Xero vs Wave Comparison | SaaSworthy.com

98% SW Score The SW Score ranks the products within a particular category on a variety of parameters, to provide a definite ranking system. Read more

Xero

Accounting Software

4.2 7,623 user ratings

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95% SW Score The SW Score ranks the products within a particular category on a variety of parameters, to provide a definite ranking system. Read more

Wave

Accounting Software

4.1 1,834 user ratings

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Overview

Description	Xero is an award-winning online accounting software for small scale businesses. Xero offers a variety of features to make your business function smoothly and efficiently. The software handles all the accounting transactions effectively. It permits unlimited users to get online at a time and work in collaboration over data which is accessible through a single ledger. Xero also provides Bank Reconciliation services by importing the various transactions from your bank accounts and matching them with your cash-book. Business finances and cash-flow statements are updated on a real-time basis, helping you to keep a track of all your expenses and transactions. Read more	An accounting software meant to provide various accounting services to small scale businesses with professional expertise and quality. Wave provides services like Invoicing, Accounting and Receipt scanning without charging a penny to its clients, whereas, features like Payments, Payroll and all the other features that a company might be looking for in an online accounting software are provided at very affordable price. If used efficiently, it can help a company save a lot of money on its accounting activities. This is a very good option for any small business looking for an online solution to handle accounts. Read more
Pricing Options	Free Trial Available Starts at $2.9.	Free Trial Not Available Starts at $14.16. Offers Free-forever plan.
SW Score & Breakdown	98% SW Score The SW Score ranks the products within a particular category on a variety of parameters, to provide a definite ranking system. Read more Features The Feature Score % is calculated using the weighted average method, where core features hold more weight in the final calculation. Read more 98% Reviews 98% Momentum 72% Popularity 97%	95% SW Score The SW Score ranks the products within a particular category on a variety of parameters, to provide a definite ranking system. Read more Features The Feature Score % is calculated using the weighted average method, where core features hold more weight in the final calculation. Read more 100% Reviews 84% Momentum 75% Popularity 91%
SaaSworthy Awards	# 2 Most Worthy # 6 Fastest Growing	# 7 Fastest Growing # 4 Most Popular

Features

Total Features	16 Features	17 Features
Common Features for All	Accounts Payable Handling the money owed by a business to its suppliers. Accounts Receivable Handling the money the client owes to the company. Bank Reconciliation Matching the balances of an entity's accounting records with the corresponding information on a bank statement. Billing and Invoicing This feature helps in issuing and handling the invoice and bills. CPA Firms Offers collaboration with a professional expert for financial and consulting services. Cash Management Collection and management of cash. Collections Recovery of cash from a business or individual. Expense Tracking Keep a count of your day to day expenses as well as allows you to quickly identify where the expense report is in the approval process. Fixed Asset Management Helps in tracking fixed assets for the purposes of financial accounting, preventive maintenance, and theft deterrence. General Ledger Maintaining and recording all the accounting related transactions. Multi-Currency Enables payment and collection in multiple currencies. Payroll Handling the salary payable to the employees Project Accounting Creation of financial reports specifically designed to track the financial progress of projects Purchasing Acquiring goods or services required for the business at minimal cost Revenue Recognition Determining the specific conditions under which revenue is recognized or accounted for Spend Management Managing the expenditure of a business in order to build its product or services Tax Management Management of finances for payment of tax as well as assessing the advance tax liability to pay your tax in time + 13 More - Show Less	Accounts Payable Handling the money owed by a business to its suppliers. Accounts Receivable Handling the money the client owes to the company. Bank Reconciliation Matching the balances of an entity's accounting records with the corresponding information on a bank statement. Billing and Invoicing This feature helps in issuing and handling the invoice and bills. CPA Firms Offers collaboration with a professional expert for financial and consulting services. Cash Management Collection and management of cash. Collections Recovery of cash from a business or individual. Expense Tracking Keep a count of your day to day expenses as well as allows you to quickly identify where the expense report is in the approval process. Fixed Asset Management Helps in tracking fixed assets for the purposes of financial accounting, preventive maintenance, and theft deterrence. General Ledger Maintaining and recording all the accounting related transactions. Multi-Currency Enables payment and collection in multiple currencies. Payroll Handling the salary payable to the employees Project Accounting Creation of financial reports specifically designed to track the financial progress of projects Purchasing Acquiring goods or services required for the business at minimal cost Revenue Recognition Determining the specific conditions under which revenue is recognized or accounted for Spend Management Managing the expenditure of a business in order to build its product or services Tax Management Management of finances for payment of tax as well as assessing the advance tax liability to pay your tax in time + 14 More - Show Less

Technical Details

Organization Types Supported	Freelancers Medium Business Small Business	Freelancers Medium Business Small Business
Platforms Supported	SaaS/Web/Cloud Mobile - Android Mobile - iOS	SaaS/Web/Cloud Mobile - Android Mobile - iOS
Modes of Support	24/7 (Live rep) Business Hours Online	24/7 (Live rep) Business Hours Online
API Support	Available	Available

Reviews & Ratings

User Rating	4.2/5 7,623 user ratings	4.1/5 1,834 user ratings
Rating Distribution	Excellent 66.1% Very Good 14% Average 4.4% Poor 3.5% Terrible 12%	Excellent 49.3% Very Good 34.1% Average 5.3% Poor 2.5% Terrible 8.8%
User Sentiments	User Friendly Interface, Extensive Integrations, Automated Bank Feeds, Comprehensive Reporting Unreliable Bank Feeds, Slow Support Response Times, Limited User Permissions, Lack of Phone Support	Ease of Use, Free Accounting Software, Professional Invoicing, Automated Recurring Invoices Unreliable Payment Processing, Poor Customer Support, Inadequate Bank Synchronization, Limited Mobile App Functionality
Review Summary	User reviews of Xero are mixed. While many praise its ease of use, seamless integration with other platforms, and robust features for small businesses, they often express frustration with unreliable bank feeds, slow customer support response times, and lack of essential functionalities. Some users find the new invoicing system cumbersome, while others appreciate the help provided by Xero's support team, especially when it comes to technical issues. Overall, Xero is a powerful accounting software for small businesses but has drawbacks in its customer support and recent feature updates.	Wave Apps receives overwhelmingly negative reviews, particularly regarding its customer service and payment processing. Users complain of difficulties accessing funds, unreliable bank connections, and a lack of responsiveness from support. The free accounting software is lauded for its simplicity and basic functionality, but many users find the platform lacking in advanced features and have ultimately switched to paid software like QuickBooks.
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Pricing

Pricing Options	Free Trial Available Starts at $2.9.	Free Trial Not Available Starts at $14.16. Offers Free-forever plan.
Pricing Plans Monthly Plans Annual Plans	Starter $2.90 $2.90 per month Standard $4.60 $4.60 per month Premium $6.90 $6.90 per month	Starter Plan Free PRO Plan $14.16 $16.00 per month
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Alternatives

	Quickbooks 4.2 24,150 ratings Xero Vs Quickbooks Sage Accounting (Sage One) 4.7 16,858 ratings Xero Vs Sage Accounting (Sage One) Freshbooks 4.3 3,302 ratings Xero Vs Freshbooks Zoho Books 4.4 5,129 ratings Xero Vs Zoho Books Wave 4.1 1,834 ratings Xero Vs Wave	Freshbooks 4.3 3,302 ratings Wave Vs Freshbooks Sage Accounting (Sage One) 4.7 16,858 ratings Wave Vs Sage Accounting (Sage One) Quickbooks 4.2 24,150 ratings Wave Vs Quickbooks TimePay Wave Vs TimePay LessAccounting 4.4 54 ratings Wave Vs LessAccounting
	View All Xero Alternatives	View All Wave Alternatives