Actual Budget vs Wave
Detailed comparison to help you choose the right tool for your needs
A
Actual Budget
Open-source envelope budgeting app
4.4
Editorial RatingW
Wave
Free accounting and invoicing for small businesses
4.4
Editorial RatingQuick Comparison
Rating
4.4
vs4.4
Starting Price
Free
vsFree
Pricing Model
free
vsfree
Feature
Actual Budget
Wave
Envelope budgeting
Bank sync (SimpleFIN)
End-to-end encryption
Multi-device sync
Transaction import (QIF/OFX/CSV)
Self-hosted sync server
Invoicing
Accounting
Receipt Scanning
Financial Reporting
Payment Processing
Payroll
Actual Budget Pros
- Completely free with all features
- Local-first — fast and responsive
- End-to-end encrypted sync
- Dead simple self-hosting (single container)
- Active community development (MIT license)
- 70% cheaper than YNAB even with add-ons
Actual Budget Cons
- Mobile apps deprecated (web app only)
- Bank sync US/Canada only
- No investment tracking
- No REST API for automation
- Credit card handling assumes full payoff
- Plugin system not yet shipped
Wave Pros
- Core accounting and invoicing are completely free
- No client or invoice limits
- Clean and simple interface
- Good for freelancers and solopreneurs
- Receipt scanning via mobile app
- No credit card required to start
Wave Cons
- Limited integrations compared to competitors
- No inventory management
- Payroll is a paid add-on
- Payment processing fees are standard not discounted
- No project tracking or time tracking
- Reporting is fairly basic