Wave vs FreshBooks: Which is better in 2026?
A side-by-side comparison of pricing, features, and use cases to help you decide between Wave and FreshBooks.
Free accounting and invoicing for small businesses
Invoicing and accounting for freelancers and small businesses
Head-to-head comparison
| Feature | Wave | FreshBooks |
|---|---|---|
| Starting price | Free/mo ✓ Cheaper | $17/mo |
| Free plan | ✓ Yes | ✗ No |
| Pricing model | freemium | paid |
| G2 rating | 4.4/5 | 4.5/5 ↑ |
| Capterra rating | 4.5/5 | 4.5/5 |
| Founded | 2009 | 2003 |
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
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
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
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
Our verdict
Wave and FreshBooks 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.
Wave vs FreshBooks: frequently asked questions
Is Wave better than FreshBooks?
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, Wave or FreshBooks?
Wave is cheaper, starting at Free/mo.
What is the main difference between Wave and FreshBooks?
Wave focuses on invoicing, accounting, expense tracking. FreshBooks focuses on professional invoicing, expense tracking, time tracking. Both serve similar use cases but differ in approach and pricing model.
Can I migrate from Wave to FreshBooks?
Most teams migrate between Wave and FreshBooks within a day or two. Export your data from Wave (typically as CSV or via API), then use FreshBooks's import wizard to bring it across. Check each tool's help centre for a step-by-step migration guide before switching.