Which accounting software is better Wave or IRIS Elements?
We compare them based on real user reviews, prices and what features they both offer.
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Wave vs IRIS Elements Basics
| Wave | IRIS Elements | |
| Software Website | Wave Website | IRIS Elements Website |
| HMRC MTD Status | Not Included | In Development |
| Who Can Use It? | Businesses and Self-employed | Businesses and Accountants |
| HMRC Listed Features | None | None |
| Platforms | Web-based application, Android, iOS | Cloud-based application |
Wave vs IRIS Elements Reviews
Wondering if Wave or IRIS Elements has better user reviews. We compared them below.
| Wave | IRIS Elements | |
| Trustpilot Rating | 1.6 | 3.6 |
| Number of Trustpilot Reviews | 126 | 1616 |
| 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 |
Wave vs IRIS Elements Prices
Which is cheaper Wave or IRIS Elements? Here are their prices compared.
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Free Plans & Trials
| Wave | IRIS Elements | |
| Free Plan? | Yes | No |
| Free Trial? | Yes | Yes |
| Free Trial Length? | 30 days | 30 days |
Paid Plan Prices
| Wave | IRIS Elements | |
| Cheapest Plan Cost Per Month | £0.00 | £3.00 |
| Mid-Tier Plan Cost Per Month | NA | £9.00 |
| Top Plan Cost Per Month | NA | £25.60 |
Wave vs IRIS Elements Features
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Wave Basic Features
- Get unlimited income and expense tracking.
- Add unlimited partners, collaborators, or accountants.
- Know if you should charge clients more just by glancing at your dashboard.
- Make unlimited bank and credit card connections.
- Access helpful reports like Overdue Invoices & Bills and Profit & Loss.
Wave Software Integrations
- Zapier
IRIS Elements Basic Features
- Sole Trader & Partnerships​
- Limited Company FRS105, FRS 102S1A & Dormant​
- Simple chart of accounts – fixed account descriptions​
- Simple trial balance entry​
- Direct electronic filing to Companies House​
IRIS Elements Software Integrations
- KashFlow
- Xero
- Quickbooks
- HMRC
Common Feature Comparison
| Wave | IRIS Elements | |
| Payroll Software Integration | Yes | Yes |
| Track VAT | Yes | Yes |
| VAT Filing | Yes | Yes |
| Real-Time Financial Reports | Yes | Yes |
| Prepare Self Assessment | Yes | Yes |
| Income Tax Estimates | Yes | Yes |
| Manage Income & Expenses | Yes | No |
| Create Invoices | Yes | Yes |
| Forecast Cash Flow | Yes | Yes |
| Accept and Make Payments In Different Currencies | Yes | No |
| Employee Time Tracking | No | No |
| Projects | No | No |
| Bank Feed Integration | Yes | Yes |
| End of Year Filings | Yes | Yes |
| Capture Bills And Receipts | Yes | No |
| Bulk Reconcile Transactions | Yes | No |
| Track Inventory & Stock Levels | No | No |
| Wave | IRIS Elements | |
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