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FreshBooks vs Wave Accounting Comparison

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Overview

Category Leaders

FreshBooks is accounting software that makes running your small business easy, fast and secure. Spend less time on accounting...

Category Leaders

Wave is an all-in-one accounting solution for small businesses which combines income and expense tracking, invoicing, receipt...

  • Platforms supported
  • Web-based
  • iPhone app
  • Android app
  • Windows Phone app
  • Typical customers
  • Freelancers
  • Small businesses
  • Mid size businesses
  • Large enterprises
  • Customer support
  • Phone
  • Online
  • Knowledge base
  • Video tutorials
  • Platforms supported
  • Web-based
  • iPhone app
  • Android app
  • Windows Phone app
  • Typical customers
  • Freelancers
  • Small businesses
  • Mid size businesses
  • Large enterprises
  • Customer support
  • Phone
  • Online
  • Knowledge base
  • Video tutorials

Video & Screenshots

Pricing

Starting from

6

Per month

  • Free trial available
  • Credit cardless trial
  • Free account
  • Subscription based

Starting from

ic-pricetag

No pricing info

  • Free trial available
  • Credit cardless trial
  • Free account
  • Subscription based

User reviews

4.5

3.7K

5

4

3

2

1

2,196

1,265

238

41

30

  • Value for money
  • Ease of use
  • Features
  • Customer support
96%
would recommend this app

4.4

1.2K

5

4

3

2

1

778

329

67

25

43

  • Value for money
  • Ease of use
  • Features
  • Customer support
94%
would recommend this app

Pros

It has a great interface which makes it feel very easy to use and has a great set of templates you can use from the beginning for various accounting needs.
For a small company as myself the excellent invoice features has been very helpful and useful.
FreshBooks combined with other applications is a great tool. In any case, if you want to create invoices and send it in a split second and then track and monitor its progress, I recommend FreshBooks.

Pros

It's a great software and works well for my basic use case as a solopreneur. The payments feature is also nice and the reporting is great.
I thought it was going to be great when I saw that it functioned with Etsy. And I loved that it is free.
This is a user friendly software that I have been using for years. It makes my invoicing very easy and has been great in tracking my finances.

Cons

We would lose all of that if we switched, so unfortunately we are stuck with having to use this horrible new format.
It is really frustrating to have a client not be able to pay through the invoice, and for this reason, only, I have been considering a new software company.
Tier based pricing from Lite to Premier is a bit confusing. WePay advocates having a Chase bank account for faster processing otherwise fails to integrate.

Cons

I am not able to write off a partly paid bill as bad debt if all attempts to reclaim the payment from my clients fail. Sometimes, people pay about 70% and fail to pay for the rest.
It can be glitchy at times. I had problems with my transactions imported from my connected bank account, and then when I tried to remove the account and re-connect it, I received error messages.
Then, January of 2021, Paypal import was abandoned. Without those 2 features, the software is essentially useless since it creates extra work each month.
  • Vendor responds to reviews
  • Last review6 days ago
  • Vendor responds to reviews
  • Last review9 days ago

Key features

  • Total features102
  • ACH Payment Processing
  • API
  • Access Controls/Permissions
  • Account Reconciliation
  • Accounting
  • Accounting Integration
  • Accounts Payable
  • Accounts Receivable
  • Activity Dashboard
  • Activity Tracking
  • Alerts/Notifications
  • Attendance Tracking
  • Automatic Billing
  • Automatic Time Capture
  • Bank Reconciliation
  • Billable & Non-Billable Hours
  • Billable Items Tracking
  • Billing & Invoicing
  • Billing Portal
  • Billing Rate Management
  • Budgeting/Forecasting
  • CPA Firms
  • Calendar Management
  • Cash Flow Management
  • Cash Management
  • Client Management
  • Client Portal
  • Collaboration Tools
  • Contact Database
  • Contact Management
  • Core Accounting
  • Credit Card Processing
  • Currency Conversion
  • Customer Statements
  • Customizable Branding
  • Customizable Invoices
  • Customizable Templates
  • Dashboard
  • Data Import/Export
  • Data Visualization
  • Deferred Billing
  • Discount Management
  • Document Storage
  • Document Templates
  • Electronic Payments
  • Email Management
  • Email Reminders
  • Estimating
  • Expense Claims
  • Expense Tracking
  • Financial Analysis
  • Financial Management
  • Financial Reporting
  • Fixed Asset Management
  • For AEC Industry
  • For Government
  • For Religious Organizations
  • Fund Accounting
  • General Ledger
  • Hourly Billing
  • Income & Balance Sheet
  • Inventory Management
  • Invoice Creation
  • Invoice History
  • Invoice Management
  • Invoice Processing
  • Mobile Access
  • Mobile App
  • Mobile Payments
  • Mobile Receipt Upload
  • Mobile Time Tracking
  • Multi-Currency
  • Multi-Language
  • Multi-Period Recurring Billing
  • Multiple Billing Rates
  • Nonprofits
  • Online Invoicing
  • Online Payments
  • Online Time Tracking
  • PCI Compliance
  • Partial Payments
  • Payment Processing
  • Payroll Management
  • Performance Metrics
  • Profit/Loss Statement
  • Project Accounting
  • Project Billing
  • Project Management
  • Project Planning
  • Project Time Tracking
  • Project Tracking
  • Projections
  • Proposal Generation
  • Purchase Order Management
  • Quotes/Estimates
  • Real Time Notifications
  • Real-time Updates
  • Receipt Management
  • Receivables Ledger
  • Recurring Invoicing
  • Recurring/Subscription Billing
  • Reminders
  • Reporting & Statistics
  • Reporting/Analytics
  • Revenue Recognition
  • SSL Security
  • Sales Tax Management
  • Search/Filter
  • Spend Control
  • Spend Management
  • Status Tracking
  • Tax Calculation
  • Tax Management
  • Third Party Integrations
  • Time & Expense Tracking
  • Time Tracking
  • Time Tracking by Client
  • Time Tracking by Project
  • Timer
  • Timesheet Management
  • Transaction History
  • Visual Analytics
  • Total features70
  • ACH Payment Processing
  • API
  • Access Controls/Permissions
  • Account Reconciliation
  • Accounting
  • Accounting Integration
  • Accounts Payable
  • Accounts Receivable
  • Activity Dashboard
  • Activity Tracking
  • Alerts/Notifications
  • Attendance Tracking
  • Automatic Billing
  • Automatic Time Capture
  • Bank Reconciliation
  • Billable & Non-Billable Hours
  • Billable Items Tracking
  • Billing & Invoicing
  • Billing Portal
  • Billing Rate Management
  • Budgeting/Forecasting
  • CPA Firms
  • Calendar Management
  • Cash Flow Management
  • Cash Management
  • Client Management
  • Client Portal
  • Collaboration Tools
  • Contact Database
  • Contact Management
  • Core Accounting
  • Credit Card Processing
  • Currency Conversion
  • Customer Statements
  • Customizable Branding
  • Customizable Invoices
  • Customizable Templates
  • Dashboard
  • Data Import/Export
  • Data Visualization
  • Deferred Billing
  • Discount Management
  • Document Storage
  • Document Templates
  • Electronic Payments
  • Email Management
  • Email Reminders
  • Estimating
  • Expense Claims
  • Expense Tracking
  • Financial Analysis
  • Financial Management
  • Financial Reporting
  • Fixed Asset Management
  • For AEC Industry
  • For Government
  • For Religious Organizations
  • Fund Accounting
  • General Ledger
  • Hourly Billing
  • Income & Balance Sheet
  • Inventory Management
  • Invoice Creation
  • Invoice History
  • Invoice Management
  • Invoice Processing
  • Mobile Access
  • Mobile App
  • Mobile Payments
  • Mobile Receipt Upload
  • Mobile Time Tracking
  • Multi-Currency
  • Multi-Language
  • Multi-Period Recurring Billing
  • Multiple Billing Rates
  • Nonprofits
  • Online Invoicing
  • Online Payments
  • Online Time Tracking
  • PCI Compliance
  • Partial Payments
  • Payment Processing
  • Payroll Management
  • Performance Metrics
  • Profit/Loss Statement
  • Project Accounting
  • Project Billing
  • Project Management
  • Project Planning
  • Project Time Tracking
  • Project Tracking
  • Projections
  • Proposal Generation
  • Purchase Order Management
  • Quotes/Estimates
  • Real Time Notifications
  • Real-time Updates
  • Receipt Management
  • Receivables Ledger
  • Recurring Invoicing
  • Recurring/Subscription Billing
  • Reminders
  • Reporting & Statistics
  • Reporting/Analytics
  • Revenue Recognition
  • SSL Security
  • Sales Tax Management
  • Search/Filter
  • Spend Control
  • Spend Management
  • Status Tracking
  • Tax Calculation
  • Tax Management
  • Third Party Integrations
  • Time & Expense Tracking
  • Time Tracking
  • Time Tracking by Client
  • Time Tracking by Project
  • Timer
  • Timesheet Management
  • Transaction History
  • Visual Analytics

Integrations

  • Total integrations298
  • Adobe Commerce
  • Authorize.Net
  • Dynamics 365
  • Dynamics 365 Business Central
  • FreshBooks
  • Microsoft 365
  • Microsoft Excel
  • NetSuite
  • PayPal
  • QuickBooks Online Advanced
  • Quickbooks Online
  • SAP Business One
  • Sage Intacct
  • Salesforce Sales Cloud
  • Shopify
  • Slack
  • Stripe
  • WooCommerce
  • Xero
  • Zapier
  • Total integrations39
  • Adobe Commerce
  • Authorize.Net
  • Dynamics 365
  • Dynamics 365 Business Central
  • FreshBooks
  • Microsoft 365
  • Microsoft Excel
  • NetSuite
  • PayPal
  • QuickBooks Online Advanced
  • Quickbooks Online
  • SAP Business One
  • Sage Intacct
  • Salesforce Sales Cloud
  • Shopify
  • Slack
  • Stripe
  • WooCommerce
  • Xero
  • Zapier

User reviews that mention these apps

Overall Rating
  • Value for money
  • Ease of use
  • Features
  • Customer support
  • Likelihood to recommend5/10

Share this review:

FreshBooks logo

FreshBooks

Good app for accounting

Reviewed 3 years ago

The app is great at what it does, easy to use accounting software. But wave apps does almost the same thing for free.

Pros

Makes it very easy to keep up with accounting for your business. Lots of integrations

Cons

One word... Price. Why pay for this app instead of using Waveapps which is free.

Overall Rating
  • Value for money
  • Ease of use
  • Features
  • Customer support

Share this review:

FreshBooks logo

FreshBooks

Great way to get started without having to pay for accounting services.

Reviewed 5 years ago

We've been using Wave Apps for a few years and it's a great tool for managing finances. Great way to get started without having to pay for accounting services.

Pros

No pros were added to this review

Cons

No cons were added to this review

Overall Rating
  • Value for money
  • Ease of use
  • Features
  • Customer support
  • Likelihood to recommend5/10

Share this review:

FreshBooks logo

FreshBooks

Moved on from Freshbooks

Reviewed 4 years ago

changed to Wave due to lack of options for accumulated invoicing

Pros

easy to use, but lacking some basic accounting features. No ability to send the customer a statement.

Cons

no statements or accumulated invoicing. No ability for the customer to see a TOTAL amount owed.

Vendor response

Hey Randy, thank you for taking the time to share your review of FreshBooks! FreshBooks has been in the process of adding accounting features to our software, like the General Ledger, Chart of Accounts and Trial Balance report. Clients do also have the option to view a total of what they owe a business when logged into their Client Account. You are correct that we don't have a specific Client Statement report, but a filtered Invoice Details report can be emailed to a client to show them all of their invoices and payments received. However, I will ensure to pass along your feature suggestion for a specific Client Statement and accumulated invoicing to our team! ^DM

Overall Rating
  • Value for money
  • Ease of use
  • Features
  • Customer support
  • Likelihood to recommend8/10

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FreshBooks logo

FreshBooks

Easy to use

Reviewed 3 years ago
Pros

Easy to use piece of software. Check out the free trial to see if it is a good fit

Cons

There is no free version. Went back to wave app instead as it is free.

Overall Rating
  • Value for money
  • Ease of use
  • Features
  • Customer support
  • Likelihood to recommend8/10

Share this review:

FreshBooks logo

FreshBooks

A Fresh Way to Manage Your Books

Reviewed 3 years ago

By far the best bookkeeping software I have ever used. Xero, wave and other alternates on the market do not compare.

Pros

I love the simplicity, easy of use and automated reminders. I felt like the software offered bookkeeping, tax prep, and accounts receivables management all in one.

Cons

There were some limitations when handling unique billing circumstances that I found tricky to work with.

Overall Rating
  • Value for money
  • Ease of use
  • Features
  • Customer support

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FreshBooks logo

FreshBooks

Entry Level Product

Reviewed 5 years ago
Pros

It has basic accounting functions but does not cover complex accounting needs. Or corporate level accounting needs.

Cons

Customer service was difficult to get on the phone and were not very helpful with troubleshooting the issues with the software.

Overall Rating
  • Value for money
  • Ease of use
  • Features
  • Customer support

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FreshBooks logo

FreshBooks

Stop calling it accounting software. It's not.

Reviewed 6 years ago

As a freelance bookkeeper, I hate Freshbooks with a passion. My client uses it, and he loves if for invoicing, but it's really not good for anything else, and without even a basic reconciliation feature, it's an absolute nightmare to try and figure out if any of the information is correct on the limited reports it allows. Even a report listing just the entries for reconciliation would be a vast improvement. Also, there is no way to reverse entries other than just deleting them, which is absolutely ridiculous. Overall, I will probably turn down clients rather than work with this software again, unless there are major changes. It needs VAST improvement. It doesn't even integrate with common accounting software.

Pros

I honestly can't think of any. It's easy to invoice for computer illiterates?

Cons

It's touted as accounting software, but it isn't. It doesn't even work with actual common accounting software, making it functionally worse than useless. Advertising it as accounting software is fraudulent.

Vendor response

Hi Christine! Tim from FreshBooks here. I'm really sorry to see that you had a frustrating experience. Whatever pain that we may have caused for you to leave such a passionate review, we're sincerely sorry. You can see a list of entries by running either the payments collected report, or the expense report. If you want to get into details for your sales, you can also run the items sales or the...

Overall Rating
  • Value for money
  • Ease of use
  • Features
  • Customer support
  • Likelihood to recommend5/10

Share this review:

FreshBooks logo

FreshBooks

Good for a basic start up software

Reviewed 6 years ago

I started to use fresh books as a business tool because I was told that it was simple to use. In some aspects, it was. I loved most of the invoice and billing features, but the designs were limited. There are limited reports to choose from, and no accounts payable option. One aspect that greatly irked me was having to manually go back into settings to add a new sales tax, instead of being able to change it directly on the invoice. This software is great for a simple business, but you may need back up software because the accounting features are lacking.

Pros

Simple to use

Cons

Lack of accounting features

Overall Rating
  • Value for money
  • Ease of use
  • Features
  • Customer support
  • Likelihood to recommend9/10

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FreshBooks logo

FreshBooks

Easy for all to use!

Reviewed 6 years ago

We are using FreshBooks for our invoices and administration for our hotel in Java, Indonesia. Easy to use, always available. Standard reports are good and other reports are also simple to make.

Pros

Easy to use, no downtime

Cons

Sometimes missing international accounting features.

Overall Rating
  • Value for money
  • Ease of use
  • Features
  • Customer support
  • Likelihood to recommend8/10

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FreshBooks logo

FreshBooks

Easy to use!

Reviewed 4 years ago
Pros

This software is easy to use for the average business owner and integrates well with other accounting systems. Works well for small companies.

Cons

Too simple for an accounting software. Lacks some features you get with other accounting software's like Xero and QBO.

Overall Rating
  • Value for money
  • Ease of use
  • Features
  • Customer support
  • Likelihood to recommend8/10

Share this review:

FreshBooks logo

FreshBooks

Very easy accounting solution -- geared toward the client more than the accountant

Reviewed 6 years ago

In my role as an accounting consultant, I used this software in order to determine if it would be a good fit for my clients. I like its easy usability from the client perspective, and I have recommended it to clients who are not accounting experts or tech savvy. Ultimately, I switched to a more accounting-focused solution for my own business because Freshbooks lacks some of the accounting functionality I'm accustomed to. It is easy to import bank data into Freshbooks, and it's easy for me to export data from Freshbooks into my accounting software to prepare the clients' books. One thing that really sets Freshbooks apart is their customer service. Unlike any of the big name small business accounting solutions, I was able to get through to a person every time I called with questions.

Pros

Very easy to use; Mobile data input; Invoicing and credit card processing from within the system; Interfaces with many banks to sync data; Great customer service; The software is designed for clients who do not have accounting backgrounds, so clients are more likely to use it.

Cons

The software is designed for clients who do not have accounting backgrounds, so it doesn't necessarily function like other accounting systems you may be accustomed to if you do have an accounting background.

Overall Rating
  • Value for money
  • Ease of use
  • Features
  • Customer support
  • Likelihood to recommend8/10

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