Wave
Wave is a free-forever invoicing and light-accounting platform for US/Canada freelancers — unlimited invoices, estimates and bookkeeping records on the $0 plan, with automation pushed to the paid Pro tier.
Verified against: waveapps.comwaveapps.com as of 2026-09-20
Quick verdict: Wave earns 4.2/5 in our research-based assessment — the value floor of the cluster. The $0 Starter plan covers unlimited invoices and basic bookkeeping for a freelancer or very small service business, and Pro at $19/mo ($190/yr) adds the automation you reach for once you reconcile banks weekly. It is deliberately light: no inventory, no time tracking, and US/Canada only. Pick Wave to pay nothing and still send professional invoices; pick Zoho Invoice for the free client portal and multi-currency, or FreshBooks/QuickBooks when you outgrow the free tier and need real accounting. (Research sweep, no paid workspace tested.)
- Our rating: 4.2/5
- Strongest dimension: Usability (5/5, research only)
- Weakest dimension: Functionality (3/5, research only)
- Pricing: Free plan · $19/mo (Pro)
- Verification: Research-only pass over official sources, last checked 2026-09-20. Sources: waveapps.com, waveapps.com
Wave pricing details
- Free plan available
- paid plans from $19/mo (Pro)
- starter $0 (free) · Pro $19/mo (monthly)
- pro $190/yr (billed annually, ~$15.83/mo effective)
The only standing free plan in the cluster: unlimited invoices, estimates, bills and basic bookkeeping at $0. Pro at $19/mo ($190/yr) adds auto bank imports, receipt capture and reminders. Online payments are a separate per-transaction cost (2.9% + $0.60 on the free plan); payroll is a paid US-only add-on. Service is limited to US/Canada.
In our index: Starter $0 (free, unlimited invoices). Pro $19/mo monthly ($190/yr, ~$15.83/mo). Online payments 2.9% + $0.60 per card transaction (free plan); Pro drops the per-transaction surcharge. Payroll is a separate US-only add-on.
How Wave scores across our 6 index dimensions
- Functionality: 3/5 (research only)
- Usability: 5/5 (research only)
- Stability: 4/5 (research only)
- Collaboration: 3/5 (research only)
- Localization: 3/5 (research only)
- Value: 5/5 (research only)
Score rationale: The value floor of the cluster — genuinely free unlimited invoicing for a solo operator, with Pro as the opt-in automation tier. No hands-on this round; figures from the official pricing page (Starter $0 / Pro $19 monthly, $190 annual).
What Wave does well
- Genuinely free: unlimited invoices, estimates and bookkeeping records on the $0 Starter plan
- Simple, fast to set up — the easiest invoice-first flow for a solo operator
- Online payments built in, with receipt scanning and expense tracking
- Pro adds auto bank imports, categorization and reminders without a per-invoice fee
Where Wave falls short
- US/Canada only — no international invoicing
- Automation (bank imports, receipt capture) is gated behind paid Pro
- No time tracking, inventory or multi-entity accounting
- Payment processing still carries per-transaction fees
How Wave compares to other Invoicing & AR tools
Our index tracks 5 Invoicing & AR tools. Wave sits at 4.2/5, with pro $190/yr (billed annually, ~$15.83/mo effective). Here are the 4 closest alternatives we hold pricing and scoring evidence for.
- QuickBooks — 4.4/5 · 30-day free trial · $38/mo (Simple Start)
QuickBooks Online is the default US small-business accounting platform, strongest on the accountant ecosystem and 750+ integrations; invoicing is one module in a broader bookkeeping suite rather than a standalone invoice tool. - FreshBooks — 4.1/5 · 30-day free trial · $23/mo (Lite)
FreshBooks is a freelancer-first invoicing and light accounting platform that bills by billable-client count, with a polished client-facing invoice, time tracking that auto-fills invoices, and built-in payment collection. - Zoho Invoice — 4.0/5 · Free plan · Free (no paid tiers)
Zoho Invoice is a permanently free invoicing tool with a client portal, multi-currency and time tracking; it is the freemium entry of the Zoho ecosystem and the funnel into the paid Zoho Books accounting suite. - BILL — 3.8/5 · Free plan · $49/user/mo (Essentials)
BILL is an AP + AR automation platform for teams that pay many vendors and collect on many invoices — approval workflows, 4M+ vendor network and two-way QuickBooks/Xero sync — priced per user with transaction fees on top.
Frequently asked questions about Wave
How much does Wave cost?
Free plan available; paid plans from $19/mo (Pro); starter $0 (free) · Pro $19/mo (monthly); pro $190/yr (billed annually, ~$15.83/mo effective). Billing detail: The only standing free plan in the cluster: unlimited invoices, estimates, bills and basic bookkeeping at $0. Pro at $19/mo ($190/yr) adds auto bank imports, receipt capture and reminders. Online payments are a separate per-transaction cost (2.9% + $0.60 on the free plan); payroll is a paid US-only add-on. Service is limited to US/Canada. Figures verified 2026-09-20.
Does Wave have a free plan?
Yes. Wave has a free tier; paid plans start at $19/mo (Pro).
What is Wave rated in our index?
Wave sits at 4.2/5 in our index, strongest on usability (5/5, research only) and weakest on functionality (3/5, research only). Wave earns 4.2/5 in our research-based assessment — the value floor of the cluster. The $0 Starter plan covers unlimited invoices and basic bookkeeping for a freelancer or very small service business, and Pro at $19/mo ($190/yr) adds the automation you reach for once you reconcile banks weekly. It is deliberately light: no inventory, no time tracking, and US/Canada only. Pick Wave to pay nothing and still send professional invoices; pick Zoho Invoice for the free client portal and multi-currency, or FreshBooks/QuickBooks when you outgrow the free tier and need real accounting. (Research sweep, no paid workspace tested.)
What are the drawbacks of Wave?
US/Canada only — no international invoicing Automation (bank imports, receipt capture) is gated behind paid Pro No time tracking, inventory or multi-entity accounting Payment processing still carries per-transaction fees.
What does Wave do well?
Genuinely free: unlimited invoices, estimates and bookkeeping records on the $0 Starter plan Simple, fast to set up — the easiest invoice-first flow for a solo operator Online payments built in, with receipt scanning and expense tracking Pro adds auto bank imports, categorization and reminders without a per-invoice fee.
How was Wave verified?
Research-only pass over official sources, last checked 2026-09-20. Sources: waveapps.com, waveapps.com.
What are the alternatives to Wave?
We track Zoho Invoice, FreshBooks, QuickBooks, BILL, Wave as the closest alternatives in our Invoicing & AR index, and 4 head-to-head comparisons against Wave are available.