Wave
bookkeeping · US, CAWave offers free core accounting — invoicing, accounting, and receipt scanning — without a subscription fee. It generates revenue through payment processing fees and optional add-ons like Wave Payroll and Wave Advisors. This makes it an attractive entry point for sole proprietors and very small teams on a tight budget. However, Wave is limited to the US and Canada only (it sunset its international operations in 2023). It lacks inventory tracking, has no phone support on the free plan, and its reporting is less sophisticated than paid alternatives. Wave is best suited for service-based freelancers and micro-businesses with straightforward accounting needs.
Quick Answer
Wave is designed for personal and smb businesses. Pricing starts at $19/mo. A free tier is available. Best suited for US, CA-based businesses. Free core accounting — no subscription needed for invoicing, reconciliation, and reporting
Pricing
// verify pricing before launch — prices shown may not reflect current vendor rates
Key Features
- •Free core accounting — invoicing, expense tracking, bank reconciliation
- •Unlimited invoices and estimates on all plans
- •Receipt scanning via mobile app (free on Pro plan)
- •Bank and credit card connection with auto-import
- •Payment processing with credit card and bank payments (2.9% + 30¢ per transaction)
- •Payroll add-on (US only, $20/mo + per-employee fee)
- •Personal and business financial reports (P&L, balance sheet, cash flow)
Pros
- +Free core accounting — no subscription needed for invoicing, reconciliation, and reporting
- +Simple, intuitive interface designed for non-accountants and freelancers
- +Unlimited invoices and estimates even on the free plan
- +Receipt scanning and bank feeds available without upgrading
- +No long-term contracts or commitments — truly free with no trial expiry
Cons
- −US and Canada only — international operations were sunset in 2023, so not suitable for non-North-American businesses
- −No inventory tracking — Wave cannot manage stock or COGS, making it unsuitable for product-based businesses
- −Limited CPA access — accountants cannot collaborate inside the platform the way they can with QuickBooks or Xero
- −Minimal customer support — no phone support on the free plan, only email and chat with slow response times
- −Reporting is basic compared to paid alternatives — no custom report builder or advanced financial analytics
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Compare Wave with other tools
See how Wave stacks up against FreshBooks and QuickBooks Online and Zoho Books side by side.
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Reviewed by Finatune · Last updated 2026-06-15