We compare these two accounting solutions across 11 key categories, such as general features, accounts payable (A/P), accounts receivable (A/R), and banking and cash management. We’ve done in-depth research so that it’s easier for you to find out which program is suited better for your business. Check out our detailed FreshBooks review and Wave review for more information. Our research finds that FreshBooks does well for features and support as well, and it is great for retailers because it offers inventory management on all plans (Wave doesn’t offer it at all).

FreshBooks offers industry standard pricing, while Wave is free, though there are fees assessed if you accept online payments or use Wave Payroll. Any invoice created can also be designated as recurring, and the Wave mobile app for iOS and Android devices lets you create and send an invoice from anywhere. In Wave, you’ll also be notified when an emailed invoice has been viewed, or a payment has been made.

Wave Accounting vs FreshBooks

Email responses are prompt, and you can also chat with live specialists to address any questions or concerns. FreshBooks has four paid plans ranging from $17 to $55+ per month (Lite, Plus, Premium, and Select), whereas Wave provides its invoicing and accounting services at no cost. Initially designed with the sole proprietor in mind, FreshBooks is a great fit for service professionals like attorneys, architects, plumbers, and designers. As a business grows, FreshBooks can easily adapt as it offers additional features and resources through its multiple plans. We evaluated pricing based on how each plan compares with similar software packages as well as how many users are included in each plan and the extra costs incurred per additional user.

I personally prefer the more user-friendly, feature-rich, and mobile-ready software suite offered by Freshbooks. If you have a limited budget and require free accounting and invoicing software, Wave may be a better solution. However, you cannot rely on Wave to assist you with serious or urgent technical issues.

👋 Welcome to FreshBooks

Both companies fair pretty well, and have TrustRadius scores above 8 out of 10. We’ve included a few screenshots to give you an idea of what members are saying about their services and features. FreshBooks has 14 standard reports with limited customization possibilities, including business health and double-entry accounting reports. You can export any report to Microsoft Excel for additional customization. Although both programs have robust revenue and expense tracking capabilities, FreshBooks has a tiny advantage. The software allows you to assign expenses to customers, which Wave does not.

• The Digital Merchant has the best strategies and tools to grow your digital business.
• FreshBooks, which starts at $17 a month, has more expansive invoicing features and multiple plans that scale up to support growing and midsize businesses.
• Accounting software automates these processes, reducing the likelihood of errors and saving everyone’s time.
• The downside for Zoho is its poor customer support, which earns a low score of 3.4/5 due to a lack of live chat or phone help.

On Trustradius, FreshBooks scores 8.1 out of 10 with 188 reviews while Wave scores 7.1 out of 10 with 165 reviews. Some of the links on our site are from our partners who compensate us. We’ll keep you informed, and we’ll never sell your information to anyone. The easiest way to answer that question is to start out with your preferred investment approach. Since you’re interested in Accounting Software Programs, here are some other reviews you might find interesting.

FreshBooks vs. Wave: Features

FreshBooks does offer a few more than this, and though neither option gives a particularly broad range of reports, it’s enough for you and your accountant to keep track of finances. Zoho Books is another solid choice, with an overall rating of 4/5 thanks to a broad and complex set of features (matched only by QuickBooks), as well as decent 3.5/5 pricing. The service’s automation features are one standout benefit, letting busy operations send regular invoices and estimates with minimum effort. The downside for Zoho is its poor customer support, which earns a low score of 3.4/5 due to a lack of live chat or phone help. FreshBooks is the best free tool for tracking bills, and Wave is the best accounting software for retail operations.

There is literally no one to speak with over the phone, and the only thing you have is chat support, which is provided to new users for 60 days after purchase. In addition to a chatbot, you can use the Wave Help Center, which includes some useful resources that will answer your problems. Because FreshBooks doesn’t offer this type of service, it’s notable that Wave has it.

Languages Supported

Three of FreshBooks’ four plans include access for just one user in the base cost. Unlike FreshBooks and QuickBooks, Xero allows unlimited users in even its lowest-priced plans. It offers an accountant certification program and connects with more than 1,000 small-business apps, including PayPal and Gusto. With FreshBooks’ project management functionality, you can create quickbooks online: automation for small business a project, assign it to a client as well as to your team, set a rate and pick an end date. You can bill either hourly or by flat rate, and if you choose hourly, you can specify which rate based on the service or team member. To track time spent on a project, you can use the timer, enter time manually or create a timed task so you don’t go over hours charged.

Income and expenses

Both FreshBooks and Wave offer intuitive system navigation, making it easy for new users to jump in and get to work. Like FreshBooks, Wave offers a vertical menu bar to the left of the screen, with access to integrations and settings found at the bottom of the menu bar. Clicking on a feature brings up a short menu of functions available, which you can click on to access that function. The Wave Launchpad serves as a good starting point for new users, guiding you through the system setup process.