Wave Accounting vs Yendo Accounting

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Our analysts compared Wave Accounting vs Yendo Accounting 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

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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Yendo Accounting is a comprehensive software solution designed to streamline financial management tasks such as bookkeeping, invoicing, and financial reporting. It is particularly well-suited for small to medium-sized businesses across various industries, including retail, services, and manufacturing, due to its user-friendly interface and robust functionality. The software offers unique benefits like real-time financial insights and automated processes that enhance efficiency and accuracy in accounting operations. Users appreciate its powerful features, such as customizable reports and seamless integration with other business tools, which facilitate a more cohesive financial management experience. Compared to similar products, Yendo Accounting is often praised for its intuitive design and ease of use, making it accessible even for those with limited accounting knowledge. Pricing details are not readily available, so it is recommended to contact SelectHub for a tailored quote based on specific business needs.

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$20 Monthly
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$9 Monthly
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Tailored to your specific needs
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Product Assistance

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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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  • Streamlined Financial Management: Yendo Accounting simplifies complex financial tasks, allowing businesses to manage their finances with ease and precision, reducing the likelihood of errors.
  • Real-Time Financial Insights: Gain immediate access to up-to-date financial data, enabling informed decision-making and strategic planning based on current financial health.
  • Enhanced Collaboration: Facilitate seamless collaboration among team members by providing shared access to financial data, ensuring everyone is on the same page.
  • Time Efficiency: Automate routine accounting tasks such as invoicing and payroll, freeing up valuable time for your team to focus on growth-oriented activities.
  • Cost Savings: Reduce the need for extensive manual labor and minimize the risk of costly financial errors, leading to significant savings over time.
  • Scalability: Easily adapt to the changing needs of your business, whether you're expanding operations or managing seasonal fluctuations, without overhauling your accounting system.
  • Data Security: Protect sensitive financial information with robust security measures, ensuring compliance with industry standards and safeguarding against data breaches.
  • Customizable Reporting: Generate tailored financial reports that meet the specific needs of your business, providing clarity and insight into various financial aspects.
  • Improved Cash Flow Management: Monitor and manage cash flow effectively, helping to maintain liquidity and avoid potential financial pitfalls.
  • Regulatory Compliance: Stay compliant with ever-changing financial regulations and tax laws, reducing the risk of penalties and legal issues.
  • Integration Capabilities: Seamlessly integrate with other business tools and platforms, creating a cohesive ecosystem that enhances overall operational efficiency.
  • User-Friendly Interface: Navigate the software with ease, thanks to an intuitive design that requires minimal training and supports quick adoption by new users.
  • Customer Support: Access reliable customer support to resolve any issues promptly, ensuring minimal disruption to your business operations.
  • Scalable Pricing Options: Choose from a range of pricing plans that align with your business size and budget, ensuring you only pay for what you need.
  • Environmental Impact: Reduce paper usage and contribute to sustainability efforts by digitizing financial processes and documentation.
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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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  • Comprehensive Dashboard: Offers a real-time overview of financial metrics, including cash flow, profit margins, and expenses, all in one place.
  • Multi-Currency Support: Facilitates transactions in various currencies, automatically updating exchange rates to ensure accurate financial reporting.
  • Invoice Management: Allows for the creation, customization, and tracking of invoices, with options for recurring billing and automated reminders.
  • Expense Tracking: Enables users to categorize and monitor expenses, providing insights into spending patterns and budget adherence.
  • Bank Reconciliation: Simplifies the process of matching bank statements with accounting records, reducing errors and ensuring accuracy.
  • Financial Reporting: Generates detailed reports such as balance sheets, income statements, and cash flow statements, aiding in strategic decision-making.
  • Tax Management: Assists in calculating and filing taxes, with features for VAT, GST, and other tax compliance requirements.
  • Inventory Management: Tracks stock levels, orders, and deliveries, integrating seamlessly with sales and purchase modules.
  • Project Accounting: Provides tools for tracking project-specific financials, including budgets, expenses, and profitability analysis.
  • Customizable Chart of Accounts: Allows businesses to tailor their accounting structure to fit specific needs and reporting requirements.
  • Role-Based Access Control: Ensures data security by allowing administrators to assign specific permissions to different users based on their roles.
  • Integration Capabilities: Connects with other business tools such as CRM systems, payment gateways, and e-commerce platforms for streamlined operations.
  • Mobile Accessibility: Offers a mobile app that provides on-the-go access to key accounting functions, ensuring flexibility and convenience.
  • Automated Data Backup: Regularly backs up financial data to prevent loss and ensure business continuity in case of system failures.
  • Customer Support: Provides access to a dedicated support team for troubleshooting and guidance, ensuring smooth software operation.
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Product Ranking

#4

among all
Accounting Software

#37

among all
Accounting Software

Find out who the leaders are

Analyst Rating Summary

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Analyst Ratings for Functional Requirements Customize This Data Customize This Data

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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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User Sentiment Summary

Great User Sentiment 2602 reviews
Excellent User Sentiment 2 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.

100%
of users recommend this product

Yendo Accounting has a 'excellent' User Satisfaction Rating of 100% when considering 2 user reviews from 1 recognized software review sites.

4.0 (15)
n/a
4.4 (203)
n/a
4.43 (1298)
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4.4 (964)
5.0 (2)
4.0 (122)
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Awards

No awards.

Yendo Accounting stands above the rest by achieving an ‘Excellent’ rating as a User Favorite.

User Favorite Award

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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User-Friendly: User reviews consistently praise Yendo for its intuitive design and ease of use, making it simple for business owners to manage their finances without needing extensive accounting knowledge.
Comprehensive Functionality: Yendo offers a wide range of features including invoicing, expense tracking, bank reconciliation, and CRM capabilities, providing a one-stop solution for managing key business operations.
Strong Customer Support: Users highlight the responsive and helpful customer support provided by Yendo, ensuring that any questions or issues are addressed promptly.
Cost-Effective: With a starting price of $10 per month, Yendo offers a budget-friendly solution for small businesses looking for a feature-rich accounting software without breaking the bank.
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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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Inconsistent User Experience: User reviews reveal varied experiences, with some users reporting high satisfaction and others expressing only moderate satisfaction, suggesting potential inconsistencies in the software's performance or features.
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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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Is Yendo Accounting really the way to go for your business accounting needs? User reviews from the last year paint a somewhat mixed picture of this software. While Yendo is generally praised for its user-friendliness and comprehensive functionality, some users have pointed out areas where it falls short. On the plus side, Yendo Accounting is lauded for its intuitive interface, making it easy for even non-accountants to navigate. The software's robust feature set, including invoicing, expense tracking, and bank reconciliation, is another major selling point, especially for small businesses looking for an all-in-one solution. The flexible pricing structure, starting at $10 per month, is also very attractive. However, some users have reported that the user interface, while generally easy to use, could benefit from a more modern design. Additionally, the lack of certain advanced features, such as an audit trail and API support, might be a dealbreaker for some businesses. For example, businesses with strict compliance requirements might find the absence of an audit trail a significant drawback. Overall, Yendo Accounting seems to be a good fit for small businesses or freelancers who need a user-friendly and affordable accounting solution. However, businesses that require advanced features or a more polished user interface might want to consider other options.

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