
Vencru: The Invoicing and Accounting Software for All Businesses
Vencru is a simple, all-in-one invoicing, inventory management, and accounting software for all businesses. Vencru is built for small business owners. We understand that as a business owner, growing your business is a top priority, and we help you do that by providing a simple and robust accounting interface for your business that saves time at an affordable price.
Get all the essential features of invoicing, inventory tracking, debtor tracking, double-entry accounting reports, business reports, and insights all in one place without high costs, complicated jargon, or multiple steps. We keep things simple and cost-effective, thereby saving you time and funds you can use to grow your business. Vencru offers both free and paid plans to cater to your business needs, with prices ranging from $6 to $50 billed monthly.
Vencru’s intuitive and user-friendly interface makes it easy for users all around the world to create invoices, receipts, quotes, and estimates for customers, receive payments, send purchase orders and vendor bills to vendors, record expenses, monitor inventory levels, manage orders, track debtors, bill client,d track expenses in multicurrency, view business reports and insights, double-entry accounting reports and manage employees.
Vencru is the best alternative to Wave and QuickBooks, and the only alternative your business needs. Vencru supports over 160 currencies; we have the world covered! Do not miss out on the value your business needs when you can get it without breaking the bank!
Get all the value your business needs and more for less on Vencru
| Feature | Vencru | Wave | Quickbooks |
| Free Plan | Yes | Yes | No |
| Coverage | Worldwide with over 160 supported currencies | US and Canada | Worldwide |
| Invoicing | Yes | Yes | Yes |
| Inventory management | Yes | No | Yes |
| Estimates and Quotes | Yes | Yes | Yes |
| Order Management (shipping status) | Yes | No | No |
| Accept Online Payment | Yes | Yes | Yes |
| Tax reporting | Yes | Yes | Yes |
| Purchase Order and Vendor Bills | Yes | Yes | Yes |
| Business reports | Yes | Yes | Yes |
| Double-Entry Accounting reports | Yes | Yes | Yes |
| Employee management (sales by employee report) | Yes | No | No |
| Budgeting tools | Yes | No | Yes |
| Product barcode scanning for sales and inventory | Yes | No | No |
| Track stock levels | Yes | No | Yes |
| Expense Analysis | Yes | No | No |
| Audit Trail | Yes | No | Yes |
Key Features of Vencru
- Invoicing and Sales Management – Create online invoices in less than a minute. Automatically track debtors, manage business sales, improve cash flow, and get your financial reports
- Estimates and Quotes– Create quotes and proposals in various currencies and seamlessly convert estimates into invoices.
- Inventory Management– Keep track of what you have in store, update when to restock, and deduct when you create invoices or receipts
- Expense Management– Track and manage all your business expenses and receipts in one place. Say goodbye to manual expense reporting and streamline your finances.
- Vendor Billing– Make and send vendor bills, track orders and deliveries, and sync inventory items easily.
- Business Reporting– Convert all data into insights needed to grow your business with simplified business reports. Review dashboards and reports on your sales, expenses, inventory, and clients.
- Accept Online Payments– Accept online payments with credit cards, debit cards, eChecks, and more, and have every penny accounted for with our bookkeeping features.
- Double-Entry Accounting– Powerful and robust double-entry accounting system. Track assets, liabilities, equity, revenue, and expenses.
- Client Management– Manage your clients, track their orders, and keep on top of your financials
- Business Budget Planning– Plan your business budget, set targets for revenue and expenses, forecast finances, and track progress easily.
- Employee management– Track sales by employee, viewing performance metrics, and maintaining an audit trail.
Vencru Pricing
Free Trial: Signup for a free 30-day trial on Vencru. No credit card is required! See how Vencru makes managing your business very simple!
Demo: If you prefer, you can schedule a free demo with one of our experts. We’ll answer all your questions.
How to Migrate to Vencru from Quickbooks or Wave
Want to migrate from your present business management software to Vencru? Here’s how easy it is:
- Book a free demo with our customer support team
- Decide on the best plan that works for you
- We will work with you and provide training on how to migrate successfully from Wave and Quickbooks.
