FreshBooks vs Wave
Last updated July 6, 2026
Deciding between FreshBooks and Wave? Here's how they stack up on price, fit and migration effort — so you can pick the right accounting software tool without second-guessing.
Pricing disclaimer: All prices are list prices in USD, shown for general information only as of July 6, 2026, and may have changed since. Plans, tiers and features vary by region and are frequently updated by each vendor. Nothing here is financial, legal or purchasing advice — always confirm current pricing and terms on the provider's official website before you buy.
| FreshBooks | Wave | |
|---|---|---|
| Starting price | $23/mo (Lite) | Free |
| Free tier | — | Yes |
| Best for | Established users on its plans | Freelancers who mainly need invoicing and want to drop the monthly fee. |
| Migration effort | — | Easy |
| Rating | — | 4.1 ★ |
Why teams switch from FreshBooks
- ✕Plans are capped by the number of billable clients — the Lite tier is tight, and growth forces an upgrade.
- ✕Every extra team member costs about $11/mo more, so small teams add up fast.
- ✕Double-entry accounting is newer and lighter than QuickBooks or Xero.
- ✕The advertised price is a promo — standard pricing jumps to $23/$43/$70 once the intro ends.
Where Wave wins
- ✓Free to start — no client caps
- ✓Simple invoicing
- ✓Good for solo businesses
…and where it doesn't
- ✕No inventory
- ✕Basic reporting
- ✕No time tracking like FreshBooks
The verdict on Wave
If FreshBooks' Lite plan feels expensive for how few clients you bill, Wave offers the core — invoicing and accounting — for free, with no billable-client cap at all. It monetizes through payment and payroll fees instead of a subscription. You'll give up FreshBooks' excellent time tracking and project tools, and reporting is basic, so it suits pure invoicing rather than project-heavy consulting. But for a solo business that just wants to send invoices and track income without a monthly bill, Wave is the obvious cost-cutting switch. Migration is easy since you're usually starting fresh.
Try Wave freeWhat real users say: FreshBooks vs Wave
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Frequently asked questions
Is Wave cheaper than FreshBooks?
Wave starts at Free, including a free tier, compared with FreshBooks from $23/mo (Lite). Starter plan free (accounting & invoicing); Pro $16/mo adds auto-import and more. Verified Jul 6, 2026.
Is it hard to migrate from FreshBooks to Wave?
Migration difficulty is rated Easy. Migration is easy since you're usually starting fresh.
Who should choose Wave over FreshBooks?
Wave is best for: Freelancers who mainly need invoicing and want to drop the monthly fee. If that describes your situation, it's a strong FreshBooks alternative.
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