So, I've had a quick look around Slickpie and Akounting. For me and my use cases, Wave stays functionally superior. What you get for free (Akounting needs paid plugins for journals, balance sheet etc) (SlickPie's cash reporting seems to be absent) especially receipt scanning made me think if there was another way to overcome the problem of getting bank transactions from different accounts easily to load into Wave.
So, I checked out mint.com which offers a free service to consolidate your bank accounts. I successfully dumped a single spreadsheet with all bank transactions from different accounts. Now this can be massaged for upload into Wave.
Not ideal, but sure better than going into each bank and downloading one by one etc.
Anyone else doing this?
I think this is better than changing accounting systems and dumping the learning and investment already made in Wave.
P.S. I am in Australia and tested this on Westpac bank.
Thanks for the notice of the upcoming change, I still love the program, it is free, and I won't have any problem adapting my processes to upload my bank statement for reconciliation and accounting purposes. Thanks again Wave! From a Small business, sole trader and happy customer of Wave, New Zealand
This is terrible news and dropped so casually with a small warning notice.
For the ones who will consider staying with Wave and importing manually (which might not work for everyone even) Wave will take a massive to number of users and the service will definitely suffer for it. I don't think we'll continue to see the same level of customer service, support and updates with fewer users, so it'll probably be better to just cut your losses now and move on to another service. Cuts to a service is almost always followed by additional cuts somewhere and this could be the beginning of Wave shutting down all together in the future. I'd rather be on another service by then.
I guess I'll spend Christmas learning a new accounting system and exporting everything over.
sad to hear that, wave will end up off our countries, i wish there was something i can say to change the decision.
We were waiting thinking that we will have access to Payroll functionalities like US and Canada, worse to hear you taking away the intergral part of the accounting app. it will be so difficult to upload statements manually
Frankly, automated banking import was one of the major points of us using Wave. I recommended Wave to many people just because of it! Sad to hear the news. Since this feature is going to be removed, I will probably just develop my own invoicing tool and customize to my own needs.
I don't understand why this would be done. It's one of the most important features. I use it all the time. Why is it happening? I will probably have to find another accounting system as importing manually is just another jib to do.
@AlexL Could you please wait till the end of our Financial Tax Year, June 30th, before stopping the service? Using Dec 31st is the worst time as it's across our business' summer leave and right in the in the middle of our Financial Year. I think many people like myself will be turned off by this experience. Regards DL
I am using wave for this functions only.
If we can't connect our Bank with Wave then why should we use it anymore?
Manually upload is not possible; and if we can download statements from Bank AC then we can make our Book of Accounts from there as well.
Please rethink about your decision or you are going to have a huge loss of customers.
I don't understand why you would change this, this is one of the most important features! You will likely lose a lot of people through this!! Why shut us out? What's your reasoning?
This situation is quite poor actually. You wrote this on 2nd August....
"> @Myron said:
@hungrymarco, Wave was founded on the idea that all small business owners should have access to simple and free financial software. We currently do not have any plans on introducing a paid level of Wave. Open banking only applies to UK and EU bank institutions. Wave will continue to use bank aggregation partnerships and internal products to automatically import bank feed transactions from any institution geographically outside of the United Kingdom and European Union."
I sense the team manning these forums are feeling the pain of the global user community over this issue.
It's clear the EU open banking issue could demand a level of investment in new capability that Wave has made a business decision no to do. But, withdrawing exisiting connection capability to the rest of the world puzzles me. What happened since Aug 2nd?
As a user in Australia, I add my voice to others asking you to reconsider this decision.
It was expected as Waveapps no longer maintained by Original developer team, instead it has sold to third party. So, it's a decision of the new owner of Waveapps. Thanks Waveapps for providing such amazing facility (Bank connect) till now. Now it's time to search other alternatives. Difficult though but necessary one.
This is the most regressive decision I have ever seen. Instead of expanding Wave payroll and accounting services to international waters, Wave decides remove itself from the potential clientele it has under its belt.
Wase, please give me the feature, I can keep the clients happy 😊.
Ps: Tell if you agree... Ps. Ps. We can even pull together as international clients and have the issue sorted by ourselves.
I use bank connections to update my books every week here in Australia, so I don't want to wait until a statement is issued to upload it. Plus I find the statement reconciliation function to be difficult and that's pretty much what this sounds like.
I pay for the Invoicing feature on Wave. So if you're going to take this away I might as well go somewhere else. Please let us know.
This is such a joke! I have a business in Aus and bank feed was one of my favourite features in Wave. One of the very
few reasons, in fact, why I've stuck around with Wave for a few years now and was recommending it to people, despite the serious lack of various other features, that most competitors have been offering for years now. Without the feed feature, what can Wave even do, that a beat-up Excel spreadsheet can't? If I have to do everything manually, I might as well use Excel, hell it's "free" too.. Time to move to Xero, I guess.. what a shame. Such a stupid move on Wave's part. They are probably gonna lose thousands of users over this "genius" decision.
New Zealander here - VERY DISAPPOINTED about Wave dropping bank feeds in NZ - I'd just signed up my accountant as an admin, they couldn't believe the value of Wave ... they'd asked me how much I'm paying for this... So you did upgrades - and now killed the bank feeds - what I'm disappointed about is that "Free" seems to always have a price ... sigh. From my customer perspective I feel let down by a company making just another "business decision" that is in the company's interest rather than the customer's interest. Allthewhile "pretending" do be customer focused. Especially the way this was communicated and timed .... Grrrrr...!
This a massive mistake and failure, businessBUILDERS network has recommended your Product since it first showed up. In little of this reduction in the Product features we will withdraw all further recommendations. Our over 50 million company members world-wide have had a very positive up-take and use it with the Credit Card payment feature. It's a requirement to all Australian and New Zealand clients that having the data automatically loaded. Over 4,000 accounting practices recommend and they are members and we will advise them to look at our MYOB product.
Thanks for offering solutions along with the bad news. Luckily, I only handle a small community group, so this is not too much trouble, but at the same time, this feature was one reason why I chose Wave.
This is very bad news and a dealbreaker (in Australia).There is nothing wave offers me now that excel doesnt. Why would you do this? Please reconsider. I was very grateful for your system.
Comments
So, I've had a quick look around Slickpie and Akounting. For me and my use cases, Wave stays functionally superior. What you get for free (Akounting needs paid plugins for journals, balance sheet etc) (SlickPie's cash reporting seems to be absent) especially receipt scanning made me think if there was another way to overcome the problem of getting bank transactions from different accounts easily to load into Wave.
So, I checked out mint.com which offers a free service to consolidate your bank accounts. I successfully dumped a single spreadsheet with all bank transactions from different accounts. Now this can be massaged for upload into Wave.
Not ideal, but sure better than going into each bank and downloading one by one etc.
Anyone else doing this?
I think this is better than changing accounting systems and dumping the learning and investment already made in Wave.
P.S. I am in Australia and tested this on Westpac bank.
Thanks for the notice of the upcoming change, I still love the program, it is free, and I won't have any problem adapting my processes to upload my bank statement for reconciliation and accounting purposes. Thanks again Wave! From a Small business, sole trader and happy customer of Wave, New Zealand
This is terrible news and dropped so casually with a small warning notice.
For the ones who will consider staying with Wave and importing manually (which might not work for everyone even) Wave will take a massive to number of users and the service will definitely suffer for it. I don't think we'll continue to see the same level of customer service, support and updates with fewer users, so it'll probably be better to just cut your losses now and move on to another service. Cuts to a service is almost always followed by additional cuts somewhere and this could be the beginning of Wave shutting down all together in the future. I'd rather be on another service by then.
I guess I'll spend Christmas learning a new accounting system and exporting everything over.
sad to hear that, wave will end up off our countries, i wish there was something i can say to change the decision.
We were waiting thinking that we will have access to Payroll functionalities like US and Canada, worse to hear you taking away the intergral part of the accounting app. it will be so difficult to upload statements manually
Frankly, automated banking import was one of the major points of us using Wave. I recommended Wave to many people just because of it! Sad to hear the news. Since this feature is going to be removed, I will probably just develop my own invoicing tool and customize to my own needs.
I don't understand why this would be done. It's one of the most important features. I use it all the time. Why is it happening? I will probably have to find another accounting system as importing manually is just another jib to do.
@AlexL Could you please wait till the end of our Financial Tax Year, June 30th, before stopping the service? Using Dec 31st is the worst time as it's across our business' summer leave and right in the in the middle of our Financial Year. I think many people like myself will be turned off by this experience. Regards DL
I am using wave for this functions only.
If we can't connect our Bank with Wave then why should we use it anymore?
Manually upload is not possible; and if we can download statements from Bank AC then we can make our Book of Accounts from there as well.
Please rethink about your decision or you are going to have a huge loss of customers.
Please don't do this. That was the most important feature. Will be tough to upload the statement manually.
Need to switch to other tools.
I don't understand why you would change this, this is one of the most important features! You will likely lose a lot of people through this!! Why shut us out? What's your reasoning?
This situation is quite poor actually. You wrote this on 2nd August....
"> @Myron said:
I sense the team manning these forums are feeling the pain of the global user community over this issue.
It's clear the EU open banking issue could demand a level of investment in new capability that Wave has made a business decision no to do. But, withdrawing exisiting connection capability to the rest of the world puzzles me. What happened since Aug 2nd?
As a user in Australia, I add my voice to others asking you to reconsider this decision.
Nowhere do you explain why you would take this decision. Tell us why? We deserve an explanation.
It was expected as Waveapps no longer maintained by Original developer team, instead it has sold to third party. So, it's a decision of the new owner of Waveapps. Thanks Waveapps for providing such amazing facility (Bank connect) till now. Now it's time to search other alternatives. Difficult though but necessary one.
Wave goodbye to Wave users outside North America!
Instead of expanding Wave payroll and accounting services to international waters, Wave decides remove itself from the potential clientele it has under its belt.
Wase, please give me the feature, I can keep the clients happy 😊.
Ps: Tell if you agree... Ps. Ps. We can even pull together as international clients and have the issue sorted by ourselves.
> @Asilva Bank imports will still be available in US territories moving forward.
In the famous worlds most famous programming words, "Hello World!"
The infamous Wave words, "Goodbye World!" 😄 😄 😄
I use bank connections to update my books every week here in Australia, so I don't want to wait until a statement is issued to upload it. Plus I find the statement reconciliation function to be difficult and that's pretty much what this sounds like.
I pay for the Invoicing feature on Wave. So if you're going to take this away I might as well go somewhere else. Please let us know.
I've created posts in Reddit and Facebook so people can learn about the changes and choose alternatives if they want to.
what a joke! I just moved from Xero to Wave 3 weeks ago, finally settled down.
Now have to pack again and move back to Xero.
This is such a joke! I have a business in Aus and bank feed was one of my favourite features in Wave. One of the very
few reasons, in fact, why I've stuck around with Wave for a few years now and was recommending it to people, despite the serious lack of various other features, that most competitors have been offering for years now. Without the feed feature, what can Wave even do, that a beat-up Excel spreadsheet can't? If I have to do everything manually, I might as well use Excel, hell it's "free" too.. Time to move to Xero, I guess.. what a shame. Such a stupid move on Wave's part. They are probably gonna lose thousands of users over this "genius" decision.
Stupid. Not too smart
Wow this is a deal breaker, and a massive inconvenience. I hope this gets sorted otherwise I will have to move my business elsewhere...
All roads now lead to bullethq.com
Goodbye Wave...
Hello Bullet.
https://www.bullethq.com/ is starting to look like a viable alternative. Lets see how this pans out.
I am leaving... like many... it's only Change
Alternative FREE accounting software. I have only read reviews on SlickPie
New Zealander here - VERY DISAPPOINTED about Wave dropping bank feeds in NZ - I'd just signed up my accountant as an admin, they couldn't believe the value of Wave ... they'd asked me how much I'm paying for this... So you did upgrades - and now killed the bank feeds - what I'm disappointed about is that "Free" seems to always have a price ... sigh. From my customer perspective I feel let down by a company making just another "business decision" that is in the company's interest rather than the customer's interest. Allthewhile "pretending" do be customer focused. Especially the way this was communicated and timed .... Grrrrr...!
Well never had access in Trinidad and Tobago anyways....its all good. The application is still amazing. Thanks for all that you guys do!
This a massive mistake and failure, businessBUILDERS network has recommended your Product since it first showed up. In little of this reduction in the Product features we will withdraw all further recommendations. Our over 50 million company members world-wide have had a very positive up-take and use it with the Credit Card payment feature. It's a requirement to all Australian and New Zealand clients that having the data automatically loaded. Over 4,000 accounting practices recommend and they are members and we will advise them to look at our MYOB product.
Thanks for offering solutions along with the bad news. Luckily, I only handle a small community group, so this is not too much trouble, but at the same time, this feature was one reason why I chose Wave.
This is very bad news and a dealbreaker (in Australia).There is nothing wave offers me now that excel doesnt. Why would you do this? Please reconsider. I was very grateful for your system.