Wave

Powerful financial tools. Completely free.

Freemium

About Wave

Wave is the rare accounting tool that's actually free—unlimited invoicing, expense tracking, receipt scanning, and financial reports cost nothing. Wave makes money through optional paid services: payment processing (2.9% + $0.60 per transaction), payroll ($40/month base + $6/employee), and professional bookkeeping services. For freelancers and solopreneurs who don't need those extras, Wave provides real double-entry accounting without the QuickBooks price tag. Bank connections automatically import transactions, and the mobile app captures receipts on the go. Limitations: US and Canada only, fewer integrations than paid alternatives, and basic features compared to QuickBooks. But for simple accounting needs on a tight budget, Wave delivers remarkable value.

Key Features

Unlimited professional invoicing with customization

Double-entry accounting with bank reconciliation

Receipt scanning via mobile app

Financial reports (P&L, Balance Sheet, Cash Flow)

Automatic bank and credit card connections

Multi-currency support

Pros & Cons

Pros

• Core accounting is genuinely 100% free
• Unlimited invoices and expense tracking
• Real double-entry bookkeeping, not just tracking
• Clean, simple interface for non-accountants
• Mobile app for receipt capture

Cons

• Only available in US and Canada
• Fewer integrations than QuickBooks or Xero
• Payment processing fees if using Wave Payments
• Less powerful reporting than paid alternatives

Best For

Freelancers and solopreneurs on tight budgets Small service businesses with simple needs Anyone who only needs invoicing and expense tracking Startups wanting proper accounting without costs