Wave vs Microsoft Project
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.
Microsoft Project
Microsoft Project is the long-standing enterprise project management standard offering advanced scheduling, resource management, and portfolio tracking. Deep integration with the Microsoft 365 ecosystem.
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
- ✓Industry standard for complex project scheduling
- ✓Powerful Gantt and resource management
- ✓Deep Microsoft 365 integration
- ✓Strong portfolio management
- ✓Trusted by enterprises globally
Cons
- ✗Steep learning curve
- ✗Expensive licensing
- ✗Feels dated compared to modern tools
- ✗Overkill for simple projects
- ✗Limited real-time collaboration
Wave vs Microsoft Project: Side by Side
| Factor | Wave | Microsoft Project |
|---|---|---|
| User Rating | N/A | N/A |
| Category | Accounting Software | Project Management |
| Pricing Model | Freemium | Paid |
| Starting Price | Free | Contact for pricing |
| Best For | Solopreneurs and very small businesses wanting free accounting and invoicing software | Enterprise project managers needing advanced scheduling, resource management, and Microsoft 365 integration |
| Our Pick | — | — |
Wave Features
- ✓Free accounting
- ✓invoicing
- ✓receipt scanning
- ✓bank connections
- ✓financial reporting
- ✓payments processing
- ✓payroll add-on
- ✓mobile app
Microsoft Project Features
- ✓Project scheduling
- ✓Gantt charts
- ✓resource management
- ✓task tracking
- ✓portfolio management
- ✓reporting
Pricing Comparison
Our Take
Choose Wave if solopreneurs and very small businesses wanting free accounting and invoicing software. Choose Microsoft Project if enterprise project managers needing advanced scheduling, resource management, and microsoft 365 integration.
Best For
Solopreneurs and very small businesses wanting free accounting and invoicing software
Best For
Enterprise project managers needing advanced scheduling, resource management, and Microsoft 365 integration
Also Consider
If neither Wave nor Microsoft Project 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 Microsoft Project?
Wave is best for solopreneurs and very small businesses wanting free accounting and invoicing software. Microsoft Project is best for enterprise project managers needing advanced scheduling, resource management, and microsoft 365 integration.
Which is better, Wave or Microsoft Project?
Choose Wave if solopreneurs and very small businesses wanting free accounting and invoicing software. Choose Microsoft Project if enterprise project managers needing advanced scheduling, resource management, and microsoft 365 integration.
How much does Wave cost?
Wave starts at Free. Pricing model: Freemium.
How much does Microsoft Project cost?
Visit Microsoft Project website for current pricing.
Who should use Wave?
Solopreneurs and very small businesses wanting free accounting and invoicing software
Who should use Microsoft Project?
Enterprise project managers needing advanced scheduling, resource management, and Microsoft 365 integration