Wave

Free accounting & invoicing software

Data verified Oct 12, 2026

Pundit
Score

#7 Trending in Accounting & FinanceAlternatives

Editorial Verdict

AI-researched, not hands-on tested

Wave's invoicing is genuinely simple and reliable, built specifically for small-business owners rather than accountants. The honest catch: customer support draws real complaints (multi-day response times, no phone line), and automated bank imports and receipt scanning moved behind the paid Pro plan (~$16/month) -- a frequent recent complaint from long-time free users.

Reviewed by AIToolPundit Editorial Team · last verified October 2026

About Wave

Wave is the only completely free accounting and invoicing software for small businesses. With 4 million+ users, Wave provides everything self-employed entrepreneurs need to run their finances — without spending a penny.

Screenshots

Commonly Cited Strengths & Limitations

Strengths

Rock solid and reliable, offering peace of mind
Easy to use and set up compared to QuickBooks
Affordable and small-business friendly
Unbeatable invoicing that makes getting paid easy

Limitations

Customer support is widely criticized (multi-day response times, no inbound phone number, chatbot-only for free users)
Eliminated its community support forums in 2022
Missing advanced features like built-in inventory tracking, audit trails, and report filters
No mileage tracking and receipt scanning is locked behind the paid Pro plan
Automated bank transaction imports moved from free to the paid Pro plan (~$16/month), a frequent recent complaint
Not suited to growing businesses that outgrow its capabilities

Common Use Cases

Tracking income and expenses
Sending invoices and estimates
Accepting online payments
Running payroll
Bookkeeping and tax preparation

Details

Pricing Model: Freemium
Starting Price: Free
Founded: 2009
Team Size: 201-500
Headquarters: Toronto, Canada
Platforms: WebiOSAndroid
Category: Accounting & Finance

Who is Wave for?

Freelancers

Pay staff and themselves with confidence.

Solopreneurs

Keep tidy books for tax time.

Contractors

Send professional invoices and estimates in minutes.

Consultants

Set up recurring invoices and payments for repeat clients.

Frequently Asked Questions

Is Wave free?

Wave offers a free plan, with paid plans starting at Free.

Does Wave have an API?

Yes, Wave provides an API for developers.

What platforms does Wave support?

Wave is available on Web, iOS, Android.

What does Wave integrate with?

Wave integrates with Apple Pay.

Is Wave cloud-based or self-hosted?

Wave is offered as a cloud-based (SaaS) deployment.

What are the downsides of Wave?

Customer support is widely criticized (multi-day response times, no inbound phone number, chatbot-only for free users) Also, Eliminated its community support forums in 2022

Who is Wave best for?

Wave is best suited for Freelancers, Solopreneurs, Contractors.

What can I use Wave for?

Common uses for Wave include tracking income and expenses, sending invoices and estimates, accepting online payments, running payroll.

How does Wave compare to QuickBooks?

Wave and QuickBooks are both used for accounting & finance -- specifically accounting & finance tools. See the full side-by-side comparison for pricing and feature differences.