Wave vs FreshBooks
Head-to-head comparison of two popular accounting software tools. See which one is right for your needs.
Last updated: March 2026
Quick Verdict
FreshBooks has a higher rating (4.5/5) compared to Wave (4.2/5). However, Wave offers a free tier which FreshBooks does not.
Wave
4.2Wave is a completely free accounting software for small businesses. It offers invoicing, accounting, receipt scanning, and financial reporting at no cost. Wave makes money through optional paid services like payroll and payment processing.
Pricing
Free
Key Features
- Invoicing
- Accounting
- Receipt Scanning
- Bank Connections
- Financial Reports
- Multi-business
- Payment Processing
- Payroll (Paid)
Pros
- + Completely free
- + Unlimited invoicing
- + Good for basics
- + No credit card required
Cons
- − Limited features
- − No inventory
- − Basic reporting
FreshBooks
4.5FreshBooks is accounting software designed specifically for service-based businesses and freelancers. It excels at invoicing, time tracking, and getting paid. FreshBooks is known for its user-friendly interface and excellent customer support.
Pricing
$19/month
Key Features
- Invoicing
- Time Tracking
- Expense Tracking
- Proposals
- Client Portal
- Online Payments
- Project Profitability
- Mobile Apps
Pros
- + Easy to use
- + Great invoicing
- + Excellent support
- + Built for service businesses
Cons
- − Limited for product businesses
- − Expensive for multiple users
- − Fewer integrations