Wave vs FreshBooks
Detailed comparison to help you choose the right tool for your needs
W
Wave
Free accounting and invoicing for small businesses
4.4
Editorial RatingF
FreshBooks
Accounting software built for owners
4.5
Editorial RatingQuick Comparison
Rating
4.4
vs4.5
Starting Price
Free
vs$19
Pricing Model
free
vspaid
Feature
Wave
FreshBooks
Invoicing
Accounting
Receipt Scanning
Financial Reporting
Payment Processing
Payroll
Time Tracking
Expense Management
Project Profitability
Double-Entry Accounting
Client Portal
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
FreshBooks Pros
- Best-in-class invoicing experience
- Excellent time tracking built in
- Very easy to learn for non-accountants
- Great client portal and payment experience
- Strong mobile apps for iOS and Android
- Friendly and responsive customer support
FreshBooks Cons
- Client limits on lower plans
- Not ideal for product-based businesses
- Limited inventory management
- Reporting is less advanced than competitors
- No payroll feature built in
- Double-entry accounting added late and feels bolted on