Wave vs FreshBooks: Accounting Software Compared (2026)
Wave and FreshBooks are two widely compared accounting platforms. Wave is accounting and invoicing software for freelancers and micro-businesses in the US and Canada, with a free Starter plan and a paid Pro plan. FreshBooks is accounting and invoicing software for freelancers and service businesses, sold in Lite, Plus, Premium and custom Select plans that differ by the number of billable clients.
- Verified 10 Nov 2026Sources are dated on this page
- 3 sourcesLinked, typed and dated
- No winner declaredFit depends on your criteria
- Not tested by Stack18Editorial summary of documented facts
Wave vs FreshBooks: the short answer
Wave is accounting and invoicing software for freelancers and micro-businesses in the US and Canada, with a free Starter plan and a paid Pro plan. FreshBooks is accounting and invoicing software for freelancers and service businesses, sold in Lite, Plus, Premium and custom Select plans that differ by the number of billable clients. Both are accounting platforms, but they differ in pricing model, target team size and focus.
On pricing, Wave is described as: free Starter plan, Pro subscription, and per-transaction payment and payroll fees; FreshBooks as: monthly or annual subscription by plan, limited by billable clients, with per-person fees for team members. Wave lists a free plan. FreshBooks does not document a permanent free plan. Wave is positioned for freelancers and micro-businesses that want free invoicing and books, and FreshBooks for freelancers and service businesses that bill clients by invoice.
Everything below is drawn from the two sourced profiles and the 3 dated sources listed at the end. Where a source does not document something it is marked Unknown, and third-party estimates are labelled. No winner is declared: the better fit depends on your size, budget and requirements.
Wave and FreshBooks at a glance.
One card per product, drawn from each full profile. Open a profile for features, pricing plans, limits and sources.
Wave
Wave Financial · Accounting Software
Wave is accounting and invoicing software for freelancers and micro-businesses in the US and Canada, with a free Starter plan and a paid Pro plan.
- Pricing
- Free Starter plan; Pro reported at $19 per month or $190 a year.
- Best for
- Freelancers and micro-businesses that want free invoicing and books
FreshBooks
FreshBooks · Accounting Software
FreshBooks is accounting and invoicing software for freelancers and service businesses, sold in Lite, Plus, Premium and custom Select plans that differ by the number of billable clients.
- Pricing
- No free plan; Lite reported at $23 per month (5 billable clients).
- Best for
- Freelancers and service businesses that bill clients by invoice
Wave vs FreshBooks: feature-by-feature comparison.
Every row is drawn from the sources listed below. Rows that differ are marked, and you can filter the table to show only those.
- YesDocumented
- PartialAvailable with limits or on some plans
- NoDocumented as unavailable
- UnknownNot documented in the sources reviewed
| Dimension |  Wave |  FreshBooks |
|---|---|---|
| Product | ||
| Product typeDiffers | YesAccounting and invoicing software (SaaS) | YesInvoicing and accounting software (SaaS) |
| VendorDiffers | YesWave Financial | YesFreshBooks |
| Best forDiffers | YesFreelancers and micro-businesses that want free invoicing and books | YesFreelancers and service businesses that bill clients by invoice |
| Pricing | ||
| Pricing modelDiffers | YesFree Starter plan, Pro subscription, and per-transaction payment and payroll fees. | PartialMonthly or annual subscription by plan, limited by billable clients, with per-person fees for team members. |
| Pricing summaryDiffers | PartialFree Starter plan; Pro reported at $19 per month or $190 a year. | PartialNo free plan; Lite reported at $23 per month (5 billable clients). |
| Free planDiffers | YesYes | NoNo |
| Free trialDiffers | PartialPromotional Pro discount reported | YesYes (30 days) |
| Accounting Software criteria | ||
| Pricing modelDiffers | YesFree; flat Pro fee; payment fees | PartialMonthly by plan; limited by billable clients |
| Users includedDiffers | Yes1 on Starter; multiple on Pro | YesOwner; $11 per extra member |
| Inventory | YesNot offered | YesNot offered |
| Multi-currency | UnknownNot reviewed | UnknownNot reviewed |
| Fit and platform | ||
| Team size | YesSmall teams | YesSmall teams |
| Platforms | YesWeb, iOS, Android | YesWeb, iOS, Android |
| IntegrationsDiffers | YesWave Payments (card and ACH), Wave Payroll (US and Canada), Receipt scanning add-on | YesPayroll add-on ($40 a month + $6 per user), Advanced Payments add-on, Accountant access (Plus and above) |
| API | UnknownNot reviewed for this profile. | UnknownNot reviewed for this profile. |
Wave vs FreshBooks pricing.
Plan names, prices and billing terms as reported in each profile's sources. Taxes, add-ons and discounts are excluded unless stated.
Wave pricing
Free Starter plan, Pro subscription, and per-transaction payment and payroll fees.
- Starter$0 · Free
- Pro$19 per month or $190 per year · Monthly or annual
Prices from independent sources; treat as reported. A $9.50 a month promotion for the first three months of Pro was reported. Receipt scanning is $11 a month on Starter. Wave's own pricing page was not reviewed directly. Currency: USD. Checked 10 Nov 2026.
All Wave plans and sources
FreshBooks pricing
Monthly or annual subscription by plan, limited by billable clients, with per-person fees for team members.
- Lite$23 per month · Monthly or annual (about 10% off)
- Plus$43 per month · Monthly or annual
- Premium$70 per month · Monthly or annual
- SelectCustom · Contract
Prices from independent sources; treat as reported. Promotions of $1 a month (Lite, 12 months) and 80% off (Plus and Premium, 3 months) were advertised, then plans renew at list price. Team members are $11 a person a month. FreshBooks' own pricing page was not reviewed directly. Currency: USD. Checked 10 Nov 2026.
All FreshBooks plans and sourcesWave vs FreshBooks: pricing model, ecosystem and fit.
Pricing model and cost drivers
Wave: free Starter plan, Pro subscription, and per-transaction payment and payroll fees. A $9.50 a month promotion for the first three months of Pro was reported. Receipt scanning is $11 a month on Starter. Wave's own pricing page was not reviewed directly. FreshBooks: monthly or annual subscription by plan, limited by billable clients, with per-person fees for team members. Promotions of $1 a month (Lite, 12 months) and 80% off (Plus and Premium, 3 months) were advertised, then plans renew at list price. Team members are $11 a person a month. FreshBooks' own pricing page was not reviewed directly. Model costs at your real seat count, usage and contract term before comparing headline prices.
What sets each apart
The Wave profile highlights: unlimited invoices, estimates and bills on the free plan; revenue from payment and payroll fees rather than plan fees; bank feeds and collaborators moved to Pro in June 2026. The FreshBooks profile highlights: plans limited by billable clients rather than invoices or users; accepts card, ACH, Apple Pay, Google Pay and Buy Now, Pay Later; proposals and retainers from Plus.
Integrations and ecosystem
Wave integrations named in its sources: Wave Payments (card and ACH), Wave Payroll (US and Canada) and Receipt scanning add-on. FreshBooks: Payroll add-on ($40 a month + $6 per user), Advanced Payments add-on and Accountant access (Plus and above). Check that the connectors you rely on exist on the plan you would buy.
Deployment and team fit
Wave runs on Web, iOS and Android and is documented for small teams. FreshBooks runs on Web, iOS and Android and is documented for small teams. We did not test setup or migration.
Wave and FreshBooks: each option, in balance.
Each point is linked to a dated source on the product's profile.
Wave
Strengths and limitations from the profile
- The free Starter plan keeps unlimited invoices, estimates and bookkeeping.
- Pro costs a flat $19 a month rather than per user.
- Payroll covers all 50 US states for one price.
- Automatic bank feeds and collaborator access moved to Pro on 1 June 2026.
- Wave has no inventory management.
- Payments and payroll are limited to the US and Canada.
- Pro support runs on weekdays only, not 24/7.
FreshBooks
Strengths and limitations from the profile
- Invoicing accepts card, ACH, Apple Pay, Google Pay and Buy Now, Pay Later.
- Plus adds double-entry reports, reconciliation, proposals and retainers.
- A 30-day free trial and money-back guarantee are reported.
- Lite is limited to 5 billable clients.
- Each extra team member costs $11 a month.
- Promotional prices revert to list price after the first months.
- There is no free plan.
Wave or FreshBooks: which fits which situation?
No overall winner is declared. The better choice depends on the criteria that matter most to you, so test both against your own requirements.
Choose Wave if you are…
- Freelancers and micro-businesses that want free invoicing and books
- Owners in the US or Canada who mainly bill by invoice
- Businesses that want a flat price for multiple users on Pro
Less suited to: product businesses that need inventory; businesses outside the US and Canada.
See the Wave profile
Choose FreshBooks if you are…
- Freelancers and service businesses that bill clients by invoice
- Agencies that want proposals, retainers and project profitability
- Owners who want simple accounting without inventory
Less suited to: product businesses that need inventory; teams with many users, since each adds a monthly fee.
See the FreshBooks profileSwitching between Wave and FreshBooks.
Moving off Wave or FreshBooks usually means choosing a cut-over date, ideally a month, quarter or year end, exporting the chart of accounts, opening balances, customers, suppliers and open invoices, and reconnecting bank feeds, payroll and payment tools. Keep read-only access to Wave or FreshBooks for audit and tax records. Ask your accountant to review a trial file with one month of real transactions before committing.
- Export a sample of your data and test an import into the other product.
- List the automations, integrations and permissions you would need to rebuild.
- Compare total cost at your real volume, including add-ons and services.
- Pilot with one team before a full cut-over.
- Check contract terms and notice periods with both vendors.
General guidance, not specific to either vendor. Confirm migration options with the vendors.
Wave vs FreshBooks: questions and answers
What is the difference between Wave and FreshBooks?
Wave is accounting and invoicing software for freelancers and micro-businesses in the US and Canada, with a free Starter plan and a paid Pro plan. FreshBooks is accounting and invoicing software for freelancers and service businesses, sold in Lite, Plus, Premium and custom Select plans that differ by the number of billable clients. Both are accounting platforms, but they differ in pricing model, target team size and focus. Wave is positioned for freelancers and micro-businesses that want free invoicing and books; FreshBooks for freelancers and service businesses that bill clients by invoice.
Is Wave cheaper than FreshBooks?
It depends on your volume and plan. Wave: Free Starter plan; Pro reported at $19 per month or $190 a year. FreshBooks: No free plan; Lite reported at $23 per month (5 billable clients). Compare both at your real seat count, usage and contract term.
Do Wave or FreshBooks have a free plan?
Wave lists a free plan. FreshBooks does not document a permanent free plan. Wave free trial: Promotional Pro discount reported. FreshBooks free trial: Yes (30 days).
Wave or FreshBooks: which is better for small teams?
Wave and FreshBooks are both documented for small teams. Wave suits freelancers and micro-businesses that want free invoicing and books; FreshBooks suits freelancers and service businesses that bill clients by invoice. Neither is best for everyone.
What are the main limitations of Wave and FreshBooks?
Wave: Automatic bank feeds and collaborator access moved to Pro on 1 June 2026. FreshBooks: Lite is limited to 5 billable clients.
Is Wave still free in 2026?
The Starter plan is still free, but automatic bank feeds, collaborators and receipt scanning moved to the paid Pro plan on 1 June 2026.
How much does FreshBooks cost?
An October 2026 guide lists Lite at $23, Plus at $43 and Premium at $70 a month, with custom Select pricing.
What are the alternatives to Wave and FreshBooks?
Stack18 has alternatives guides for both: Wave alternatives and FreshBooks alternatives, each comparing at least four other accounting platforms on pricing, free plan, features and fit. The Accounting Software category lists every profile.
Where this comparison comes from.
- Wave Accounting Review 2026: Is It Still Free? Ecommerce Platforms Third-party Accessed 10 Nov 2026
- Wave accounting bank feeds and collaborator paywall guide Beancount.io (competing tool) Third-party Accessed 10 Nov 2026
- FreshBooks Pricing Guide Layer3 Labs Third-party Accessed 10 Nov 2026
This comparison summarises the Wave and FreshBooks profiles and their sources. Third-party figures are labelled; confirm current pricing and terms with each vendor. Stack18 has not tested these products.
Ready to test Wave and FreshBooks?
Check each vendor's current pricing and terms, run both against a real scenario from your business, or talk to Stack18 if off-the-shelf software is not the answer.
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