Wave vs Employment Hero
A head-to-head comparison to help you pick the right tool
Last updated: April 30, 2026
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.
Employment Hero
Employment Hero is an all-in-one HR, payroll, and benefits platform with a strong presence in Australia and New Zealand. It offers a free HR plan alongside paid payroll and benefits modules, making it accessible for businesses at any stage. Employment Hero also operates a job marketplace called Swag for employees.
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
Pros
- ✓Free HR plan available with core employee management features
- ✓Strong compliance tools for Australian and NZ employment law
- ✓All-in-one platform covering HR, payroll, and benefits
- ✓Employee benefits marketplace with discounts and perks
Cons
- ✗Payroll module costs extra and is best suited for AU/NZ companies
- ✗Limited support and compliance coverage outside Australia and New Zealand
- ✗Some users report the platform can feel complex to navigate
Wave vs Employment Hero: Side by Side
| Factor | Wave | Employment Hero |
|---|---|---|
| User Rating | N/A | N/A |
| Category | Accounting Software | HR Software |
| Pricing Model | Freemium | Freemium |
| Starting Price | Free | Free |
| Best For | Solopreneurs and very small businesses wanting free accounting and invoicing software | Australian and NZ businesses needing full HR suite |
| Our Pick | — | — |
Wave Features
- ✓Free accounting
- ✓invoicing
- ✓receipt scanning
- ✓bank connections
- ✓financial reporting
- ✓payments processing
- ✓payroll add-on
- ✓mobile app
Employment Hero Features
- ✓HR management
- ✓payroll
- ✓benefits
- ✓recruitment
- ✓learning
- ✓employee engagement
Pricing Comparison
Our Take
Choose Wave if solopreneurs and very small businesses wanting free accounting and invoicing software. Choose Employment Hero if australian and nz businesses needing full hr suite.
Best For
Solopreneurs and very small businesses wanting free accounting and invoicing software
Best For
Australian and NZ businesses needing full HR suite
Also Consider
If neither Wave nor Employment Hero 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 Wave and Employment Hero?
Wave is best for solopreneurs and very small businesses wanting free accounting and invoicing software. Employment Hero is best for australian and nz businesses needing full hr suite.
Which is better, Wave or Employment Hero?
Choose Wave if solopreneurs and very small businesses wanting free accounting and invoicing software. Choose Employment Hero if australian and nz businesses needing full hr suite.
How much does Wave cost?
Wave starts at Free. Pricing model: Freemium.
How much does Employment Hero cost?
Employment Hero starts at Free. Pricing model: Freemium.
Who should use Wave?
Solopreneurs and very small businesses wanting free accounting and invoicing software
Who should use Employment Hero?
Australian and NZ businesses needing full HR suite