Small business=heldSince September 2026: 18% → 19%, ±0 points. Inside the 10-point floor: within noise. Read over the models both editions asked.
19%from 18% in September 2026
Inside the floor by 10 pointsRank 3 of 38, unchanged
17 categories · RankedWave
352Judge labels
93First choices
83Negative labels
14 / 14Models named it
17Categories
October 2026 Edition. Every number here is derived from the raw labels under vendor table v2026-10.7, every buyer segment counted.
Best standing
20% in Accounting software for small business buyers
Rank 3 of 55 in the mid-market standingaccepted challenger
0 of 14 models made it the first choice on the direct prompt; 17% of its 30 labels there were negative.
What the models named instead of Wave →By buyer segmentStrongest at small business.
Small business2 of 39
20%35 labels
criticized challenger
Mid-market3 of 55
19%30 labels
accepted challenger
Enterprise60 of 63
0%7 labels
under the label threshold
In accounting software · each standing computed within its segment · bars are 0 to 100 · the accent bar is the product's own best reading
Standing by category
Every category where a model named Wave for a mid-market B2B company. Share is first choices across the direct, paraphrase, budget and scale prompts; rank is within every product named in that category.
| Category | Function | Share | Rank | Negative rate | Labels | Quadrant | Since September 2026 |
|---|---|---|---|---|---|---|---|
| Accounting software | Accounting and close | 19% | 3 of 55 | 17% | 30 | accepted challenger | ▼−1Since September 2026: 21% → 20%, −1 point. Inside the 10-point floor: within noise. Read over the models both editions asked. |
| Financial reporting and dashboards | Planning and analysis | 17% | 2 of 105 | 0% | 13 | accepted challenger | ▲+5Since September 2026: 12% → 17%, +5 points. Inside the 10-point floor: within noise. Read over the models both editions asked. |
| Invoicing software | Receivables and billing | 14% | 4 of 71 | 27% | 37 | criticized challenger | ▼−7Since September 2026: 19% → 12%, −7 points. Inside the 10-point floor: within noise. Read over the models both editions asked. |
| AI accounting assistants | Accounting and close | 9% | 5 of 85 | 0% | 13 | accepted challenger | ▲+3Since September 2026: 7% → 10%, +3 points. Inside the 10-point floor: within noise. Read over the models both editions asked. |
| Accounts receivable automation | Receivables and billing | 8% | 6 of 79 | 0% | 4 | under 10 labels · led by Upflow at 17% | ▲+5Since September 2026: 4% → 9%, +5 points. Inside the 10-point floor: within noise. Read over the models both editions asked. |
| Account reconciliation | Accounting and close | 6% | 7 of 82 | 0% | 7 | under 10 labels · led by FloQast at 33% | ▲+2Since September 2026: 4% → 7%, +2 points. Inside the 10-point floor: within noise. Read over the models both editions asked. |
| Revenue recognition | Accounting and close | 4% | 9 of 77 | 33% | 3 | under 10 labels · led by Maxio at 20% | ▲+5Since September 2026: 0% → 5%, +5 points. Inside the 10-point floor: within noise. Read over the models both editions asked. |
| Global e-invoicing compliance | Tax and compliance | 4% | 6 of 136 | 57% | 7 | under 10 labels · led by Avalara E-Invoicing at 25% | ▲+2Since September 2026: 2% → 4%, +2 points. Inside the 10-point floor: within noise. Read over the models both editions asked. |
| Cash flow forecasting | Treasury and cash | 4% | 12 of 101 | 0% | 3 | under 10 labels · led by Agicap at 13% | ▲+5Since September 2026: 0% → 5%, +5 points. Inside the 10-point floor: within noise. Read over the models both editions asked. |
| Cash application | Receivables and billing | 2% | 21 of 83 | 0% | 1 | under 10 labels · led by Versapay at 9% | ▼−4Since September 2026: 7% → 2%, −4 points. Inside the 10-point floor: within noise. Read over the models both editions asked. |
| Expense management | Spend and procurement | 0% | 17 of 54 | 0% | 4 | under 10 labels · led by Ramp at 35% | ▼−4Since September 2026: 4% → 0%, −4 points. Inside the 10-point floor: within noise. Read over the models both editions asked. |
| Business bill pay | Treasury and cash | 0% | 27 of 98 | 0% | 3 | under 10 labels · led by BILL at 32% | =heldSince September 2026: 0% → 0%, ±0 points. Inside the 10-point floor: within noise. Read over the models both editions asked. |
| Spend management platforms | Spend and procurement | 0% | 26 of 46 | 0% | 2 | under 10 labels · led by Ramp at 44% | newNew since September 2026: not ranked then, 0% now. |
| Board and investor reporting | Planning and analysis | 0% | 78 of 99 | 0% | 1 | under 10 labels · led by OnBoard at 26% | newNew since September 2026: not ranked then, 0% now. |
| Financial close management | Accounting and close | 0% | 78 of 85 | 100% | 1 | under 10 labels · led by FloQast at 55% | newNew since September 2026: not ranked then, 0% now. |
| Financial modeling and scenario planning | Planning and analysis | 0% | 61 of 77 | 0% | 1 | under 10 labels · led by Microsoft Excel at 14% | =heldSince September 2026: 0% → 0%, ±0 points. Inside the 10-point floor: within noise. Read over the models both editions asked. |
| Fixed asset accounting | Accounting and close | 0% | 98 of 107 | 100% | 1 | under 10 labels · led by Sage Fixed Assets at 34% | newNew since September 2026: not ranked then, 0% now. |
Movement
Since September 2026, Wave held within the floor in all seventeen categories: no change cleared 10 points.
Best category · Accounting software · by segment
Mid-market▼−1Since September 2026: 21% → 20%, −1 point. Inside the 10-point floor: within noise. Read over the models both editions asked.
20%from 21% in September 2026
Inside the floor by 9 pointsRank 2 → 3 of 50
Enterprise=heldSince September 2026: 0% → 0%, ±0 points. Inside the 10-point floor: within noise. Read over the models both editions asked.
0%from 0% in September 2026
Inside the floor by 10 pointsRank 48 → 55 of 58
All categories · Mid-market
| Category | September 2026 | Now | Change | Reading | Rank |
|---|---|---|---|---|---|
| Invoicing software | 19% | 12% | ▼−7Since September 2026: 19% → 12%, −7 points. Inside the 10-point floor: within noise. Read over the models both editions asked. | Within noise | Rank 1 → 4 of 71 |
| Accounts receivable auto | 4% | 9% | ▲+5Since September 2026: 4% → 9%, +5 points. Inside the 10-point floor: within noise. Read over the models both editions asked. | Within noise | Rank 9 → 6 of 79 |
| Revenue recognition | 0% | 5% | ▲+5Since September 2026: 0% → 5%, +5 points. Inside the 10-point floor: within noise. Read over the models both editions asked. | Within noise | Rank 63 → 9 of 77 |
| Cash flow forecasting | 0% | 5% | ▲+5Since September 2026: 0% → 5%, +5 points. Inside the 10-point floor: within noise. Read over the models both editions asked. | Within noise | Rank 51 → 12 of 101 |
| Financial reporting | 12% | 17% | ▲+5Since September 2026: 12% → 17%, +5 points. Inside the 10-point floor: within noise. Read over the models both editions asked. | Within noise | Rank 3 → 2 of 105 |
| Cash application | 7% | 2% | ▼−4Since September 2026: 7% → 2%, −4 points. Inside the 10-point floor: within noise. Read over the models both editions asked. | Within noise | Rank 7 → 21 of 83 |
| Expense management | 4% | 0% | ▼−4Since September 2026: 4% → 0%, −4 points. Inside the 10-point floor: within noise. Read over the models both editions asked. | Within noise | Rank 8 → 17 of 54 |
| AI accounting assistants | 7% | 10% | ▲+3Since September 2026: 7% → 10%, +3 points. Inside the 10-point floor: within noise. Read over the models both editions asked. | Within noise | Rank 7 → 5 of 85 |
| Account reconciliation | 4% | 7% | ▲+2Since September 2026: 4% → 7%, +2 points. Inside the 10-point floor: within noise. Read over the models both editions asked. | Within noise | Rank 8 → 7 of 82 |
| Global e-invoicing compl | 2% | 4% | ▲+2Since September 2026: 2% → 4%, +2 points. Inside the 10-point floor: within noise. Read over the models both editions asked. | Within noise | Rank 19 → 6 of 136 |
| Accounting software | 21% | 20% | ▼−1Since September 2026: 21% → 20%, −1 point. Inside the 10-point floor: within noise. Read over the models both editions asked. | Within noise | Rank 2 → 3 of 55 |
| Business bill pay | 0% | 0% | =heldSince September 2026: 0% → 0%, ±0 points. Inside the 10-point floor: within noise. Read over the models both editions asked. | Within noise | Rank 35 → 27 of 98 |
| Spend management platfor | 0% | 0% | newNew since September 2026: not ranked then, 0% now. | New this edition | Rank 26 of 46, unchanged |
| Board | 0% | 0% | newNew since September 2026: not ranked then, 0% now. | New this edition | Rank 78 of 99, unchanged |
| Financial close manageme | 0% | 0% | newNew since September 2026: not ranked then, 0% now. | New this edition | Rank 78 of 85, unchanged |
| Financial modeling | 0% | 0% | =heldSince September 2026: 0% → 0%, ±0 points. Inside the 10-point floor: within noise. Read over the models both editions asked. | Within noise | Rank 59 → 61 of 77 |
| Fixed asset accounting | 0% | 0% | newNew since September 2026: not ranked then, 0% now. | New this edition | Rank 98 of 107, unchanged |
Shares here are read over the models both editions asked, so they can differ by a point or two from the standing above, which counts every model in this edition.
The floor is 10 points of share, measured: how far the models move a leader on their own when the same questions are asked twice with nothing changed. A larger change is movement; a smaller one is noise, and both are shown. Movement is read over the twelve models both editions asked; GPT-6 Luna, Muse Glimmer 30B joined this edition and are in the standing but not yet in the comparison. How the floor is measured · The editions
By model
How each model treated Wave across every prompt where it was named for a mid-market B2B company. Fourteen models, six prompts per category.ShowHide
By model
How each model treated Wave across every prompt where it was named for a mid-market B2B company. Fourteen models, six prompts per category.
ShowHide| Model | First choice | Alternative | Mention | Negative | Labels |
|---|---|---|---|---|---|
| Claude Haiku 4.5 | 3 | 2 | 5 | 1 | 11 |
| GPT-5.4 mini | 1 | 2 | 0 | 0 | 3 |
| Gemini 3.5 Flash | 1 | 5 | 1 | 4 | 11 |
| Perplexity Sonar | 2 | 5 | 0 | 1 | 8 |
| Grok 4.1 Fast | 6 | 2 | 1 | 2 | 11 |
| Mistral Small | 4 | 1 | 1 | 2 | 8 |
| DeepSeek V4 Flash | 3 | 6 | 0 | 0 | 9 |
| Llama 4 Maverick | 1 | 0 | 2 | 1 | 4 |
| Qwen 3.7 Flash | 2 | 2 | 2 | 2 | 8 |
| Kimi K2 | 5 | 8 | 1 | 4 | 18 |
| GLM 4.7 FlashX | 4 | 3 | 1 | 3 | 11 |
| MiniMax M2.5 | 9 | 4 | 1 | 1 | 15 |
| GPT-6 Luna | 2 | 4 | 0 | 1 | 7 |
| Muse Glimmer 30B | 3 | 3 | 1 | 0 | 7 |
By framing
Which of the six questions produced the naming. By model says how often; this says asked what. The first-choice count on the right carries the marks of the models that produced it.
FramingLabels by classFirst choices
Direct11 labelsNone
Paraphrase17 labelsNone
Comparative71 labels4not counted in share
Budget-constrained176 labels93
Scale-constrained7 labelsNone
Negative70 labels1not counted in share
First choiceAlternativeMentionNegative352 labels in all, every segment counted; 93 of the 98 first choices count toward share, since the comparative and negative framings do not. The bar is one segment per label class, to scale within the framing.
What the models said for it
Verbatim evidence the judge attached to positive labels.
“Wave is an excellent choice if you're on an extremely tight budget. It offers unlimited bookkeeping, invoicing, and reporting at zero cost” Claude Haiku 4.5 · Financial reporting · budget prompt · first choice
“For the most limited budgets, I recommend starting with Wave (completely free) or Square (free with transaction fees).” MiniMax M2.5 · Cash application · budget prompt · first choice
“the best choice is usually Wave or QuickBooks Online... stands out for the lowest cost because it has a free plan” GPT-5.4 mini · Financial reporting · budget prompt · first choice
“Wave stands out as the best free AI bookkeeping tool, especially for freelancers or solo operators with simple finances.” Mistral Small · AI accounting assistants · budget prompt · first choice
And against it
Verbatim evidence attached to negative labels. A warning on a product with few labels is a warning; on a product with many, it is one voice among them.
“Use with Extreme Caution: Wave (only for small, low-risk transactions; avoid for high-volume/high-value needs)” Qwen 3.7 Flash · Invoicing software · negative prompt · hard negative
“It is often recommended to avoid unless you are in those countries and only need basic invoicing features.” Mistral Small · Global e-invoicing compl · negative prompt · hard negative
“Significant Negative Reviews: 33% recommendation rate with 8 of 24 negative labels” GLM 4.7 FlashX · Global e-invoicing compl · negative prompt · hard negative
“Payment holds \u2013 funds can be frozen with extensive documentation demands” Kimi K2 · Invoicing software · negative prompt · hard negative
Named alongside
The products named in the same answers as Wave, over the 349 answers that named it. Took the first choice instead counts the answers where the other product was the first choice and Wave was named but was not.ShowHide
Named alongside
The products named in the same answers as Wave, over the 349 answers that named it. Took the first choice instead counts the answers where the other product was the first choice and Wave was named but was not.
ShowHideProductSame answerTook the first choice insteadHead to head
A head-to-head page exists where both products are among a category's top eight. The other rows are the same fact without a page behind them, so they link to the product instead.
What carried it into the answer
The sites and pages cited by the answers that named Wave. A fact about retrieval, not a lever on the model.
Citations exist only for the models that return a source list, five of the fourteen in this edition, so these counts come from 323 of the 349 answers that named Wave and are not a share of its labels.
Domains cited
forbes.com163
xero.com98
nerdwallet.com93
g2.com78
quickbooks.intuit.com73
cnbc.com71
ramp.com60
techrepublic.com59
fitsmallbusiness.com55
zoho.com54
804 of the 804 domain citations in answers naming Wave came from somebody else's page.
Pages cited
Pages are listed as the models cited them.
Search and answers
waveapps.com ranks 4 on Google for the category's searches. In the answers, Wave takes 19% of first choices and Sage Intacct takes 44%.ShowHide
Search and answers
waveapps.com ranks 4 on Google for the category's searches. In the answers, Wave takes 19% of first choices and Sage Intacct takes 44%.
ShowHideIn search
Google, US estimatesPosition for “accounting software”
4
Position for “accounting platforms”
–
not in the top ten
- Searches for its name, Google
- 368,000 a month (“wave”)
- AI search demand for its name, est.
- 253,218 a month
- Organic visits to its site
- about 708,862 a month
- Searches its site ranks for
- 19,080 · 1,532 in the top three
- Sites linking to it
- 17,040
- Paid Google search
- No ads found in the estimate; that does not mean it runs none
In answers
This editionShare of first choices
19%
rank 3 of 55 in accounting software
Segment leader
44%
Sage Intacct
- First choices
- 93 across its categories
- Named in
- 349 answers
- Its own site cited
- in 323 of the answers that named it
Search figures are US estimates from DataForSEO, read September 28, 2026; AI search demand is its modeled, directional estimate, not a count of queries to any assistant. The answers are this edition's. Two measurements side by side: neither is read as the cause of the other.
What it publishes
ShowHide
What it publishes
ShowHideAddresses on waveapps.com
944
subdomains included
Content
506
counted in the table below
Documentation
0
Product · Integration
0 · 0
| Kind | Pages | Last 90 days | 2025-10 to 2026-09 | Latest | Categories named |
|---|---|---|---|---|---|
| Blog | 417 | undated | |||
| Comparison | 38 | undated | |||
| Glossary or explainer | 22 | undated | |||
| Template or tool | 16 | undated | |||
| News or press | 9 | undated | |||
| Report or ebook | 2 | undated | |||
| Webinar or virtual event | 1 | undated | |||
| Podcast or video | 1 | undated |
How it is countedHide how it is counted
Every page waveapps.com exposes, subdomains included. Kind is read from the address and title. The last 90 days, the latest date and the twelve months count pages by when they were published, from the site's feeds, a date in the address, or the page's own publication date, read from up to a hundred of its most recently changed pages; a page that says only when it last changed is counted in its kind but not in when, so the recent counts are a floor, and a kind none of whose pages gives a publication date reads undated. An event counts as online when its address or title says so (webinar, on demand, virtual or online summit); a conference, summit, trade show, expo or roadshow that does not say so is counted as a conference or event, which on a vendor's site is mostly in person. Read September 29, 2026.
Names read as Wave
What the judge wrote, as written, with how often. The vendor table decides that these count as Wave; a claim can dispute any of them.
Wave Accounting 17Wave Starter 3Wave Pro 2Wave (Free Plan) 1Wave Accounting (Starter Plan) 1Wave Apps 1Wave Financial 1
Follow Wave
An email the morning each edition publishes: where this product moved, where it held, and by how much against the noise floor. One address, confirmed by a click; a stop link in every email.
Already following? Everything you follow, with a stop for each.
The company
Wave is its own company.ShowHide
The company
Wave is its own company.
ShowHideIn its own words
Stated by the vendor, not checked- Positioning
- Small Business Software
- For
- small business owners and solopreneurs at every stage—not accountants
- Price stated
- Starter Plan; Pro Plan waveapps.com
- Starting price
- 0 waveapps.com/pricing
- Free plan or trial
- Get started for free; Sign up for the Starter Plan to take the bookkeeping and invoicing basics for a spin. waveapps.com
- Certifications
- PCI-DSS Level 1 Service Provider
- Customers named
- Joshua NadlerTatiyanna W.TruCreates.comEric Silverberg & Eli GladstoneSpeaker LabsRobbie Katherine AnthonyEuphoria LGBT Inc.Tru Williams
- Not stated on the pages read
- Integrations, hosting
What Wave's own pages state, read September 28, 2026: waveapps.com, waveapps.com/pricing. A claimed page can correct any of them.
Is this your product?
Claim this page
Claiming is free and changes nothing in the data. A claimed page shows a verified contact who is told when each edition publishes and when Wave's standing changes by more than the noise floor; the right to propose corrections to the vendor table, meaning names the judge wrote that should or should not read as Wave, applied by version and listed in the change log; and a one-line description supplied by the vendor and marked as such.
What a new claim receivesHide what a new claim receives
A new claim receives the current edition's vendor brief for Wave by email, built from the raw record of the edition. It shows:
- where Wave is named, by buyer and by framing, and which cells hold its first choices;
- the claims the models make when they name it, ranked, with the strongest and the weakest quoted;
- its vocabulary against the segment leader's, and the pages the models cited;
- who was chosen in the answers that did not name Wave, and every reason the record gives;
- a battlecard for each top rival: the head-to-head split, why they win, and the reservation quoted against them;
- one page of published figures cleared to show a buyer.
Badges
Wins only: a badge exists where Wave is ranked in a category's top three this edition. Three sizes, one file each, light and dark; the code is under each.ShowHide
Badges
Wins only: a badge exists where Wave is ranked in a category's top three this edition. Three sizes, one file each, light and dark; the code is under each.
ShowHideAccounting software
Wave is among the products AI models recommend first in Accounting software this edition. Each badge says so in the buyer's words, names the edition, and links to the standing. The next edition issues a new badge; this one stays true as a record of October 2026.
Wide · 320 × 104 Website, beside other badges
Square · 240 × 240 LinkedIn, slides
Compact · 200 × 56 Email signature, footer
Financial reporting and dashboards
Wave is among the products AI models recommend first in Financial reporting and dashboards this edition. Each badge says so in the buyer's words, names the edition, and links to the standing. The next edition issues a new badge; this one stays true as a record of October 2026.
Wide · 320 × 104 Website, beside other badges
Square · 240 × 240 LinkedIn, slides
Compact · 200 × 56 Email signature, footer
Badges read on light and dark pages. Alt text carries the claim, the category, the edition and the index, so it stays a citation where the image does not load.