Wave vs isolved
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.
isolved
isolved is an all-in-one HCM platform offering payroll, HR, benefits, and time tracking for small to mid-sized businesses. It is delivered through a network of local service partners providing personalized support.
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
- ✓Strong local service partner network
- ✓Good all-in-one HCM features
- ✓Solid compliance tools
- ✓Flexible configuration
- ✓Good for SMBs needing hands-on support
Cons
- ✗Interface feels dated
- ✗Quality can vary by service partner
- ✗Less self-serve than modern platforms
- ✗Reporting needs improvement
Wave vs isolved: Side by Side
| Factor | Wave | isolved |
|---|---|---|
| User Rating | N/A | N/A |
| Category | Accounting Software | Payroll Software |
| Pricing Model | Freemium | Paid |
| Starting Price | Free | Contact for pricing |
| Best For | Solopreneurs and very small businesses wanting free accounting and invoicing software | SMBs wanting full-service payroll and HR support through a local service partner network |
| Our Pick | — | — |
Wave Features
- ✓Free accounting
- ✓invoicing
- ✓receipt scanning
- ✓bank connections
- ✓financial reporting
- ✓payments processing
- ✓payroll add-on
- ✓mobile app
isolved Features
- ✓Payroll processing
- ✓HR management
- ✓benefits administration
- ✓time tracking
- ✓talent management
- ✓compliance
Pricing Comparison
Our Take
Choose Wave if solopreneurs and very small businesses wanting free accounting and invoicing software. Choose isolved if smbs wanting full-service payroll and hr support through a local service partner network.
Best For
Solopreneurs and very small businesses wanting free accounting and invoicing software
Best For
SMBs wanting full-service payroll and HR support through a local service partner network
Also Consider
If neither Wave nor isolved 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 isolved?
Wave is best for solopreneurs and very small businesses wanting free accounting and invoicing software. isolved is best for smbs wanting full-service payroll and hr support through a local service partner network.
Which is better, Wave or isolved?
Choose Wave if solopreneurs and very small businesses wanting free accounting and invoicing software. Choose isolved if smbs wanting full-service payroll and hr support through a local service partner network.
How much does Wave cost?
Wave starts at Free. Pricing model: Freemium.
How much does isolved cost?
Visit isolved website for current pricing.
Who should use Wave?
Solopreneurs and very small businesses wanting free accounting and invoicing software
Who should use isolved?
SMBs wanting full-service payroll and HR support through a local service partner network