What is Wave used for?

Wave is accounting and invoicing software for small businesses, with receipt scanning, online payments, payroll and a free starter plan. It is a good fit for freelancers invoicing clients, small shops tracking income and expenses, and owners preparing records for tax season.

Yes. Wave has a free plan, and paid plans start at $19 per month.

No. Wave is proprietary (closed-source) software and can't be self-hosted. Open-source alternatives to Wave include Akaunting, Bigcapital and InvoiceShelf.

What are some alternatives to Wave?

Wave competes with QuickBooks, Xero and Zoho Books. For open-source options, see Enlisted's ranked list of open-source Wave alternatives.

Wave: features, pricing and alternatives

About Wave

Wave is a cloud accounting product aimed at freelancers and small businesses. It handles bookkeeping tasks such as tracking income and expenses, scanning and storing receipts, and producing the records needed at tax time.

For getting paid, it provides professional invoices, estimates with deposits, and acceptance of credit card and bank payments. A payroll product covers employees and contractors, and a mobile app lets users manage invoices, expenses and receipts on the go. A paid Pro plan adds polish and time-saving features, and the vendor publishes comparison pages against QuickBooks, FreshBooks, Xero, Sage and others.

Wave is proprietary software delivered as a hosted service. Its tagline highlights a free starter plan, with fees applying to optional services such as payments and payroll, so check the vendor's pricing page for the current terms.

Key features

Income and expense tracking
Receipt scanning and storage
Professional invoicing
Estimates and deposits
Credit card and bank payment acceptance
Payroll for employees and contractors
Mobile app

Good fit for

→Freelancers invoicing clients
→Small shops tracking income and expenses
→Owners preparing records for tax season

Tags: accounting; invoicing; small-business; receipts; payroll; bookkeeping; freelancers

Wave: questions and answers

What is Wave used for?: Wave is accounting and invoicing software for small businesses, with receipt scanning, online payments, payroll and a free starter plan. It is a good fit for freelancers invoicing clients, small shops tracking income and expenses, and owners preparing records for tax season.
Is Wave free?: Yes. Wave has a free plan, and paid plans start at $19 per month.
Is Wave open source?: No. Wave is proprietary (closed-source) software and can't be self-hosted. Open-source alternatives to Wave include Akaunting, Bigcapital and InvoiceShelf.
What are some alternatives to Wave?: Wave competes with QuickBooks, Xero and Zoho Books. For open-source options, see Enlisted's ranked list of open-source Wave alternatives.