Wave vs FreshBooks
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.
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.
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
- ✓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
Wave vs FreshBooks: Side by Side
| Factor | Wave | FreshBooks |
|---|---|---|
| User Rating | N/A | N/A |
| Category | Accounting Software | Accounting Software |
| Pricing Model | Freemium | Paid |
| Starting Price | Free | $19/mo |
| Best For | Solopreneurs and very small businesses wanting free accounting and invoicing software | Freelancers and small service businesses wanting simple, beautiful invoicing and accounting |
| Our Pick | — | — |
Wave Features
- ✓Free accounting
- ✓invoicing
- ✓receipt scanning
- ✓bank connections
- ✓financial reporting
- ✓payments processing
- ✓payroll add-on
- ✓mobile app
FreshBooks Features
- ✓Invoicing
- ✓expense tracking
- ✓time tracking
- ✓project management
- ✓payments
- ✓financial reporting
- ✓bank reconciliation
- ✓mobile app
- ✓client portal
Pricing Comparison
Our Take
Choose Wave if solopreneurs and very small businesses wanting free accounting and invoicing software. Choose FreshBooks if freelancers and small service businesses wanting simple, beautiful invoicing and accounting.
Best For
Solopreneurs and very small businesses wanting free accounting and invoicing software
Best For
Freelancers and small service businesses wanting simple, beautiful invoicing and accounting
How Wave and FreshBooks 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 Wave nor FreshBooks 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 FreshBooks?
Wave is best for solopreneurs and very small businesses wanting free accounting and invoicing software. FreshBooks is best for freelancers and small service businesses wanting simple, beautiful invoicing and accounting.
Which is better, Wave or FreshBooks?
Choose Wave if solopreneurs and very small businesses wanting free accounting and invoicing software. Choose FreshBooks if freelancers and small service businesses wanting simple, beautiful invoicing and accounting.
How much does Wave cost?
Wave starts at Free. Pricing model: Freemium.
How much does FreshBooks cost?
FreshBooks starts at $19/mo. Pricing model: Paid.
Who should use Wave?
Solopreneurs and very small businesses wanting free accounting and invoicing software
Who should use FreshBooks?
Freelancers and small service businesses wanting simple, beautiful invoicing and accounting