Wave
What is Wave?
Wave is a financial management platform built for small business owners, freelancers, and sole proprietors, offering free accounting and invoicing software alongside paid add-ons for payroll, payments, and bookkeeping support. Its core accounting and invoicing tools are free with no subscription required, letting users create unlimited invoices and estimates, track expenses, connect bank accounts, and generate financial reports. Wave Payroll is a separate paid add-on available in the United States and most Canadian provinces (excluding Quebec), handling employee pay runs, direct deposit, tax calculations, and in many US states, automatic tax payment and filing.
The Pro plan adds automatic bank transaction import and categorization, unlimited receipt scanning, invoice customization, and payment discounts. Wave also offers optional bookkeeping coaching and dedicated bookkeeper services through Wave Advisors. The product is entirely web-based, with a mobile app for invoicing on the go, and is aimed at very small businesses and self-employed users who need straightforward, low-cost financial tools rather than a full HR suite.
Key Features of Wave
Here are the powerful features that make Wave stand out from the competition. Packed with innovative tools and advanced functionalities, this software offers a range of benefits.
- Free double-entry accounting and bookkeeping
- Unlimited invoice and estimate creation with customizable branding
- Online invoice payments via credit card, bank transfer, and Apple Pay
- Automatic bank transaction import and categorization (Pro plan)
- Receipt scanning and expense tracking
- Payroll with direct deposit for employees and contractors (US and Canada, add-on)
- Automatic payroll tax calculations, payments, and filings in supported US states
- W-2/1099 (US) and T4/T4A (Canada) tax form generation
- Employee self-serve portal for pay stubs and tax documents
- Cash flow, profit and loss, and other financial reports
Wave Pricing
Here are the pricing plans for Wave. Choose the plan that best fits your requirements and budget.
Starter
Free
Unlimited invoices, estimates, bills, and bookkeeping records; no payroll included
Online payment processing at 2.9% + $0.60 per credit card transaction (3.4% + $0.60 for Amex); mobile invoicing app
Pro
$19/month (or $190/year)
Single business account with expanded features
Introductory rate of $9.50/month for first 3 months; adds auto-imported bank transactions, unlimited receipt scanning, discounted payment processing (2.9% + $0 for first 10 transactions/month), invoice customization, and priority support
Payroll (add-on, US)
$40/month + $6 per active employee or contractor
Available in all 50 US states
30-day free trial after first payroll run; includes automatic tax payments and filings, direct deposit, and W-2/1099 generation
Payroll (add-on, Canada)
$25 CAD/month + $6 per active employee or contractor
Available in all provinces except Quebec
Tax service is self-service in Canada (remittances are the employer’s responsibility outside the automated US filing)
Wave Advisors (add-on)
From $149/month (USD)
Bookkeeping support service
Dedicated bookkeeper, monthly financial statements, tax readiness assistance
Wave Specifications
Get a closer look at the technical specifications and system requirements for Wave. Find out if it's compatible with your operating system and other software.
- cloud based
- web app
- ios
- android
- freelancers
- startups
- smes
- live support
Wave Videos
Wave Screenshots
Alternatives of Wave
AlternativesExplore alternative software options that can fulfill similar requirements as Wave. Evaluate their features, pricing, and user feedback to find the perfect fit for your needs.
Cloud accounting software with invoicing, expense tracking, banking, and inventory for growing businesses
Cloud payroll software that automates pay runs, tax filing, and compliance for US businesses
Payroll, HR, time tracking, and benefits administration platform for businesses of every size
Wave Comparisons
Compare Wave with other similar options available. Explore the key differences to see why it's the top choice for businesses and individuals.
Overall Wave Reviews
Here's our unbiased review of Wave. Discover how our team of experts rates its features, ease of use, customer support, and other aspects that contribute to its overall appeal.