QuickBooks Online vs Wave: Full Comparison (2026)
Quick Answer
Wave is free and genuinely good for basic accounting. QuickBooks costs $30-$200/mo but has far deeper features. If you're a solopreneur or micro-business with simple books, Wave saves you $360+/year. If you need inventory, payroll integration, multi-currency, or your accountant to stop complaining, pay for QBO.
QuickBooks Online vs Wave at a Glance
| Dimension | QuickBooks Online | Wave | Winner |
|---|---|---|---|
| Ease Of Use | 7.5/10 | 8.5/10 | Wave |
| Features | 8.5/10 | 5.0/10 | QuickBooks Online |
| Overall | 7.5/10 | 6.5/10 | QuickBooks Online |
| Pricing | 6.5/10 | 10.0/10 | Wave |
Pricing Comparison
| Plan | QuickBooks Online | Wave |
|---|---|---|
| Simple Start / Accounting (Free) | $30/monthly | $Custom/monthly |
| Essentials / Payments | $60/monthly | $Custom/monthly |
| Plus / Payroll (Tax States) | $90/monthly | $40/monthly |
| Advanced | $200/monthly |
Feature Comparison
| Feature | QuickBooks Online | 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 | Yes | No |
| Invoicing | Yes | Yes |
| Mobile app | Yes | Yes |
| Multi-currency | Yes | No |
| Multi-entity | Yes | No |
| Role-based permissions | Yes | No |
| Time tracking | Yes | No |
| API access | Yes | No |
| Bank feeds | Yes | Yes |
| Payroll integration | Yes | No |
| Budgeting | Yes | No |
| Custom reports | Yes | No |
| Financial reports (P&L, Balance Sheet, Cash Flow) | Yes | Yes |
| Project profitability | Yes | No |
Ease Of Use: QuickBooks Online vs Wave
Wave is simpler because it does less. That simplicity is a feature for businesses that don't need QBO's complexity.
Features: QuickBooks Online vs Wave
QBO has inventory, payroll integration, project tracking, multi-currency, class tracking, budgeting, and hundreds of integrations. Wave has basic double-entry accounting, invoicing, receipt scanning, and financial reports. No inventory, no multi-currency, no API.
Overall: QuickBooks Online vs Wave
QBO is objectively more capable. But Wave at $0/mo is remarkable for what it offers. The question is whether your business needs justify the QBO price tag.
Pricing: QuickBooks Online vs Wave
Wave is free for accounting and invoicing. QBO starts at $30/mo. That's $360/year you're saving with Wave. The only cost with Wave is payment processing (2.9% + $0.60 per card transaction) and payroll ($40/mo + $6/employee).
Our Recommendation
Wave for solopreneurs and very small businesses with simple accounting needs. QuickBooks for growing businesses, product companies, and anyone who needs features beyond basic invoicing and expense tracking. Wave is the best free option; QBO is the best paid option.