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Professional Services · head to head

Function Point vs Wave

Function Point logo

Function Point

Professional Services

Agency management software for operations, projects and finances

From
$53/month
Rated
-
Full reviewWebsite
Wave logo

Wave

Professional Services

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: Function Point annual billing saves over 11% compared to monthly; significant price premium for monthly payments; 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 Function Point and Wave actually diverge.

Attributes where Function Point and Wave differ
AttributeFunction PointWave
Starting price$53/monthFree
Pricing modelsubscriptionfreemium
Free tierNoYes
PlatformsWebWeb, Ios, Android
FoundedUnknown2010

Identical on both: 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 Function Point

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.

Function Point

  • Consolidating CRM, project management, time tracking, and accounting datanot Wave
  • Tracking actual project cost versus quoted price for agenciesnot Wave
  • Forecasting resource availability by role and staff capacitynot Wave
  • Generating batch invoices and profitability reports by client and projectnot Wave
  • Analyzing billable efficiency versus staff utilization ratesnot Wave

Wave

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

Where each one falls short

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

Function Point

  • Annual billing saves over 11% compared to monthly; significant price premium for monthly payments
  • Onboarding fee applies for new customers

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

Function Point

$53/month
  • Standardize$53/month
    • Annual billing ($53/user/month)
    • Monthly billing ($58/user/month)
    • Client management, project management
  • Optimize$62/month
    • Annual billing ($62/user/month)
    • Monthly billing ($68/user/month)
    • All Standardize features plus QuickBooks Online integration

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 Function Point if

Nothing in the data separates Function Point from Wave on the points above - pick on price and on how each one feels to use.

Function Point 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 Function Point or Wave better?
Neither clearly leads. Function Point starts at $53/month and Wave at Free, and user ratings are close enough to be indistinguishable. Choose on capability and platform support.
Which is cheaper, Function Point or Wave?
Wave has a free tier; the other does not. Paid plans start at $53/month for Function Point and Free for Wave.
Does Function Point or Wave run on more platforms?
Function Point runs on Web. Wave runs on Web, Ios, Android.
Can I use Wave for free?
Yes. Wave has a free tier, so you can try it without paying. Function Point starts at $53/month.
What is Function Point best used for?
Function Point is most often used for consolidating crm, project management, time tracking, and accounting data, tracking actual project cost versus quoted price for agencies, forecasting resource availability by role and staff capacity, generating batch invoices and profitability reports by client and project. Of those, consolidating crm, project management, time tracking, and accounting data and tracking actual project cost versus quoted price for agencies are not what Wave is typically brought in for.
What can Function Point do that Wave cannot?
Wave covers Double-entry accounting, Invoicing, Expense tracking, Financial reporting.

Answered from the vendors’ own pages

Function Point: What is Function Point's cheapest plan?

The Standardize plan starts at $53 per user per month with annual billing, or $58/user/month with monthly billing. Annual billing saves over 11% compared to monthly pricing.

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
Function Point: What does the Optimize plan add to Function Point?

The Optimize plan ($62-$68/user/month) adds QuickBooks Online integration and Business Intelligence capabilities including custom saved reports, data visualization, and report sharing. All Standardize features are included.

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
Function Point: Does Function Point offer discounts?

Non-profit organizations receive a $2 per seat discount. Larger teams (20+ members) qualify for additional discounts. Function Point also includes 1-on-1 custom implementation and a dedicated customer success manager.

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
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