Atlas Quick Start Guide for Wave Users

Everything you know in Wave, mapped to Atlas. Reading time: 6 minutes

Terminology Rosetta Stone

Wave Term	Atlas Equivalent	Notes
Chart of Accounts	Chart of Accounts	Same concept
Customers	Customers	Same — contacts you invoice
Vendors	Vendors	Same — contacts you pay
Invoices	Invoices	Same concept
Recurring Invoices	Recurring Invoices	Auto-generated on schedule
Bills	Bills	Same concept
Transactions	Bank Transactions / Journal Entries	Bank imports or manual entries
Receipts (receipt scanning)	Attachments	Upload receipts to transactions
Bank Connections	Banking	Bank account management
Reconciliation	Bank Reconciliation	Same workflow
Reports	Reports	Atlas has 15+ types vs Wave's core 5
Accounting > Journal Transactions	Journal Entries	Multi-line debit/credit entries
Sales Tax	Tax Rates	Tax configuration for invoices and bills
Payroll (paid add-on)	Payroll (built-in)	Full payroll included
Settings > Users	Settings > Team Members	User management with roles
Business Profile	Organization / Company	Your business entity

Where Did My Stuff Go?

What You Want to Do	In Wave	In Atlas
Create an invoice	Sales > Invoices > Create	Invoices > New Invoice
Create a recurring invoice	Sales > Recurring Invoices	Invoices > Recurring tab
Record a payment	Invoices > Record Payment	Payments > New Payment
Enter a vendor bill	Purchases > Bills > Create	Bills > New Bill
Pay a vendor	Purchases > Bills > Record Payment	Payments Made > New Payment
Record a journal entry	Accounting > Journal Transactions	Journal Entries > New Entry
Import bank transactions	Banking > Connected Accounts	Banking > [Account] > Import
Reconcile	Accounting > Reconciliation	Banking > [Account] > Reconcile
View Chart of Accounts	Accounting > Chart of Accounts	Chart of Accounts (sidebar)
Run Income Statement	Reports > Income Statement (P&L)	Reports > Profit & Loss
Run Balance Sheet	Reports > Balance Sheet	Reports > Balance Sheet
Run Sales Tax Report	Reports > Sales Tax	Reports > Tax Summary
Run AR Aging	Reports > Aged Receivables	Reports > AR Aging
Run Cash Flow	Reports > Cash Flow	Reports > Cash Flow
Manage users	Settings > User Management	Settings > Team Members
Run payroll	Payroll tab (paid add-on)	Payroll (sidebar — built-in)

What Atlas Does Better

1. Everything Wave Does, Plus Enterprise Features

Wave is great for basic bookkeeping. Atlas includes everything Wave has plus:

Purchase orders with bill conversion
Multi-step approval workflows
Budget creation and variance analysis
Fixed asset tracking and depreciation
Inventory management with costing methods
Multi-entity consolidation
Deferred revenue/expense schedules

2. Role-Based Access Control

Wave has limited user roles. Atlas provides 6 hierarchical roles with 61 granular permissions:

Owner > Admin > Accountant > Bookkeeper > Viewer > Employee
Separation of duties: bookkeepers create, accountants approve
Company-level access control (restrict users to specific companies)

3. AI-Powered Transaction Categorization

Wave has basic categorization. Atlas uses a 4-tier AI engine:

Exact rules → Fuzzy matching → Keyword detection → LLM fallback
Auto-posts at 90%+ confidence
Learns from every correction you make
Custom rules for full control

4. Multi-Entity Consolidation

Wave supports multiple business profiles but has no consolidated reporting. Atlas provides:

Multiple companies within one organization
Consolidated Balance Sheet, P&L, Cash Flow, and Trial Balance
Intercompany eliminations
Multi-currency translation (ASC 830)

5. Multi-Currency with FX Revaluation

Wave handles basic foreign currency invoices. Atlas supports 150+ currencies with:

Exchange rate management (manual or API-based updates)
Period-end FX revaluation (unrealized gain/loss booking)
Multi-currency consolidated reporting

6. Comprehensive Tax Compliance

Wave is US/Canada focused. Atlas supports 6 countries:

US: 1099-NEC/MISC/K, Schedule C, State Sales Tax, Quarterly Estimates, W-2
UK: VAT MTD (Making Tax Digital)
Canada: GST/HST
Australia: BAS (Business Activity Statement)
EU: VAT OSS (One-Stop Shop)
Pakistan: WHT certificates, provincial sales tax

Migration: Moving from Wave to Atlas

Wave isn't a direct-connect integration — today the only native connector is QuickBooks Online (Xero is marked Coming Soon under Settings > Integrations). Migrating from Wave is a quick CSV export and import: pull your data out of Wave, then run it through Atlas's import wizard.

The Settings > Integrations screen. QuickBooks Online is the only connectable provider today; Wave migrates via CSV import.

Step 1: Export from Wave

Data	How to Export from Wave
Chart of Accounts	Accounting > Chart of Accounts > Export (CSV)
Customers	Sales > Customers > Export
Vendors	Purchases > Vendors > Export
Invoices	Sales > Invoices > Export
Bills	Purchases > Bills > Export
Transactions	Accounting > Transactions > Export (CSV)
Bank Statements	Banking > Download statements (CSV/OFX)

Step 2: Import into Atlas

Go to Settings > Import Data in Atlas
Download the matching CSV template (Customers, Vendors, Chart of Accounts, Invoices, or Bills) so your Wave columns line up
Upload your CSV file and follow the 4-step wizard: Upload → Preview → Import → Complete
Preview the data, resolve any conflicts, and confirm

The Settings > Import Data screen: a 4-step Upload → Preview → Import → Complete wizard that accepts CSV or IIF files, with downloadable CSV templates for Customers, Vendors, Chart of Accounts, Invoices, and Bills.

Tip: to import just your chart of accounts, use Settings > Import COA (CSV or XLSX, with a downloadable template).

Step 3: Set Opening Balances

Pick a cutover date (ideally month-end)
Run Balance Sheet and P&L in Wave as of that date
Enter opening balances in Atlas during onboarding
Verify with an Atlas Trial Balance

Step 4: Verify

Compare P&L totals between Wave and Atlas
Match Balance Sheet accounts
Check AR and AP aging match
Process a test invoice and payment cycle

10-Minute Setup Checklist

Sign up and create your organization
Run the onboarding wizard — company name, country, industry
Chart of Accounts — import your Wave COA (CSV) or pick a template
Opening balances — enter from your Wave Balance Sheet
Import customers — upload your Wave customer export
Import vendors — upload your Wave vendor export
Import open invoices and bills — bring over unpaid items
Add bank accounts — connect for reconciliation
Invite your team — assign roles
Run a P&L — compare against Wave for validation

Feature Comparison

Feature	Wave	Atlas
Pricing	Free (core accounting)	Subscription-based
Double-entry bookkeeping	Yes	Yes
Chart of Accounts	Yes	Yes (hierarchical, templated)
Invoicing	Yes	Yes + recurring + credit notes
Bills & AP	Yes	Yes + purchase orders + approvals
Bank reconciliation	Yes	Yes + AI auto-matching
AI categorization	Basic	4-tier with confidence scoring
Multi-company	Multiple profiles	Multiple per org + consolidation
Consolidated reporting	No	Yes (BS, P&L, CF, TB)
Users	Limited	Unlimited
User roles	Fixed (basic)	6 roles, 61 permissions
Payroll	Paid add-on (US/CA)	Built-in (5 countries)
Multi-currency	Basic (invoicing)	150+ currencies + FX revaluation
Inventory	No	Yes (FIFO, LIFO, WA)
Fixed assets	No	Yes (3 depreciation methods)
Projects	No	Yes + time tracking
Budgets	No	Yes + variance analysis
Approval workflows	No	Multi-step with conditions
Audit trail	Limited	Field-level, unlimited retention
Tax compliance	US/CA	US, UK, CA, AU, EU, PK
1099 forms	No	Yes (NEC, MISC, K)
Period close / book locking	No	Yes (monthly + year-end)
API	Developer portal	REST (~485 endpoints)
Receipt scanning	Yes	Attachments (OCR planned)
Mobile app	No	Responsive web

FAQ

Q: Wave is free. Why should I pay for Atlas? A: Wave's free tier covers basic accounting and invoicing. Atlas includes features Wave charges for (payroll) and features Wave doesn't have at all:

Multi-entity consolidation
AI transaction categorization
6-country tax compliance (1099, VAT, BAS, GST)
Approval workflows and RBAC
Fixed assets, inventory, budgeting, projects
Enterprise-grade security (database-level RLS)

If you've outgrown Wave's capabilities, Atlas is the next step without the per-seat pricing of QuickBooks or Xero.

Q: I use Wave Payroll. Does Atlas replace it? A: Yes. Atlas includes full payroll for 5 countries with tax calculations, W-2/T4 generation, benefits management, and employee self-service — built into the platform, not a separate product.

Q: Can I import my Wave data? A: Yes. Export your data from Wave as CSV files and import into Atlas using the import wizard at Settings > Import Data. The process takes about 15 minutes.

Q: Wave's receipt scanning is really useful. Does Atlas have it? A: Atlas supports document attachments on all transactions — upload receipts and documents to invoices, bills, and journal entries. AI-powered OCR for automatic data extraction from receipts is planned.

Q: I have multiple businesses on Wave. How does Atlas handle that? A: Atlas supports multiple companies within a single organization. You can switch between companies from the sidebar and generate consolidated reports across all of them — something Wave can't do.

Q: Is Atlas too advanced for a small freelancer or sole proprietor? A: Atlas works for businesses of all sizes. If you need proper accounting (not just invoicing), Atlas provides a clean interface with progressive complexity. Features like Schedule C and quarterly estimates are specifically designed for sole proprietors.

Wave Quick Start