Wave vs Lattice
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.
Lattice
Lattice is a people management platform that helps companies run performance reviews, set goals, and measure employee engagement. It combines performance management, OKRs, career development, and compensation tools in one platform. Lattice is widely used by tech companies that invest heavily in people development.
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
- ✓Best-in-class performance review and OKR tools
- ✓Strong engagement survey capabilities with actionable insights
- ✓Career development and growth tracking features
- ✓Good analytics for people managers and HR teams
Cons
- ✗No payroll or core HRIS functionality
- ✗Can be expensive when combining multiple modules
- ✗Some users find the platform complex to administer initially
Wave vs Lattice: Side by Side
| Factor | Wave | Lattice |
|---|---|---|
| User Rating | N/A | N/A |
| Category | Accounting Software | HR Software |
| Pricing Model | Freemium | Paid |
| Starting Price | Free | $11/person/mo |
| Best For | Solopreneurs and very small businesses wanting free accounting and invoicing software | Mid-size companies focused on performance management |
| Our Pick | — | — |
Wave Features
- ✓Free accounting
- ✓invoicing
- ✓receipt scanning
- ✓bank connections
- ✓financial reporting
- ✓payments processing
- ✓payroll add-on
- ✓mobile app
Lattice Features
- ✓Performance reviews
- ✓OKRs
- ✓employee engagement
- ✓career development
- ✓compensation
Pricing Comparison
Our Take
Choose Wave if solopreneurs and very small businesses wanting free accounting and invoicing software. Choose Lattice if mid-size companies focused on performance management.
Best For
Solopreneurs and very small businesses wanting free accounting and invoicing software
Best For
Mid-size companies focused on performance management
Also Consider
If neither Wave nor Lattice 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 Lattice?
Wave is best for solopreneurs and very small businesses wanting free accounting and invoicing software. Lattice is best for mid-size companies focused on performance management.
Which is better, Wave or Lattice?
Choose Wave if solopreneurs and very small businesses wanting free accounting and invoicing software. Choose Lattice if mid-size companies focused on performance management.
How much does Wave cost?
Wave starts at Free. Pricing model: Freemium.
How much does Lattice cost?
Lattice starts at $11/person/mo. Pricing model: Paid.
Who should use Wave?
Solopreneurs and very small businesses wanting free accounting and invoicing software
Who should use Lattice?
Mid-size companies focused on performance management