Struggling to pick the right accounting tool for your business?
You’re not alone.
Both promise to make your financial life easier, but which one delivers for your specific needs?
This guide will break down Wave vs Autoentry.
Let’s find out which one is better!
Overview
We put Wave and AutoEntry to the test.
We used them like a real business would.
This helped us see what each tool does best.
Now, let’s compare them side-by-side.
Over 4 million small businesses trust Wave to manage their finances.
Pricing: Free plan available. Paid plan starts at $16/month.
Key Features:
- Unlimited Invoicing
- Expense Tracking
- Basic Reporting
Stop wasting 10+ hours/week on manual data entry.
Pricing: It has a free trial. Paid plan starts at $12/month.
Key Features:
- Automated data extraction (OCR)
- Receipt & invoice processing
- Bank statement capture
What is Wave?
Okay, let’s talk about Wave.
Think of it like a helpful friend for your business money.
It lets you do things like send invoices and track what money comes in and goes out.
It can help you see the big picture of your business finances.
Also, explore our favorite Wave alternatives…
Over 4 million small businesses trust Wave to manage their finances. See why 88% of users report saving an average of 5 hours per month on bookkeeping with Wave.
Key Benefits
Wave stands out with:
- A 100% free basic accounting plan.
- Easy to use interface for beginners.
- Seamless integration with its payroll add-on.
- Over 2 million small businesses use it.
Pricing
Free: $0
Pro Plan: $16
Pros
Cons
What is AutoEntry?
Okay, so let’s talk about AutoEntry.
It’s a tool that helps you get your paperwork into your computer without typing everything yourself.
Think of it like a smart helper for your bills and receipts.
It reads them and puts the info where it needs to go.
Also, explore our favorite AutoEntry alternatives…
Tired of typing? Businesses using AutoEntry report saving hours each week on data entry and a significant drop in errors.
Key Benefits
- Automated Data Extraction: Effortlessly pull data from invoices and receipts.
- Receipt Scanning: Easily capture and process expense receipts on the go.
- Supplier Automation: Set up rules to automate how supplier documents are handled.
- Integration with Accounting Software: Works seamlessly with Xero, QuickBooks, and more.
Pricing
- Bronze: $12
- Silver: $23
- Gold: $44
- Platinum: $98
- Diamond: $285
- Sapphire: $450
Pros
Cons
Feature Comparison
We’ve looked closely at what both Wave and AutoEntry offer.
Now, let’s dive into their main features.
This will help you see how they stack up against each other.
1. Core Accounting
Wave gives you a full accounting system.
You can track income, expenses, and run reports.
It’s like having a basic accounting office built-in.
AutoEntry is not a full accounting system.
It focuses on getting your financial data into other accounting software, like QuickBooks or Xero.
2. Receipt and Invoice Capture
This is where AutoEntry shines.
It’s built to automatically grab data from receipts, invoices, and bills.
You just snap a picture or email it.
Wave lets you create invoices and record expenses.
However, its receipt scanning isn’t as advanced or automated as AutoEntry’s.
3. Bank Reconciliation
Wave helps you match your bank transactions with your records.
This keeps your books accurate.
AutoEntry helps get the bank statement data into your accounting software.
It speeds up the process of getting the information ready for reconciliation, but it doesn’t do the full reconciliation itself.
4. Integrations
Wave has fewer direct connections to other apps.
It works well on its own.
AutoEntry is designed to connect with many popular accounting software programs.
This makes it a powerful add-on for businesses already using a different accounting system.
5. Payroll
Wave offers payroll services, but it’s an extra paid feature.
It helps you pay your employees and handle taxes.
AutoEntry does not have payroll features.
Its job is purely focused on data entry automation.
6. Mobile App
Both Wave and AutoEntry have mobile apps.
Wave’s app lets you send invoices, track expenses, and check your dashboard on the go.
AutoEntry’s app is great for taking pictures of receipts and invoices to upload them quickly.
It’s designed for easy document capture from your phone.
7. Customer Support
Wave offers customer support, but often it’s more self-service unless you pay for certain features or services.
AutoEntry also provides support to help you with its specific data entry functions.
The level of support can depend on your plan.
What to look for when choosing an Accounting Software?
- Scalability: Can the software grow with your business?
- Support: What kind of help is available if you have questions?
- Ease of Use: Is it something you and your team can learn quickly?
- Specific Needs: Does it handle the unique things your business does?
- Security: How safe is your financial data with this software?
Final Verdict (Our Pick)
Which is better, Wave or AutoEntry?
It depends on your needs.
If you run a small business or have just started one, Wave is your best bet.
It’s a complete, free accounting system.
It helps you manage all your basic money tasks.
But maybe you already use accounting software.
Think QuickBooks or Xero. And you have many paper receipts and invoices.
Then, AutoEntry is the clear winner. It’s a strong tool. It automates that messy data entry.
We’ve shown you both in detail.
Choose the one that fixes your business’s problems.
More of Wave
- Wave vs Puzzle IO: Puzzle IO shines with its AI-powered smart categorization and predictive invoicing for modern accounting.
- Wave vs Dext: Dext excels at automated data capture from receipts and invoices, streamlining expense management.
- Wave vs Xero: Xero offers strong cloud-based accounting, emphasizing cash flow management and multi-currency support.
- Wave vs Synder: Synder specializes in e-commerce accounting, seamlessly syncing data from various online sales platforms.
- Wave vs Docyt: Docyt provides AI-driven bookkeeping and workflow automation, aiming for a fast month-end close.
- Wave vs Zoho Books: Zoho Books provides a broad accounting solution with strong invoicing, expense tracking, and inventory management.
- Wave vs Quicken: Quicken is primarily for personal finance, offering budgeting, investment tracking, and basic invoicing for freelancers.
- Wave vs Hubdoc: Hubdoc automates document collection and data extraction, centralizing financial paperwork for accountants.
- Wave vs Expensify: Expensify is a leader in expense reporting, featuring smart receipt scanning and automated reimbursements.
- Wave vs QuickBooks: QuickBooks is a comprehensive accounting software with robust features for all business sizes, including payroll and inventory.
- Wave vs FreshBooks: FreshBooks is optimized for service-based businesses, with strong invoicing, time tracking, and project management.
- Wave vs NetSuite: NetSuite is a full ERP solution that offers extensive financial management, CRM, and supply chain capabilities for larger businesses.
More of AutoEntry
- AutoEntry vs Puzzle IO: Puzzle IO offers AI-driven insights for smarter financial management.
- AutoEntry vs Dext: Dext excels at automated receipt and invoice capture, simplifying data entry.
- AutoEntry vs Xero: Xero provides comprehensive cloud accounting, great for small businesses.
- AutoEntry vs Synder: Synder specializes in e-commerce transaction syncing and reconciliation.
- AutoEntry vs Docyt: Docyt uses AI for intelligent document processing and expense management.
- AutoEntry vs RefreshMe: RefreshMe focuses on real-time financial data updates and analysis.
- AutoEntry vs Quicken: Quicken is primarily personal finance software for budgeting and tracking investments.
- AutoEntry vs Hubdoc: Hubdoc automates document collection and data extraction for bookkeeping.
- AutoEntry vs Expensify: Expensify is a leading solution for automated expense reporting and management.
- AutoEntry vs QuickBooks: QuickBooks is a widely used accounting software for various business sizes.
- AutoEntry vs FreshBooks: FreshBooks focuses on invoicing and time tracking for freelancers and small businesses.
- AutoEntry vs NetSuite: NetSuite is a comprehensive cloud ERP system for larger, growing enterprises.
Frequently Asked Questions
Is Wave accounting truly free for small business owners?
Yes, Wave accounting offers its core features, like invoicing and basic accounting, completely free. This makes it a popular accounting solution for many startups and very small businesses looking to manage their cash flow without upfront costs.
How does AutoEntry compare to Hubdoc for expense tracking?
AutoEntry and Hubdoc both aim to streamline expense tracking by automating data capture from receipts and invoices. AutoEntry often boasts broader software integrations and deeper data extraction capabilities, making it a strong choice for businesses needing detailed automation.
Can Wave accounting handle payroll?
Yes, Wave accounting does offer payroll services. However, this is an additional paid feature. It helps small business owners manage employee payments, direct deposits, and payroll tax filings, further consolidating their financial needs within one accounting solution.
Is AutoEntry a full accounting solution on its own?
No, AutoEntry is not a standalone accounting solution. It’s designed to integrate with existing accounting software like QuickBooks or Xero. Its primary function is to streamline data entry for expenses, invoices, and bills, making expense tracking easier for other systems.
Which tool is better for improving cash flow for small businesses?
For improving cash flow, both tools help, but in different ways. Wave accounting provides a full overview of your finances, helping you track money in and out. AutoEntry streamlines data entry, giving you quicker, more accurate financial data for better decision-making about your cash flow.
