Teamwork vs Wave
A head-to-head comparison to help you pick the right tool
Last updated: April 30, 2026
Teamwork
Teamwork is a project management platform built specifically for client-facing teams and agencies. It includes built-in time tracking, invoicing, and client portals that make it ideal for professional services businesses managing multiple client projects simultaneously. Teamwork helps agencies deliver projects on time and on budget while keeping clients informed.
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
- ✓Built specifically for agencies and client-facing teams
- ✓Built-in time tracking and invoicing saves money on separate tools
- ✓Client portal keeps clients informed without giving full system access
- ✓Strong resource and budget management features
Cons
- ✗Less suitable for internal team project management
- ✗Interface feels less modern than competitors
- ✗Some key features only on higher paid tiers
- ✗Can be complex to set up for new users
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
Teamwork vs Wave: Side by Side
| Factor | Teamwork | Wave |
|---|---|---|
| User Rating | N/A | N/A |
| Category | Project Management | Accounting Software |
| Pricing Model | Freemium | Freemium |
| Starting Price | Free | Free |
| Best For | Agencies and professional services firms managing multiple client projects | Solopreneurs and very small businesses wanting free accounting and invoicing software |
| Our Pick | — | — |
Teamwork Features
- ✓Project management
- ✓time tracking
- ✓invoicing
- ✓client portals
- ✓resource management
- ✓milestones
- ✓Gantt charts
- ✓budgets
- ✓collaboration tools
Wave Features
- ✓Free accounting
- ✓invoicing
- ✓receipt scanning
- ✓bank connections
- ✓financial reporting
- ✓payments processing
- ✓payroll add-on
- ✓mobile app
Pricing Comparison
Our Take
Choose Teamwork if agencies and professional services firms managing multiple client projects. Choose Wave if solopreneurs and very small businesses wanting free accounting and invoicing software.
Best For
Agencies and professional services firms managing multiple client projects
Best For
Solopreneurs and very small businesses wanting free accounting and invoicing software
Also Consider
If neither Teamwork 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 Teamwork and Wave?
Teamwork is best for agencies and professional services firms managing multiple client projects. Wave is best for solopreneurs and very small businesses wanting free accounting and invoicing software.
Which is better, Teamwork or Wave?
Choose Teamwork if agencies and professional services firms managing multiple client projects. Choose Wave if solopreneurs and very small businesses wanting free accounting and invoicing software.
How much does Teamwork cost?
Teamwork starts at Free. Pricing model: Freemium.
How much does Wave cost?
Wave starts at Free. Pricing model: Freemium.
Who should use Teamwork?
Agencies and professional services firms managing multiple client projects
Who should use Wave?
Solopreneurs and very small businesses wanting free accounting and invoicing software