FreshBooks vs Wave: Which is better in 2026?
A side-by-side comparison of pricing, features, and use cases to help you decide between FreshBooks and Wave.
Invoicing and accounting for freelancers and small businesses
Free accounting and invoicing for small businesses
Head-to-head comparison
| Feature | FreshBooks | Wave |
|---|---|---|
| Starting price | $17/mo | Free/mo ✓ Cheaper |
| Free plan | ✗ No | ✓ Yes |
| Pricing model | paid | freemium |
| G2 rating | 4.5/5 ↑ | 4.4/5 |
| Capterra rating | 4.5/5 | 4.5/5 |
| Founded | 2003 | 2009 |
FreshBooks: pros & cons
- ✓Best invoicing experience
- ✓Great for freelancers
- ✓Easy to use
- ✓Strong mobile app
- ✗Client limits on lower plans
- ✗Not ideal for product businesses
- ✗Limited inventory features
Wave: pros & cons
- ✓Core features are free
- ✓No limits on invoices or clients
- ✓Easy to use
- ✓Good for freelancers
- ✗Payment processing fees
- ✗Less powerful than QuickBooks
- ✗US & Canada focused
- ✗Limited integrations
Choose FreshBooks if...
- →You're a freelancer or solo consultant who needs to send professional invoices and get paid online without learning double-entry accounting
- →Your agency bills clients by the hour and needs time tracking, project expenses, and invoicing all in one place
- →You want to send estimates and proposals that convert directly into invoices once a client approves
Choose Wave if...
- →You're a freelancer or sole trader who needs professional invoicing and basic bookkeeping without paying a monthly subscription
- →Your side business or early-stage startup needs proper double-entry accounting and bank reconciliation at zero cost
- →You send a small number of invoices each month and want unlimited invoice creation with online payment acceptance built in
Our verdict
FreshBooks and Wave are closely matched on user ratings. Wave is the more affordable option. Wave offers a free plan — a lower-risk way to test before committing. The right pick depends on your team size and workflow.
FreshBooks vs Wave: frequently asked questions
Is FreshBooks better than Wave?
FreshBooks has a higher G2 score (4.5/5 vs 4.4/5). The best tool depends on your specific use case and budget.
Which is cheaper, FreshBooks or Wave?
Wave is cheaper, starting at Free/mo.
What is the main difference between FreshBooks and Wave?
FreshBooks focuses on professional invoicing, expense tracking, time tracking. Wave focuses on invoicing, accounting, expense tracking. Both serve similar use cases but differ in approach and pricing model.
Can I migrate from FreshBooks to Wave?
Most teams migrate between FreshBooks and Wave within a day or two. Export your data from FreshBooks (typically as CSV or via API), then use Wave's import wizard to bring it across. Check each tool's help centre for a step-by-step migration guide before switching.