Platform · finance accounting
Wave
Free accounting and invoicing for very small businesses
The verdict
Wave offers free accounting and invoicing for micro-businesses, making money on payment processing and payroll add-ons. It suits sole proprietors who need clean books at no software cost.
What it is
Wave gives the smallest businesses real double-entry accounting and unlimited invoicing without a subscription fee, which is rare in this category. Bank connections, reports and receipt scanning round out the core. Revenue comes from payment processing rates and paid payroll, so the free tier stays usable for basic bookkeeping. The limits show up as you grow: support is thinner, payroll is available in only some regions, and there is no app marketplace, so it does not extend into the wider AI-finance tooling that QuickBooks or Xero connect to.
Strengths
- Core accounting and unlimited invoicing are free, with no per-month subscription
- Includes real double-entry bookkeeping and reports, not just a billing tool
- Simple enough that an owner with no accounting background can keep clean books
Trade-offs
- No app marketplace, so it does not connect to the wider ecosystem of AI finance tools
- Payroll is paid and available only in select regions
- Support is limited on the free tier, which is felt most during tax deadlines
Best for
Very small businesses that want legitimate accounting and invoicing without paying for software
Not for
Growing companies that need integrations, multi-user roles, or responsive support during tax season
Pricing
Free accounting/invoicing core; paid Pro plan plus usage-based payments (processing fees) and payroll (monthly + per-employee). Mostly free with paid add-ons.
Starter
Free$0
- free accounting
- unlimited invoicing
- receipt scanning
Pro
$16/mo
- automatic bank import
- auto-categorization
- lower payment fees
What people build with it
Frequently asked
- Is Wave really free?
- The core accounting and invoicing are free with no subscription. Wave earns from payment processing fees and paid payroll, and a Pro tier adds automatic bank import and lower payment rates.
- Does Wave have AI features?
- Not in a meaningful way. Wave focuses on straightforward bookkeeping and invoicing rather than an AI assistant, which is part of why it stays simple and free.
- Can Wave handle payroll?
- Payroll is a paid add-on and is offered only in select regions. Outside those areas you would run payroll elsewhere and record it in Wave manually.
- When should a business move off Wave?
- When you need integrations with other tools, multiple user roles, or stronger support. Wave has no app marketplace, so it does not scale into a wider AI finance stack.
- Wave or QuickBooks for a new business?
- Wave is ideal while finances are simple and budget is tight. QuickBooks makes sense once you need payroll, integrations, or an accountant who works in QuickBooks.