Microsoft Project vs Wave
A head-to-head comparison to help you pick the right tool
Last updated: April 30, 2026
Microsoft Project
Microsoft Project is the long-standing enterprise project management standard offering advanced scheduling, resource management, and portfolio tracking. Deep integration with the Microsoft 365 ecosystem.
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
- ✓Industry standard for complex project scheduling
- ✓Powerful Gantt and resource management
- ✓Deep Microsoft 365 integration
- ✓Strong portfolio management
- ✓Trusted by enterprises globally
Cons
- ✗Steep learning curve
- ✗Expensive licensing
- ✗Feels dated compared to modern tools
- ✗Overkill for simple projects
- ✗Limited real-time collaboration
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
Microsoft Project vs Wave: Side by Side
| Factor | Microsoft Project | Wave |
|---|---|---|
| User Rating | N/A | N/A |
| Category | Project Management | Accounting Software |
| Pricing Model | Paid | Freemium |
| Starting Price | Contact for pricing | Free |
| Best For | Enterprise project managers needing advanced scheduling, resource management, and Microsoft 365 integration | Solopreneurs and very small businesses wanting free accounting and invoicing software |
| Our Pick | — | — |
Microsoft Project Features
- ✓Project scheduling
- ✓Gantt charts
- ✓resource management
- ✓task tracking
- ✓portfolio management
- ✓reporting
Wave Features
- ✓Free accounting
- ✓invoicing
- ✓receipt scanning
- ✓bank connections
- ✓financial reporting
- ✓payments processing
- ✓payroll add-on
- ✓mobile app
Pricing Comparison
Our Take
Choose Microsoft Project if enterprise project managers needing advanced scheduling, resource management, and microsoft 365 integration. Choose Wave if solopreneurs and very small businesses wanting free accounting and invoicing software.
Best For
Enterprise project managers needing advanced scheduling, resource management, and Microsoft 365 integration
Best For
Solopreneurs and very small businesses wanting free accounting and invoicing software
Also Consider
If neither Microsoft Project nor Wave is the right fit, Wrike is worth evaluating.
Wrike
Marketing and creative teams needing enterprise project management with approvals and proofing
From Free
Frequently Asked Questions
What is the difference between Microsoft Project and Wave?
Microsoft Project is best for enterprise project managers needing advanced scheduling, resource management, and microsoft 365 integration. Wave is best for solopreneurs and very small businesses wanting free accounting and invoicing software.
Which is better, Microsoft Project or Wave?
Choose Microsoft Project if enterprise project managers needing advanced scheduling, resource management, and microsoft 365 integration. Choose Wave if solopreneurs and very small businesses wanting free accounting and invoicing software.
How much does Microsoft Project cost?
Visit Microsoft Project website for current pricing.
How much does Wave cost?
Wave starts at Free. Pricing model: Freemium.
Who should use Microsoft Project?
Enterprise project managers needing advanced scheduling, resource management, and Microsoft 365 integration
Who should use Wave?
Solopreneurs and very small businesses wanting free accounting and invoicing software