Cheqbook vs Wave Accounting

Wave Accounting set out to bring the success that in personal accounting to business accounting. Wave Accounting is a free service that generates revenue supported by advertisements. Wave Accounting’s interface is easy-to-use and the price is right. Key features, such as bank reconciliation and cash based accounting, keep it from being compelling. There is also concern about what part of your business data is shared with advertisers.
Cheqbook is much faster and easier to pick up for business owners while having the pro features that CPAs and bookkeepers need. We have found we can save business owners two weeks a year through our patent pending import and smart categorization. We built Cheqbook out of our own CPA firm here in Hawaii, when we couldn’t recommend any of the online solutions.
Wave Accounting
AccuScore Smart Categorization
Unlimited Simultaneous Users in all plans
Is it fully functional accounting software?
Accrual Accounting
Cash reports
Journal Entries
Can Reverse
Memos by line item
Chart of Accounts✓ (limited)
Add and Edit Chart of Accounts✓(only custom items)✓ (but not edit)
Assign default tax code
Easily access balance and transaction history
Find matching transactions
Suggest transactions to create
Enter transactions from the reconciliation page✓(edit only)
Split transactions (associate more than one account with a transaction)kind of
Assign taxes
Enter in payments from customers or payments to vendors
Create automation rules
Import Contacts
Import Bank Statements (format)✓(OFX, QFX, IFX)✓ (QFX, QBO, OFX, CSV, ASO )
Sync with Bank/Credit Card
Import Items (products / services)
Host invoices online for customers to view
Attach documents to income transactions
Attach documents to expense transactions
Attach documents to other types of transactions
Can attach multiple documents to a single transaction
Basic reports
Customization of reportslimited
Advanced reports
Batch edit transactions
Customize your email on a per invoice basis

Lam, Greg. Small Biz Doer “Cloud Accounting Comparison – Basics To Be Fully Functional.” QuickBooks and Beyond. Sleeter Group, 28 June 2013. Web. 13 Oct. 2013.
Lam, Greg. Small Biz Doer “Cloud Accounting Comparison – Data Import and Export” QuickBooks and Beyond. Sleeter Group, 28 June 2013. Web. 13 Oct. 2013.

This comparison is based on data from 07/28/2013. Please contact with corrections.

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