Softwr

Professional Services · head to head

Teamwork vs Wave

Teamwork logo

Teamwork

Professional Services

Project management software that lets you work your way

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: Teamwork the free plan allows 5 users, 5 projects and 100 MB of file storage; Wave automatic bank transaction import and receipt scanning require the Pro plan at $19 a month
  • They diverge on capability: Teamwork covers Task management, Wave covers Double-entry accounting.
  • Prices and features above were last checked on 30 August 2026.

Where they differ

Only the attributes on which Teamwork and Wave actually diverge.

Attributes where Teamwork and Wave differ
AttributeTeamworkWave
Pricing modelsubscriptionfreemium
PlatformsWeb, Ios, Android, Desktop, ApiWeb, Ios, Android
Founded20072010

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 Teamwork

  • Task management
  • Gantt charts
  • Board view
  • Time tracking
  • Project templates
  • Client management
  • Resource scheduling
  • Slack

Only in Wave

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

Both cover

  • Invoicing
  • 2FA

What people use each for

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

Teamwork

  • Project and task management for client services teamsnot Wave
  • Tracking billable time, budgets and profitability against projectsnot Wave

Wave

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

Where each one falls short

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

Teamwork

  • The free plan allows 5 users, 5 projects and 100 MB of file storage
  • Projects are capped even on paid plans, at 300 on Basics and 600 on Accelerate
  • Automations are rationed by tier, at 100 on free, 20,000 on Accelerate and 100,000 on Optimize
  • Single sign on is Enterprise only
  • The two highest tiers publish no price at all

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

Teamwork

Free
  • FreeFree
    • Up to 5 projects
    • Max 5 users
    • Task/list/board/Gantt views
  • Basics$9.99/month
    • Unlimited projects
    • Unlimited users
    • Unlimited templates
  • Accelerate$24.99/month
    • All Basics features
    • Smart forms
    • 20,000 automations
  • Optimize$null/month
    • Custom pricing
    • Quoting
    • 100,000 automations

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 Teamwork if

  • You need task management.
  • You want to start without paying.
  • You work on Web, Ios, Android, Desktop, Api.
  • You also want gantt charts.
Teamwork review

Choose Wave if

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

Questions people ask

Is Teamwork or Wave better?
Neither clearly leads. Teamwork 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, Teamwork or Wave?
Teamwork starts at Free and Wave at Free.
Does Teamwork or Wave run on more platforms?
Teamwork runs on Web, Ios, Android, Desktop, Api. Wave runs on Web, Ios, Android.
Can I use Teamwork for free?
Both have a free tier, so you can try either at no cost before committing.
What is Teamwork best used for?
Teamwork is most often used for project and task management for client services teams, tracking billable time, budgets and profitability against projects. Of those, project and task management for client services teams and tracking billable time, budgets and profitability against projects are not what Wave is typically brought in for.
What can Teamwork do that Wave cannot?
Teamwork covers Task management, Gantt charts, Board view, Time tracking. Wave covers Double-entry accounting, Expense tracking, Financial reporting, Bank reconciliation. Both handle Invoicing, 2FA.

Answered from the vendors’ own pages

Teamwork: What is the difference between Basics and Accelerate plans?

Basics ($9.99/user/month) includes time tracking and basic automations (100 limit). Accelerate ($24.99/user/month) adds smart forms, capacity planning, 20,000 automations, client invoicing, and integrations with HubSpot and QuickBooks.

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
Teamwork: How much do I save with annual billing?

Annual subscriptions save 29% compared to monthly billing on paid plans. The Free plan is not affected.

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
Teamwork: Is there a free trial available?

Yes, 14-day free trials are available for Basics and Accelerate plans. No credit card is required.

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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