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Professional Services · head to head

Bonsai vs Wave

Bonsai logo

Bonsai

Professional Services

All-in-one business management for freelancers and agencies

From
Free
Rated
-
Full reviewWebsite
Wave logo

Wave

Professional Services

Financial software for small businesses

From
Free
Rated
-
Full reviewWebsite

The short version

  • Each has a real cost: Bonsai elite plan, the only tier with custom permissions, timesheet locking and Xero integration, requires a 3 user minimum at $49/user/month; Wave automatic bank transaction import and receipt scanning require the Pro plan at $19 a month
  • Prices and features above were last checked on 30 August 2026.

Where they differ

Only the attributes on which Bonsai and Wave actually diverge.

Attributes where Bonsai and Wave differ
AttributeBonsaiWave
Pricing modelsubscriptionfreemium
PlatformsWebWeb, Ios, Android
FoundedUnknown2010

Identical on both: starting price (Free), free tier (Yes), user rating (Not yet rated), category (Professional Services).

What each one covers

Drawn from each product's published feature list. An absence here means we hold no record of it - not that the product lacks it.

Only in Bonsai

Nothing recorded that Wave does not also cover.

Only in Wave

  • Double-entry accounting
  • Invoicing
  • Expense tracking
  • Financial reporting
  • Bank reconciliation
  • Receipt scanning
  • Multi-currency
  • Sales tax tracking

What people use each for

The jobs each tool is most often brought in to do.

Bonsai

  • Freelance project trackingnot Wave
  • Client invoicing and proposalsnot Wave
  • Team time and expense managementnot Wave

Wave

  • Invoicing and bookkeeping for very small businesses and freelancersnot Bonsai
  • Accepting card payments against issued invoicesnot Bonsai

Where each one falls short

Documented limitations, not opinions. Every one is a constraint you would hit in normal use.

Bonsai

  • Elite plan, the only tier with custom permissions, timesheet locking and Xero integration, requires a 3 user minimum at $49/user/month
  • Invoices, proposals, contracts and the client portal are withheld from the entry Basic plan and only unlocked on Essentials at $19/user/month
  • Monthly billing costs noticeably more than annual, for example $15/user/month versus $9/user/month annually on Basic
  • Free trial is limited to 7 days

Wave

  • Automatic bank transaction import and receipt scanning require the Pro plan at $19 a month
  • The free plan pays a $0.60 per transaction fee on card payments on top of 2.9%, which Pro waives only for the first 10 transactions a month
  • Beyond 10 transactions a month the Pro plan pays the same per transaction fee as the free one
  • Amex is charged at 3.4% rather than 2.9% on both plans

Pricing, plan by plan

Bonsai

Free
  • Basic$15/user/month
    • Time tracking, task management, unlimited projects
    • 10-100 GB storage
  • Essentials$25/user/month
    • Invoicing, proposals, contracts, client portal
    • 100 GB storage
  • Premium$39/user/month
    • Reporting, workload management, Gantt view
    • 500 GB storage
  • Elite$59/user/month
    • Custom permissions, timesheet locking, Xero integration
    • 500 GB storage

Wave

Free
  • AccountingFree
    • Unlimited invoicing
    • Expense tracking
    • Financial reports
  • Payments$undefined/transaction
    • 2.9% + $0.60 per transaction
    • Credit card processing
    • Bank payments (1%)
  • Payroll$35/month
    • $35/month base + $6/employee
    • Tax calculations
    • Direct deposit

Which should you pick?

Choose Bonsai if

  • You want to start without paying.
Bonsai review

Choose Wave if

  • You need double-entry accounting.
  • You want to start without paying.
  • You work on Web, Ios, Android.
  • You also want invoicing.
Wave review

Questions people ask

Is Bonsai or Wave better?
Neither clearly leads. Bonsai starts at Free and Wave at Free, and user ratings are close enough to be indistinguishable. Choose on capability and platform support.
Which is cheaper, Bonsai or Wave?
Bonsai starts at Free and Wave at Free.
Does Bonsai or Wave run on more platforms?
Bonsai runs on Web. Wave runs on Web, Ios, Android.
Can I use Bonsai for free?
Both have a free tier, so you can try either at no cost before committing.
What is Bonsai best used for?
Bonsai is most often used for freelance project tracking, client invoicing and proposals, team time and expense management. Of those, freelance project tracking and client invoicing and proposals are not what Wave is typically brought in for.
What can Bonsai do that Wave cannot?
Wave covers Double-entry accounting, Invoicing, Expense tracking, Financial reporting.

Answered from the vendors’ own pages

Bonsai: What is Bonsai's starting price per user?

Bonsai's Basic plan starts at $15 per user per month (or $9 per user per month when billed annually), including time tracking and task management.

Source
Wave: Can I try Wave before committing to a paid plan?

Sign up for the Starter Plan to take the bookkeeping and invoicing basics for a spin. Then, whenever you're ready, upgrade to the Pro Plan to unlock even more money management features.

Source
Bonsai: Does Bonsai offer a free trial?

Yes, Bonsai offers a 7-day free trial with full, unlimited access to the platform before requiring a paid subscription.

Source
Wave: What happens if I want to cancel my subscription?

Yes, you can unsubscribe at any time. The cancellation of your subscription will take effect at the end of the billing period in which you cancel.

Source
Bonsai: What is the minimum number of users for Bonsai's Elite plan?

Bonsai's Elite plan requires a minimum of 3 users at $59 per user per month (or $49 annually).

Source
Wave: Can I upgrade or downgrade my plan easily?

To upgrade to the Pro Plan, sign into Wave. Visit your dashboard or use your invoicing or accounting features, and click the 'Upgrade now' button.

Source
Bonsai: How much storage does each Bonsai plan include?

Basic and Essentials plans include 10-100 GB storage; Premium and Elite plans include 500 GB storage per user.

Source
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