W
Wave4.3/5vsBo
Bonsai4.3/5Wave vs Bonsai (March 2026)
| WWave | BoBonsai | |
|---|---|---|
| Price | Free | $15/mo |
| Rating | 4.3/5 | 4.3/5 |
| Free Tier | ✓ Yes | ✗ No |
| Best For | Small business owners starting out with limited budgets, Freelancers needing basic invoicing and expense tracking | Freelancers and consultants needing quick proposals, contracts, and invoicing, Creative and marketing agencies managing campaigns and retainers |
Quick Verdict
Both Wave and Bonsai earn a 4.3/5 rating — your choice depends on which feature set and pricing model fits your workflow best.
Quick Overview
W
Wave
Wave is a comprehensive accounting and invoicing platform designed specifically for small businesses, freelancers, and s...
- Best for: Small business owners starting out with limited budgets, Freelancers needing basic invoicing and expense tracking
- Starting price: Free
- Category: Invoicing Software
- Founded: 2010
- Pricing model: freemium
Bo
Bonsai
Bonsai provides invoicing software with automated billing, payments, and reporting integrated into a full business manag...
- Best for: Freelancers and consultants needing quick proposals, contracts, and invoicing, Creative and marketing agencies managing campaigns and retainers
- Starting price: $15/mo
- Category: Invoicing Software
- Founded: N/A
- Pricing model: subscription
Feature Comparison
| Feature | Wave | Bonsai |
|---|---|---|
| Unlimited Invoicing | ✓ | ✗ |
| Online Payment Processing | ✓ | ✗ |
| Bank Transaction Import | ✓ | ✗ |
| Receipt Scanning | ✓ | ✗ |
| Multi-Currency Support | ✓ | ✗ |
| Mobile App | ✓ | ✗ |
| Financial Reports | ✓ | ✗ |
| Recurring Invoices | ✓ | ✗ |
| Customer Management | ✓ | ✗ |
| Tax Preparation Ready | ✓ | ✗ |
| Unlimited invoices | ✗ | ✓ |
| Online payments | ✗ | ✓ |
| Automated reminders | ✗ | ✓ |
| Branded invoice templates | ✗ | ✓ |
| Recurring billing | ✗ | ✓ |
| Multi-currency support | ✗ | ✓ |
| Multi-tax rate support | ✗ | ✓ |
| Time and expense billing | ✗ | ✓ |
| QuickBooks Online sync | ✗ | ✓ |
| Financial reporting | ✗ | ✓ |
| Mobile app | ✗ | ✓ |
| Tax categorization | ✗ | ✓ |
| Client portal | ✗ | ✓ |
Pricing Comparison
Prices last verified: March 16, 2026
Wave
Free
Starting price
freemium · 4 plans
Starter
FreeProPopular
$16/moWave Payroll
$40/moWave Advisors
$149/moBonsai
$15/mo
Starting price
subscription · 2 plans
Essentials
$25/moPremiumPopular
$39/moPros & Cons
Wave
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
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
Bonsai
Pros
- Streamlines invoicing by automating generation from projects, reducing billing time up to 75%
- Easy-to-use interface ideal for freelancers and small businesses
- Professional branded invoices build client trust
- All-in-one platform consolidates projects, clients, and billing
Cons
- Lacks client-facing project visibility with no task progress login for clients
- Requires project creation before some invoicing processes
- Payment processing fees add to overall costs
- Some features like bank sync delayed to 2026
Which Is Best for You?
W
Choose Wave if:
- 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
- You want to start with a free plan
Bo
Choose Bonsai if:
- Freelancers and consultants needing quick proposals, contracts, and invoicing
- Creative and marketing agencies managing campaigns and retainers
- Software teams tracking billable hours and projects
- Small businesses streamlining operations
- Budget is a priority ($15 vs $16)
Our Verdict
🏆
WWave — WinnerBoBonsai — Runner-up
After thorough analysis, Wave takes the lead in this comparison, though both tools share an identical 4.3/5 rating.
Wave is best for Small business owners starting out with limited budgets and Freelancers needing basic invoicing and expense tracking. Completely free core accounting and invoicing features.
Bonsai remains a strong alternative, especially for Freelancers and consultants needing quick proposals, contracts, and invoicing and Creative and marketing agencies managing campaigns and retainers. Streamlines invoicing by automating generation from projects, reducing billing time up to 75%.
Pricing-wise, Bonsai is the more affordable starting option. Evaluate free trials of both before committing.
Explore More
Wave Alternatives
Bonsai Alternatives
Category Resources
Related Reading
Frequently Asked Questions
Both Wave and Bonsai earn a 4.3/5 rating — your choice depends on which feature set and pricing model fits your workflow best.
Bonsai starts at $15/mo, while Wave starts at $16/mo (free tier available).
Yes. Most users can migrate data between the two. Check both platforms for import/export tools before switching.
Wave integrates with PayPal, Stripe, Shopify, Square. Bonsai integrates with QuickBooks Online, Credit card payment gateways, ACH payments, Bank sync. Both offer solid third-party connectivity, though the best choice depends on your existing tech stack.
Both tools are designed for ease of use. Wave is best for Small business owners starting out with limited budgets and Freelancers needing basic invoicing and expense tracking, while Bonsai excels for Freelancers and consultants needing quick proposals, contracts, and invoicing and Creative and marketing agencies managing campaigns and retainers. Consider trying both free trials to judge which interface suits your workflow.
Wave has a 4.3/5 rating from 350,000 reviews, while Bonsai scores 4.3/5 from 1,020 reviews. Higher review counts generally indicate a more established support ecosystem.
For small businesses, Bonsai may be more budget-friendly starting at $15/mo. However, Wave (Free) could offer better value depending on the features you need most.
For enterprise use, consider which offers more advanced plans. Wave has 4 plans while Bonsai has 2 plans. Evaluate each tool's enterprise features, security compliance, and team management capabilities before committing.
Check each tool's website for the latest mobile app availability. Both Wave and Bonsai offer web-based access, and many modern SaaS tools provide companion mobile apps for iOS and Android.
Choose Wave if you prioritize completely free core accounting and invoicing features and want to start free. Choose Bonsai if you value streamlines invoicing by automating generation from projects, reducing billing time up to 75%.