Quick verdict
Our take in a nutshell.
Wave stands out for its free plan: you get invoicing, expense tracking, and basic bookkeeping without a monthly subscription. That's appealing for solos and micro businesses watching costs.
We like Wave for simplicity and price—you can run basic books and send professional invoices at no software cost. Receipt scanning and bank feeds are available. The trade-off is less depth than paid tools: reporting and integrations are more limited.
If you need free accounting and are okay with a simpler feature set, Wave is a solid default. When you outgrow it, migrating to QuickBooks or Xero is a common path.
Rating breakdown
How we scored this product.
Features
4.2Solid basics: invoicing, expenses, receipt scan, bank feeds. Less depth than paid accounting suites.
Pricing
4.8Free for core accounting and invoicing. Paid add-ons for payments and payroll; no mandatory subscription.
Ease of Use
4.5Simple and straightforward. Good for first-time users and minimal accounting needs.
Support
4.2Help center and email support. Fewer support options than paid competitors.
Integrations
4.0Fewer integrations than QuickBooks or Xero. Covers basics; advanced stacks may need workarounds.
Pros and cons
What we liked and what to watch for.
Pros
- Free plan for accounting and invoicing
- Simple bookkeeping and receipt capture
- No subscription required for core features
- Good for freelancers and micro businesses
Cons
- Limited depth compared with paid tools
- Fewer integrations and reporting options
- Payments and payroll are paid add-ons
Who this software is best for
Ideal users and use cases.
Wave is best for businesses that want free accounting software: invoicing, expense tracking, and basic bookkeeping without a monthly fee. It fits solos and very small businesses that don't need advanced reporting or a large integration set.
Who should avoid it
Businesses that need advanced reporting, heavy integrations, or multi-entity books will likely need a paid tool like QuickBooks or Xero.
Pricing overview
What to expect to pay.
Wave's accounting and invoicing are free. Payment processing and payroll are paid add-ons. There's no mandatory subscription for core features.
Core accounting and invoicing are free. Add-ons include Wave Payments (per-transaction) and Wave Payroll (subscription). Check current pricing for your country.
Wave is the only major free option for core accounting and invoicing. Paid competitors offer more features and integrations; Wave wins on cost for basic needs.
Starting price: Free
Key features
What stands out.
- Free invoicing
Create and send professional invoices; set up recurring invoices. No subscription for core invoicing.
- Expense tracking
Track expenses and scan receipts; categorize for basic reports. Keeps records in one place.
- Bank feeds
Connect bank and credit card accounts; import and categorize transactions for bookkeeping.
- Simple reporting
P&L and other basic reports for tax prep and overview. Less customizable than paid tools.
Integrations
Plays well with your stack.
Wave offers bank feeds and its own payment and payroll add-ons. Third-party integration list is smaller than QuickBooks or Xero; sufficient for many very small businesses.
- Bank feeds
- Payment processing (Wave)
- Some third-party apps
- Payroll (Wave)
Alternatives
Other options we review.
QuickBooks OnlineMore features and integrations; paid.
XeroFull accounting with more depth; paid.
FreshBooksFreelancer-focused; paid with stronger time tracking.
Zoho BooksLow-cost paid option with more features.
KashooSimple bookkeeping; another straightforward option.
Compare with other accounting software
See how Wave stacks up head-to-head.
Best accounting software for different use cases
Find accounting software by scenario.
Wave FAQs
Quick answers.