Wave vs 15Five
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.
15Five
15Five is a continuous performance management platform focused on weekly check-ins, OKRs, and employee engagement. It helps managers stay connected with their teams through structured feedback and recognition tools. 15Five is popular with remote and distributed teams that need async communication tools.
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
- ✓Simple and intuitive weekly check-in format that drives adoption
- ✓Strong OKR and goal-setting tools
- ✓Excellent manager training and coaching resources
- ✓Good engagement survey tools with benchmarking
Cons
- ✗Limited HR functionality beyond performance and engagement
- ✗No payroll or benefits administration
- ✗Reporting could be more advanced for data-driven HR teams
Wave vs 15Five: Side by Side
| Factor | Wave | 15Five |
|---|---|---|
| User Rating | N/A | N/A |
| Category | Accounting Software | HR Software |
| Pricing Model | Freemium | Paid |
| Starting Price | Free | $4/user/mo |
| Best For | Solopreneurs and very small businesses wanting free accounting and invoicing software | Companies focused on employee engagement and performance |
| Our Pick | — | — |
Wave Features
- ✓Free accounting
- ✓invoicing
- ✓receipt scanning
- ✓bank connections
- ✓financial reporting
- ✓payments processing
- ✓payroll add-on
- ✓mobile app
15Five Features
- ✓Weekly check-ins
- ✓OKRs
- ✓performance reviews
- ✓engagement surveys
- ✓manager training
Pricing Comparison
Our Take
Choose Wave if solopreneurs and very small businesses wanting free accounting and invoicing software. Choose 15Five if companies focused on employee engagement and performance.
Best For
Solopreneurs and very small businesses wanting free accounting and invoicing software
Best For
Companies focused on employee engagement and performance
Also Consider
If neither Wave nor 15Five 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 15Five?
Wave is best for solopreneurs and very small businesses wanting free accounting and invoicing software. 15Five is best for companies focused on employee engagement and performance.
Which is better, Wave or 15Five?
Choose Wave if solopreneurs and very small businesses wanting free accounting and invoicing software. Choose 15Five if companies focused on employee engagement and performance.
How much does Wave cost?
Wave starts at Free. Pricing model: Freemium.
How much does 15Five cost?
15Five starts at $4/user/mo. Pricing model: Paid.
Who should use Wave?
Solopreneurs and very small businesses wanting free accounting and invoicing software
Who should use 15Five?
Companies focused on employee engagement and performance