Wave

Description

Wave is a free financial software suite for small businesses and freelancers, offering easy accounting, invoicing, and receipt tracking tools.

Wave provides integrated cloud-based software that simplifies financial management without typical subscription fees. It enables users to track income and expenses, send professional invoices, scan receipts, and manage payroll (paid service). Its intuitive interface and robust feature set make it an accessible solution for managing business finances efficiently, catering to a wide range of independent professionals and micro-businesses.

Key Applications

Accounting: Track income, expenses, and reconcile bank accounts for a clear financial overview and accurate record-keeping.
Invoicing: Create and send customized, professional invoices, track payments, and set up recurring billing for improved cash flow management.
Receipt Scanning: Digitize and categorize receipts instantly using a mobile app, simplifying expense management and tax preparation.
Financial Reporting: Generate essential financial statements such as profit & loss, balance sheets, and sales tax reports to monitor business health.

Who It’s For

Small business owners, freelancers, independent contractors, and consultants who need robust financial management tools without a monthly subscription cost, especially those focused on service-based operations.

Pros & Cons

Pros	Cons
✔️ Free comprehensive core accounting, invoicing, and receipt tracking.	✖️ Customer support primarily through email/chat, with slower response times for free users.
✔️ Intuitive interface, making it easy for non-accountants to manage finances.	✖️ Advanced features like inventory management or project tracking are not available.
✔️ Unlimited customers, invoices, and expense tracking without subscription fees.	✖️ Payroll and online payment processing incur additional fees.
✔️ Robust reporting features for essential financial insights.	✖️ Does not offer a fully integrated mobile app for all accounting functions (separate apps for invoicing and receipts).

Pros	Cons
✔ Very beginner-friendly	✖ Limited backlink data compared to Ahrefs
✔ Clean interface	✖ Less feature depth than Semrush
✔ Helpful community and resources	✖ Can feel slower at scale

How It Compares

Versus QuickBooks Online: Wave is primarily free for its core accounting features, while QuickBooks Online is a paid subscription with tiered pricing. Wave focuses on essential accounting, invoicing, and expense tracking, whereas QuickBooks offers more advanced features like inventory management and project costing, suited for larger SMEs.
Versus FreshBooks: Wave offers a broader free accounting suite, while FreshBooks is a paid, invoice-centric solution excelling in time tracking and project management for service-based businesses. Wave provides a more comprehensive free core accounting system.
Versus Xero: Wave is free for its core accounting features, whereas Xero is a paid subscription offering extensive integrations and collaborative features, often preferred by businesses with growing teams or complex accounting needs.

Bullet Point Features

Double-entry accounting system
Unlimited invoicing and expense tracking
Bank and credit card connections for automatic transaction imports
Receipt scanning and management via mobile app
Financial reports (P&L, balance sheet, sales tax)
Customer and vendor management

Try It Now

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Reviews from Our Users

8.07.2021

"Overall, I like the core features, but the mobile UI still feels a bit clunky. Hope they fix this in future updates."

Tom W.

Marketing Manager

06/10/2025

"Their support team actually listens to feedback! I’ve seen new features added within weeks. That’s impressive.''

Alex Carter

Freelancer

03/09/2025

"Some advanced options take a bit of time to understand, but once you get the hang of it, it’s incredibly powerful."

Ryan Blake

SaaS Consultant

12/08/2025

"I’ve tried several similar tools, but this one stands out for its clean interface and automation features. Totally worth the subscription."

Sarah Mitchell

GrowthWave Agency