Softwr

Professional Services · head to head

FreshBooks vs Wave

FreshBooks logo

FreshBooks

Professional Services

Accounting software that makes you look good

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: FreshBooks lite tier limited to 5 clients maximum; Wave automatic bank transaction import and receipt scanning require the Pro plan at $19 a month
  • They diverge on capability: FreshBooks covers Time tracking, Wave covers Double-entry accounting.
  • Prices and features above were last checked on 30 August 2026.

Where they differ

Only the attributes on which FreshBooks and Wave actually diverge.

Attributes where FreshBooks and Wave differ
AttributeFreshBooksWave
Pricing modelsubscriptionfreemium
Founded20032010

Identical on both: starting price (Free), free tier (Yes), platforms (Web, iOS, Android), 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 FreshBooks

  • Time tracking
  • Project management
  • Payments
  • Proposals
  • Mileage tracking
  • G Suite
  • Mailchimp
  • Slack

Only in Wave

  • Double-entry accounting
  • Bank reconciliation
  • Receipt scanning
  • Multi-currency
  • Sales tax tracking
  • Etsy
  • Shoeboxed
  • PCI compliant

Both cover

  • Invoicing
  • Expense tracking
  • Financial reporting
  • Stripe
  • PayPal
  • 2FA

What people use each for

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

FreshBooks

  • Invoicing and payment processingnot Wave
  • Time tracking and expense managementnot Wave
  • Multi-client project accountingnot Wave

Wave

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

Where each one falls short

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

FreshBooks

  • Lite tier limited to 5 clients maximum
  • E-signatures, proposals, and client retainers unavailable on Lite and Plus tiers
  • Advanced payment processing fee of £20/month on Plus tier (extra cost)
  • Email customization and project profitability tracking restricted to Premium tier and above
  • Offline mode not available; web-based only

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

FreshBooks

Free
  • Lite$23/month
    • Up to 5 clients
    • Core invoicing and expense tracking
  • Plus$43/month
    • Up to 50 clients
    • Client portal and estimates
  • Premium$70/month
    • Unlimited clients
    • Advanced features
  • Select$null/mo
    • Custom pricing
    • Unlimited clients
    • Dedicated support

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 FreshBooks if

  • You need time tracking.
  • You want to start without paying.
  • You work on Web, iOS, Android.
  • You also want project management.
FreshBooks review

Choose Wave if

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

Questions people ask

Is FreshBooks or Wave better?
Neither clearly leads. FreshBooks 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, FreshBooks or Wave?
FreshBooks starts at Free and Wave at Free.
Does FreshBooks or Wave run on more platforms?
FreshBooks runs on Web, iOS, Android. Wave runs on Web, Ios, Android.
Can I use FreshBooks for free?
Both have a free tier, so you can try either at no cost before committing.
What is FreshBooks best used for?
FreshBooks is most often used for invoicing and payment processing, time tracking and expense management, multi-client project accounting. Of those, invoicing and payment processing and time tracking and expense management are not what Wave is typically brought in for.
What can FreshBooks do that Wave cannot?
FreshBooks covers Time tracking, Project management, Payments, Proposals. Wave covers Double-entry accounting, Bank reconciliation, Receipt scanning, Multi-currency. Both handle Invoicing, Expense tracking, Financial reporting, Stripe.

Answered from the vendors’ own pages

FreshBooks: How much does FreshBooks cost?

FreshBooks offers plans starting at $23 per month for Lite (up to 5 clients), $43 for Plus (up to 50 clients), $70 for Premium (unlimited clients), and custom pricing for the Select plan. Currently offering 90% off for 3 months on all plans.

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
FreshBooks: Does FreshBooks offer a free trial?

Yes, FreshBooks offers a free 30-day trial and a 30-day money-back guarantee on all plans.

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
FreshBooks: What are the add-on costs for FreshBooks?

Team members cost $11 per month per user, Advanced Payments add-on costs $20 per month, and FreshBooks Payroll costs $40 per month base plus $6 per month per user.

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
Share

Related pages

More on FreshBooks

More on Wave

Keep looking

Other head to heads