Overview
Wave disrupted small business accounting by offering genuinely free accounting and invoicing software. You can create unlimited invoices, track expenses, manage receipts, and run financial reports without paying anything. Wave makes money through payment processing (2.9% + $0.30 per transaction) and payroll services. The platform is particularly popular with solopreneurs and very small businesses who need basic financial management without the cost of QuickBooks or FreshBooks. However, Wave is purely financial - no project management, time tracking, or CRM. You'll need multiple other tools to run your business.
Pricing
Best for: Budget-conscious freelancers
The Good
- Completely free for accounting and invoicing
- Real double-entry accounting (legit for taxes)
- Unlimited invoices and clients
- Receipt scanning mobile app
- Bank connections for automatic import
- Good for very small businesses
- No hidden fees on software
The Bad
- No project management whatsoever
- No time tracking (need separate tool)
- No CRM or deal tracking
- Payment processing has fees (2.9%+30¢)
- Support is limited (community forums)
- No goals, habits, or productivity
- Mobile app is basic
Best For
Budget-conscious freelancers
Wave is free for invoicing and accounting, but you'll need Notion + Toggl + HubSpot for everything else. That's $30+/mo plus the hassle of juggling 4 apps.
Key Features
- 01100% free accounting software
- 02Unlimited invoicing
- 03Expense tracking
- 04Receipt scanning via mobile
- 05Bank connections
- 06Financial reporting (P&L, Balance Sheet)
- 07Online payment acceptance
Integrations
Use Cases
- Freelancers
- Side Hustlers
- Very Small Businesses
Not sure if Wave is right for you?
See how it compares to an all-in-one solution.