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Accounting & Finance · head to head

Fyle vs Wave

Fyle logo

Fyle

Accounting & Finance

Real-time expense management that works with your cards

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: Fyle billed per active user, defined as anyone who creates an expense or has a connected card with transactions in the month, so headcount does not predict the bill; Wave automatic bank transaction import and receipt scanning require the Pro plan at $19 a month
  • They diverge on capability: Fyle covers Real-time card tracking, Wave covers Double-entry accounting.

Where they differ

Only the attributes on which Fyle and Wave actually diverge.

Attributes where Fyle and Wave differ
AttributeFyleWave
Starting price$29/monthFree
Pricing modelsubscriptionfreemium
Free tierNoYes
CategoryAccounting & FinanceFreelancers
Founded20162010

Identical on both: 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 Fyle

  • Real-time card tracking
  • Automatic receipt matching
  • Expense policies
  • Approval workflows
  • Mileage tracking
  • QuickBooks
  • Xero
  • Sage Intacct

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.

Fyle

  • Expense reporting and corporate card reconciliationnot Wave
  • Enforcing spend policy and approvals before reimbursementnot Wave

Wave

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

Where each one falls short

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

Fyle

  • Billed per active user, defined as anyone who creates an expense or has a connected card with transactions in the month, so headcount does not predict the bill
  • The Growth plan carries a 5 user minimum and the Business plan a 10 user minimum, so the entry cost is set by the floor rather than the team
  • API access and the Sage Intacct and NetSuite integrations require a paid tier
  • ACH reimbursements and project expense tracking sit above the entry plan
  • Both published plans are billed annually
  • Enterprise pricing is custom and aimed at organisations with 250 or more employees

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

Fyle

$29/month
  • Standard$8/month
    • Real-time card feeds
    • Receipt matching
    • Basic approvals
  • Business$12/month
    • Advanced policies
    • Custom workflows
    • Analytics
  • Enterprise$undefined/month
    • Unlimited users
    • API access
    • Priority 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 Fyle if

  • You need real-time card tracking.
  • You work on Web, Ios, Android.
  • You also want automatic receipt matching.
Fyle 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 Fyle or Wave better?
Neither clearly leads. Fyle 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, Fyle or Wave?
Wave has a free tier; the other does not. Paid plans start at $29/month for Fyle and Free for Wave.
Does Fyle 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. Fyle starts at $29/month.
What is Fyle best used for?
Fyle is most often used for expense reporting and corporate card reconciliation, enforcing spend policy and approvals before reimbursement. Of those, expense reporting and corporate card reconciliation and enforcing spend policy and approvals before reimbursement are not what Wave is typically brought in for.
What can Fyle do that Wave cannot?
Fyle covers Real-time card tracking, Automatic receipt matching, Expense policies, Approval workflows. Wave covers Double-entry accounting, Invoicing, Expense tracking, Financial reporting. Both handle Web support, Ios support, Android support.
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