MilooshBest Wave alternatives
Wave is free cloud-based accounting and invoicing software designed for solo entrepreneurs, freelancers, and micro-businesses, offering unlimited invoicing, double-entry bookkeeping, and payment processing without recurring subscription fees on its base plan.
About Wave
Wave is free cloud-based accounting and invoicing software designed for solo entrepreneurs, freelancers, and micro-businesses, offering unlimited invoicing, double-entry bookkeeping, and payment processing without recurring subscription fees on its base plan. Solopreneurs, freelancers, contractors, and micro-businesses seeking zero-subscription invoicing and basic double-entry bookkeeping.
- Unlimited customizable invoicing with payment links and recurring schedules
- Double-entry bookkeeping with income statements, balance sheets, and cash flow reports
- Credit card and bank payment processing (2.9% + $0.60 per card, 1% per ACH)
- Income and expense tracking with sales tax calculation
- Automated bank feeds and automated transaction import (Pro tier)
- Mobile receipt scanning with automatic line-item parsing (Pro tier)
- Collaborator access for accountants and business partners (Pro tier)
- Optional payroll add-on for employee and contractor direct deposits
Platforms
Top alternatives
See how the top Wave alternatives compare on use case fit and core strengths.
FreshBooks
Cloud invoicing and accounting tool built for freelancers and service agencies with time tracking and retainers.
Best for
Freelancers needing built-in time tracking, project profitability, and retainer billing
QuickBooks Online
Intuit industry-standard accounting platform with full CPA ecosystem and inventory management.
Best for
Small businesses requiring CPA collaboration, payroll, and inventory control
Xero
Cloud accounting software with unlimited users, multi-currency support, and robust bank reconciliation.
Best for
Businesses needing multi-user collaboration and automated bank reconciliation feeds
Zoho Books
Cloud accounting software that automates core financial workflows, handles multi-currency invoicing, manages inventory, and integrates with the wider Zoho ecosystem.
Best for
Small to mid-sized businesses and existing Zoho users wanting workflow automation and cost-effective multi-user accounting
Pricing
Free plan: yes
Free trial: yes, 14 days
Entry paid plan
USD 16/ monthly
Starter
USD 0 / monthly
Unlimited customizable invoices, accounting, double-entry reports, and manual bank transaction imports.
Pro
USD 16 / monthly
Adds automatic bank transaction imports, unlimited receipt scanning, multiple users, and live chat support (billed annually at $170/yr = $14.17/mo or monthly at $16/mo).
How to choose
Before switching to Wave, weigh it against its listed alternatives: FreshBooks (Freelancers needing built-in time tracking, project profitability, and retainer billing); QuickBooks Online (Small businesses requiring CPA collaboration, payroll, and inventory control); Xero (Businesses needing multi-user collaboration and automated bank reconciliation feeds); Zoho Books (Small to mid-sized businesses and existing Zoho users wanting workflow automation and cost-effective multi-user accounting). Compare each against the workflow you actually run today — integrations, customization, and the effort required to migrate your existing data usually matter more than headline features. Confirm it runs on the platforms you need (Web, iOS, Android) before switching.
If Wave's feature set above doesn't cover what you need, one of the alternatives compared here — FreshBooks, QuickBooks Online, Xero, Zoho Books — may be a closer fit.
Frequently asked questions
Is Wave completely free?
Wave Starter is genuinely free with no monthly subscription, offering unlimited invoicing and core accounting. Wave charges standard transaction fees when clients pay online via card or bank transfer, and charges $16/month for its optional Pro tier (which includes automated bank feeds and receipt scanning).
How does Wave compare to QuickBooks Online?
Wave is drastically more affordable ($0 vs $38+/mo) and easier to set up for solopreneurs, but lacks the deep CPA ecosystem, inventory tracking, project costing, and advanced reporting found in QuickBooks Online.
Sources
The facts on this page come from Wave's own official site, accessed August 20, 2026. See our Sources Policy for how we handle sourcing.
Head-to-head
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