Wave vs QuickBooks
Last updated: 2026-08-18
Free accounting vs paid accounting — is Wave enough for your business? — pricing, features, and our verdict.
Feature Comparison
| Feature | popular Wave | best QuickBooks |
|---|---|---|
| Price from | $0 (Free) | $38/mo |
| Free trial | Free accounting software (no trial — permanently free) | 30-day free trial |
| Best for | Freelancers and micro businesses needing free accounting | Small business accounting (US-focused) |
| Free plan | Yes — accounting, invoicing, receipts | ✗ |
| Starting paid price | Payroll from $40/mo, Payments from 2.9% + 30¢ | — |
| Invoicing | Unlimited (free) | ✓ |
| Expense tracking | ✓ | ✓ |
| Receipt scanning | ✓ | — |
| Bank sync | ✓ | Major US banks |
| Double-entry accounting | ✗ | — |
| Payroll | Add-on ($40/mo+) | Add-on ($45/mo + $5/employee) |
| Integrations | Limited (PayPal, Stripe, Etsy) | — |
| Support | Email + chat (no phone) | Chat + phone |
| Starting price | — | $38/mo (Simple Start), $75/mo (Essentials), $115/mo (Plus) |
| Tax prep | — | ✓ |
| Receipt capture | — | ✓ |
| API access | — | ✓ |
Wave Pros & Cons
Pros
- Genuinely free — invoicing, expenses, reports, no monthly fee
- Unlimited invoices and estimates
- Receipt scanning with mobile app
- Bank account and credit card connections for automatic imports
- Good for freelancers just starting out
Cons
- No inventory management
- No double-entry accounting (single-entry only)
- Limited reporting compared to QuickBooks/Xero
- Payroll and payment processing cost extra
- Customer support is limited (no phone support)
QuickBooks Pros & Cons
Pros
- Industry standard for US small business accounting
- Comprehensive feature set — invoicing, expenses, payroll, taxes
- Excellent receipt capture (mobile app)
- Integrates with major US banks and payment processors
- Tax-ready reports — easy for accountants to use
- Payroll add-on handles all tax calculations and filings
Cons
- US-focused — limited support for international accounting standards
- Pricing tiers gated — Simple Start $30, Essentials $55, Plus $83
- Payroll is an expensive add-on ($45/mo + $5/employee)
- Customer support quality has declined in recent years
- Frequent upsell prompts within the dashboard
Final Verdict
Both Wave and QuickBooks are solid choices in the Accounting space. The right pick depends on your budget, team size, and specific feature needs. We recommend trying both via their free plans or trials before committing.
Our pick: QuickBooks
Frequently Asked Questions
Which is better for small businesses: Wave or QuickBooks?
For small businesses, the better choice depends on your budget and specific needs. QuickBooks generally offers better value for money, while Wave has more advanced features for growing teams.
Do Wave and QuickBooks offer free trials?
Yes, both platforms offer ways to try before buying. Free accounting software (no trial — permanently free) offers a trial, and 30-day free trial also offers a trial. We recommend trying both before committing.
Can I switch from Wave to QuickBooks (or vice versa)?
Yes, most platforms offer data export tools. Contact lists, settings, and historical data can usually be migrated, though some manual setup will be required. Check each platform's migration documentation before switching.