FreshBooks vs Wave
A head-to-head comparison to help you pick the right tool
Last updated: April 30, 2026
FreshBooks
FreshBooks is an accounting and invoicing platform designed specifically for freelancers, self-employed professionals, and small service-based businesses. It is known for its exceptional ease of use and beautiful invoicing tools. FreshBooks focuses on making accounting simple for non-accountants who just need to track income, expenses, and get paid quickly.
Wave
Wave is a free accounting and invoicing platform designed for small businesses, freelancers, and solopreneurs. It offers genuinely free accounting, invoicing, and receipt scanning with no subscription fee. Wave makes money through payment processing and payroll add-ons. It is one of the best free accounting tools available for very small businesses with simple needs.
Pros
- ✓Easiest accounting software to learn and use — ideal for non-accountants
- ✓Beautiful, professional invoice templates
- ✓Built-in time tracking and project management
- ✓Excellent mobile app for tracking expenses on the go
Cons
- ✗Not suitable for product-based businesses needing inventory management
- ✗Limited features for complex accounting needs
- ✗More expensive than competitors for what you get on lower tiers
- ✗Payroll requires third-party integration
Pros
- ✓Genuinely free accounting and invoicing — no subscription required
- ✓Clean and easy to use interface
- ✓Good enough for most very small businesses and freelancers
- ✓Receipt scanning and bank connections included free
Cons
- ✗Limited features compared to paid alternatives
- ✗Customer support is minimal on the free plan
- ✗Not suitable for growing businesses with complex needs
- ✗Payroll and payment processing add-ons can add up in cost
FreshBooks vs Wave: Side by Side
| Factor | FreshBooks | Wave |
|---|---|---|
| User Rating | N/A | N/A |
| Category | Accounting Software | Accounting Software |
| Pricing Model | Paid | Freemium |
| Starting Price | $19/mo | Free |
| Best For | Freelancers and small service businesses wanting simple, beautiful invoicing and accounting | Solopreneurs and very small businesses wanting free accounting and invoicing software |
| Our Pick | — | — |
FreshBooks Features
- ✓Invoicing
- ✓expense tracking
- ✓time tracking
- ✓project management
- ✓payments
- ✓financial reporting
- ✓bank reconciliation
- ✓mobile app
- ✓client portal
Wave Features
- ✓Free accounting
- ✓invoicing
- ✓receipt scanning
- ✓bank connections
- ✓financial reporting
- ✓payments processing
- ✓payroll add-on
- ✓mobile app
Pricing Comparison
Our Take
Choose FreshBooks if freelancers and small service businesses wanting simple, beautiful invoicing and accounting. Choose Wave if solopreneurs and very small businesses wanting free accounting and invoicing software.
Best For
Freelancers and small service businesses wanting simple, beautiful invoicing and accounting
Best For
Solopreneurs and very small businesses wanting free accounting and invoicing software
How FreshBooks and Wave Are Similar
- •Both are Accounting Software platforms designed for business teams
- •Both offer web-based access with no software installation required
- •Both provide customer support and onboarding resources
- •Both integrate with popular third-party business tools
- •Both offer a trial or demo to evaluate before purchasing
Also Consider
If neither FreshBooks nor Wave is the right fit, Dext is worth evaluating.
Dext
Bookkeepers, accountants, and businesses with high receipt volumes wanting to eliminate manual data entry
From $15/mo
Frequently Asked Questions
What is the difference between FreshBooks and Wave?
FreshBooks is best for freelancers and small service businesses wanting simple, beautiful invoicing and accounting. Wave is best for solopreneurs and very small businesses wanting free accounting and invoicing software.
Which is better, FreshBooks or Wave?
Choose FreshBooks if freelancers and small service businesses wanting simple, beautiful invoicing and accounting. Choose Wave if solopreneurs and very small businesses wanting free accounting and invoicing software.
How much does FreshBooks cost?
FreshBooks starts at $19/mo. Pricing model: Paid.
How much does Wave cost?
Wave starts at Free. Pricing model: Freemium.
Who should use FreshBooks?
Freelancers and small service businesses wanting simple, beautiful invoicing and accounting
Who should use Wave?
Solopreneurs and very small businesses wanting free accounting and invoicing software