FreshBooks vs. Wave Accounting Comparison
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FreshBooks vs. Wave at a glance
| FreshBooks | Wave | |
|---|---|---|
| Key features | Has a strong invoicing feature; app lets users send invoices on the go, scan receipts and track mileage; basic inventory tracking for billable items; least expensive plan lacks double-entry accounting reports. | Has a strong invoicing feature; app lets users send invoices on the go; offers significantly fewer reports than competitors; no inventory tracking. |
| Ease of use | Auto-categorizes transactions for you, but you can’t set up your own bank rules; no global search function; least expensive plan lacks bank reconciliation tools. | Includes tools that help automate the reconciliation process; auto-categorizes transactions for you, but you can’t set up your own bank rules; no global search function. |
| Scalability | Can support freelancers, contractors and small businesses with a handful of employees; highest-tier plan includes two users (additional users can be added for a fee). | Only ideal for very small service-based businesses, freelancers or contractors; allows an unlimited number of users. |
| Ease of sharing with accountants | Easy accountant access in Plus plan and up; lacks complete audit trail. | Easy accountant access, but lacks audit trail. |
| Integrations | Integrates with more than 100 third-party apps; limited choices for direct payroll and point-of-sale integrations. | Only integrates with in-house apps, like Wave Payments and Wave Payroll; does not integrate with card readers for in-person payments. |
| Customer support | Includes phone support in all plans 8 a.m. to 7 p.m. ET from Monday to Friday, and offers email support and live chat. | Support for non-paying users is limited to the chatbot and self-service Help Center. |
| Cost |
|
|
| Advanced features | Project tracking tools in higher-tier plans; lacks industry-specific reports and transaction tracking tags; users with multiple businesses must pay for separate subscriptions. | Can manage multiple businesses for free under one account; lacks project tracking tools, industry-specific reports and transaction tracking tags. |
When to choose FreshBooks
Extra features
Customer support
Integrations
When to choose Wave
Cost
You only need the basics
FreshBooks and Wave alternatives
$38 per month for the Simple Start plan.
$75 per month for the Essentials plan.
$115 per month for the Plus plan.
$275 per month for the Advanced plan.
Quickbooks Online |
- $20 per month for the Early plan.
- $47 per month for the Growing plan.
- $80 per month for the Established plan.
Xero AccountingTry Xero with 75% off Business Edition plans for 6 months |
- $0 per month for the Free plan.
- $20 per month for the Standard plan.
- $50 per month for the Professional plan.
- $70 per month for the Premium plan.
- $150 per month for the Elite plan.
- $275 per month for the Ultimate plan.
Zoho Books |
Article sources
Methodology
NerdWallet independently reviews accounting software products before determining our top picks. We collect the data for our software ratings from products’ public-facing websites and from company representatives. Information is gathered on a regular basis and reviewed by our editorial team for consistency and accuracy.
NerdWallet’s accounting software ratings favor products that are easy to use, reasonably priced, have a robust feature set and can grow with your business. The best accounting software received top marks when evaluated across 10 categories and more than 30 subcategories. Learn more about how we rate small-business accounting software.
These ratings are meant to provide clarity in the decision-making process, but what’s best for your business will depend on its size, growth trajectory and which features you need most. We encourage you to research and compare multiple accounting software products before choosing one.
NerdWallet does not receive compensation for any reviews. Read our editorial guidelines.
Best Accounting Software for Small Businesses
| Product | Starting at | Promotion | |
|---|---|---|---|
 Xero Nerdwallet Rating on Xero's website | $20/month Additional pricing tiers (per month): $47, $80. | 50% off for 3 months. | on Xero's website |
 QuickBooks Online Nerdwallet Rating on QuickBooks' website | $38/month Additional pricing tiers (per month): $75, $115, $275. | 50% for first three months or free 30-day trial. | on QuickBooks' website |
 FreshBooks Nerdwallet Rating on FreshBooks' website | $21/month Additional pricing tiers (per month): $38, $65, custom. | 90% off for 3 months. 30-Day Money Back Guarantee. | on FreshBooks' website |
 Zoho Books Nerdwallet Rating on Zoho Books' website | $0 Additional pricing tiers (per month): $20, $50, $70, $150, $275. | 14-day free trial of the Premium plan. | on Zoho Books' website |
