Software · head to head
Wave vs Bonsai
Bonsai
Software
All-in-one business management for freelancers and agencies
- From
- On request
- Rated
- -
The short version
- Only Wave has a free tier, so it costs nothing to try first.
- Each has a real cost: Wave automatic bank transaction import and receipt scanning require the Pro plan at $19 a month; Bonsai elite plan, the only tier with custom permissions, timesheet locking and Xero integration, requires a 3 user minimum at $49/user/month
Where they differ
Only the attributes on which Wave and Bonsai actually diverge.
Identical on both: user rating (Not yet rated), category (Unknown).
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 Wave
- Double-entry accounting
- Invoicing
- Expense tracking
- Financial reporting
- Bank reconciliation
- Receipt scanning
- Multi-currency
- Sales tax tracking
Only in Bonsai
Nothing recorded that Wave does not also cover.
What people use each for
The jobs each tool is most often brought in to do.
Wave
- Invoicing and bookkeeping for very small businesses and freelancersnot Bonsai
- Accepting card payments against issued invoicesnot Bonsai
Bonsai
No use cases recorded yet. See the Bonsai review.
Where each one falls short
Documented limitations, not opinions. Every one is a constraint you would hit in normal use.
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
Bonsai
- Elite plan, the only tier with custom permissions, timesheet locking and Xero integration, requires a 3 user minimum at $49/user/month
- Invoices, proposals, contracts and the client portal are withheld from the entry Basic plan and only unlocked on Essentials at $19/user/month
- Monthly billing costs noticeably more than annual, for example $15/user/month versus $9/user/month annually on Basic
- Free trial is limited to 7 days
Pricing, plan by plan
Wave
Free- AccountingFree
- Unlimited invoicing
- Expense tracking
- Financial reports
- Payments$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
Bonsai
On requestNo published plan breakdown. See the Bonsai review.
Which should you pick?
Choose Wave if
- You need double-entry accounting.
- You want to start without paying.
- You work on Web, Ios, Android.
- You also want invoicing.
Choose Bonsai if
Nothing in the data separates Bonsai from Wave on the points above - pick on price and on how each one feels to use.
Questions people ask
- Is Wave or Bonsai better?
- Neither clearly leads. Wave starts at Free and Bonsai at On request, and user ratings are close enough to be indistinguishable. Choose on capability and platform support.
- Which is cheaper, Wave or Bonsai?
- Wave has a free tier; the other does not. Paid plans start at Free for Wave and On request for Bonsai.
- Does Wave or Bonsai run on more platforms?
- Wave runs on Web, Ios, Android. Bonsai runs on Web.
- Can I use Wave for free?
- Yes. Wave has a free tier, so you can try it without paying. Bonsai starts at On request.
- What is Wave best used for?
- Wave is most often used for invoicing and bookkeeping for very small businesses and freelancers, accepting card payments against issued invoices. Of those, invoicing and bookkeeping for very small businesses and freelancers and accepting card payments against issued invoices are not what Bonsai is typically brought in for.
- What can Wave do that Bonsai cannot?
- Wave covers Double-entry accounting, Invoicing, Expense tracking, Financial reporting.