Finding a Replacement for Wave Accounting Software

Here at Pandle we’re proud of our reputation for providing high-quality, powerful bookkeeping software for a low price which is affordable for every small business owner. It meant that when Wave announced they’re withdrawing their accounting software services from the UK, our phones started to ring with people desperate for an alternative as a replacement.

Why are Wave withdrawing some accounting software features from the UK?

Sadly, Wave have confirmed that their bank feed service will no longer be available for UK and EU customers as of September 2019.

It’s because the Open Banking Regulations came in to effect on 14^th September 2019, which changed the rules around the way bank account information is accessed and shared.

Unfortunately, Wave have said that the changes they would need to make for their software to comply with the Regulations are too expensive. So, the features which this affects won’t be available to Wave’s UK and EU customers.

How can Pandle bookkeeping software help me as an alternative to Wave?

Pandle is accounting software which we designed to reduce errors and save time for our users. We offer largely the same features as other bookkeeping software providers, but at a much lower cost, and in a more accessible and intuitive interface.

The bank feed system that has led to Wave’s withdrawal from the market is the same as our Bank Feeds feature. It’s an invaluable tool which supports users by automatically importing transactions from their bank accounts into Pandle.

Because the process is automated, much less time is spent entering information manually, which carries its own risks of data entry errors (the cause of so many weird and wonderful mistakes!).

Is Pandle an affordable alternative to Wave accounting software?

There are other software solutions available that, like Pandle, offer the same features that Wave do. Pandle is priced much more competitively, and is a realistic alternative for smaller businesses.

Our free package is incredibly powerful. The package which includes the Bank Feeds feature similar to Wave costs £5 per month. This also means that anyone looking for a cheap or free alternative to Bokio after their recent pricing re-structure, might find refuge with Pandle!

Is it easy to transfer to Pandle from Wave?

Switching to Pandle from any accounting software is as straightforward and hassle-free as possible. This easy to follow guide explains the changeover process.

If you come across any issues, you can always chat to our support team. They’re quite nice.

Is Pandle MTD ready?

Yes! Pandle is fully HMRC compliant for Making Tax Digital (MTD), so users can submit their VAT returns through our software.

We’ll be extending compliance as MTD rolls out for other types of tax returns too. Our users can relax knowing we’re here to help now, and in the future.

What about my other feeds, like Paypal?

Our PayPal Feed is actually a bespoke integration, so it’s more stable than most other providers. It also means we can enable Pandle to take care of more background processes for you, because we know it’s safe to do so.

For example, whilst most software providers ask you to create a separate account for each currency showing in PayPal, Pandle automatically creates sub-categories for each currency it detects. This means you don’t have to spend as much time setting everything up, and can manage everything from one place more easily.

Pandle will also automatically help you avoid duplicate transactions on transfers between PayPal and bank accounts that you name in Pandle. That way you only have to deal with the transaction once in your banking, rather than duplicating work.

Pandle will even carry out a balance check to make sure that your balance in PayPal matches your Pandle balance, and notify you if there’s a discrepancy!

Learn more about using Pandle to make business accounting easier. Create an account today and decide what to do with all the extra time you get back.