Wave vs 123 Sheets: Which Is Better Accounting Software?

We compare them based on real user reviews, prices and what features they both offer.

Wave vs 123 Sheets Basics

	Wave	123 Sheets
Software Website	Wave Website	123 Sheets Website
HMRC MTD Status	Not Included	Approved
Who Can Use It?	Businesses and Self-employed	Agents and businesses
HMRC Listed Features	None	Digital record keeping, Updates to HMRC for self-employment, Tax estimates from HMRC based on provided updates
Platforms	Web-based application, Android, iOS	Web-based application

Note data for this section comes from HMRC here and here

Wondering if Wave or 123 Sheets has better user reviews. We compared them below.

	Wave	123 Sheets
Trustpilot Rating	1.6	4.8
Number of Trustpilot Reviews	126	1239
iPhone App Rating	4.5	No Rating
Number of iPhone Reviews	5700	No Reviews
Android App Rating	4.7	No Rating
Number of Android Reviews	23000	No Reviews

Please note ratings we’re accurate at the time of writing but may have since changed

Which is cheaper Wave or 123 Sheets? Here are their prices compared.

Data taken from each company’s website at the time of writing but may have since changed.

Data taken from each company’s website at the time of writing but may have since changed.

	Wave	123 Sheets
Payroll Software Integration	Yes	No
Track VAT	Yes	Yes
VAT Filing	Yes	Yes
Real-Time Financial Reports	Yes	No
Prepare Self Assessment	Yes	No
Income Tax Estimates	Yes	Yes
Manage Income & Expenses	Yes	Yes
Create Invoices	Yes	No
Forecast Cash Flow	Yes	No
Accept and Make Payments In Different Currencies	Yes	No
Employee Time Tracking	No	No
Projects	No	No
Bank Feed Integration	Yes	No
End of Year Filings	Yes	No
Capture Bills And Receipts	Yes	No
Bulk Reconcile Transactions	Yes	No
Track Inventory & Stock Levels	No	No

	Wave	123 Sheets
Pros	User Friendly Meets Business Needs Pricing User Interface One Stop Shop	Price Easy to use Fast filing and prompt support Submitting VAT returns digitally Excel compatibility
Cons	Customer Service Expensive Not User Friendly Takes Time Learning Curve	Being logged out too soon and very often VAT return page doesn’t include the period dates Process navigation could be improved Price goes up every year Takes as much time as posting it for free to HMRC