I want Wave to succeed but can't recommend their accounting product to anyone.

Ran into major issues with their accounting product (especially around reporting, and dealing with multiple currencies). Reached out to their team to explain the problem, they agreed it was a significant problem, but didn't really have a desire to fix it. Fast forward 12 months, core problem is still there. My only thought is when your product is free its not always easy to figure out how to prioritize what you work on.

I have found Xero to be the best intersection of function and price for SMB - Quickbooks online also had some significant quirkyness (i.e. one thing Intuit doesn't really highlight is Quickbooks online is not feature complete when compared to Quickbooks desktop - hence there are many desktop features and reports which just don't exist in the online product...)

They're ok for recurring monthly invoices that you run through credit card. I use Intuit Merchant Servics for ACH (traditional checking account + routing id). It's only $.50 per transaction. As I said my caveat is they count your transaction twice (once for your invoice and again when Wave deposits $ into your account). The 'description' is pretty obvious and you just need to delete it manually. I gripe every time I delete such a large transaction. If you use like square for your monthly credit card, then of course Wave's bookkeeping will just count the transaction once...the deposit into your bank from Wave. But at this point, Wave isn't making money off me and I feel a little guilty...but that's their fault. Their invoicing is simple to use so i'll stick with it, for now.

The bookkeeping...besides mint, I don't have any other experience with bookkeeping. I will look more into Quickbooks, though. Business is growing and need to make everything simple.

I've been using Wave for my bookkeeping for years with no regrets. With that being said, I'm a single-person S-corp with no employees and my income is made up of directly-deposited checks in response to weekly/monthly invoices. I typically have one client at a time, as I do software development on a contract basis. In comparison to others, I imagine that my needs are very basic.

I asked around for exactly this a few times over the years. I've never met someone who hadn't regretted using Wave. Maybe it got better recently...