Both companies concentrate their efforts in email and online support, which is a growing trend in many industries. While Wave hasn’t quite hit that same threshold, they’re working diligently to keep rolling out new features and capabilities as quickly as possible for users.Ĭustomer Support: We’ve reached out to both companies in order to give you the most up-to-date information on their support options. The thing that really sets the two apart though, is the amount of features you receive through either subscription.įeatures: Xero has cornered the market when it comes to the sheer number of features that their platform offers. Xero on the other hand is still pretty cost effective, since their intro package starts at only $9, but you are still paying between $9-$70 a month depending on what you need. Pricing: You can’t beat free, right? Wave offers most of their features for free, and the ones they do charge for are definitely considered to be premium features in this industry. Xero’s been around for a little under 10 years and have made quite a name for themselves as one of the most robust platforms available. In addition to packaging, pricing and available tools, we’ll be comparing Wave’s customer support and number of users to one of the most well known companies in the industry. The folks behind Wave’s accounting software are clearly trying to disrupt the usual payment plans that other companies offer. There’s two things to keep in mind when comparing an accounting software: Pricing & Features. And, if you’re a resident of New York, California, Florida or Texas, you can add full payroll tax services for an additional $10. The base fee is $15 + $4 for the first 10 employees.Per transaction Wave charges 2.9% + 30 cents, so if you’re not making too many transactions throughout the month their plan is extremely cost effective.Īdditionally, they charge for payroll services.This include things like bill pay and online payments, for small charges for individual transactions. This services are considered premium so there are some small charges that you can expect to pay for monthly if you so choose. Additional Featuresįor those of us in the U.S., the two big ticket items are credit card processing and payroll services. Because they allow you to start for free and use all of these services without any monthly subscription fees, you can get your business’ finances even during the early stages when you’re just starting out. I recommend this package for users who need a place to get started. We’ll talk more about this below, but these are the primary categories they cover. Standard Package = Free + Additional Paid FeaturesĪny of your accounting software invoicing or receipts are free with Wave, so the only exceptions are when you get into credit card processing and payroll. Here’s a great “feature wall” screenshot to checkout: Wave’s pricing scale has much more versatility in terms of pricing, their mobile app is completely free, and they’re very transparent with their software capabilities. Recently, Wave has partnered with OnDeck to allow you to apply and receive funding for your startup in as little as 24 hours. OnDeck Partnership: Few companies within this industry have money lending capabilities. They’ve simplified complex jargon and put together a platform ideal for businesses with under 10 employees.
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