Why operators leave Wave
Free — but limited to one entity
Wave is free and that is its entire value proposition. The moment you open a second business, you need a second Wave account with no consolidation between them.
No multi-entity support at any price
Wave does not offer multi-entity or consolidated reporting. There is no upgrade path — you simply outgrow it.
Reporting is basic
Wave generates a P&L and balance sheet, but has no budget-vs-actual, no cash flow forecast, and no drill-down into line items across entities.
Bank feed reliability issues
Wave bank connections are powered by third-party providers and have well-documented reliability issues. Missing transactions require manual correction.
How to migrate from Wave to FIRMA
- 1
Accounting → Transactions → Export CSV
Log into Wave and go to Accounting → Transactions. Click Export and download your full transaction history as CSV. Download at least 3 years of history.
- 2
Export Chart of Accounts
In Wave, go to Accounting → Chart of Accounts and export your account list. Wave uses standard account types that import cleanly into FIRMA.
- 3
Import transactions via CSV
In FIRMA, go to Settings → Import Data. Upload your Wave transaction CSV. Map the Wave columns (date, description, amount, account) to FIRMA fields. FIRMA validates before posting.
- 4
Reconnect bank accounts
Wave bank connections do not transfer. Go to Connections → Bank Accounts in FIRMA and reconnect your business accounts. FIRMA will pull forward from the connection date and your CSV covers history.
- 5
Run first consolidated report
Go to Reports → Consolidated P&L. If you have multiple entities, create each one under Settings → Entities and assign the imported data. Your first multi-entity report is ready immediately.
What carries over from Wave
| Data type | Status |
|---|---|
| Transactions | Carries over |
| Chart of accounts | Carries over |
| Customer / vendor list | Carries over |
| Wave invoices | Does not carry (use FIRMA invoicing instead) |
| Wave receipts | Does not carry (re-upload) |
Ready to make the switch?
Most teams complete migration in under 2 hours.
Schedule a migration call