Wave Pricing, Features, Reviews & Comparison of Alternatives


Accounting, invoicing, and payroll management platform

4.41/5 (996 reviews)

Wave overview

What is Wave?

Wave is a fully integrated solution designed for small businesses with 9 employees or less. With our total focus on small business owners, you’ll never have to navigate inflated or cluttered to find what you need, right now. With an easy to navigate interface and single login, it’s never been easier to find what you need, when you need it.

Use the 100% free accounting tools in Wave to gain the insights you need, without the legwork. With our automatic bank connections, your information flows seamlessly into Wave, without the manual entry. And even though it’s easy to navigate and understand, it’s still a real, double-entry application. Collaborate with your accountant or bookkeeper in real-time, and save both of you time!

Use Wave’s invoicing tools to collect your money faster. Choose the template that best reflects your business, load your own logo, and choose a color for your invoices. Email invoices right from Wave, and collect credit card payments through our payment processing. Use Wave’s invoicing tools to stay professional, get paid faster, and keep track of where your money is.

Everyone loves getting paid, but no one likes running payroll. Now, use Wave’s Payroll tools in America and Canada to take the headaches out of running your payroll. With guaranteed accuracy, direct deposit and employee self-service all included, at $5 per employee per month or less it’s never been more affordable for your employees to get paid.

Use Wave’s personal finance tools to gain better insights into where your money goes. With simple budgeting tools, real time investment tracking, and more, Wave’s personal tools are the best way to master your personal finances.


Pricing options
Value for money
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Business size



United States, Canada, United Kingdom, Australia, China and 3 other markets, India, Japan, Germany

Supported languages

Wave screenshot: Wave DashboardOnline transactions for only 1% – Bank paymentsWave screenshot: Wave AccountingWave screenshot: Wave Invoice CreationWave screenshot: Wave Invoice ScheduleWave screenshot: Wave Invoice ListWave screenshot: Wave Payments

Wave user reviews

Value for money
Ease of use
Customer support
Kathy Pop

Very Good alternative for invoicing customers

Used occasionally for 2+ years
Reviewed 2019-11-19
Review Source: Capterra

Their invoicing system is easy to use and makes it easy for me to manage most of my clients.I look forward to trying out their accounting services. I decided to give Wave a try when my PayPal acct was on hold. I still use both.

I have only used the invoicing part of this software. I love it for the most part. I =t is missing a feature or two

I found that I could not let my clients submit partial payments, or it wasn't clear on how to do it. Multiple payments was not flexible enough for my needs. I would have liked to be able to schedule the payments by specific date rather than genericall as ay, week, month, etc

Rating breakdown

Value for money
Ease of use
Customer support

Likelihood to recommend: 9/10

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Felix Jen

A Solid Free Small Business Accounting Software

Used daily for 6-12 months
Reviewed 2019-09-02
Review Source: Capterra

It’s been a solid piece of cloud accounting software, albeit limited. It’s hard to beat the price of it, and I have yet to find a similar but more fully featured one at the price of FREE!

I use Wave to keep track of my personal finances, from income to spending. In that lens, Wave performs quite well, allowing you to tag transactions that are automatically imported from your bank. It also lets you generate some simple reports such as your income statement, balance sheet, and cash flow. The interface is simple to use and understand, and I was able to pick it up (coming from an accounting background) in under a few minutes, without having gone through a walkthrough. The included ability to reconcile statements is also quite handy and allows me to verify that all transactions are posted appropriately. The inclusion of receipt tracking and tagging is also quite handy! The best part about Wave is the price! If you don’t need features such as invoicing and payroll (some SMB’s may find these handy. From a personal perspective, I did not), the accounting software is completely free.

Wave still appears to be in its infancy, although the product has been there for a while. The user interface will frequently be updated (the reconciliation flow changed 3 times since I signed up about 6 months ago), and new features will constantly be added without any notification, often shifting often things around from where you expect them to be. The reports from Wave are also very limited, so don’t expect any customizable reports as of 08/2019. You get about 12 reports total, some or all of which may not be very relevant to you, depending on your end goal. These reports are completely canned, system generated, and you do not have the ability to create new reports. This may change in the future, but as it stands, this is the current state of affairs. The receipt tracking feature is definitely handy to have. While Wave will OCR your receipts and tag them to a category, it will actually post an entire transaction to the ledger when you save it down. For those of us with a bank account and credit card linked to auto import transactions, you’ll get a duplicate: one from the CC, and one from the receipt. It would be nice if Wave included some intelligence to automatically match the receipt and transaction together, but for now, you need to manually merge each. Finally, as a small point, Wave does not obtain any service assurance through SOC1 or SOC2 reports, an issue that most people wouldn’t ever care about.

Rating breakdown

Value for money
Ease of use
Customer support

Likelihood to recommend: 7/10

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Michael Magness

Wave Was/Is My Go To From QB Online

Used daily for 1-2 years
Reviewed 2020-11-20
Review Source: Software Advice

My overall experience has been great! I have to do some thinking/remembering at tax time to separate the double entries of income. I show an invoice paid by check WAVE shows that income on my account. I go to the bank and deposit, there is that check again. For the total amount of money saved, around $450-500, I will put up with it.

It is FREE in the cloud, works on ALL platforms Windows 7,10, Android, iphones. Accepts all credit cards including Amex for 2.9% I am saving $420+ yearly by not having QB, I don't have to print invoices. Since WAVE is in the cloud I email my invoices and receipts.

I wish it had more storage of customer service that has been performed in the past but I suspect that would require some expense. It only had 3 invoice templates and there wasn't much customization on those. You can't compound taxes on your invoices, let me rephrase, you can compound 1 tax but no more. Since my only taxes are State and County I found it best to compound none for fear of forgetting which one I had compounded

Rating breakdown

Value for money
Ease of use
Customer support

Likelihood to recommend: 8/10

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Luke Goodman

A data-import nightmare - Stay away unless you love lost transactions

Used daily for 2+ years
Reviewed 2020-02-12
Review Source: Capterra

Support has been poor quality. As a paying customer of both their payroll service (which is solid) and their accounting coaching, I'm tremendously disappointed with the platform.

The software at it's core is very easy to use. The reliability is however a complete failure.

Throughout the past 3 years, Wave has been a game of 'make sure my bank works.' First, I closed incompatible credit card accounts in order to open accounts that were listed as compatible. A year later, Wave lost the connection with all of capital one due to an issue with switching data providers (from Plaid). Next, Chase bank cards also disappeared. When finally reconnecting, weeks worth of transactions were intermittently missing. For a software company who's core goal is to reduce manual data entry, this platform is a nightmare. Stay away.

Rating breakdown

Value for money
Ease of use
Customer support

Likelihood to recommend: 1/10

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Brooke Besemer


Used daily for 2+ years
Reviewed 2020-08-26
Review Source: Capterra

Wave no longer integrates with CapitalOne Spark Business Checking & Savings. CapitalOne is going through some changes so I don't blame Wave too much but manually uploading bank statements every month is a hassle. Though I love Spark, I'm hopefully that Wave's banking that is coming soon will be a good future solution. I love Wave for everything else. It's the most rounded and affordable solution for my small business finances.

It's everything I need in one place. As a small business, Wave is the best solution for me. I can invoice my clients for free, and easily keep my finances up-to-date making tax season worry free.

Wave no longer integrates with CapitalOne Spark Business accounts, so I have to manually upload two bank statements every month into Wave; One for my checking and one for my savings account, both of which are Spark.

Rating breakdown

Value for money
Ease of use
Customer support

Likelihood to recommend: 10/10

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Wave pricing

Pricing options
View Pricing Plans

Accounting & Invoicing - Free
Receipt Management - Free
Credit card processing - $0.30 + 2.9% per transaction
Bank payment/ACH processing - 1% per transaction ($1 minimum fee)
Payroll (tax service states): $35/month base fee + $4/active employee + $4/independent contractor paid
Payroll (self service states): $20/month base fee + $4/active employee + $4/independent contractor paid

Wave features

Accounting Integration
Accounting Management
Activity Dashboard
Automatic Notifications
Billing & Invoicing
Data Import/Export
Electronic Payments
Expense Tracking
Financial Analysis
Invoice Management
Invoice Processing
Reporting & Statistics
Third Party Integration

API (306 other apps)
Audit Trail (153 other apps)
Compliance Management (214 other apps)
Customizable Reporting (180 other apps)
Real Time Data (159 other apps)
Workflow Management (176 other apps)

Security and privacy


Encryption of sensitive data at rest
HTTPS for all pages

Access control

Multi-factor authentication options
This will ask you to sign in with LinkedIn

Videos and tutorials

Additional information for Wave

Key features of Wave

  • Billing and Invoicing
  • Real double entry accounting
  • Investment tracking
  • Financial reporting (Ledger, A/R, A/P, Income, Balance Sheet
  • Accept all major credit cards
  • Credit Card payment processing in America and Canada
  • Bank integrations to eliminate manual entry
  • Multi-currency
  • Professional reports
  • Seamless invoicing & payroll
  • Personal finance tracking
  • Fully integrated single login solution
  • Personal budgeting tools
  • Connect bank accounts and credit cards
  • Customizable sales taxes
  • 256-bit encryption
  • PCI Level-1 certified
  • Real double-entry accounting
  • Automatic reports
  • Profit and loss statement
  • Sales tax reports
  • Balance sheets
  • Collaboration tools
  • Receipt scanning
  • Built-in payroll
  • Expense tracking
  • Journal transactions
  • At-a-glance dashboards
  • Cash balances and invoice status
  • Automatic exchange rate calculations
  • Automatic data backup
  • Bill and invoice reminders
  • Profit and Loss
View All Features


Wave is 100% focused on the real small business owners, with nine employees or less. That means you’ll never see cluttered, complicated software that you can’t navigate, never mind understand.

What you will see is all the tools you need to gain better insights into your personal and business finances, all with one login. Whether it’s invoicing, payroll, or personal investment tracking, the days of multiple logins are in the past. And with free accounting and invoicing tools and totally affordable payroll, getting organized has never been more affordable.

Get paid faster, gain insights into your businesses financial health, know where your money goes and pay your employees, all with Wave.