Softwr

Accounting & Finance · head to head

Brex vs Wave

Brex logo

Brex

Accounting & Finance

The financial stack for growing businesses

From
$29/month
Rated
-
Full reviewWebsite
Wave logo

Wave

Freelancers

Financial software for small businesses

From
Free
Rated
-
Full reviewWebsite

The short version

  • Only Wave has a free tier, so it costs nothing to try first.
  • Each has a real cost: Brex the free Essentials tier is limited to two legal entities; Wave automatic bank transaction import and receipt scanning require the Pro plan at $19 a month
  • They diverge on capability: Brex covers Corporate cards, Wave covers Double-entry accounting.

Where they differ

Only the attributes on which Brex and Wave actually diverge.

Attributes where Brex and Wave differ
AttributeBrexWave
Starting price$29/monthFree
Free tierNoYes
CategoryAccounting & FinanceFreelancers
Founded20172010

Identical on both: pricing model (freemium), platforms (Web, Ios, Android), user rating (Not yet rated).

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 Brex

  • Corporate cards
  • Business accounts
  • Expense management
  • Bill pay
  • Travel
  • QuickBooks
  • NetSuite
  • Xero

Only in Wave

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

Both cover

  • Web support
  • Ios support
  • Android support

What people use each for

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

Brex

  • Corporate cards with spend controls for startupsnot Wave
  • Expense management and reimbursementsnot Wave
  • Travel booking inside the spend platformnot Wave
  • Bill pay and accounting system syncnot Wave
  • Multi-entity spend management on the paid tiersnot Wave

Wave

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

Where each one falls short

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

Brex

  • The free Essentials tier is limited to two legal entities
  • Premium is $12 per user per month, so cost scales with headcount using the card
  • Enterprise and Smart Card pricing is not published
  • Eligibility criteria are not stated anywhere on the pricing page, which matters for a product that extends credit

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

Brex

$29/month
  • EssentialsFree
    • Corporate cards
    • Expense management
    • Bill pay
  • Premium$12/month
    • Advanced controls
    • Custom approvals
    • Travel booking

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 Brex if

  • You need corporate cards.
  • You work on Web, Ios, Android.
  • You also want business accounts.
Brex 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 Brex or Wave better?
Neither clearly leads. Brex starts at $29/month and Wave at Free, and user ratings are close enough to be indistinguishable. Choose on capability and platform support.
Which is cheaper, Brex or Wave?
Wave has a free tier; the other does not. Paid plans start at $29/month for Brex and Free for Wave.
Does Brex or Wave run on more platforms?
Both run on Web, Ios, Android, so platform support will not decide this one for you.
Can I use Wave for free?
Yes. Wave has a free tier, so you can try it without paying. Brex starts at $29/month.
What is Brex best used for?
Brex is most often used for corporate cards with spend controls for startups, expense management and reimbursements, travel booking inside the spend platform, bill pay and accounting system sync. Of those, corporate cards with spend controls for startups and expense management and reimbursements are not what Wave is typically brought in for.
What can Brex do that Wave cannot?
Brex covers Corporate cards, Business accounts, Expense management, Bill pay. Wave covers Double-entry accounting, Invoicing, Expense tracking, Financial reporting. Both handle Web support, Ios support, Android support.
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