Wave Pricing Plan & Cost Guide

Wave

All-in-one accounting, invoicing, payroll, payments & receipt management

4.4/5 (929 reviews)

Wave Pricing

Pricing model: Free

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

Competitors Pricing

Chrome River EXPENSE

Pricing model: Subscription

Fidesic

Starting from: $19.00/month
Pricing model: Subscription
Free Trial: Available (No Credit Card required)

Bill.com

Starting from: $39.00/month
Pricing model: Subscription
Free Trial: Available (No Credit Card required)

LOAN SERVICING SOFT

Starting from: $7500.00
Pricing model: One Time License, Subscription
Free Trial: Available (No Credit Card required)

Recurly

Starting from: $99.00/month
Pricing model: Subscription
Free Trial: Available (No Credit Card required)

Wave Pricing Reviews

Pros
  • The ability to create and send invoices from anywhere is important for my business. I also enjoy that I can help manage multiple businesses from one login.Michi R.Read the full review
  • Everyone is charging for software even for the startup where startups are struggling for sales. I love Accounting by wave because its completely free, Trust worthy, and Great support.Meenal C.Read the full review
  • It's an amazing application for running the accounting side if things for a small business. M not sure if this would be successful for larger businesses, but it could.Verified ReviewerRead the full review
Cons
  • I would prefer to be able to generate this statement showing a list which includes ONLY the invoice date and total amount charged. They are very minor complaints.Corinne P.Read the full review
  • Support is horrible and the biggest downfall of this product.Steve K.Read the full review
  • It was as if it was easier for him to refund my customer's payment than place it in my checking account-- so that's what he did. No alternatives, no solutions, no answers.Verified ReviewerRead the full review
94%
recommended this to a friend or a colleague

25 reviewers had the following to say about Wave's pricing:

Kevin Burke

Great Product but No QB Import

Used daily for free trial
Reviewed 2018-12-11
Review Source: Capterra

Simple Accounting software that would fit most small business. Cheaper and easier to use the QB Online

Pros
Ease of use and pricing is excellent. Add ons available as needed.

Cons
Can not import complete history from QuickBooks so switching is not easy.

Rating breakdown

Ease of use
Features

Likelihood to recommend: 8/10

Minimize review

Robert Durrette

Wave: It's still free

Used weekly for 2+ years
Reviewed 2019-12-08
Review Source: Capterra

Overall, we would recommend Wave and as a startup we needed a low-cost option. This was it.

Pros
Quite frankly, the price point (free) can't be beat. Unfortunately, it can be a bit unwieldy when using Wave for large transaction volumes.

Cons
Organizing transactions can be a real bear. It's definitely not something I enjoy doing. Perhaps for small-scale gig workers this is a better solution.

Rating breakdown

Value for money
Ease of use
Features
Customer support

Likelihood to recommend: 9/10

Minimize review

Rex Schroeder

Great Software!

Used daily for 1-2 years
Reviewed 2019-10-12
Review Source: Capterra

It has been great using the software and it really helps to invoice and allow our customers to pay by credit card, with us not having to pay a base monthly fee. They off a quick pay feature were you can get your money instantly. They offer payroll services, which we have yet to use, but seem to be cheaper than most others. I highly recommend small businesses check them out.

Pros
It has all the basic needs for a small business accounting software. Its cloud based and its FREE! The software is free, and if you want to have them process credit cards, they charge a very good rate, and not monthly fees. Does email invoicing and repeat monthly billing.

Cons
Needs real inventory control. Would be nice if it had a way to enter inventory that would allow you to track volume sold and cost, sales prices, etc. Right now the inventory part is lacking.

Rating breakdown

Value for money
Ease of use
Features
Customer support

Likelihood to recommend: 9/10

Minimize review

Luke Docksteader

Great accounting software for small businesses

Used daily for 1-2 years
Reviewed 2016-12-14
Review Source: Capterra

I've been using Wave for a little over a year now and really like it! It's a very well designed system that meets the vast majority of my needs of my small business.

Pros
Quality software yet cheap.

Cons
Can be a bit buggy when making lots of changes o the transactions page.

Rating breakdown

Value for money
Ease of use
Features
Customer support

Likelihood to recommend: 10/10

Minimize review

john hundrieser

2 years as primary user

Used weekly for 2+ years
Reviewed 2017-11-07
Review Source: Capterra

It saves me from very expensive, bloated, terrible accounting software.

Pros
Price (free!), Bank integrations, simple interfaces that cover all the basic necessities of running a company.

Cons
2 big things. 1) the category guessing of charges is not good. 20 charges a month to ABC Parking and Wave doesn't know to guess it's Parking. 1a) there's no memorization of transactions (so you can't teach it). 2) the reporting is really basic and simple. I can't even break up an annual P/L by quarters. So I have to export to google sheets to make any reports or charts.

Rating breakdown

Value for money
Ease of use
Features
Customer support

Likelihood to recommend: 8/10

Minimize review

Nick Engen

Great free option

Used daily for less than 6 months
Reviewed 2018-10-25
Review Source: Software Advice

Great option for small businesses who can't yet justify more expensive software

Pros
- Price (free) - Easy user interface - Convenient report functions - Open API integrations for automated bank feeds

Cons
- Limited reports available -- not as many as Quickbooks for example - A bit of a learning curve - Not many accountants familiar with it, so you are more likely to purchase help if needed

Rating breakdown

Value for money
Ease of use
Features
Customer support

Likelihood to recommend: 10/10

Minimize review

Winford Jones

Beware! Wave reversed a payment 10 months later

Used weekly for 1-2 years
Reviewed 2019-04-24
Review Source: Software Advice

Pros
Price is good. Fairly simple to use. Easy to set up.

Cons
Beware. They reversed a sale that was made 10 months earlier even though the contract clearly showed the customer received MORE than they paid for. The customer even signed a termination agreement stating very clearly that there was no further obligation upon EITHER party. The facts were clearly ignored or not accurately argued by Wave as they “represented” our interests to Visa. Wave’s low priced service just cost me thousands of dollars. Immediately going back to QuickBooks.

Rating breakdown

Ease of use
Features
Customer support

Likelihood to recommend: 0/10

Minimize review

Mary C.

Excellent app, by far the best all-in-one affordable solution

Reviewed 2013-08-01
Review Source: GetApp

I've been using Wave for 2 years now, granted there was a hiccup last December, their customer support was more than responsive in solving the issues. All in all, this is by far the best sort of all in one solution I've found for accounting, invoicing, receipts, and payroll. All the core functions are completely free no limits, and the payroll is reliable and affordable (something like $4/employee + a $5 monthly fee). Some invoicing features are missing you can find in invoice specific applications, though the integration with my accounting makes up for it. I can even accept credit cards right on the invoice itself.

Pros
Free and unlimited accounting/invoicing Integrated products make accounting easy Cheap payroll for basic needs Payroll mobile app is awesome

Cons
Doesn't have time tracking built into invoices Still growing

Rating breakdown

Minimize review

Anonymous

A great FREE solution for all my needs

Used weekly for 2+ years
Reviewed 2018-07-26
Review Source: Capterra

Pros
The price is hard to beat :) But I also really like the design. This doesn't feel like cheap software, nor does it feel out and outdated. It's easy to use! I love using it to send invoices to my clients which are easy to accept payment and also look great!

Cons
I wish that I could use my own payment gateway (like Authroize.net), but I understand that part of how they make their money is through the processing fees so it makes sense.

Rating breakdown

Value for money
Ease of use
Features
Customer support

Likelihood to recommend: 9/10

Minimize review

Erica Sutton

Wave apps

Used occasionally for 2+ years
Reviewed 2018-10-04
Review Source: Software Advice

Pros
I love that this is an awesome product with great great affordability! It’s really better than its pricing!

Cons
You can’t access estimates on the app. You can only create or view estimates on a desktop not on a mobile device

Rating breakdown

Value for money
Ease of use
Features
Customer support

Likelihood to recommend: 9/10

Minimize review

Alberto Olivo

Best FREE accounting system there is. No contest

Used daily for 1-2 years
Reviewed 2019-12-08
Review Source: Capterra

Wave was a great software we used when starting out our company. It can honeslty handle everything a small business would need and more. It also offers Done-for-You payroll services at a very low entry price. They can also process your paid invoices at the industry-standard 2.9% + .30/transaction fee. We were overall very happy with the software but eventually outgrew it after a little over a year and moved to QBO.

Pros
Wave offers a very comprehensive accounting and bookkeeping platform at a very low cost....FREE! It does 95% of what any freelancer, self-employed, or small business owner would need.

Cons
The reporting on the software can be a little limited. It has your basic P+L, Balance Sheet, and other accounting reports. Yet, to get to the real nitty-gritty of your business the reporting can be lacking.

Rating breakdown

Value for money
Ease of use
Features
Customer support

Likelihood to recommend: 10/10

Minimize review

Anonymous

Not the Best I've Found

Used occasionally for free trial
Reviewed 2019-04-04
Review Source: Capterra

Pros
I originally tried this software as a cheap/free alternative to my current accounting software and honestly the only thing that I can say I like about it is that it was cheap/free.

Cons
Pretty much everything about this software I didn't like. It didn't seem as functional and integrated as some of the other programs I've tried out there but when its cheap/free you get what you pay for.

Rating breakdown

Ease of use
Features

Likelihood to recommend: 6/10

Minimize review

Sherri Stotler

Great option for those on a shoestring budget!

Used monthly for 2+ years
Reviewed 2018-10-08
Review Source: Capterra

I've been happy with it so far. Sometimes my accounts don't sync properly or they get disconnected, so I have to go back in and connect them.

Pros
The price for the overall functionality. It may not be the most robust, but it's the most affordable option out there.

Cons
It leaves a bit to be desired compared to other options like Quickbooks, but the price is worth it and it gets the job done.

Rating breakdown

Value for money
Ease of use
Features
Customer support

Likelihood to recommend: 7/10

Minimize review

Anonymous

For a free accounting app, I've been very impressed!

Used weekly for 2+ years
Reviewed 2018-02-01
Review Source: Capterra

I'm able to manage all of my accounting and share it with my CPA for free.

Pros
I like that it's a free tool and that it performs well. I can get many of the core features I need without an expensive price tag.

Cons
It's lacking a few features that QuickBooks has. However, it always seems to be getting better. Their customer service is also very helpful.

Rating breakdown

Value for money
Ease of use
Features
Customer support

Likelihood to recommend: 9/10

Minimize review

Jay Wasack

Serious Accounting Replacement for Quickbooks?

Reviewed 2015-03-20
Review Source: GetApp

What business doesn't write checks? Printing checks is not an option with Wave.

Pros
Low cost nice interfaces. Stripe integration

Cons
No check printing. No automatic migration from Quickbooks.

Response from Wave Accounting Inc.


Hi,

I'm sorry that Wave wasn't the right fit for you. We take our customer feedback seriously, and leverage this feedback when determining what features we'll build next.

Based on customer requests for different features, as well as some other factors, check printing isn't currently something that's been prioritized, and as such it's not currently available with Wave.

-Sara from Wave

Rating breakdown

Minimize review

Carlos Santiago

Excelent online program to maintaine payroll and clients.

Used daily for 1-2 years
Reviewed 2018-06-21
Review Source: Capterra

lOW COST APLICATION AND EASY TI USE.

Pros
Easy use and understanding of the program. Online ready and many can use the program at once. Can create estimates and invioces.

Cons
If there is no internet you can not use it. There is not a thing I dislike about this software. Always recomend it.

Rating breakdown

Value for money
Ease of use
Features
Customer support

Likelihood to recommend: 10/10

Minimize review

Joshua Bollman

I used Wave for years. It is wonderful, beautiful, and affordable.

Used occasionally for 2+ years
Reviewed 2018-07-05
Review Source: Capterra

I get paid. It's reliable and affordable. I have helped others get started with Wave as well. They love it.

Pros
Price. Free is good; especially if you are a freelancer. There weren't hidden catches with the software. The paid features were clearly marked, and if you didn't need them, nothing stopped you from getting paid.

Cons
There isn't much to not like. If I had to be picky, I'd say the lack of integrations. I'd also say the lack of an ecosystem like a card reader to connect to your account so you can accept payments in person.

Rating breakdown

Value for money
Ease of use
Features
Customer support

Likelihood to recommend: 10/10

Minimize review

Stephanie Nowlin

It's Free!

Reviewed 2016-11-30
Review Source: Capterra

This web-based accounting platform is actually pretty good!! I use it for managing the accounting on a separate side business I have. Not as pretty as Quickbooks, but has almost all same the invoicing and bank integration features... all at the low low price of FREE!

Rating breakdown

Value for money
Ease of use
Features
Customer support

Minimize review

Mary Spieth

Accounting Simplified

Used monthly for 6-12 months
Reviewed 2018-07-02
Review Source: Software Advice

Pros
It's free, so that's absolutely a plus. There are many features that are great to have included in a product so cheap.

Cons
Since it's free, you can definitely tell that someone has not perfected the way the website looks and operates.

Rating breakdown

Value for money
Ease of use
Features
Customer support

Likelihood to recommend: 9/10

Minimize review

Gregg Brekke

Free accounting with added features and mobile tools

Used weekly for 1-2 years
Reviewed 2018-11-27
Review Source: Capterra

Really powerful accounting software with automated tools for transaction importing, electronic payment processing and mobile tools for expense entry and invoice creation. Excellent for the price, knowing the service fees for payments and payroll offset the "free" price tag is more than worth it compared to the competition.

Pros
Wave allows me to keep track of finances for multiple enterprises - self-employment business, a non-profit, and personal finances. Each account was set up using the Wave wizard and very few changes have been made to the overall function beyond that. The non-profit I manage has a series of account codes that were easily added and applied to transactions. I use multiple income streams for my business and they are all imported automatically. Wave charges for things like payroll administration, credit card processing and bank transfers - all at industry standard rates - and that's how they keep the base platform free. The mobile expense app helps me keep track of receipts and does a really excellent job of deciphering receipts, even in multiple languages and currencies! The mobile invoice app is great for sending quick invoices or following up with clients on payment. Also allows viewing and reporting for authorized agents who can't change any data - a needed feature for the separation of financial powers required with most non-profit setups. My accountant can take a peek too.

Cons
One feature that is present in most accounting systems is the ability to categorize an expense as a reimbursed expense and then assign it to an invoice - at cost or with a markup. With Wave, I needed to set up a separate "reimbursed expenses" account and then - via double entry - add the expense onto invoices with a "reimbursed expense" account code. If entered at cost, the balances zero out in the reporting. If there is a markup, the income category is "reimbursed expense", which isn't helpful for year-end accounting.

Rating breakdown

Value for money
Ease of use
Features
Customer support

Likelihood to recommend: 9/10

Minimize review

Brent Randall

Free and good, but not great

Used weekly for 2+ years
Reviewed 2019-01-01
Review Source: Capterra

I enjoyed it to an extent because it was free. The fact that it is offered for free is a huge plus, and nothing else free seems to come close. Unfortunately, I found that other apps that cost a few bucks per month gave me everything I wanted and a better interface, plus better invoicing features, better reports, etc. Still, free is free, and I can't argue with the value! It's worth it if you are trying to cut costs.

Pros
The price is definitely the biggest "selling" point. Being free, Wave allows people to have access to a somewhat-full-featured accounting app without having to spend a lot. And it has mostly everything that one would need for simple business accounting.

Cons
It's just too clunky for me. I find the Wave interface to be a bit dated and not very smooth to work with. I really wish it were easier to navigate through each page, but it's not. It's difficult when I need to switch between my data because it keeps forgetting any custom filtering, and it takes a while to load. So I ran out of patience.

Rating breakdown

Value for money
Ease of use
Features
Customer support

Likelihood to recommend: 8/10

Minimize review

Marilyn Wittmann

Unreliable

Used daily for 2+ years
Reviewed 2020-02-23
Review Source: Capterra

A roller coaster - smooth sailing to unbelievably frustrating and time consuming.

Pros
Low cost and ease of use, at the time. It’s no longer easy to use though!

Cons
Wave is unreliable. I’ve been a customer for 8 years. They’ve had 2 major updates that led to their programs not functioning properly for weeks. Currently, they no longer import bank transactions and the whole point is that this is supposed be done automatically through linked accounts. Now all transactions need to be entered manually. The customer service is useless. They say the transaction issue is due to their third party and that they have no control over this.

Rating breakdown

Value for money
Ease of use
Features
Customer support

Likelihood to recommend: 0/10

Minimize review

Chris Frary

OK, if you can live with some very big limitations

Used daily for 6-12 months
Reviewed 2017-07-21
Review Source: Capterra

Having used quickbooks previously I thought this was a great way to save some money on a new business adventure. I quickly learned that this is not a place where you want to skimp out on features, and ended up paying more in my time. If you you have more time on your hands and you can put in the time then this software will probably work well for you. If you have multiple businesses and another job, forget it, it isn't worth the hassle.

Pros
Full Disclosure - Used this software 2 years ago. Free and allowed us to sync with our bank accounts. Payroll wasn't included but was a cheap additional.

Cons
Payroll had severe limitations in NYS, Additionally after I moved away from the software I forgot to grab our payroll reports.

Rating breakdown

Value for money
Ease of use
Features
Customer support

Likelihood to recommend: 5/10

Minimize review

Tyler Heaps

Great invoicing software for small businesses

Used monthly for 2+ years
Reviewed 2018-07-10
Review Source: Software Advice

This is the best invoicing software I have used in my 5 years as a consultant. It's much easier to use than QuickBooks and far cheaper as well.

Pros
Easily create customized invoices Easily create recurring invoices Manage small business accounts and balances

Cons
Bank account unlinks from the account easily making it so you have to relink your account information frequently.

Rating breakdown

Value for money
Ease of use
Features
Customer support

Likelihood to recommend: 10/10

Minimize review

Emily M

Wave Review

Used monthly for less than 6 months
Reviewed 2018-12-04
Review Source: Capterra

All in all if you are just starting out and need something basic and cheap this product will work. I would recommend it only for basic accounting features.

Pros
The software is very user friendly for basic accounting and bookkeeping functions. It helps someone with minimal accounting background to be able to organize the basic daily operations of their business

Cons
I found the software to be slow. It also did not allow me to customize reports and accounts easily and provide additional detail data.

Rating breakdown

Value for money
Ease of use
Features
Customer support

Likelihood to recommend: 5/10

Minimize review