FreshBooks vs Wave: Full Comparison (2026)
Quick Answer
FreshBooks ($19-$60/mo) vs Wave (free). FreshBooks is better invoicing software with time tracking, proposals, and client management. Wave is free double-entry accounting. FreshBooks for freelancers who send lots of invoices. Wave for anyone who needs basic accounting without paying.
FreshBooks vs Wave at a Glance
| Dimension | FreshBooks | Wave | Winner |
|---|---|---|---|
| Ease Of Use | 9.0/10 | 8.5/10 | FreshBooks |
| Features | 6.5/10 | 5.0/10 | FreshBooks |
| Overall | 7.2/10 | 6.5/10 | FreshBooks |
| Pricing | 7.5/10 | 10.0/10 | Wave |
Pricing Comparison
| Plan | FreshBooks | Wave |
|---|---|---|
| Select / Accounting (Free) | $Custom/quote | $Custom/monthly |
| Lite / Payments | $19/monthly | $Custom/monthly |
| Plus / Payroll (Tax States) | $33/monthly | $40/monthly |
| Premium | $60/monthly |
Feature Comparison
| Feature | FreshBooks | Wave |
|---|---|---|
| Receipt scanning | Yes | Yes |
| Audit trail | Yes | Yes |
| Tax preparation | Yes | No |
| Accountant access | Yes | Yes |
| Bank reconciliation | Yes | Yes |
| Bill pay | Yes | No |
| Double-entry accounting | Yes | Yes |
| Expense tracking | Yes | Yes |
| Inventory tracking | No | No |
| Invoicing | Yes | Yes |
| Mobile app | Yes | Yes |
| Multi-currency | No | No |
| Multi-entity | No | No |
| Role-based permissions | Yes | No |
| Time tracking | Yes | No |
| API access | Yes | No |
| Bank feeds | Yes | Yes |
| Payroll integration | Yes | No |
| Budgeting | No | No |
| Custom reports | Yes | No |
| Financial reports (P&L, Balance Sheet, Cash Flow) | Yes | Yes |
| Project profitability | Yes | No |
Ease Of Use: FreshBooks vs Wave
FreshBooks is the gold standard for user-friendly accounting software. Both are easy to use, but FreshBooks' invoicing workflow is more polished.
Features: FreshBooks vs Wave
FreshBooks has superior invoicing (customizable templates, automated reminders, online payments), time tracking, proposals, and client portal. Wave has basic invoicing and stronger accounting features.
Overall: FreshBooks vs Wave
FreshBooks is better software. Wave is free software. Both are valid choices depending on your budget and needs.
Pricing: FreshBooks vs Wave
Wave is free. FreshBooks starts at $19/mo. Simple math.
Our Recommendation
Wave if budget is the primary concern — you can't beat free. FreshBooks if you're a freelancer or service business that needs polished invoicing, time tracking, and client management. The $19/mo for FreshBooks Lite pays for itself if you invoice more than a few clients per month.