Zoho Books VS Wave: Which Accounting Software Is Better?

When you think of accounting software, you usually think of big names, such as Xero or QuickBooks. But what about the accounting programs designed specifically with the small business owner in mind? In this post, we put two of the top small business accounting software programs face to face: Zoho Books and Wave.

Which service comes out on top? And more importantly, which is right for your business? Let’s find out.

At Merchant Maverick, we aim to help you find the best software for your small business needs. We’ve carefully researched and tested both products to make your decision easier. We’ll compare Zoho Books and Wave based on features, pricing, customer experience, reputation, and more, so you don’t have to.

Don’t have time to read the whole post? Looking for a different accounting option? Check out our top-rated accounting solutions to see our favorite recommendations.

Zoho Books VS Wave Overview

About Zoho Books

Zoho Books is a scalable, full-featured accounting software option that even gives QuickBooks Online a run for its money. The software has only improved over the years. It features beautiful invoicing, strong mobile apps, excellent customer support, and decent integrations. It also allows users to send invoices in over ten different languages.

About Wave Accounting

Wave is free accounting software that has only improved over time. The software has grown to support over 3.5 million users and offers a robust feature set with unique additions, such as scheduling recurring invoices by timezone and a brand new light eCommerce tool. The software also provides professional bookkeeping services and supports personal and business accounting.

Zoho Books VS Wave: Pricing

Zoho Books offers six scalable pricing plans ranging from $0-$275/month. Wave is completely free. The only additional costs are payroll, payment processing, and Wave Advisors.

When it comes to pricing, you can’t beat free. And unlike most free software, Wave doesn’t put artificial limits on features such as invoicing and estimates. You get complete access to fully functioning features for $0/month.

While Zoho Books does have a free plan, it is limited to 1,000 invoices per year and doesn’t have advanced features. Zoho Books also recently increased pricing on its paid plans.

Zoho Books VS Wave: Features

Zoho Books and Wave have a lot of similar features. Both offer expense tracking, invoicing, contact management, and more; the difference is the depth and functionality of these features.

While Wave has a strong feature set and unique additions, such as a lightweight eCommerce tool, Zoho Books’ features are far more advanced. Zoho Books offers some of the best invoicing on the market with 16 different templates and international invoicing. The software also provides project management (which Wave lacks entirely), better inventory, better time tracking, and better reporting, making it the clear winner.

Accounting

Both Zoho Books and Wave offer strong accounting features. Each software uses double-entry accounting. Both support accounting reports, a customizable chart of accounts, journal entries, bank reconciliation, and fixed asset management.

The two are almost neck and neck in this area. However, Wave recently set itself apart by adding a bookkeeping service called Wave+, where users can purchase additional accounting help from professional bookkeepers. Wave also has built-in personal accounting tools.

Users & Permissions

Depending on your plan, Zoho Books supports 1-15 users, although you can purchase additional users for an extra cost. The software offers very basic user permissions. Wave is designed for small business owners, meaning there are no additional users. You can technically invite “collaborators” who can access your account, but that’s about it.

Ease Of Use

Both Wave and Zoho Books are easy to use. They each have a well-organized modern UI, and the setup is quick. However, because of Zoho Books’ sheer number of features, the software is a bit harder to navigate and get used to (it does have better customer support if you get stuck, though). On the other hand, Wave is easy enough for anyone to use, no matter what their accounting background (or lack thereof) looks like.

Mobile Apps

It’s no question that Zoho Books is the winner here. Zoho Books has always been known for strong, fully featured mobile apps. Its Android and iPhone apps receive high ratings across the board, and the company supports smartwatch, Microsoft, and Kindle apps.

Wave’s mobile apps could stand improvement. Right now, there are two separate apps: one for invoices and one for receipts. Existing Wave users complain that they want one full-featured app.

Customer Service & Support

Zoho Books offers better customer support by far. Zoho Books’ phone support has hardly any wait times, and in my experience, representatives are friendly and helpful. The company also has an expansive help center, email, live chat, videos, and more.

While Wave does offer a well-developed help center and blog, you can only contact Wave support by email (unless you purchase payroll or credit card processing, in which case you get phone and chat support). Wave’s email response times often take over a day.

Integrations

Zoho Books offers around 40 integrations, while Wave only has three integrations. However, both Zoho Books users and Wave users complain about a lack of integrations. Each software’s saving grace is that they both connect with Zapier, an integration that connects them to 1,000+ other third-party apps.

Security

Both Zoho Books and Wave offer strong security. Each uses 256-bit SSL encryption, regular data backups, and 24/7 data monitoring. We gave Zoho Books the victory in this section because Zoho Books is far more forthcoming about its security information, so users can be 100% confident that their data is protected.

Customer Reviews: Do Users Like Wave Or Zoho Books Better?

Both Zoho Books and Wave receive mostly positive customer reviews from satisfied customers. They have a similar ratio of negative to positive reviews, resulting in a tie for this section.

Zoho Books users appreciate the software’s ease of use, strong mobile apps, affordable price plans, and constant updates. Wave users praise the software for its ease of use, free price, personal accounting, and feature selection.

The few complaints Zoho Books users have are about the lack of payroll and limited integrations. Fortunately, Zoho Books has remedied the payroll issue with the recent addition of a SurePayroll integration. Complaints about Wave revolve around poor mobile apps, limited integrations, and limited features.

Wave VS Zoho Books Comparison: The Bottom Line

Wave is powerful software that puts up quite the fight, but it just doesn’t have the features and capabilities of Zoho Books — at least not yet. A more robust feature set, strong mobile apps, more integrations, forthright security, and excellent customer service give Zoho Books the advantage.

Zoho Books is ideal for small to medium businesses needing solid accounting at competitive pricing. Zoho Books is a QBO alternative with a robust feature set and some of the best invoicing on the market. The invoicing features make it ideal for businesses in need of international invoicing.

If you’re looking for free accounting software, Wave might be the better choice for your business. Wave is ideal for small business owners looking for easy bookkeeping software to manage their businesses with. Wave has an impressive feature set — particularly for a free app — and offers a few key additions that Zoho Books lacks (the brand new eCommerce checkouts tool). It also has a strong Etsy integration, making it ideal for Etsy sellers.

Maybe after reading about Zoho Books and Wave, neither option seems like the perfect fit for your business. Don’t worry! Our comprehensive accounting reviews can help you find the best software for your business.