Wave
Wave is a comprehensive accounting and invoicing platform designed specifically for small businesses, freelancers, and solopreneurs. It offers free core accounting features with optional paid services like payment processing, payroll, and bookkeeping support.
Best for
- Small business owners starting out with limited budgets
- Freelancers needing basic invoicing and expense tracking
- Solopreneurs managing simple financial operations
- Contractors requiring professional invoice creation
Not ideal for
- Payment processing fees are higher than some competitors
- Limited integrations compared to premium accounting software
- Advanced features require paid upgrades
- Customer support primarily through chat, no phone support
Try Wave Free
Free plan available · 4 plans available
Visit Wave →Wave Overview
Wave vs Top Alternatives
| Software | Rating | Starting Price | Free Tier | |
|---|---|---|---|---|
| WWave | 4.3 ★ | $16/mo | Yes | |
| ZZoho Invoice | 4.7 ★ | Free | Yes | Compare → |
| FFreshBooks | 4.5 ★ | $23/mo | No | Compare → |
| PPayPal | 4.3 ★ | Free | Yes | Compare → |
| HHarpoon | 4.3 ★ | $9/mo | Yes | Compare → |
| INInvoice Ninja | 4.3 ★ | $14/mo | Yes | Compare → |
Wave Features
Pros & Cons
Pros
- Completely free core accounting and invoicing features
- User-friendly interface designed for non-accountants
- Strong mobile app for on-the-go management
- Automatic bank synchronization with major financial institutions
- No setup or monthly fees for basic functionality
Cons
- Payment processing fees are higher than some competitors
- Limited integrations compared to premium accounting software
- Advanced features require paid upgrades
- Customer support primarily through chat, no phone support
Pricing Plans
Starter
- Unlimited invoices
- Basic accounting
- Receipt scanning
- Expense tracking
- Mobile app
- Cash flow management
Pro
- All Starter features
- Auto-import bank transactions
- Auto-categorize transactions
- Unlimited receipt capture
- Priority support
- First 10 transactions free monthly
Wave Payroll
- Payroll processing
- Tax filing
- Direct deposits
- W-2 forms
- $6 per employee/contractor
Wave Advisors
- Dedicated bookkeeper
- Monthly financial statements
- Expert support
- Tax preparation
- Onboarding assistance
Wave Integrations
Wave connects with 8 services to extend your workflow.
Who Should Use Wave?
Micro Small Businesses & Startups
Wave targets businesses with 9 or fewer employees and $1M-10M revenue who need free, simple tools for invoicing, expense tracking, and basic reporting. It's ideal for budget-conscious users avoiding complex software like QuickBooks, focusing on service-based operations without inventory, manufacturing, or POS needs.
RecommendedFreelancers & Solopreneurs
Core audience for unlimited invoicing, payments (credit cards, Apple Pay), and reports (P&L, cash flow). Wave suits self-employed individuals without accounting expertise who need automated invoicing, real-time payment tracking, and expense management for service-based businesses.
RecommendedContractors & Entrepreneurs
Perfect for independent contractors and entrepreneurs who need instant payouts for 24/7 cash flow management and flexible transfer options to cover expenses. Users report eliminating manual entry and enabling recurring billing for steady revenue.
RecommendedEnterprise Businesses
Wave lacks capabilities for complex accounting workflows, advanced features, and robust support that enterprise businesses require. Limited reporting, no inventory management, and poor customer support make it unsuitable for larger operations.
Not idealWhen to Consider Alternatives
Need robust customer support
Wave's support model is its biggest weakness. Free users have no access to human support—only email responses, and users report overwhelming dissatisfaction with this limitation, citing it as their reason for switching platforms entirely.
Consider QuickBooks instead →Require advanced accounting features
Wave lacks time or project tracking, inventory management, recurring transactions, and has limited reporting with no cash flow statements or customization options. Growing businesses will quickly outgrow Wave's basic capabilities.
Consider QuickBooks instead →Experience reliability issues
Users report recurring glitches including bank feed failures, transaction duplications, auto-categorization bugs, and account freezes. These technical issues undermine the software's core functions and business operations.
Consider Xero instead →Sell physical products with inventory
Wave has no inventory management capabilities, making it unsuitable for businesses selling physical products. Users need inventory tracking, cost of goods sold, and sales tax features built in.
Consider QuickBooks instead →Top Wave Alternatives
Zoho Invoice
A comprehensive invoicing software designed for small businesses and freelancers to create professional invoices, track expenses, and get paid faster. Features customizable templates, automated payment reminders, and seamless integration with multiple payment gateways.
FreshBooks
Cloud-based accounting software designed for freelancers and small businesses to manage invoicing, expense tracking, time tracking, and project management. Known for its user-friendly interface and comprehensive invoicing features that help service-based businesses streamline their financial operations.
PayPal
Global payment platform for online and in-person payments with buyer protection.
Harpoon
Forward-looking time-tracking and invoicing software designed to help freelancers, agencies, and studios plan and forecast profitable futures. Features The Harpoon Method for financial clarity and business growth.
Invoice Ninja
Invoice Ninja is a comprehensive invoicing and billing platform designed for freelancers, consultants, and small businesses. It offers both hosted SaaS and self-hosted options with features like professional invoice templates, online payments, time tracking, and expense management.
Bonsai
Bonsai provides invoicing software with automated billing, payments, and reporting integrated into a full business management suite for small teams. It excels in branded templates, time/expense tracking, and client management to simplify cash flow.
HoneyBook
HoneyBook is an AI-powered client relationship platform that streamlines invoices, payments, proposals, contracts, and automations in one hub for independent professionals. It emphasizes faster payments with 90% of invoices paid on time or early through professional client experiences via customizable templates and portals.
Paymo
Paymo is an all-in-one project management software with built-in time tracking and invoicing tailored for small businesses and teams to manage tasks, bill clients, and track profitability from one platform. It enables seamless conversion of timesheets to invoices, mobile billing, and online payments while offering a free tier for basic needs.